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Another Bristow, VA Short Sale: SOLD!

By
Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

The story of this Bristow, VA Short Sale in the community of Kingsbrooke started in early April when I was contacted by the Sellers, who had since relocated to the West Coast and had been renting the home.  Seems they had attempted a Short Sale with their lender, ING, in 2010.  It had been denied.

When the Sellers contacted me, they told me they had already asked their tenant if she would be interested in purchasing the home.  That's who had also attempted to purchase the last time.  Since she'd lived there for about two years and loved the place, it was a natural fit.  And as a Northern Virginia Short Sale Agent, I was pleased as punch to know the chances of  losing the Buyer because they got cold feet or found something else were slim.  A tenant-Buyer is about as close to a sure thing a Short Sale Seller can find. 

So the listing was put in the MLS on April 12th priced at $199,000 and the tenant contract received that same day.  Of course, had the terms not been agreeable, the Sellers would have countered, or entertained offers from other Buyers.  Thankfully, the tenant-Buyer, represented by her own real estate agent, received good advice and made a fine offer.

ING approved the Short Sale of this Kingsbrooke townhouse on June 27th.  Some terms of the contract had been changed.  The sales price had been raised from list price to $210,000 and ING would not allow the Seller to pay closing costs, as had been requested by the Buyer. Settlement of this outstanding townhouse happened today, July 22nd.  The tenant is now the owner of this fabulous Kingsbrooke townhouse, becoming a home owner without having to pack and move.  Sellers were given debt forgiveness with a nominal cash contribution at closing. 

It's great when a Bristow Short Sale makes it to settlement.

Comments (3)

Anne Clark
Metro Referrals - Gainesville, VA

Congratulations on another successful ending to a Bristow short sale.  Your efforts pay off more times than not.  In fact you make it look easy.

Aug 28, 2011 08:35 AM
Anne Clark
Metro Referrals - Gainesville, VA

And it's always great when a tenant is not evicted from their home in the process, but makes the rental their home.

Aug 28, 2011 08:36 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Anne:  It is nice to see a tenant make a house, home.  And closing another Bristow Short Sale felt great.  Got one coming up this Wednesday.  Check back.

Aug 28, 2011 08:50 AM