Short Sales in NH may be a good solution if you are looking to either sell or buy.
On the Sellers side - if you find it getting more and more difficult to make your mortgage payments and have had your home on the market at a price that will "get you out from under", perhaps you may need to reconsider your pricing and face the fact that the market, as it is right now, will not bear the price you need to get to help you break even. Here are some options you may need to consider;
1. take your home off the market and continuing to pay the mortgage until the market rebounds.
2. repricing your home to sell quickly even though you may come up short and work out the shortfall with your lending institution.
3. stop paying the mortgage and allow your home to go to foreclosure.
On the Buyers side - if you are looking to get a home at a great price in this market then you are probably looking at foreclosures but have you considered a short sale?
On a foreclosure sale you are buying the property "as is" and that can sometimes be scary since the home has probably been empty for a period of time and possibly had burst pipes, broken windows/doors, been left in a less than desirable condition and need some substantial work to get it livable. Not to mention that for each foreclosure home there are sometimes several buyers who want it, if it is in decent shape, giving you a lot of competition to actually get it under agreement.
A short sale property, on the other hand, typically has the seller living in the home and maintaining the systems making the property more desirable. You will have a property disclosure given by the seller that will tell you as much about the property as they know rather than a disclosure that says everything is unknown because the seller/bank has never even seen the property.
If you are looking to "SCORE" on a real estate deal, you may just want to consider a "Short Sale" in NH.
Judy Tuscano, REALTOR
Team Tuscano
Prudential Verani Realty
603-498-2263 cell phone
603-693-0919 office direct
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