Purchasing or selling your Tucumcari home

Want to purchase a short sale?

A short sale means the seller's lender agrees to collect a reduced payoff to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm glad to address questions you have about real estate short sales.

Purchasing a short sale in Tucumcari, New Mexico on your own is risky. Contact McElroy & Associates for expert advice.

Are short sales bargains?

Sometimes. Often times people hear the phrase "short sale" and routinely think of a seller that is in financial trouble and needs to sell their house quickly to avert further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these instances the discounted price may in fact be in line with true market values, not below.

How do I buy a short sale?

Always do your research before making any offers. Using a qualified real estate professional from McElroy & Associates to support your research of a property can help you make informed decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding these facts can help you determine how much to offer.
Use a real estate professional with short sale expertise. McElroy & Associates can help expedite the transaction and make sure you're protected. Don't let inexperience impede the closing process. Put my knowledge and experience to work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that many short sales will not close in the customary 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will be presented to a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when working with a short sale. The lender will be selling the property just the way it is which means the lender isn't going to pay for repairs. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At McElroy & Associates, when I write an offer, I'm looking out for your interests first and foremost and will always suggest that you make your offer contingent upon the results of the inspections.

When it's time to buy, whether it's a short sale or a typical home sale, McElroy & Associates can help you. Utilize my experience and knowledge of real estate to be confident that you're getting a fair deal and will be protected during the whole transaction.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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