Arizona Short Sale - Step By Step
1. Contact Us - You fill out our "sellers" form on our website or call us so that we can walk you through it by phone.
2. Consultation - A member of our team will contact you for a free telephone consultation. Here you may ask questions about the process and what to expect. We will schedule a place and time to meet up and sign your documents. You will be expected to gather important documents so that we can get the ball rolling on the process quickly.
3. Time To Sign - We come out to your home to sign documents. Your lender will require that the home be listed so that they can get an idea of how many offers are coming in. The first step is to sign the "Realtors" listing paperwork and the "Negotiators" paperwork.
4. Submit Short Sale Offer - A complete package including your hand written hardship letter, your financials, a authorization to release information and our short sale offer is faxed our mailed to your lender(s).
5. Broker's Pricing Opinion - Your lender will coordinate for an current estimate of full market value. They do this for two reasons. One to be sure the offers that are coming in are about what the current full market value is and two since there is a possibility they will be the owners after foreclosure they need to know what the home is worth.
6. A Loss Mitigator Is Assigned - A representative from you bank
7. Offer is Accepted/Countered - The lender may have to justify the amount of the offer or the terms of the offer. They can either accept the first offer or counter offer. Ultimately they will accept the best offer.
8. Open Of Escrow - A date is set so that all parties may come to sign at closing.
9. Success - You walk away from you home and into a new lease/option home or rental. The bank avoids thousands of dollars in losses. We will own your home at today's market value and place a renter in the property.