Purchasing or selling your Tucumcari home

Want to make a deal on a short sale?

A short sale means the seller's lender consents to get 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 good deal on a short sale?

Every now and then a good deal will come along. Most people hear the phrase "short sale" and automatically think of a seller that is in trouble and needing to sell their property quickly to prevent 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 declined. In these instances the discounted price may in fact be consistent with current market values rather than below.

Are you ready to buy a short sale property?

Before you make any purchase offers, do your research. Using a knowledgeable real estate agent from McElroy & Associates to support your research of a property can help you make informed decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Getting these facts can help you decide how much to offer.
Use a real estate professional with short sale experience. McElroy & Associates can assist you in expediting the transaction and ensure that you're protected. Don't let inexperience hinder the closing process. Put my experience and knowledge to work in your favor.
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 aware that many short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. In most cases your offer will go before a committee for approval, which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when working with a short sale. The lender will sell the property "as is" which means the lender won't be paying for repairs. Always reserve the right to have 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 above all else and will always advise you to make your offer contingent upon the inspection results.

When you're ready to buy, whether it be a short sale or a typical home sale, McElroy & Associates can help. Apply my experience and knowledge of real estate to make sure that 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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