Are Short Sales in the LBI Real Estate Market a Good Investment?
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Short Sales in the Long Beach Island NJ Real Estate Market 
Short Sales in the Long Beach Island NJ Real Estate Market 
Short Sales in the Long Beach Island NJ Real Estate Market
Long Beach Island Real Estate
What is a short sale in the Long Beach Island NJ real estate market? A short sale is when someone sells their house on LBI for less than the amount of money they owe on it. This type of transaction can happen in two ways: 1) When the homeowner fails to pay their mortgage payments, and 2) when the seller agrees to sell their property at an agreed-upon price that is less than what they owe on it. The short sale process typically takes around six months or more from start to finish but can also take much longer depending on your lender’s requirements. Short sales and distressed sales are not very common on Long Beach Island and for that reason, sometimes they are not the best investment.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Short Sales in the Long Beach Island NJ Real Estate Market
The short sale process in the LBI real estate market is complex for homeowners, but it can be just as frustrating and strenuous to try and buy a short sale or other types of distressed property. One of the most significant issues with short sales is that they take so long to complete – sometimes up to a year or more. Many real estate investors opt to purchase another type of property with a motivated seller to avoid these delays. The short sale process is not straightforward, but from time to time you can find a short sale on LBI that you can buy and have it make sense. If you are looking for an inexpensive home in the LBI real estate market, buying a short-sale property can sometimes be a good option – but sometimes, short sales can not be a good value. These homes often need a great deal of work, and the attention they draw from other buyers in the LBI real estate market can drive the price up. If you are looking for a short sale on LBI, it is imperative to work with an experienced real estate agent who knows all of the short sales currently available in your area and has navigated this transaction before. Do short sales work? They sometimes do, so long as there isn’t another buyer who’s willing to pay more than what the current homeowner owes. It all depends on how motivated and committed everyone involved truly is when trying to complete this type of transaction.
Are Short Sales in the LBI Real Estate Market a Good Investment?
The short sale process can seem like a very complicated and frustrating one at first glance. Still, once you understand how they work, there is no reason why you shouldn’t be able to purchase a short-sale home on Long Beach Island NJ, as quickly as possible – or faster than those that do not know what they’re doing! If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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