How does an Arizona short sale realtor determine sales price of a Short Sale?

 In my career as an Arizona Short sale realtor, most home owners know they are upside down, but are unaware of the process of calculating the price of their home.

Are you planning to sell your property? Here is a short guide explaining the factors, which decide the price of a short sale listing.

How does Arizona short sale realtor determine list price of a short sale?

There is a significant difference between the listing price and the actual sales price of a house. Let us find out some important factors and steps involved in calculating the right price of the listing and what determines the sale price. 

1.            An Arizona short sale realtor will visit you with a Listing Agreement and a price will be negotiated according to the market conditions and other factors like condition. Your realtor will explain the important factors deciding the value of your home including condition of your home, comparative analysis of other properties, current inventory, and sales volume in your area.
2.            Your realtor will include the Listing Agreement in the Short Sale Packet and send it to the lien holders on your property.
3.            Your lender will send put BPO (Broker Price Opinion) or perform an appraisal to find out the current value of the property. Each lien holder will do their own separate evaluation, using a 3rd party company. They may, however, take the listing price into account.
4.            In some cases, your lender may or may not open the price to your realtor. The negotiations usually begin with a certain percentage of the current value of the property.
5.            If the value is far above the lender’s budget or the real market value of the house, a dispute may be raised. The short sale realtor can send in supporting information and comps to try to make the pricing more reasonable. 

Get help from an expert Arizona Short Sale Realtor

Every lender will perform an evaluation check on your property. However, they are always very particular about the listing value of your house as listed by your realtor. It is always useful to have an experience Arizona short sale realtor in your team. An experienced listing agent will consider the market conditions and quote an appropriate price for your property. A price too low may attract many buyers, but delay the short sale process because the banks pricing is much higher. This may detract Buyers and the home may go to foreclosure. A price too high may detract buyers as well. 

The experience of your agent can be a critical difference between your short sale Arizona getting done successfully and the home going to Trustee's sale (foreclosure). 

Understanding the role of the seller in Arizona short sale

Does the opinion the seller matter at all? Do not get disappointed.. but the answer is no. Throughout the short sale process, seller is more often like a silent partner and have very little or no participation in the process.

Is there anything beneficial for a seller out of the short sale process? In addition to the end of negative equity, the seller might be paid by the bank. 

The amount is not disclosed at the initial level, but the bank offers a minimum of $3,000 credited to the seller after completing an Arizona short sale.

Are you looking for an Arizona short sale realtor? If you are planning to sell your property through an Arizona short sale realtor, call us today at 602-741-1602 for your FREE consultation and home valuation! We are always happy to serve you!