Frequently Asked Arizona Real Estate Questions
This page is dedicated to my Arizona real estate clients!
Buying real estate is can be a very technical process. This page is dedicated to my real estate clients in an attempt to anticipate the questions they will have in their search for the perfect Arizona home and property. Here are the most frequently asked real estate questions I receive!
Arizona Short Sales and Foreclosures
What is a "short sale"?
A short sale is when a bank agrees to sell a house at a loss, or for less money than is owed on the property. A bank will agree to do a short sale right before a home is foreclosed on. Foreclosures are very expensive for a bank, a bank in a attempt to lose as little money as possible can agree to a real estate short sale and sell a home at a loss.
What is a "bank owned property"
A bank owned property is when a home has been foreclosed on. When a piece of real estate is for sale as a bank owned property it has already been foreclosed on. There were no buyers for the home at the foreclosure auction and the bank is the owner of the home and has put it back on the market for sale.