Arizona Short Sale and Foreclosure Risk Management (Contract Law)
Short sales are rising in popularity as homeowners and lenders recognize their value in restoring the marketplace. Easier on credit scores, and often more profitable and less time-consuming for lenders, short sales are gaining market share across the country. They also come with more risk than standard transactions. To successfully obtain disclosures, protect clients, and avoid any hint of fraud or negligence, licensees must be fluent in all the local rules and processes. This 3-hour course was updated in 2012. The content is specific to Arizona, current, and applicable for licensees wanting more information about this growing market.
Course topics include:
- Options for homeowners in default
- Seller considerations and risks
- Using the Short Sale Addendum with a listing contract
- Buyer considerations and risks
- Using the Short Sale Addendum with a purchase contract
- Transactions involving foreclosed properties, trustees, and REOs
This course meets 3 mandatory hours of Contract Law in Arizona.