This Victory Lakes townhouse hit the market as a Short Sale on the July 4th, 2011, priced at $279,000. It had a contract on July 5th.
The Short Sale aspect of this Victory Lakes townhouse sale involved only one lender, Seterus. Once the contract was ratified and all the necessary financial information was gathered, it was sent to Seterus for approval.
This being my first experience with a Seterus Short Sale, I was ready to expect the worst and hope for the best. When the Short Sale Approval came in on August 12th, just 37 days after the date of the contract, I was pleasantly surprised. My Sellers were thrilled that there was a deficiency judgment was wiaved and that there were not asked to contribute any money to the bank in order to get to closing.
The settlement took place on August 31, 2011, only 57 days past the contract date. It sold for $284,000. Yes. This Bristow Short Sale sold ABOVE its market value list price.
Working with a Northern Virginia Short Sale Agent that has experience and a track record of success is critical to a Sellers success when attempting a Short Sale. The Buyers' Agent expressed, shortly after our contract was ratified that the only reason she even agreed to show this Short Sale in Victory Lakes was that she recognized my name as the Listing Agent and KNEW I had a track record of success with Northern Virginia Short Sales since 2007.
If you are contemplating a Short Sale of your Northern Virignia home, give me a call. I'd be happy to talk over the process and see if you are a good candidate for Short Sale.
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net
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Want to read about my recent Short Sale successes? Click the links below for some GOOD Short Sale news.
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