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How To Short Sale My Home In Alexandria VA

Need a Helping HandSince 2009, I have developed a rock solid track record for helping homeowners avoid foreclosure.  From condos, townhomes, and single-family homes, many homeowners others were able to sell their home as a short sale with acceptable terms from the bank.

A short sale is where your bank gives you written permission to sell your home for less than full balance that is owed. There are multiple advantages to a short sale, including:

  • Avoiding the financial ramifications of having a foreclosure on your credit report
  • Placing your employment and security clearance at risk with a foreclosure
  • Having delinquent condo/HOA dues negotiated down partially or in full by the bank
  • Limiting the number or late mortgage payments on your credit report
  • Negotiating a relocation credit at closing to assist you in your housing search
  • Having written proof that you are released from the mortgage debt, and not having to worry about the bank seeking a deficiency judgment after foreclosure has taken place
  • Avoiding having to disclose a foreclosure on future employment applications
  • Avoiding depleting your savings and maxing your credit cards to keep up with mortgage payments

Do I Have To Be Behind On My Mortgage?

It depends.  We have helped many homeowners who never missed a payment, but due to their financial hardship, the bank approved them for a short sale.  Some mortgage companies do require you to be behind on your mortgage before they will consider you a candidate for a short sale.

How Long Does the Short Sale Process Take?

This depends on two things: how many loans your have against your property and what bank(s) is involved.  For example, some homeowners have two mortgages, a 'first' and a 'second'.  In this case, both banks would have to approve you for a short sale, the first lender would grant approval first, then the second.  The short sale approval process has become more streamlined over the past few years, so approval is usually granted within 30-45 days.  After you have been approved by your lender, then the buyer side processing will begin.  So, from start to finish, a short sale usually takes 90 days from contract acceptance to closing.

What Are the Possible Outcomes Once My Short Sale is Approved?

When you receive your short sale approval letter, it will outline the terms/conditions of your approval.  When you are selling your home for less that the total balance due, your approval may include:

  • Full approval with the short amount waived and your loan will be considered paid in full at closing. You will not owe any money, and you will not be responsible for a promissory note.  This is the ideal outcome on all short sales.
  • Approval but the bank stipulates that some of the balance is due at closing. This means that in order to close, you will be required to pay money at closing to go toward the balance of your mortgage.  Once closing takes place, there will be no additional money due from you and your mortgage will be considered paid in full.
  • Approval but with a promissory note for some or all of the remaining balance.  We've seen this in very few cases, typically when the homeowner wants to sell, but has the financial means to pay back some of the mortgage.

What Does a Short Sale Approval Letter Look Like?

Here is an example of a Wells Fargo Short Sale Approval Letter that we recently received for one of our clients.

short sale approval letter

What If I Don't Agree to the Terms of the Short Sale Approval?

When you list your home as a short sale, this information is disclosed to the buyer and your purchase offer will be subject to short sale approval.  As the homeowner, you will have the opportunity to review the short sale approval with an attorney.  If you do not agree to the terms of the short sale, you can elect to cancel the sale, and purchase contract will be terminated, and your listing agreement will be canceled without penalty or termination fee.  

What is the First Step?

The first step would be to find out the value of your home to determine if the market value is high enough for you to payoff your mortgage balance without selling short.

Where Can I Find Additional Information?

Since short sales are a different type of real estate transaction,  I've dedicated an entire website to this specific topic.  Please click here for free reports and additional information to see if a short sale might be the right choice for you.  To contact me directly, please call 703-623-8759.

Current Short Sale Listings

$1,199,900
3 Beds ⋅ 2 Baths ⋅ VAAX2054882 MLS
Residence 402 at Towngate North offers a rare opportunity to own a 3-bedroom residence with a private terrace and sweeping DC skyline views in Old Town North. The open layout is filled with natural light through floor-to-ceiling windows and was designed for easy indoor-outdoor living. The kitchen features an Italian quartz waterfall island, JennAir appliance suite, custom cabinetry, and designer lighting. The approximately 363 sq ft private terrace extends the living space and offers a unique setting for outdoor dining, entertaining, or enjoying private skyline views and upcoming Washington DC 250th anniversary celebrations and fireworks. The primary suite includes a spa-inspired bath and generous closet space, while the additional bedrooms offer flexibility for guests, office space, or secondary living. Two garage parking spaces are included. Originally converted into luxury residences in 2022, Towngate North offers boutique-style amenities including a fitness center, concierge, rooftop terrace with gas grills, conference rooms, and a landscaped outdoor courtyard. Ideally located near the waterfront, King Street, National Landing, Amazon HQ2, Reagan National Airport, and Washington, DC. Positioned in one of Alexandria’s fastest-growing waterfront neighborhoods, Old Town North continues to see significant new development, retail, dining, and connectivity improvements, making this an exceptional opportunity for both lifestyle and long-term value. Schedule your private tour today!

