SHORT SALE LORTON
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 Lorton, 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 Lorton, VA 22079, 22153, 22199, Arlington, Alexandria, McLean, Falls Church, Fairfax, Annandale, Springfield, Reston, Burke, 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 Lorton VA
Let our experienced Lorton short sale real estate agents help you avoid foreclosure in Lorton, 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.
Lorton 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. Lorton 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!
Lorton Short Sales
The easy accessibility of loans and a number of associated techniques like the payment of equal monthly installations has actually made purchasing a home a simple job. With the rapid growth of real estate service in Lorton, VA, you can quickly plan an optimal house for yourself now. Nonetheless, many times, such investments can turn out to be risky. Mortgages on a home also can confirm to be the hugest risk feasible. You commonly can not involve terms with the location. At the same time, there are several opportunities that the value of your home can drop instead of valuing. Because of this, the value of money that you have invested in your home is much more than its present value. This ultimately comes to be a greater problem, if you purchased your house on a home mortgage. To this rescue, comes a passionate option referred to as a Short Sale.
By doing a short sale, we simply suggest that you can sell your undervalued home to another buyer with the authorization of your bank. If the amount owed to the bank takes place to be more than the amount you will actually get, in case you sell the house, after that the best choice would be to do so. If the bank accepts a short sale, you can sell your home to a home buyer at its decreased value and also get the balance crossed out by the bank. Generally, the financial institution crosses out your equilibrium from its account. The sum not paid by you will be shown as income in your accounts by the financial institution.
Short sale Lorton only happens when there is an absolute assurance that the cash worth of your house can not increase in the future. To avoid the risk of a total loss, the bank typically accepts the decreased amount of short sale.
Risks also exist if you are the one who buys short sale homes in Lorton, VA. There are numerous typical mistakes that individuals make when they purchase a house on their own in short sale. If you are purchasing such a house, after that you should very carefully look at the problem of the property. Real estate investment will just be profitable if your house is in good condition. An additional usual mistake is that of neglecting property problems. You need to ensure that there are no forgeries or legal problems with the property that you are purchasing otherwise it may cause bigger troubles in the future.