Eagle Idaho Short Sale Homes
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Short sale homes in Eagle can offer a tremendous opportunity for buyers to purchase a home in a very popular community just 10 miles west of Boise at substantial discount. Eagle, Idaho experienced the new construction boom a few years ago and now over half of all sales are distressed; whether they are pre-foreclosure short sales or foreclosed homes that have been taken back by the bank due to the homeowners inability to keep up with the monthly payments. Buying Eagle Short Sale Homes.
Eagle Short Sale Homes for Sale
Eagle Short sales are approved by banks by agreeing to take less than what is owed to avoid the foreclosure process, which can be very expensive and time consuming. By accepting an offer before the foreclosure, the bank can cut their losses and not have to spend additional money on taking the property back, maintaining it, and paying taxes and insurance until it is back on the market as a bank owned foreclosure. Banks are usually more motivated to agree to a short sale due to the time and expense involved in the foreclosure route.
Buyers can capitalize on these short sales if they have done their homework on the market value, the current condition of the home, the estimated cost of repairs, and the potential for future appreciation. However, there are other factors that can make a huge difference in short sale negotiations that have to do with the seller. If the seller is not in default (late on payments), if they are considering bankruptcy, or if there are multiple lien holders this can potentially derail the short sale process. Other critical elements for the potential approval by the lender are the offer is not ridiculously low and the seller is experiencing a real financial hardship. One of the reasons the short sale process may not always be successful is that the process can take several months- the buyers may give up and move on to a different property or the home could actually be foreclosed on due to the scheduled the trustee sale.
Short sales truly can be beneficial for all parties involved. The Eagle Idaho real estate market offers many short sale homes available. The buyer can get a terrific discount on the home, the seller can avoid the sometimes-painful foreclosure process, and the lender can get the property off their books quickly by avoiding the foreclosure course of action. Perhaps most importantly, the community can benefit by not having vacant and sometimes run down properties that further affect the neighborhoods property values.
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Contact The Hughes Real Estate Group for more information or to view Idaho homes: (208) 571-7145.
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Listing information last updated on August 19th, 2017 at 3:52pm MDT.