SHORT SALE FAIRFAX
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 Fairfax, 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 Fairfax, VA 22030, 22031, 22032, 22034, 22038, Arlington, Alexandria, McLean, Falls Church, Annandale, 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 Fairfax VA
Let our experienced Fairfax short sale real estate agents help you avoid foreclosure in Fairfax, 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.
Fairfax 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. Fairfax 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!
Fairfax Short Sales
The easy accessibility of home loans and several associated methods like the payment of equivalent monthly installments has actually made purchasing a house an easy task. With the rapid development of real estate service in Fairfax, VA, you can quickly prepare an ideal home for yourself now. However, lot of times, such investments can become dangerous. Home mortgages on a house too can prove to be the hugest threat possible. You usually can not pertain to terms with the place. At the same time, there are numerous chances that the value of your home can depreciate rather than valuing. Because of this, the value of money that you have spent on your home is a lot more than its existing worth. This eventually ends up being a greater issue, if you got your house on a mortgage. To this rescue, comes a passionate option referred to as a Short Sale.
By doing a short sale, we merely indicate that you can sell your undervalued house to another home buyer with the approval of your financial institution. If the amount owed to the financial institution occurs to be more than the amount you will actually get, in case you sell your house, then the best decision would certainly be to do so. If the bank agrees to a short sale, you can sell the house to a buyer at its decreased value and also get the balance written off by the bank. Normally, the financial institution crosses out your balance from its account. The amount not paid by you shall be shown as income in your accounts by the financial institution.
Short sale Fairfax only occurs when there is an absolute warranty that the money worth of the house can not increase in the future. In order to avoid the risk of a full loss, the financial institution often approves the decreased amount of short sale.
Dangers likewise exist if you are the one that buys short sale homes in Fairfax, VA. There are lots of usual mistakes that individuals make when they buy a house on their own in short sale. If you are purchasing such a house, then you should thoroughly look at the condition of the house. Real estate investment will only be profitable if the house remains in good condition. An additional usual mistake is that of neglecting property problems. You have to make certain that there are no forgeries or legal issues with the property that you are purchasing otherwise it may result in bigger troubles in the future.