Short Sale in Santa Fe, New Mexico

More and more often, we are seeing Santa Fe listings go short sale. This occurs as folks in financial distress find themselves selling their homes below market value in order to sell as fast as possible and avoid foreclosure.

Many banks are playing hardball to get repaid. Short Sale is feasible, but the seller often winds up pay the bank back, even if the property sells short of the mortgage balance. Check out this short sale article in Business Week, Oct 12, 2009.

Know your short sale process as buyer or seller requires lots of paperwork and a huge amount of patience. Often it takes 60 days and longer to obtain approval to go into underwriting.

To better understand the complexities of listing and buying a Santa Fe short sale , download your complimentary shortsale.pdf here.

Anthony Atwell, Associate Broker, CDPE- Certified Distressed Property Specialist

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