There are many questions surrounding short sales and even some real estate agents are unable to thoroughly and accurately answer these questions. AZ real estate lawyers are generally the best people to get in touch with when you need a short sale question answered simply because there are several different issues and extenuating circumstances when it comes to buying or selling a short sale property. AZ real estate lawyers are familiar with all aspects of real estate law in the state of Arizona, especially when it comes to short sales.
Some of the questions that they are most frequently asked have to do with short sale negotiation regulations. AZ real estate lawyers explain that either a real estate license or loan originator license is required to negotiate a short sale; the type of license a professional needs can depend on several different things surrounding the nature of the transaction. One common misconception that many buyers and sellers have is that real estate agents can receive additional compensation for negotiating a short sale. AZ real estate lawyers say that, yes, they can receive additional compensation but only if they are licensed by the Arizona Department of Financial Institutions; if they are operating under only their real estate license they should not be receiving additional compensation. Also, a common issue that AZ real estate lawyers find is that some Arizona sellers completing short sales try to use a negotiator that is from out-of-state; this does not fall within the state’s regulations. AZ real estate lawyers say that in order to negotiate a short sale for an Arizona seller, the negotiator must hold an Arizona license.
As you can see, even the regulations for negotiating short sales can be tricky; that’s why AZ real estate lawyers encourage you to contact them when facing a foreclosure. They are experienced not only in the legal side of the transaction but also in the real estate side and can give you 100% of the advice and services that you are looking for.
