Buying A Home After A Short Sale

Real Estate Agent with Keller Williams Integrity Bob Lucido Team

I get asked by my short sale clients very often how long it will take before they can buy a home again after the short sale on their current home is settled. I have known that it generally takes about 3 years to rebound back from a short sale. I just received this bit of information from a collegue which I found to be very interesting...

  If the borrower was on-time with their mortgage and consumer debt for the 12 months prior to and including the date of the sale they would be eligible for a new purchase with no waiting time. No hardship needs to be shown, however the borrower becomes ineligible if they are seen to be “playing the market. “ IE…buying a like property as the short sale, at a lesser sales price, within the vicinity of the short sale property.

Posted by


Valerie McNeal

Keller Williams Realty Centre of Greater Howard County

6230 Old Dobbin Ln, Suite 150

Columbia, MD 21045

304-704-8129 Cell

443-405-3587 Direct



Comments (3)

Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

Very interesting indeed... It is hard to keep up with all these changes in the rules... You have a great day Valerie...


Mar 07, 2013 08:50 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Valerie:  This is a surprise to me.  From the sounds of the payment requirements, cases like this don't sound like hardship cases, but more like "strategic short sales" where the owner is treating doing a Short Sale more like it's a business decision.

I have negative feelings about strategic short sales.  I don't think it's fair.  I am 100% in agreement with anyone who faces a short sale because of a hardship case, though.  To me, there is quite a difference between the two sets of circumstances.

Mar 11, 2013 02:40 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Valeria:  Seeing your post takes me back to the two years I lived in Columbia... on Tamar off Snowden River Pkwy, I think.  I really loved Columbia, and also Ellicott City.  And, of course, who could forget having lunch on the shores of Lake Kittamaqundi.  :)  What a beautiful area.

Mar 11, 2013 02:48 PM