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The Caniglia Group has years of experience with short sales and has successfully closed numerous short sale transactions. Please call us if you have any questions about how these transactions work or would like to get started on buying or listing a short sale property. We can walk you through the process and help you understand what to expect. Below are some questions that will help you get started if you are thinking about short selling your home.
WHAT IS A SHORT SALE?
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. A short sale is contingent upon an agreement between the seller and the seller's lender(s), acceptable to both, to sell the property for less than the loan amount(s).
IS SHORT SELLING MY BEST OPTION? DO I QUALIFY?
The safest and most productive way to answer these questions is to seek the advise of a real estate attorney. Here are a few local recommendations:
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Scott Drucker - Mack, Drucker and Watson
Office #: 602-778-9900
website: www.mackdruckerwatson.com
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Doug Farnam - Thompson Conant, PLC
Office #: 602-326-6552
website: www.mortgagemediationgroup.com
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Irving Hymson - Hymson, Goldstein & Pantiliat, P.C.
Office #: 480-991-9077
website: www.legalcounselors.com
HOW LONG WILL THE SHORT SALE PROCESS TAKE?
The process can take weeks up to several months. From the time a contract is submitted to the bank to the close of escrow, expect an average of 90 days. However, the length of time can vary widely depending on the bank you are dealing with.
OTHER THAN A REAL ESTATE ATTORNEY, WHO ELSE SHOULD I TALK TO BEFORE I GET STARTED?
Call a real estate expert (The Caniglia Group!) and your tax attorney. There may be tax consequences to short selling your property. Make sure you have all of the right information from licensed professionals before you move forward!
Short Sale Disclosure Statement Required By MARS
The Caniglia Group at Realty Executives is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
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