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Arizona Department of Real Estate creates a Short Sale Seller Advisory
January of 2010 the Arizona Department of Real Estate created a Short Sale Seller Advisory. This is a very helpful document that Real Estate agents can share with their Sellers who are considering a Short Sale on their home. Much thought and consideration went into the preparation and below is a hyperlink to the document and the bullet points of what it covers. Other states that don't already have a Short Sale Advisory for their Real Estate agents could look to Arizona for helpful guidelines in developing their own. Many of the headings in addition to an explanation have their own hyperinks for more clarification, direction and understanding. http://www.aaronline.com/documents/ssseller_advisory.pdf Before Proceeding with a Short Sale Understand a Lenders Options upon Loan Default Be Aware of Pedatory "Rescue" Scams and Short Sale Fraud Contact a Free HUD-Approved Housing Counselor or Contact Your Lender Directly Utilize Free Services Available to Arizona Residents Obtain Legal Advice Obtain Tax Advice Be Aware of the Consequences of Committing "Waste" Options other than Short Sale Consider All Options Loan Workout Loan Modification Refinance Deed-in-Lieu of Foreclosure Work Out Sale Bankruptcy Foreclosure Short Sale Considerations Contact ... more
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