Purchasing or selling your Tucumcari home

Ready to make a deal on a short sale?

A short sale means the seller's lender agrees to accept a reduced payment to release a mortgage.

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

Can I get a bargain on a short sale?

Sometimes. Many people hear the words "short sale" and automatically think of a seller that is insolvent and must sell their house promptly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In cases such as these the reduced price may in fact be in line with true market values instead of below.

Are you ready to buy a short sale property?

Always do your research before making any offers. Using a knowledgeable REALTOR^® from McElroy & Associates to support your research of a property can help you make knowledgeable 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. Locating these facts can help you make a decision about how much to offer.
Get a REALTOR^® with short sale experience. McElroy & Associates can help expedite the transaction and ensure that you're protected. Don't let inexperience hold up the closing process. Put my knowledge and experience to work for you.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in 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 seen by a committee for approval, which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are typically not negotiable when buying a short sale. The lender will sell the property as seen which means the lender will not be paying for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At McElroy & Associates, when I write an offer, I will be looking out for your interests first and will always advise you to make your offer contingent upon the outcome of the inspections.

When you are ready to buy, whether it be a short sale or a typical home sale, McElroy & Associates is available for you. Apply my experience and knowledge of real estate to make sure you are getting a fair deal and are protected during the full 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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