Active Duty US Navy member stationed in Japan seeking to buy a short sale in Delaware, what are my options?

Asked by usnskalba, Dover, DE Tue Sep 3, 2013

Hello! I am in the US Navy currently stationed in Japan. I would like to buy a short sale property in my home town in Dover, Delaware. I don't know where I will be stationed next and I would like to have my own place for my wife and 1 year old daughter to stay in when I go out on deployment next year. I have family in Delaware and it would be easier in my mind that my wife and daughter are near my family when I am out in deployment. I've found a townhome that happens to be in a short sale. What are my options and what is the best way to go about this so that I can increase my chances of getting this property. Thank you all in advance.

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John Thomas, Mortgage Broker Or Lender, Newark, DE
Tue Sep 3, 2013

I can help you out, you can be stationed overseas and purchase in Dover for your wife and daughter using a Veterans Loan or commonly called a VA Loan. This is the best loan program available as it is 100% financing and no monthly mortgage insurance required. You can call my office at 302-703-0727 and anyone on my team can help you get started with the loan process or you can get started online by applying at

John R. Thomas
Certified Mortgage Planner - NMLS 38783
Primary Residential Mortgage, Inc.
302-703-0727 Office
Author of the book, Your Guide to Purchasing Your First Home in Delaware
2 votes
John is a great resource for your loan needs
Flag Wed Sep 4, 2013
After your pre-approval, I would love to show your wife some homes (perhaps you can join us on a Skype tour).

She can give me a call at - 302-494-3897

Thank you for your service!
Flag Tue Sep 3, 2013
Fernando Ruiz, Agent, Dover, DE
Wed Sep 4, 2013
If by chance the short sale has been approved by virtue of someone being in contract and walking away from the deal it could leave an opportunity for you to purchase. However with a short time line and a specific date requirement for occupancy this may not be the best option for you. There are many values in the market and we know it's about timing in your life. A purchase here in Dover can be an advantage, in that as you get new orders you may consider keeping it as an investment that will pay you for the long term and be part of your retirement income. ( we can help with property management) The best thing about buying now is you will take advantage of Very Low interest rates which will remain the same throughout the term of the loan.

A VA loan will be a 100% LTV so you can get in for very little out of your pocket. I'd be happy to set up a custom home search and send some possibilities for you to consider. Reply with your email to get it going
1 vote
Mike Spray, Agent, Dover, DE
Thu Jun 11, 2015
They are much easier to deal with than in years past. Most banks are now ready to move on. My last one had a response in only 48 hours, although they can take a few months. My company also manages lots of the foreclosures in that area. feel free to call 302-448-9252
0 votes
Nick Barkins, Agent, DOVER, DE
Sat May 23, 2015
First off thank you so much for your Service to our Country!

Short sales are a two headed animal. They can be amazing,friendly, and easy to deal with, or they can be horrible, expensive, and an all around nightmare.

You usually end up having to pay a "middle man" the bank calls a Negotiator, about 3% of the purchase price.

It can take months to get an answer, and often the bank takes multiple bids/offers before accepting one.
0 votes
S. Walton Si…, Agent, Christiana, DE
Wed Dec 10, 2014
In a nutshell, purchasing a short sale often involves convincing a lender to sell something they don't know they own, for less than they are owed while working with the current owners, who can't afford what they have purchased.

Your time frame and expectations will determine if a short sale purchase is a good fit for you.

(REO) Bank owned properties offer some of the best value in todays market and often qualify for VA funding . Thank you for your service!

S. Walt Simpson, Certified Military Residential Specialist
Keller Williams Realty
0 votes
Diane Riffee, , Wilmington, DE
Tue Oct 29, 2013
Are you sure you want to buy a short sale? These take time to get through the process with the banks. They are still not moving very fast. You would need to be pre-aproved for a loan. Once we determine the amount you can afford, we can identify properties that will suite your needs. Feel free to contact me with any questions you have. You can email me direct; use my mobile app to search for homes; or use my full website & create your own search. Let me know if you have any questions. My direct office line is on my web site. I currently have a nice listing in Dover but it is not a short sale. It is; however, an immaculate 4 bedroom, 2 1/2 bath, 2-car garage home in a great neighborhood.

My Website:
0 votes
Linda Webb-J…, Agent, Dover, DE
Wed Sep 4, 2013
Well - First and Foremost - Thank you for your service to our country! My husband just retired after 24 years of United States Air Force this past May, so I know how important it is to ensure your family is safe and comfortable while you are away.

As far as short sales, the name is misleading - there is nothing short about that process, however you can get good deals, depending on each circumstance. I deal with bank owned properties and get properties such as a short sale after it in fact goes to Sheriff Sale and is placed back on the market.

Obviously you have tons of options in your house hunt. It would be an honor to assist you and your lovely family to find a home here in Delaware : ) Stay safe in whatever you do and again, thank you for your family's sacrifice to our country and freedom.

Sincerely, Linda
0 votes
James Olson, Agent, Dover, DE
Tue Sep 3, 2013
Short sales suck. Foreclosures can be great deals, there is a huge difference.

I have purchased well over 100 homes for personal investment and I know how to find a deal. Love to talk with you, 302-670-2300
0 votes
Yvonne Hall, Agent, Dover, DE
Tue Sep 3, 2013
I also am a native Delawarean. Why would you want to buy a short sale. Most potential buyers think you are getting a great deal buying a short sale, however, it can take 6-8 months or more to get an accepted offer back from a lender on a sort sale. You would be better to buy a bank owned property as the process is almost the same as one sold from a seller. What community are you looking at? Where do you want to be and how many bedrooms do you need? Have you talked with a lender to see what you qualify for? I can also help you with that process. When is your tour up in Japan and how much time will you have to find a home and settle before your next deployment. I know I am asking a lot of questions but I want to be able to help you the best I can. You can e-mail me back directly at Once you are back in the states I will give you all my contact information. I will do a search for you if you let me know the price range you want to stay within. I look forward to meeting you and helping you in the near future and look forward to hearing back from you. Yvonne
0 votes
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