Find More Lorton Va Homes For Sale

What is a short sale? A short sale is when a homeowner owes more on their home, than the current market value.  For example, if a homeowner has a mortgage payoff of $400,000 but the home is worth $325,000, then the homeowner will need permission from the bank to 'sell short' or short sale.

Why should I consider short sales when I'm looking at Lorton VA homes for sale? A short sale can be a good opportunity to find a home, especially when it's a sellers market and traditional home sales are quick and competitive.  Since short sales require bank approval, this can add 30-90 days or more to the process.  Each bank is different, and each has their own way of processing short sales.  But this added layer of waiting requires patience, and when buyers are impatient and need to move quickly, these distressed properties are often overlooked.

Can I negotiate the price down on a short sale?  That depends.  Some banks will not allow the homeowner to start the short sale process until the home is on the market, and an offer is submitted.  Once the offer is submitted, the bank will review the homeowner's application and establish the appraised value of the home.  In some instances the offer can be negotiated, other times the bank will set the sales price.

Can I negotiate repair items on a short sale? You can negotiate a home inspection in your purchase offer, but short sales are sold in as-is condition, so neither the seller/homeowner nor the bank will perform any repairs.

Despite popular opinion, banks don't want to be landlords. They are in the lending business, not the property management business, so many times, it's in their best interest to minimize their losses and allow a short sale as opposed to buying the property back and allowing it to go to foreclosure.

If you have a flexible move-in date then you should consider looking at short sales in Lorton VA.  If you currently own a home in Lorton and are experiencing a financial hardship, please visit my Short Sale website to learn about your options to avoid foreclosure.

Current List of Lorton VA and Nearby Short Sales

$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
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