George Howell Ward · Arizona Real Estate Salesperson SA528635000 · Landmark ACM, LLC (commercial brokerage) · Advertisement (ADRE R4-28-502)
Not legal, financial, tax, or investment advice. George approaches real estate as a licensed AZ real estate salesperson — not an attorney, law firm, CPA, or investment adviser, and nothing here is the practice of law. For your situation, consult your own attorney and CPA; we may refer you to specific licensed professionals but are not qualified to practice law.
What we are licensed to do. As a licensed Arizona real estate salesperson (under our designated broker, Landmark ACM, LLC), Arizona law lets us negotiate your real estate or lease terms and prepare the standard transaction documents — at no separate charge for the paperwork. What we can't do: interpret the law for your situation, advise you on your legal rights, or draft custom legal documents — that is your attorney's role. For legal questions, consult your own attorney; for tax, a CPA.
Know the difference
Short sale vs. foreclosure
When a property is worth less than the loan, two paths come up most: a short sale and a foreclosure. They're often confused, but they're very different in who's in control and what happens next.
Short sale
In a short sale, the owner sells the property for less than the loan balance with the lender's approval to accept the shortfall. It's owner-initiated and cooperative: the owner stays involved, markets the home, and works with the lender's approval process.
Foreclosure
In a foreclosure, the lender enforces its lien and takes the property back after default. It's lender-driven, follows a legal process, and the owner generally loses control of the timeline.
Why people often prefer a short sale. It can be less damaging and more orderly than a foreclosure — but it isn't automatic, and the legal, tax, and credit consequences vary by situation and state. This is not legal or tax advice; talk to an attorney and a tax professional before choosing a path.
Important. This is educational only — not legal, tax, or financial advice, and not a substitute for an attorney or CPA. Distressed-property decisions have legal and tax consequences; consult a qualified attorney and tax professional about your specific situation. George Howell Ward is a licensed Arizona real estate agent (SA528635000), not an attorney, and this is not a law firm.