What is a short sale?  A short sale is a property in which the owners are usually behind in the mortgage payments and the bank will most likely foreclose on the property within a few short months. Visit the following list of County Short sales with listings and pictures of current homes for sale.

Ada | Canyon | Gem

Why is a short sale a good deal for qualified buyers?  Buyers in search of a “good deal” may want to consider a short sale property if the numbers work out.  Most mortgage companies will accept a reasonable offer to get the property off of the books. 

What is the process to buy a short sale property?  The process in the beginning is the same as if you were dealing with the seller themselves.  Contacts are written and signatures are obtained by the buyer and the seller.  The difference now comes with the contract being submitted to the lender for approval of the contract.  This process could take several months to be determined. 

Lenders and mortgage providers are still trying to obtain “fair market value” for the sale of the property.  The downside to a short sale is the time involved and the fact that the property may get several contracts at the same time.  The lender then decides to accept any one of the contracts on the table. 

If you are interested in further information on the short sale process just give us a call!