Arizona short sales are simply a method to help you avoid foreclosure… And, one of the most common questions I am able to recall getting from people either considering a short sale or even just beginning the short sale process is that of cost. You will fork out absolutely nothing extra! In fact, the lender will usually end up paying your expert a commission fee.
Well, the good thing is that an Arizona short sale procedure does not require any payment for services over and above what would be regarded as normal in a real estate transaction. Now, there is no legal precedent for what normal commissions are, yet typically it is 6% paid via the seller.
So just know that a short sale is an arrangement between you and the lender where they accept less than the loan amount for payment. A real estate agent working the short sale can be compensated as they would in any other normal sale. They’d be paid out of the proceeds from the transaction whatever payment they are due. So, its really a attractive option for an individual in a difficult spot financially in that you will not have to “pay more” for the service.
In addition to the extra paperwork and negotiations necessary to bring the transaction towards a close, on the outside looking in it will seem to be a normal sale. This means you need not worry about needing to come up with extra money to pay for an Arizona short sale… Don’t forget, the commission payment is treated very much like each and every normal realty transaction.
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