Short Sale CLOSED in Rancho Mirage, California. Closed another Short Sale yesterday in beautiful Rancho Mirage, California.
This was a very emotional sale for my Seller. She and her recently deceased spouse had purchased their condo years ago and enjoyed many lovely seasons in it. She was very attached to the home, but with his death and her decreased income, she could not manage the mortgage payments any longer. She decided to short sale with me.
The Buyer is Canadian and was looking for a desert retreat..but it had to have a lake, private boat dock and in a gated community! Bingo! This particular condo has lakefront boat docking as well as Western Santa Rosa Mountain views over the lake. Our desert truly does have it all.
The condo's notes were with Bank of America, and were approximately $485,000. We got an approval and Close at $265,000 and Seller did not contribute anything of course.
Seller is relieved and her stress level has plummeted, and the Buyer is thrilled..he got the home of his dreams!
Short Sales really are a fantastic solution to both Sellers looking to get out of a property they cannot afford and Buyers looking for a great buy.
I list, work and CLOSE my Short Sales!