Scottsdale Short Sale Homes for Sale

Two years ago many buyers stayed clear of making offers on Scottsdale Short Sale Homes for Sale because of the uncertainties. At that point and time the short sales represented over 30% of all contracts being written.

Search Scottsdale Short Sales

There are not as many houses short sold as there were, but there are some available for the picking. The key to being successful as a buyer, making an offer on a short sale, lies in the questions you ask.

Questions Buyers Should Ask Short Sale Listing Agents:

  • How Many Loans are on the property?
  • What type of loans? (first, 2nd, HELOC, etc.)
  • Is the borrower late on any payments?
  • Is the Short Sale Packet complete (all documents filled out)
  • Is this a HARP approved short sale?

The answers to these questions should have bearing on a buyer's decision to make an offer. The buyer needs to decide up front if they have the time, money, energy and desire to wait out the short sale process. Even though many are getting approved and closed in reasonable time (2-3 months) some can take as long as 6 - 12 months or more. Worst case scenario is that buyer and seller agree to terms and price and several months later the bank chimes in and demands something unreasonable of the buyer or seller such as a higher price or unacceptable terms.

Rewards for Buying a Short Sale

There are benefits for buyers who make offers on these distressed properties. The advantages can certainly outweigh the disadvantages and the results may be something to write home about. Here are a few Attractive Reasonsto Consider Buying Pre-foreclosure Properties

  • Price - Banks are quietly desperate; they may sell the home slightly below market value just to be able to move on.
  • Competition - Not all buyers are interested in these kinds of contracts. You will find that the offer line is shorter (no pun intended) for these complicated transactions.
  • These homes are generally better maintained than a home where the seller is letting the home go because they are committed to letting it foreclose.

Want to Buy a Short Sale?

If you are ready to get in the game and elude the buying competition for your next house in Scottsdale a short sale may be the right path for you. Text or Call me at (602) 558-3843 and let's talk about how I can help you with your home search.

Scottsdale Short Sale Houses

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