Purchasing or selling your Tucumcari home

Want to buy a short sale?

If a homeowner owes more on their home than its value, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for an amount less than what's due.

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

Are they good deals?

Sometimes. Most people hear the words "short sale" and instinctively think of a seller that is in default and must sell their property promptly to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these cases the reduced price may in fact be closer to true market values rather than below.

What's involved in buying a short sale?

Before you make any purchase offers, do your homework. Using a qualified real estate professional from McElroy & Associates to assist you with researching a property can help you make educated decisions. We can help learn to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you determine how much to offer.
Hire a REALTOR^® with short sale experience. McElroy & Associates can help expedite the transaction and ensure that you're protected. Don't let inexperience slow down the closing process. Put my experience and knowledge to work in your favor.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Be aware that most 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 terms of the sale. It's not uncommon that your offer will be presented to a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are normally not up for negotiation when working with a short sale. The lender will sell the property as seen which means the lender isn't going to pay for repairs. Make sure you 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 am looking out for your interests first and will always recommend that you make your offer contingent upon the inspection results.

When you're ready to buy, whether it is a short sale or a typical home sale, McElroy & Associates can help. Utilize my experience and knowledge of real estate to make sure that you are getting a fair deal and protect yourself during the whole matter.

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.

Your Information

* Name:

* Email:

Phone:

Street Address:

City:

State:

Country:

Zip/Postal Code:

Some Details

When Are You Moving?:

Where Are You Moving:

Your Price Range?:

Number of Bedrooms?:

Number of Bathrooms?:

Size In Square Feet?:

Any Comments, Concerns, Or Questions:

SMS Messaging:

By checking the box, you agree that McElroy & Associates may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.