Another Pending Alexandria VA Short Sale In Sequoyah Condos
Avoid Foreclosure in Alexandria VA - The homeowners at 3901 Woodhue Place are one step closer to stopping foreclosure with a short sale. The two level condo with three bedrooms and two full baths, listed for $170,000 is now under contract subject to lender approval. There is one lienholder, which is Citi Mortgage, and the short sale process has already been started.
How long does the Alexandria VA short sale process take?
That depends on the number of loans/liens there are against the property and which bank is involved. By now, most lenders have standard procedures in place for processing short sales, but there are some that still process short sales on a case-by-case basis. A good rule of thumb is to allow a minimum of 60 days the for lender to process and approve the short sale.
Can I make a low offer on an Alexandria VA short sale?
That depends. An experienced short sale listing agent will review the most recent sales in the neighborhood and recommend a list price. My business philosophy is to recommend a list price that is in line with market value to increase the chances of the lender accepting the offer as submitted and without a counteroffer. In my broker opinion, when the contract price is too low, the short sale lender will likely counter to a higher price, and at that time the buyer has an opportunity to walk, or cancel the sale, because the terms were not approved as submitted. When I list your home as a short sale, it is my duty to give my seller clients every opportunity to get their short sale approved quickly so that they can begin rebuilding. When a homeowner is facing a financial hardship, that last thing that they want is for the process to be dragged out or prolonged.
How do I find short sales in Alexandria VA?
Short sales are listed in the Multiple Listing Service, or MLS. To see all short sales available in Alexandria VA and to receive an email whenever a new short sale comes on the market, just visit www.AlexandriaBankOwned.com to sign up for this free service.
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