As further evidence that Short Sales are not going away anytime soon in Arizona, the Arizona Association of Realtors (AAR) and the Arizona Department of Real Estate have created a Short Sale Seller Advisory.
The Short Sale Seller Advisory is five pages long. It is intended to be used to educate sellers about the different issues and the legal and financial risks of selling “short”. The Advisory has different sections; What to do before proceeding with a short sale, Options other than a Short Sale, Short Sale Considerations and a Seller Acknowledgement. The acknowledgement states that it is intended to be used for general information purposes only and that it is not intended as legal or other professional services or advise.
If you intend to list your home as a short sale, be sure you realtor provides the Advisory to you. Read it CAREFULLY and address any areas of concern before signing the document. Information in the Advisory will be updated as needed.
To see a copy of the latest version of the AAR Short Sale Seller Advisory, click on the following link: http://www.aaronline.com/documents/ssseller_advisory.pdf
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