SHORT SALE ANNANDALE
A short sale is a real estate transaction where a homeowner is facing hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. If your house in Annandale, VA is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.
A short sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our short sale team has a high success rate on approvals from the banks and closed short sales in Annandale, VA 22003, 22031, 22037, 22042, 22312, Arlington, Alexandria, McLean, Falls Church, Fairfax, Springfield, Reston, Burke, Lorton, Woodbridge, Manassas, Centreville, Oakton, Great Falls, and Vienna, Virginia.
Bank approves short sales when they believe a hardship situation exists, however, hardship is not only determined by how much money a person earns but also it factors in a person's expenses, especially if expenses have increased and income has decreased.
Stop Foreclosure Annandale VA
Let our experienced Annandale short sale real estate agents help you avoid foreclosure in Annandale, VA. We will negotiate directly with your banks to get short sale approvals for you. Our goal is to reach out and educate homeowners who are behind on their mortgage or think they soon will be. We have solutions that may save your credit and enable you to start fresh.
Annandale short sales are complicated but, can help sellers who owe more than home is worth. A short sale occurs when a property is sold for less than the total debt owed on the property. Annandale short sale must be approved by the lenders and borrowers requesting a short sale must prove a hardship such as a mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation.
Our professional short sale service is totally free for our clients. Contact us for a free confidential consultation today!
Annandale Short Sales
The very easy schedule of loans and a number of connected approaches like the payment of equivalent monthly installments has actually made buying a house an easy task. With the fast development of real estate business in Annandale, VA, you can swiftly plan an ideal house for yourself currently. Nonetheless, lot of times, such investments can become risky. Home mortgages on a home too can verify to be the hugest threat feasible. You typically can not pertain to terms with the area. At the same time, there are many opportunities that the value of your home can drop rather than valuing. As a result, the value of money that you have invested in your home is much more than its present value. This at some point comes to be a greater problem, if you purchased your house on a home loan. To this rescue, comes a hearty solution called a Short Sale.
By doing a short sale, we just mean that you can sell your undervalued house to another buyer with the consent of your bank. If the money owed to the financial institution happens to be more than the amount you will actually get, in case you sell your home, after that the best choice would certainly be to do so. If the financial institution agrees to a short sale, you can sell your home to a home buyer at its decreased value as well as obtain the balance crossed out by the bank. Normally, the bank crosses out your balance from its account. The amount not paid by you will be revealed as earnings in your accounts by the bank.
Short sale Annandale just happens when there is an absolute assurance that the money worth of your home can not increase in the future. In order to avoid the risk of a complete loss, the bank typically approves the lowered amount of short sale.
Risks additionally exist if you are the one who buys short sale homes in Annandale, VA. There are lots of usual mistakes that individuals make when they purchase a home for themselves in short sale. If you are buying such a home, then you need to carefully look at the problem of the house. Real estate investment will just pay if the house is in good condition. One more usual mistake is that of overlooking property problems. You have to make sure that there are no forgeries or legal problems with the property that you are getting otherwise it might cause bigger troubles in the future.