What is a real estate short sale? A short sale is when a homeowner has a mortgage(s) that is greater than the value of the home in today’s market. The seller asks for permission and cooperation from the bank to sell the property and to forgive the difference.
If you have enough patience, you can get a great deal on a short sale property. The homeowner avoids foreclosure and the negative credit that goes along with it. There are some programs that will even allow individuals who have a short sale on their record, purchase a new home as long as they have remained current on their payments.
The major downside of a Nampa Short Sale is the time frame for getting the discounting bank’s approval. Because that approval timeframe is out of either the buyer’s or seller’s control it can become frustrating and lead many home buyers to go looking for other properties.
A few of the other downfalls for these distressed properties in Nampa are:
- Your offer getting bumped by a higher one during the waiting process.
- Banks not agreeing to sell the property for your offer price, or even for the list price.
- Homes being foreclosed on before the short sale can be approved
Contact Homes Gone WILD! to help find Nampa Short Sales and let us assist in the intricate process of obtaining one of these distressed properties.
Click here to view a list of active Nampa Short Sales
Home Gone WILD! has years of experience of listing and selling hundreds of Nampa short sales. If you have questions about whether a short sale might make sense for your situation, please contact us for a no obligation and private consultation. We will help you understand the pros and cons of the short sale process.
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