Local: (480) 543-9366 | National: (888) 683-5771

Table of Contents

Does Your Real Estate Agent In Tempe Know All Facets Of A Short Sale?

Do you need to sell your home but are underwater? Are you looking for a real estate agent in Tempe that can show you what your alternatives are at this point? The team at Wells Realty and Law Groups say that the best option for underwater homeowners is probably a short sale. Of course, this is dependent upon your situation, but with a short sale you are provided one thing that many other options can’t give you: a chance to start over financially.

Of course, when you complete a short sale there are a number of different things to be aware of, which is why it’s so important that you work with a real estate team in Tempe that can inform you of all you need to know beforehand. For example, with a short sale normally the homeowner is required to pay taxes on the amount that their lender forgives them. However, if your real estate agent in Tempe is knowledgeable with regards to short sales they can tell you that currently the Mortgage Forgiveness Debt Relief Act exempts many homeowners from paying taxes on this forgiven amount. Also, short sales can come with legal and credit consequences. Is your real estate agent in Tempe experienced enough to know what they are? The veteran team at Wells Realty and Law Groups is and they can tell you exactly what the legal and credit risks are when completing a short sale; they can also tell you how to avoid those risks and make your short sale as positive as possible.

The bottom line is that when you’re completing a short sale on your home, you need to have a team behind you that understands and knows all aspects of selling your home as a short sale on the real estate market in Tempe. To find out more information about completing a short sale on your home and getting the most comprehensive real estate services in Tempe, contact Wells Realty and Law Groups today.