When you find yourself in a difficult financial situation and up against the ticking clock of foreclosure, you may feel, well, a little panicked. You may have never seen yourself in this situation when you purchased your home and now you haven’t the slightest clue as to what to do about it. If you would like to save your credit, be free of your mortgage payment, and start over with a clean slate, an Arizona short sale might be right for you. But, finding a short sale agent can be a daunting task. Listed below are a few tips on finding the right person to help you proceed with your Arizona short sale.
Did you know that there are over 70,000 real estate agents in the Phoenix metropolitan area alone? While that number can seem overwhelming, know that less than 1% are specialists in the Arizona short sale industry. Obviously, step one would to be find yourself one of those.
Do your research! Find an agent that has dealt with circumstance similar to your own and can help you through the process. Don’t just go with the first Joe-Schmo that tells you he can get you a great deal. Find an Arizona short sale specialist with expertise and a reliable, dependable reputation.
Unfortunately, much like any other industry involved with money, there are scams and fraud in Arizona short sales. Here are a few red flags to look out for when looking for a short sale agent:
*An absolute guarantee to stop foreclosure. All short sale agents would love to promise this, but they simply can’t. Especially without knowing where you are at in the foreclosure process and if and when a foreclosure auction date has already been set.
*Instructions to not contact the lender. This should never be the case. Communication is key in the short sale process so you need not allow a short sale agent to get between you and your bank. You are the ones making the decisions because it is your money and reputation at stake.
*Upfront fees. Quite simply, don’t fork over any money you don’t have to a person you might not trust. It’s simply not worth the risk. Remember, if it sounds too good to be true..IT IS!
*A promise that you can buy the house back. Again, every agent’s dream to tell their clients this, but it doesn’t always happen