If you are in the market for a new home, consider a short sale. Short sales are unique in many ways, but they do offer a potentially great home at a sizable discount.
What is a short sale? A short sale is when a homeowner has purchased a property and for whatever reason, can no longer keep it. It may be the loss of a job, an illness, divorce or simply because an adjustable rate mortgage has increased the monthly payments to the point that the homeowner can no longer affort the payments.
The homeowner contacts his lender and requests permission to sell the home at a discount. Hence, a short sale. The property is listed for less than the homeowner owes, and it is sold somewhere in that listing price range. The homeowner is able to walk away from the property with no money, but typically no deficiency judgement or penalty.
The great thing about buying a short sale is that it is often a home that has been taken care of by the owners who found themselves in some sort of distress. A short sale can be a great buy for move up buyers, or in some cases, scale back buyers.
In Winchester, Virginia there are 58 active short sales on the market as of January 26, 2012. Prices range from $59,900 - $589433. The local Winchester / Frederick County offerings range from 2 bedroom - 1 bath properties to large 5 bedroom - 4.5 bath homes with land.
No matter what your price range, Winchester, VA has a short sale to meet your budget. Large, or small or somewhere in between, we can accomodate just about any buyer. So, before you skip a short sale because they have a reputation for being difficult, give us a call. We can help you find the house of your dreams at a discounted price, and we can show you just how easy buying a short sale can be.