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$500 Down Payment
You can buy a HUD owned home with only a $500 down payment. Plus, request up to 3% towards buyer closing costs. More Info


Leigh-Jo Anzures - (505) 730-8181
Leigh-Jo Anzures
Rio Rancho Realtor

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How To Buy a Short Sale


What is a Short Sale?

A short sale is a method of selling a home for less than what is owed to the bank.  You can attempt to sell your home via short sale if you are no longer able to maintain mortgage payments, are already behind on payments or are unable to sell under normal circumstances because you owe more on the home than what it is worth.


Finding Rio Rancho Short Sales

We've made finding short sales in Rio Rancho, easy.  There are three methods you can take advantage of to search for properties.  They are:


1)  Use our FREE Map-Based Home Search.  You can begin searching for Rio Rancho short sale homes immediately with real-time search results.  You'll have access to all available photos, virtual tours and property details.  There is no sign-up required.  To begin searching, click here.


2)  Setup FREE Listing Alerts.  With listing alerts, you will know when a new short sale listing that matches your specific interests hits the market.  You'll know before most real estate agents do.  There's no obligation and you can stop the alerts at anytime.  Setup your alerts today, click here.


3)  Allow us to do the searching for you.  Since the seller pays for our services, there is no cost to you for our assistance.  Finding homes is what we do for a living.  We have the best resources and the time to dedicate to helping you find the home of your dreams.  Put us to work for you today.  To connect with a Rio Rancho Realtor, call/text (505) 730-8181 or e-mail us.


List Prices

The list price you see on a short sale home can be much lower than the price that will actually be accepted by the bank.  When searching for short sales, it's not rare to find a phenomenal home in an amazing location at a price that appears too good to be true.  Well, in many cases, it is too good to be true.  It's actually common for some listing agents to price a home very low to attract buyers.  The problem is, what the bank will actually require an offer of much more than the price you see listed.  This can create long delays or heartache when you discover that dream home is now out of reach. 


Qualifying For a Short Sale

There are no out of the ordinary qualifications required to buy a short sale.  However, there is one criteria that you will need, and that is patience.  Short sales can take 3 to 6+ months to close, if you're fortunate.  In some cases, it can take over a year to close, if they indeed even make it to the closing table.  When buying a short sale, you should expect a long process, unlike foreclosures, HUD homes and traditional properties that can close in 30-45 days.


Submitting an Offer

To submit an offer, the first thing you'll need is, to be prequalified.  This is a step that some bypass, but you inevitably must meet with a mortgage lender to determine your eligibility to buy a home and what all your options are.  Even if you're paying cash, we still need to verify available funds as this is a requirement by the banks.


Next, you will need a Rio Rancho real estate agent who is experienced with short sales.  Not just any real estate agent can adequately assist you on the purchase of a short sale.  Your real estate agent can be the make or break of the transaction.  We have worked with buyers and sellers on short sales, so we have the experience and knowledge of both sides of the transaction to properly assist you.  To connect with us, call/text (505) 730-8181 or e-mail us.


Finally, you will need a carefully and strategically drafted contract tailored specifically for short sales that is aimed at giving you the maximum advantages in the transaction.  We are qualified to write this contract for you.  We'll assist you with negotiations from the beginning of discussions, all the way through closing.  Contact us with any questions or concerns that you have with regard to buying any type of home.


Home Inspections & Repairs

We strongly recommend performing all applicable home inspections.  Since the home owner is in a distressed situation, you can expect to be the one who pays for all inspections.  A home can appear in immaculate condition, but only a qualified inspector can provide you with a report on the true condition of the home.


With regard to repairs, short sale homes are typically sold as-is.  In some rare cases, it may be possible to request the seller's bank to pay for a necessary repair (e.g. septic tank, furnace, etc.) that would make the home habitable.  However, you should anticipate for the home to be sold as-is.



Feel free to call/text us at (505) 730-8181 or e-mail us with questions about buying a short sale.  Remember, there is no cost to you for our assistance with the purchase of a home.  The seller pays for our services, so take advantage of side-by-side assistance during your journey.




Rio Rancho Neighborhoods


Cabezon Communities:
      Rancho Oro
      Rancho Plata
      Arbolera del Este
      Yucatan del Estante
      Las Brisas

Rio Rancho Estates
Northern Meadows
Enchanted Hills
Loma Colorado
High Resort
Cedar Hills
Star Heights
Valley Ridge
Sugar Ridge
Diamond Ridge
North Hills
River's Edge I
River's Edge II
River's Edge III
High Range
Panorama Heights
Los Milagros
Western Hills
Southern Park
Sabana Grande
Corrales North
Loma Encantadas
Vista Entrada
Mountain Hawk Estates
Chaco Ridge
Mirador del Sol
Camino Crossing
Vista Hills

Greystone Ridge
Fairways Condos
Star Villa

The Islands
Renaissance Townhomes
Chamisa Greens
Los Pinons
Sierra Norte
Cielo Norte

Corrales Heights
Sara's Meadow
Desert Ridge
Country Club Hills
Rolling Hills
Greystone Pointe
Arrowhead Ridge
Holiday Park
Trinity Estates

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