Revised 11/26/11

 P.O. Box 1208 , 250 Route 49 in Campton , NH 03223

                             phone 603-726-8642 or 603-726-8941

                             website www.kingrealtynh.com

 SHORT SALES:

This cute 2 bedroom 1 bath home on 2+ acres only a stones throw from Stinson Lake and across the street from the NH Snowmobile corridorin the town of Ellsworth is being offered by SHORT SALE . More information including interior pictures can be found at our listings page obtained at the tab on the left of our home page. This house is being offered at $79,900 

SELLERS: Have you been having problems keeping up with your mortgage payment and see no way out ? Have you gotten a foreclosure notice ? Have you been trying to sell your house but the amount of what it is worth is less than what you owe on it ? DO NOT STICK YOUR HEAD IN THE SAND . There maybe some help for you to get through this. It is called a Short sale . If you are behind but have not yet received a foreclosure notice, time is of the essence. With a good real estate agent by your side that has familiarity for the Short Sale process you may be able to get your house sold without having to take the loss personally. Your bank does not want to foreclosure on you if you will find a buyer for them before the foreclosure. They lose on average 50% when they have to foreclose on you . When you negotiate a shortsale, the average is only 25%. So now you can see why it is better for the bank. But it is also better for you. Your credit will recoup quicker and your losses will be reduced . If you are foreclosed on you are more likely to owe IRS as well as the bank for the loss while if you help negotiate a shortsale , you can also negotiate any losses with the bank and IRS.  DO NOT LET IT GET TO THE POINT OF THE FORECLOSURE NOTICE  before asking for help. BUT if it does, there still may be help. So contact a real estate professional as soon as possible . 

BUYERS: Why do you want to buy a shortsale . Simple answer that if you are lucky enough to find a property for sale by shortsale :(1) you will pay less for this home then you will for a home for sale where an owner does not have to sell and is able to wait for the highest and best offer.  and (2) Unlike a foreclosure you have a seller who will be able to fill out an accurate Seller disclosure to tell you about their house . Thus making the element of surprise that often comes with foreclosures  far less. In short you will get a better value for your dollar.

FORECLOSURE  and FORECLOSURE AUCTIONS: These are a very scary way to purchase unless you are experienced or have done your homework. Buying at foreclosure auction is a very tricky thing. You have to have already done a title search on any property before you come to the auction as if you are the wining bidder and there is a lien that you did not know about , your choice is to take it with the purchase  or lose your deposit. If the person losing the property could possibly have an IRS lien, this may or may not be on it when you do the title and even if it is not , you could be liable for the lien if it is perfected before you take ownership (even after th auction).Water, and sewerage and tax liens all stay even after the auction  as do liens for work done on the property if they have a valid lien at the time of the auction. If the auction was not performed correctly , the notifications were not done correctly ..... the auction may be vacated  and any work you might have done on the property may be a loss . There are lots of pitfalls  so be sure that you do your homework if you are buying at Auction. If you buy after the auction, most banks will allow you to do an inspection but they know nothing about the property and are not willing in most cases to guarantee anything.  And if you find items wrong with a foreclosed property most of the time , they will not be willing to fix them . So if your funding requires that your home be in a certain condiditon when you close, (for instance Rural housing and FHA require running water, working septic, paint be in good repair, roof to have at least 2-5 years remaining) a foreclosure may not be right for you .To go into a contract to purchase where you know it will not pass the inspection will likely mean that you lose the money for the inspection. Know what you are doing before going into such a deal .