You Don’t Have to Leave Short Sales Out of Your Home Hunt

 

Here in Arizona, the words “short sale” have become equivalent to “long, confusing, drawn out process.” Buying a short sale can be tedious and time-consuming, but it is by no means impossible. If you arm yourself with information and get the right kind of help, you can successfully purchase your own personal desert oasis through a short sale. Here are some pointers to get you started.

Don’t allow yourself to be swayed by the opinions and horrors stories you hear. Yes, buying a short sale is a more involved process, but there is a lot of misinformation out there. If you have been avoiding short sales in your home search because of all of the negative things you’ve heard, take some time to find out the facts for yourself. You don’t want to miss out on your perfect home for no good reason.
When buying a short sale, you are not buying the home from the lender like you would be if you were buying a foreclosure. In a short sale you are buying from the homeowner, just like you would be in a traditional sale. The difference between a traditional sale and a short sale is that the seller’s lender has to approve the short sale, since they are the ones who will be potentially taking a loss on the property.
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To buy a short sale, you must be prepared to be patient. Short sales can take around four months to be approved. This isn’t always the case, but it is best to prepare yourself for the possibility of a lengthy wait.  Get an Arizona short sale specialist to guide you through the short sale process. Their wealth of knowledge and experience in short sales in the Valley is your best bet for a successful short sale purchase.

To buy a short sale, you must be prepared to have your offer rejected by the lender. It can be tough to not get your hopes up and get attached to a home before you have the keys in hand, but, just as with any other real estate purchase, there is a chance your offer will be rejected. It’s okay to be disappointed, but don’t allow rejection to keep you from pursuing other homes.

Are you ready to start including Arizona Short Sales in your home search? We have helped scores of Arizona homeowners buy short sales, and we fully understand the questions and concerns home buyers have about short sales, as well as the short sale process. Put our experience to work for you!