Buying LBI Short Sales | Long Beach Island New Jersey Distressed Sales

Information about buying LBI short sales and Long Beach Island New Jersey distressed sales. Read sales updates on the LBI NJ real estate market for single family homes, duplexes and condos.

Short Sales and Foreclosures in the LBI NJ Real Estate Market

Buying Short Sales and Foreclosures in the LBI NJ Real Estate Market

Short sales, foreclosures, and bank properties are not the most common real estate transactions on LBI. However, they can prove to be a good deal...if the deal is right!

• The highest bid does not always win! Banks will look at a wide range of factors before deciding who will be awarded the sale.
• Make sure you have all documentation on employment, debt, and earnings before pursing a short sale or bank property in the LBI real estate market.
• Most banks will want to pre-qualify you for the transaction, even if you are not using them for the financing.

Bank owned properties make up a comparatively small segment of the LBI real estate market. At any given point in time, there are only about 60-80 properties with some level of bank involvement from pre-foreclosure to fully bank owned.

A Step by Step Guide to Buying a Home on Long Beach Island New Jersey