Short Sale Homes for Sale in Higley Groves
Short Sale homes for sale in Higley Groves are homes we usually categorize as distressed property, not necessarily because the home is distressed but because of the condition of the sale. A Short Sale property is where the seller is selling their home for less or short of what they owe on it. In these transactions the seller has to negotiate with the bank that holds their mortgage to come to an agreement on a final sales price because usually the bank is taking a loss letting it go for less than the mortgage value. This negotiating process can take anywhere from 30 to 180 days in some cases.
Although there were a lot of Short Sale homes for sale in Gilbert as a whole in 2010 to 2013, the numbers have really diminished for two reasons: the market has gained strength and Gilbert home values are up, and most everyone who was “under water” on their mortgage has already sold. Usually the bank requires a hardship for the seller to be able to sell. This can really be anything from a medical issue to a job transfer. Although there are 96 Short Sale properties in Gilbert, there aren’t any Short Sale Homes for sale in Higley Groves. Usually buyers think that a Short Sale home for sale is a good deal and can save them money.
Although this was more true in 2012, these homes usually sell around market value now because the bank is trying to close the gap between the sales price and the amount of the deficiency of the loan and the properties are not being left in horrible conditions as they were back when the market was on the low end. Sellers now, are not as hard on cash as they were during the recession and the ones selling now, have weathered the storm for the most part and do not want to move, but have to for one reason or another. Don’t count short sale properties out of your home search! Many now, are preapproved, and ready for a quick closing! Contact us today to start viewing Short Sale Properties in Higley Groves.
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