What are Short Sale Homes?

In the event a homeowner finds themselves upside down in their home mortgage and/or falling behind on the mortgage payment, they may choose to sell their home in what is called a short sale.

Connect with The Hughes Real Estate Group for detailed information on short sale properties in Idaho: 208.571.7145.

Search Idaho Short Sales

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000 $300,000 - $400,000 $700,000 - $800,000
Sort by:
Show:
View Results by:

No listings were found that matched this criteria.

10210 W Whispering Cliffs Dr, Boise $719,900

  • 4 Beds
  • 5.5 Baths
  • 6,100 SqFt
  • 2.35 Acres

Rare Estate Offering 2.5 Fully Landscaped Acres Of Canopy Trees Over The Creek Flowing Into The Pond W/sandy Beach & Waterfall. Secluded Salt Water Pool W/cabana & Entertainer's Sized Patio. 3 Suites In The Main Home W/full Baths & Walk-in Closets, All W/vi...

Idaho MLS Re/max Capital City
Listings have been deleted from all results. Undo Last Delete or View All Deleted Listings

2106 E Mozart St, Meridian $375,000

  • 4 Beds
  • 3.0 Baths
  • 2,648 SqFt
  • 0.29 Acres

Distinctively Designed. Exquisite Architectural Details Throughout - This Gorgeous Builder's Home Has That "wow" Factor You're Looking For. From The Maple Wood Grand Entry & Soaring Ceilings, Expansive Windows Illuminating The Interior, Beautiful Built-ins,...

Idaho MLS Silvercreek Realty Group
Listings have been deleted from all results. Undo Last Delete or View All Deleted Listings

5834 N Duxbury Pier Ln, Garden City $267,000

  • 2 Beds
  • 2.0 Baths
  • 1,776 SqFt
  • 0.11 Acres

Significant Water Damage Throughout The House, Panels Have Fallen From Ceiling, Walls And Floors Are Bowing. Please Use Caution While Touring. Bank And Seller To Accept Cash Only Offer. Please Call Listing Office For More Info. Thanks!

Idaho MLS Keller Williams Realty Boise
Listings have been deleted from all results. Undo Last Delete or View All Deleted Listings

10315 W Breckfield, Boise $219,900

  • 3 Beds
  • 2.5 Baths
  • 1,988 SqFt
  • 0.08 Acres

Home Is Vacant Now! Attached Custom Single Family Property W/ No Back Neighbors! Low Maintenance Backyard Opens To Spacious Common Area. Front Yard Landscaping Included In Hoa And Has Pressurized Irrigation. Fenced Court Yard To The Front Door. Designer S...

Idaho MLS Keller Williams Realty Boise
Listings have been deleted from all results. Undo Last Delete or View All Deleted Listings

7020 Sw Jarvis, Mountain Home $149,000

  • 3 Beds
  • 1.0 Baths
  • 1,200 SqFt
  • 10.00 Acres

Quiet Country Living On 10 Acres, Bring Your Horses, Rv's And Toys. Enjoy Your Kitchen With Tile Counter Tops, Tile Back Splash, Tile Flooring, Rustic Cherry Cabinets In Kitchen, Can Lighting. Beautiful Natural Light In The Living Room With French Doors Le...

Idaho MLS Mountain Home Pro Real Estate
Listings have been deleted from all results. Undo Last Delete or View All Deleted Listings

189 Carney St, Twin Falls $142,500

  • 4 Beds
  • 2.0 Baths
  • 2,210 SqFt
  • 0.27 Acres

Wonderful, Renovated Home Close To Hospital, Schools, Dining Out, & Many Other Conveniences. Take A Close Look At All The Exceptional Work Completed. Master Suite Addition, New Roof, Windows, Siding, Front Porch Entry, Egress Windows & Much More.

Idaho MLS Coldwell Banker Canyonside Realty
Listings have been deleted from all results. Undo Last Delete or View All Deleted Listings

The Scoop on distressed properties in Idaho -- What are short sale homes?

Foreclosure rates have hit record levels, and the Boise Idaho area is no exception. So, what are short sale homes, exactly? To avoid a foreclosure, many homeowners have turned to a short sale. As a good alternative to the lengthy and expensive process that is a foreclosure, a short sale is still damaging to an individual's credit, but not as much. In order to successfully purchase a short sale, a buyer must be well informed of the procedure and be positive.

An Idaho short sale happens when the owner owes more on their mortgage than what the house is worth. For example, if you purchased a home for $300,000 and wanted to sell it but the home only appraised for $150,000, that home might qualify for a short sale. If you're still wondering what are short sale homes, Hughes Group is happy to assist you.

Every short sale in Idaho is different. Differing factors, such as the listing agent and the lender make them unique. Before you get attached to a short sale, ask your agent to do a little homework for you. Of the things your agent will do, one is to examine the comparable sales. Many lenders will discount the price from market value, but for your offer to get accepted, the price needs to be reasonable and close to comparable sales - which is the price of homes in the same area and with the same features. So, as you ask yourself what are short sale homes, you can decide if one sounds right for you.

Again, all short sales are different, but the million dollar question is how long does it take? To get a good idea on the short sale process, take a look at the following:

First, you submit an offer.
Bank acknowledges the offer: 10 – 30 days.
Bank orders an appraisal: 30 – 60 days.
File is reviewed: 30 – 60 days.
Negotiation initiation: 30 – 60 days.
Level 2 negotiation possible: 30 – 90 days.
File is approved or rejected: 30 – 120 days.

There can be any number of problems existing with the lender if the short sale is taking an extraordinarily long time. Lenders can get swamped with short sale submissions, so it's important to be positive and patient during the process.

Get connected today: 208.571.7145.

Idaho MLSIDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. Information provided by IMLS is deemed reliable but not guaranteed.

Listing information last updated on August 17th, 2017 at 1:53pm MDT.