The Outer Banks has a large number of second or vacation homes, so when the housing market crashed, it was inevitable that we’d have our share of foreclosures. As people find they need to get rid of their homes in a hurry or face foreclosure, they often turn to a short sale.
If a seller can no longer afford their mortgage and must sell their home and the value of the mortgage is greater than the value of the property, it is a short sale. Short sales are a great solution to a very big problem, but it’s still not a perfect one. Short sales are very time consuming, and you’ll be required to do large amounts of paperwork with short deadlines. There are very few loss mitigation agents for the thousands of applicants, so if you make a mistake, your application will go to the bottom of the stack where it can linger indefinitely. It is critical to have these filled out right.
Buying a short sale can be a great way to get a new home in Corolla without paying exorbitant Corolla prices. The cost of a short sale in Nags Head allows you to get a luxury beach home in an exclusive area for FAR less than you’d pay otherwise.
We Can Help You!
At the Dean Agency, we frequently help people both buy and sell homes in short sales. Selling a short sale will help you get out from the crushing weight of an inflated mortgage, and buying a short sale is frequently a great way to get a great deal on a great piece of Outer Banks real estate. If you want more help with a short sale in Nags Head, call the Dean Agency Real Estate Brokers now! You can also find help for a short sale in Corolla!