June 25, 2017

Short Sale Houses in Phoenix Metro Area

Buy a Short Sale Property In PhoenixA large number of the homes for sale in the Valley right now are short-sales.  A short-sale is when a property is sold for less than what is owed on the loan or mortgage.  This type of sale does require the mortgage or lender approval and can be a lengthy process – but buying a short-sale property is also a great way to pick up an awesome deal on either a move-in ready home or a house that needs some work for instant equity.

For example, John Seller bought and financed his Chandler home in 2007 for $300,000.  Today, his home is worth $200,000 and Suzie Buyer wants to buy his house for $160,000 because it needs some work and she wants to make some money flipping the home!  John Seller and his lender agree to sell Suzie Buyer the home for $160,000 making this a short-sale with a difference of -$140,000 between what was owed on the property versus what was paid for the property.

Click on the links below to search for Pre Approved Short Sale properties around the Valley.