Kuna Idaho Short Sale Homes
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Kuna, Idaho offers some fantastic buying opportunities on short sale properties. If you are looking for a bargain on a home, you cannot help but notice how many short sales are on the market. Buying Kuna Idaho Short Sale Homes.
Kuna Short Sale Homes for Sale
Kuna Short Sale Homes for Sale
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Kuna ID Short Sale Properties
In Kuna over 60% of all sales last year were distressed and this includes short sales. Short sales are priced very low to entice buyers to make an offer and stick with the often drawn out process waiting for approval. Short sales occur when a seller is behind on their payments and the lender agrees to take less than what is owed on the mortgage. The seller benefits if they do not have to go through the foreclosure process, the lender wins by clearing the property off their books quickly, cutting their losses, avoid having to take the property back, maintain it, and then try to sell it many months later.
Kuna offers a wide range of short sale properties for sale, including acreages for horses or farming, view property, starter and traditional subdivision homes. You can take advantage of these short sales if you do the research on the market value, the current condition of the home, the estimated cost of repairs, and the likelihood for future appreciation. However, there are other factors that can make a huge difference if a short sale gets approved or not. Depending on the offer amount, the loan balance, how many lien holders there are, and if the bank considers the offer is reasonable, will determine if it is accepted. Lenders try to do their own market analysis or Broker Price Opinions to make sure they are getting a price that make sense for them. However, in a rapidly declining market, they may be motivated for taking less in a short sale than risk losing more money if they have to foreclose and take back the property. (Photo Below- Kuna residents are just a short drive away from the Swan Falls dam on Snake River)
Many Kuna short sales do not go through because buyers simply do not want to wait months and months for an approval from the lender and even if they are willing to wait, there are no guarantees it will ever be approved. Sometimes, while waiting for the lenders approval, the home is foreclosed on due to the impending auction date of the Trustees Sale. This can be frustrating for everyone. It is important buyers have a right to cancel so if they decide they cannot wait, determine the repairs will be too costly, or find a better home they have the right to do so. Kuna is a great place to call home and even better if you can get a fantastic price on a short sale property! We suggest that buyers consider Idaho bank owned properties as well.
View information and real estate listings in other Idaho communities.
Contact The Hughes Real Estate Group for more information or to view Idaho homes: (208) 571-7145.