Short Sales for Sellers


More About Short Sales	Should I Short Sell My Home?	Contact Us

*Is a Short Sale for Me/Us?*	Yes	No
I/We are "Upside Down" on our Mortgage (We owe more than the home is worth. If you are not sure, select the block, "What is my Home Worth" at the bottom of this page.) *If you answered "Yes", Read On!*	_____	_____

I/We cannot afford our monthly Mortgage Payments	_______	_______
I/We must relocate and cannot afford to keep our Home	_______	_______

If you answered yes to either of the above questions, a Short Sale may help. Read On!

What is a Short Sale?

A "Short Sale" occurs when a home is sold and the Lender (Mortgage Company) agrees to accept less than the full amount owed on the home. The Lender is "Short" on the repayment of the Mortgage.

What are the Benefits of a Short Sale?

A Short Sale is a Voluntary Sale of your home, where the Lender and Owner agree on the terms. A Short Sale almost always has less negative impact on your Credit Score than a Foreclosure. You may be eligible to obtain a loan to purchase a home in as little as two years.

What is a Foreclosure?

A Foreclosure is an Involuntary "Sale" of your home, where the Lender takes the property from an Owner that is deliquent on their mortgage payments. A Foreclosure has the most negative impact on your credit and can prevent you from being eligible to purchase a new home for up to 7 years.

How much does a Short Sale Cost?

Usually Nothing. Seriously. Closing Costs are usually paid for by the Lender or Buyer.

How do I "Short Sell" my Home?

First, have a discussion with your Lender regarding the availability of any loan modification or other programs that would allow you to keep your home. You should also obtain professional legal or financial advice to ensure a Short Sale is your best course action. Then Contact an Experienced, Understanding Realtor who is Qualified in Short Sales.

Short Sales are complex, time consuming transactions that are not for the part time agent or even a full time agent that is not experienced in them. Many Homeowners are experiencing financial difficulties for the first time in their lives, and this should not be a first time for your Realtor as well. You need the steady, patient, guiding hand of an expert to help you weather these times. It is also a very emotional, stressful period, and you should work with a Realtor that understands what you are going through and will always work in your best interests.

When should I get Started?

Contact Us Today, even if it will be a couple of weeks before you can put your home on the market. We can provide you with guidance and information as you prepare to list your home, plus we can also start making contact and building relationships with your Lender. We are a team of experienced, Short Sale Listing Agents that work for Long Realty, by far the largest, most successful and highly acclaimed Real Estate Brokerage in Tucson and Southern Arizona.

I have already received a Foreclosure Notice. Now what?

Time may be running out, but maybe not. Foreclosure proceedings (Trustee Sales) are often postponed and rescheduled. Lenders may also agree to delay foreclosure if your home is on the market and you have received a viable offer. Did I suggest you Contact us Today?

The "Dark Side" of Short Sales

Short Sales are Hard. Many Realtors avoid listing Short Sale property as they often require a great deal of time to sell, and there is no guarantee of success. Once an offer is received, it can take the Lender weeks or even months to respond with an answer (although there is legislation pending that would require a response in 20 Days).

Short Sales also require much more work than a conventional or even a foreclosure sale. Lenders require many additional documents and reports, and Listing Agents are constantly on the phone managing and negotiating the sale. Waiting on hold forever, finding the right people to speak with while getting bounced around to other departments, and leaving voice mail messages that are not returned are what we typically go through on a daily basis.

Why do we like Short Sale Listings?

"Like" may be too strong a word, but we do welcome short sale listings as we enjoy a high rate of success with them. We know how to work with Lenders, who to call and when. Our experience has helped us become very efficient and effective in managing the Short Sale process.

Our objective in designing InsideTucsonRealEstate.com was to provide the absolute best, single-source resource for information and advice pertaining to the sale or purchase of real estate. We have also included extensive search capabilities into our website, as we know that over 90% of Buyers and Sellers research homes on the Internet before contacting a Realtor.

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