Many of life’s problems can cause a homeowner to go upside down on their mortgage. A death in the family, a divorce, or the loss of his job may mean that he can no longer afford his home. In Phoenix, Arizona, short sales help those who are desperate to get out of their mortgage payment without facing foreclosure. While having to sell your home is never a pleasant experience, you want to do what’s best for you and your future.

How does a short sale work? It is recommended to have a certified licensed real estate agent help you with the process, as it can be lengthy if you do it on your own. Foreclosure affects your credit rating for years and often prevents you from buying another home. No one wants to go down this road unless there is simply no other option; Fortunately, a short sale may be your best bet. If your bank is willing to sell your home at a loss, find a good real estate agent to find a buyer for your home.

What often takes a long time is going through the process of finding a buyer for your home. The buyer proposes an amount that he wants to pay for his house, then the bank must approve it. If the buyer offers a ridiculously low amount, the bank may reject the sale. Then you start over from step one. When you hire a certified distressed real estate agent who is experienced in the short sale process, they know how to handle buyers, lenders, and anyone else involved so time isn’t wasted. You want to get things up and running and hiring an agent is your best option.

Why would your bank settle for less than what is owed on your home? They prefer to suffer a loss than to have an empty house. If the buyer gets an amount that is acceptable, he has sold his house. This means he can get out of those monthly payments without completely destroying his credit and without the embarrassment some feel when facing foreclosure.

The truth is that banks handle money and don’t really want to own property, which is essentially what happens in foreclosure. They prefer to get a fair market offer, and when a buyer offers an amount in this range, that is often all that is needed. Do you live in Phoenix and find yourself in dire financial straits? Consider a short sale and hire the best real estate agent you can find to help you find the perfect buyer for your home!