Nampa Idaho Short Sale Homes

Nampa has some incredible opportunities to buy short sale properties at unbelievable prices.  If you are looking to get a good deal on a home, buying a short sale property in Nampa may be just what you are looking for. Buying Nampa Short Sale Homes.

Nampa Idaho Short Sale Homes

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Nampa ID Short Sale Properties

A Nampa short sale is basically the lender accepting less than what is owed on the property before it goes through the very expensive and overwhelming process of foreclosure.  The Nampa area and most of Canyon County has been particularly hard hit during the economic downtown of the last few years.  Almost 70% of all sales of Nampa properties are distressed.  This distressed category includes the pre-foreclosure short sales and the post foreclosure bank owned or government owned properties.  This presents unbelievable investment opportunities for buyers who are willing to do their homework and allows the neighborhood to recover quicker if the house does not remain vacant or run down for an extended period of time.

The process of purchasing a short sale in Nampa can take up to 6 months, or longer and many short sales do not end up closing.  A buyer really must make an effort prior to writing an offer to decide if they have the time and staying power to stay the course through the process.  The buyer also needs to study the comparable properties of recent solds in the neighborhood to makes sure the price they are offering is suitable for the repairs that need to made and the further decline in prices while waiting for the approval from the lender.  If there is more than one lien holder, the process can take even longer and less likely to be accepted.  It can be very much in the lender’s interest to accept the short sale since they can get the property off their books quickly and then not have to go through the expense of foreclosure and taking the property back, paying the cost of maintaining it and putting it back on the market.   If the short sale offer is approved, the seller can avoid even further damage to their credit.

Short sales can be a fantastic option for buyers looking to get a bargain on a home in Nampa, Idaho.  A majority of sales in Nampa have been either short sales or bank owned properties.  If a buyer does their research, they can come away with an excellent investment, whether they planned to call it home or rent it to a tenant long term.

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.