Claudia S. Nelson Realtor with Keller Williams Realty, Woodbridge VA
Short Sales in Dale City Woodbridge VA
Search ALL Short Sales in Dale City Woodbridge VA
What is a Short Sale
A short sale is when a homeowner owes more on his or her mortgage then the current market value of the home. The bank will have to approve the difference in the sale price to what the borrower owns.
Where to start if you are considering a Short Sale
- Hire a Realtor. Call a local Real Estate Agent that is familiar with the area and has successfully closed short sales before. If you hire Claudia S. Nelson as your Realtor, to help you through the Short Sale Process, I will have you sign a Authoriation From for myself and the professional negotiator attorney who will assist in the process.
- Listing Consultation at your home or at my office.
- Complete Listing Package including the Short Sale package for your lender or lenders if you have more then one mortgage on the property.
- Claudia will market your home to find a qualified buyer that is willing to patiently wait until we receive short sale approval from your lender(s).
- Once an offer is receive and accepted by you, we will submit the offer along with the entire short sale package to your lender. The actual short sale approval can take as little as a 2 – 3 weeks or as much as 6 months, depending on your situation and the bank or banks involved.
- Short Sale Approval & Settlement within 30 – 45 days from receiving the approval.
In a Short Sale transaction the seller does not have to pay the Realtor commissions or any of the closing cost, the bank will cover all of these costs. The banks might not be covering taxes, past due HOA fees or any outstanding judgments.
You should also consult a local CPA or tax attorney to discuss any possible tax implication.
If you are considering a Short Sale or would like to explore ALL your options NOW is the time to CALL Claudia S. Nelson:
Some buyers and sellers my not pay as much attention to choosing the real estate lawyer that will be representing them from the time they sign on the dotted line to the closing of the deal itself. Before you do anything, it is always a good idea to talk with family, friends and neighbors for referrals. If you can get a good referral on estate litigation , you may be able to save yourself the hassle of searching for days for the right lawyer. But even after you get a referral, still make sure to research the lawyer before making any rash decisions.
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