Short Sales and Foreclosures
The Long Realty Short Sale Resource Center provides you helpful information on short sales, the short sale process and how to search for short sale properties. Articles are provided by the Long Realty Short Sale Resource Group, a collaboration of Long Realty agents and managers with an expansive knowledge of short sales.
Helpful Short Sale Tips and FAQ
Q: How long do I have to wait to buy a new home after I have had to do a short sale on a previous home?
Q: What are the first steps to getting ready to purchase again?
Q: Will a large down payment be required when I do want to enter the housing market again?
Q: Is there any difference in getting back into the market, if the short sale was an investment property or a primary residence?
Find the Answers to These Questions
Short Sales and Bank Owned Properties
“Short sales” and bank owned properties can present buying opportunities. Be aware though that purchasing these types of properties will require additional approvals from the property owner's lender(s), and therefore often lengthen and complicate the transaction process.
Short Sale / Pre Foreclosure
A “short sale” is a real estate transaction in which the sales price is insufficient to pay the loans(s) encumbering the property, in addition to the costs of sale, and the seller is unable to pay the difference. The approval of the seller’s lender(s) is required for the sale to proceed.
Foreclosure / Bank Owned Properties
The legal process by which a lender or creditor exercises its legal rights to sell the property which was security for its loan at public auction and the owner's rights are terminated. Bank Owned Properties are those properties where the property was acquired by the former owner's lender after such an auction.
New Listings of Arizona Foreclosed Homes
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