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Tucson Real Estate Agent Explains Short Sale

May 20, 2014

If you are underwater on your home, behind on your payments or just need to sell you may be wondering what alternatives are available to you if a traditional sale isn’t an option. Tucson real estate agent Shawn Polston would like to tell you about short sales, the process and how it can potentially help you out of your difficult financial situation.

First and foremost, a short sale is when you get approval from your lender to sell your home for less than what you owe. There are lots of myths floating around about short sales that simply aren’t true, so be sure you get all of your short sale information from an experienced Tucson real estate agent. It is also important to know that you have to work with a Tucson real estate agent to short sale your home; you cannot complete a for sale by owner if you wish to short sale.

Once you have met with a Tucson real estate agent to determine if it’s the best option for you, you’ll need to compile some documents to create your short sale package. This package is submitted to your lender and outlines your financial situation as well as outlines under what conditions you need to complete a short sale. Once this is completed your Tucson real estate agent will submit it to your lender, list and market your home and find a buyer. Once the buyer puts an offer in on the house, the Tucson real estate agent actually negotiates the terms of the sale with the lender instead of the buyer’s agent. This can, at times, take a little longer than with a traditional real estate transaction, however many lenders are streamlining their processes making the time to close a short sale much shorter.

If you are facing a difficult financial situation or need to sell your home for whatever reason, please contact Tucson real estate agent Shawn Polston to discuss the possibility of a short sale. Short sales have helped homeowners throughout the area get a fresh financial start and you can do the same.

Seller Financed Homes Are Eligible For Short Sales

April 15, 2014

I wanted to talk to you today about something that is kind of interesting. As long as I’ve been working with short sales and have been helping well over 400 people successfully complete their short sales, I sometimes still get questions that throw me for a curveball. I had someone call me the other day that had spoken with another real estate agent regarding their particular situation. The other real estate agent had told the homeowner they couldn’t do a short sale because their mortgage was a seller carry back or a seller financing mortgage. When I hear something like this, it makes me get out my video camera and make a video to post online to let everyone know that this just simply isn’t true. If you’ve purchased a property, there was seller financing on it and you find yourself in a situation where you’ve had a life change or want or need to move, you can complete a short sale so please don’t hesitate to contact us. We’ll get in contact with the lender and seller that financed the property for you. We will work with them to find out what your options are. We can avoid having them foreclose on the property and get you on the right road to a fresh start.

Again, if you have a loan that is seller financed, don’t let anyone, whether it is a friend, family member or another real estate agent, tell you that you can’t complete a short sale because this is absolutely untrue. To find out the truth and learn more about completing a short sale on your seller financed home, please pick up the phone and give us a call or fill out the short sale request form online and we will be in touch with you soon.

Tips for Buying a Tucson Short Sale

April 8, 2014

While a Tucson short sale can be a worthwhile investment, you do go into the process with many different factors that would exist in a normal contract. With this in mind it stands to reason that you would deal with a Tucson short sale differently. Read on for some important tips when it comes to working with short sale negotiations.
First, check the facts yourself. Don’t trust someone else’s opinion of what the house is worth. Get your own facts so that you can back up your offer with information you know to be correct.
Second, make sure the information is current. A Tucson short sale may stay on the market for a long time, and during that time the market can fluctuate. What does that mean for you? It means that the value of the home is going to change over time, and the estimated home value that is offered by the bank may be incorrect by thousands of dollars.
Third, get an inspection. Because a Tucson short sale is on the market for such a long period of time there can be issues that come up simply because the home has been sitting. The bank may conduct an inspection of the property, but you before you submit any paperwork you want to make sure that you conduct a current inspection so that the current value of the home can be established.
Finally, trust your Realtor. To work with a Tucson short sale you are required to work with a Realtor. They are the only people that are authorized to work with the bank to submit and offer. A Realtor that specializes in short sales can help you submit an offer that is more likely to be accepted. They can help you fill out all of the necessary paperwork. Even if you could work through the Tucson short sale process without a Realtor you wouldn’t want to. He or she will be a powerful advocate for you.

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About Shawn Polston

Shawn has been a Realtor since 2006. Prior to becoming an agent Shawn and his wife were active real estate investors. Shawn takes his education seriously; he’s taken over 200 hours of continuing education classes, to keep up-to-date on current laws and trends. Shawn is a member of the Arizona Association of Realtors Master of Real Estate Society and a Graduate of the Realtor Institute. He is also a HAFA certified Short Sales and Foreclosure Specialist in addition to being a National Association of Realtors Short Sale and Foreclosure Resource.

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