625 Slaters Ln Unit #402, Alexandria
$750,000
3 Beds ⋅ 3 Baths ⋅ VAFX2321626 MLS
A diamond in the rough awaits! 8810 Fort Hunt Road presents an exciting opportunity for buyers seeking a renovation project in a prime Alexandria location. This 3-bedroom, 2.5-bath split-level home offers a spacious lot, attached garage, and a layout ready for transformation. Whether you’re an investor, contractor, or buyer looking to build sweat equity, this property offers endless possibilities. Short sale opportunity — cash or renovation financing preferred. Sold as-is. Roof 2015, HVAC and water heater 2022.

8810 Fort Hunt Rd, Alexandria
$554,900
4 Beds ⋅ 4 Baths ⋅ VAFX2325790 MLS
Centreville is one of those Northern Virginia locations that quietly does a lot well — commuter access, everyday convenience, local parks, community resources, and weekend staples all within reach. Set in Heritage Crossing, this end-unit townhome offers three finished levels, 3 bedrooms, 3.5 baths, two assigned parking spaces, and a fenced rear yard with patio. The home gives you practical space in the places that matter. The finished lower level includes a full bath and fireplace, creating flexibility for recreation, guests, work-from-home needs, or additional everyday living. The main level offers a comfortable flow for daily use, while the end-unit placement and fenced rear patio add outdoor space without taking on a large yard. The location is the story here. From local errands, shopping, and dining to Centreville Regional Library, Cox Farms, Ellanor C. Lawrence Park, Cub Run Rec Center, and major commuter routes, this home sits in a pocket that connects well to the surrounding area. I-66, Route 28, Route 29, Fairfax, Chantilly, Tysons, Dulles International Airport, and Washington, DC are all part of the larger access picture, with regional Metro options available through Vienna/Fairfax-GMU and the Silver Line corridor. Prior updates reportedly include HVAC installed in 2016, water heater replaced in 2020, fence replaced in 2022, attic insulation updated in 2023, and LVP/carpet updates in 2024.

14187 Royal Oak Ln, Centreville
$499,000
3 Beds ⋅ 3 Baths ⋅ VAFX2328964 MLS
Welcome to 6111 Pond Lily Ct. This is an opportunity to own a townhome in the sought after Burke Centre community at a rare price. Perfect as a fixer-upper or for investors. Don’t miss out on this opportunity. The main level features an inviting floor plan with generous living and dining spaces that are ideal for both everyday living and entertaining. The kitchen offers ample cabinet and counter space. Opportunities to improve the space abound. Upstairs, you’ll find three well-proportioned bedrooms, including a spacious primary suite and two additional bedrooms providing flexibility for future owners. The upstairs is served by a spacious full bathroom. The lower level offers additional flexible living space that can serve as a recreation room, home office, fitness area, or guest space. Another full bathroom serves the lower level providing added convenience for owners. Located in the heart of Burke, this home is just minutes from Burke Centre shopping and dining, Burke Lake Park, Lake Braddock, and miles of scenic walking and biking trails. Commuters will appreciate easy access to Fairfax County Parkway, Route 123, I-495, the VRE, and Metro bus connections, providing convenient access throughout Northern Virginia and into Washington, D.C. Burke is known for its strong sense of community, beautiful parks, and highly regarded Fairfax County schools, making this an exceptional place to call home.

6111 Pond Lily Ct, Burke
$429,000
2 Beds ⋅ 2 Baths ⋅ VAFX2311302 MLS ⋅ The Oakton Condo BLDG.
Spacious ONE LEVEL living - park your car on the street and walk directly to condo entrance - no steps!Here’s your chance to own in Oakton Terrace! This spacious condo is the largest 2-bedroom, 2-bath model in the community and offers a wonderful opportunity to make it your own. The thoughtfully designed floor plan provides a true “home” feel, featuring an enclosed patio, side sitting room, separate office space, dedicated laundry room, fireplace with brick mantel, and a spacious kitchen. The generous primary and secondary bedrooms, along with two full baths, provide comfort and flexibility for everyday living. Bring your decorating ideas and customize this home to match your personal style. Residents also enjoy plenty of open parking, a community swimming pool, and an unbeatable location close to the Vienna Metro, shopping, and restaurants. Fantastic value in a highly desirable community!

10143 Oakton Terrace Rd, Oakton
$300,000
2 Beds ⋅ 2 Baths ⋅ VAFX2287724 MLS ⋅ Jefferson Mews Condo BLDG.
This is a Short sale good conditions move in ready 2 bedrooms 2 full bathrooms, Thank you for showing. Short sale approved at $300,000.

525 Florida Ave Unit #202, Herndon
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