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Your Arizona Short Sale: Who Is Negotiating Yours?

by Charlie Allred

Imagine you want to look into an Arizona short sale in order to sell your home, because you owe more than it is worth… So you go to the phone and maybe you contact the agent who sold you the home. After all, he gave you that cute refrigerator magnet with his name and number on it so he is the first person you think of… Anyway he answers your call and says, “Yes, I do short sales”. You then proceed to do business with him because you simple can not afford your mortgage payments and you want to start fresh.

the arizona short sale text

An Arizona short sale may help you get back on track financially.

Well, the real question you should ask him prior to the short sale is, “Who will be negotiating with my lender?” This is of the utmost importance! Your negotiator will be contacting your lender regularly… At least he should be in order to get updates and ensure the deal goes through.

Within the Arizona short sale process, a couple of options for negotiators exist:

  1. The real estate agent performs the negotiation. This is my personal preference. I like to have some control over the deal and continue to communicate with the buyer to maintain his attention. I understand my duty is to my seller to get the short sale completed so they can move on with their lives in this scenario.
  2. The real estate agent hires a third party negotiator. This could be another real estate agent or a company who specializes in negotiating these deals.

The third party negotiator in an Arizona short sale may pose a few problems. The negotiations could be extended by this extra layer of communication and create frustration on the part of a buyer who may choose to walk instead of wait. Further the real estate agent with whom you are working may not be up to date or informed on the status of your deal. He may not be able to tell you how far along your deal is which may create frustration for you, the seller.

The last thing you want as a seller is another barrier between you and your goal! Be sure to find out who is negotiating on your behalf. You will have a much better experience.

Learn more about the Arizona short sale process.

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