What is a Short Sale?

Simply put- A "Short Sale" is a sale forced on a homeowners by lenders -lien holders due to the owners financial condition.In short the home owner owes more on their mortgage(s) than property can sell for in the current market. The short sale period can legally trigger after the payment due is missed.See detailed chart below of the short sale process under current Arizona law

A short sale is completed when a lender agrees to accept less than a homeowners owes on their property (basically you owe more on your mortgage(s) than your home's current market value) and therefore your sell your home with a loss-you (the homeowner) have negative equity!

Mortgage holders agree to short sales order to cut their losses* and ostensibly avoid a costly and time consuming foreclosure procedures (typically 90-150 days or more).  As noted above this is usually done when a home owner is in difficult financial circumstances and owes more than the current market value of their property-usually not what they originally paid for the home.

* Bank losses include your negative equity which must eventually be charged off against their balance sheet and that means they can loan less so their potential losses are greater than just negative equity and that is the primary reason they accept" short sales" on their loans. Of course forclosures cost banks/lenders money but on the other hand they take a "hit" on their balance sheets when they foreclose causing ther stock prices to drop in value! If you are following the above it means banks are trapped in a vise ! An expert loan negotiator working for the homeowner can take advantage of this bank "accounting game" and help the distressed home owners and buyers save thousands of dollars

Note: Short Sellers- Be sure you understand the difference between pre-forclosure- short sale- and foreclosure!- Pre-forclosure is defined as the time before actually missing a payment ! It is the best time for a Short Seller to actually start their home sale process

To repeat:

To qualify for a "SHORT SALE" typically the homeowner MUST be in some type of financial hardship, where circumstances are such that they MUST sell their home.  A financial hardship circumstance can include a loss of employment or income, divorce, relocation, increased medical expenses or illness in family, poor condition of property without resources to make repairs, or even vacant investment properties that are damaged or can't be rented. 

Lets talk solutions!

If you are in financial hardship, and owe more than the value of your  Home, I will guide you through the short sale process, market and help find a buyer for your home, and work with your lender to negotiate a short sale on your home.

The best part is that my services  are at no cost to you! 

In a short sale, I require ALL your Short Sales closing costs to be paid, (including the real estate brokerage fees) by  your mortgage holder or the Short Sale Buyer!

What are the "SHORT SALE" benefits to me as a SHORT SELLER ?

• Transfers the  Negative Equity in your home to the your lender .Your Lender must find a Buyer -"SHORT SALE BUYER"

• You Avoid Foreclosure and prevents major drop in your credit ratings

• Relieves stress BY ELIMINATING MONTHLY YOUR MORTGAGE PAYMENTS IMMEDIATELY

• Foreclosures take 6-12 months If you are paying a lender $1500/month your potential savings are $9000 to $18000 and it's legal
• Don't offer partial payments from savings then be foreclosed

  Allows you a "clean" start over -Due to the meltdown of home values; rental homes for the same type of home cost much less than your current monthly mortgage payment ,taxes and maintenance!

A Short Sale requires a fully qualified Realtor and expert Short Sale Negotiator
We offer you a complete single source for selling your home via a Short Sale   - and no fees to you!

Please act now and save thousands of dollars! Call 480 540 4793 now and ask for Frank

Below is the legal foreclosure time line in Arizona to assist you in you planning and understanding the definitions and terms mentioned concerning foreclosures

Who-What are "SHORT SALE BUYERS"?

SHORT SALE BUYER types vary , but they are financially qualified buyers who buy SHORT SALE homes as  a form of investment or  as a 1st or 2nd home or for retirement

Request More Information or call me immediately to discuss you situation

Frank Lipsky Arizona Model Homes-Foreclosure -Short Sales Division 480 540 4793