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Can A Broker Price Opinion Kill Your Arizona Short Sale?

by Charlie Allred

Let me explain… What many of the large lenders will do is they will have an independent company or person come to your property with the intent of looking at the comparisons in your area and then assigning a sales price to the home.

Many times the price the bank comes up with will conflict with the price that your home will actually sell for on the market. Which means that your home may sit on the market while other homes in the area are sold. And of course, during this time, you are still no closer to being out from under a mortgage on a property that is more than the home is worth.

In the situation where your real estate professional puts together a Arizona short sale package and submits it to the bank containing your information and the price that they feel the home will sell for, then suddenly the bank receives a BPO in which the house is priced higher, they will almost always require the you to raise your asking price.

And, if you choose not to raise the asking price on your short sale, the lender will then force you into a foreclosure proceeding.

It’s very important to have an Arizona short sale expert on your side that will fight for you and negotiate with your lender to arrive at a marketable price on your short sale. That is to say a price that is currently right or that fits the going rate of homes in your area. Absent this correct pricing there is really no good that can come from and Arizona short sale.

Learn more about Arizona short sales today. Then, speak to a short sale expert to get your options and a real value on your potential short sale.

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