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FAQ

WHAT IS A SHORT SALE
(also known as a pre-foreclosure sale)

A Short Sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a Short Sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history and the partial control of the monetary deficiency.
Additionally, a Short Sale is typically faster and less expensive than a foreclosure. In short, a Short Sale is nothing more than negotiating with lien holders a payoff for less than what they are owed.
Jeff & Fawn Star have preformed literally hundreds of Short Sales in Phoenix, Glendale, Peoria and the surrounding cities in Maricopa County. They have worked with just about every bank out there and know all of the Short Sale policies and procedures that go along with each an every bank in order to execute and complete the Short Sale transaction from start to finish in a timely manner.

THE BANK

Remember banks are in the lending business, not the real estate business. TheyThe Bank cannot make money unless loans are made. Holding property in inventory does not make the bank money. In fact they lose even more money because the home is now vacant, subject to vandalism, maintenance and upkeep that does not stop. The bank also has to hire a property management company to oversee the property. Get the picture? The bank does not want the property. It wants to sell it. This is great for a first time home buyer. He/she can get a great below market buy.
Recently the demand for Phoenix Short Sales has definitely risen. We have been working on new systems to improve the Arizona Short Sale problem in regard to time frames and negotiating.

In Maricopa county the need for qualified Short Sale experts that have a proven track record is very important. We have that track record and know how after closing more Arizona Short Sales in one year then most agents close in their entire career. Being a Short Sale professional doesn’t stop there. Our Short Sale negotiating skills are top notch. We not only list Short Sales in Arizona, we negotiate Short Sales in other state for other realtors. We work with investors or home owners that would like to Short Sale, but they live out of state, no problem we can take care of the entire Short Sale process via email or fax. Give us a call or email to discuss your Short Sale options.