SOLD Short Sale Home in Las Vegas NV

By
Real Estate Agent with Realty ONE Group ~ 702.419.5359

SOLD Short Sale Home in Las Vegas NV

 

Single stories in Las Vegas are always in high demand, such was the case with 4325 E New York Ave.

Property details:4325 E New York Ave

  • 3 bedrooms
  • 2 bathrooms
  • 2 car garages
  • living area 1,231 SF
  • lot size 7,405 SF
  • RV parking
  • fireplace
  • year built 1988

 

 

 

 

Follow the link to see all available Short Sale Single Story Homes in Las Vegas.

 

The listing was a short sale, and we knew that we have to move quickly as owner started receiving letters from lender threatening with immediate foreclosure.

All necessary paperwork was gathered, communication with lender established and even before initial package got submitted we were able to have negotiator assigned to the case. Within a first week complete short sale package was submitted, listing was taken and marketing of the property was in a full swing. Within first 10 days we received 5 offers.

With short sale transactions it is imperative to find qualified buyer, otherwise few months of hard work can easily be wasted. We were able to find such a buyer:

  • buyer was fully approved for the loan
  • understood the short sale process (length and possible outcomes)
  • had representation through real estate agent who also understood the process

Accepted contract along with all other disclosures got sent to lender. The problem was that lender few weeks back received BPO (Brokers Price Opinion) which was almost $35,000 above our comps and offer we accepted!

We immediately started valuation dispute. It took about a month, but lender finally came around and with our supporting documentation we were able to overturn the initial valuation.

 

Soon after, short sale approval letter was issued as a HAFA short sale, which put seller in position to not just receive FULL deficiency waived by the lender, but also to receive relocation assistance.

Short Sale Release Letter

 

Needless to say client was beyond happy!

 

It took another 30 days for buyer to secure financing and property officially transferred on 06/12/2015.

 

The whole process, from taking the listing to finalizing the sale took 3 ½ months, and that's including 1 month we lost disputing valuation with lender.

 

At the end everybody wins:

  • lender didn't have to go through lengthy and expensive foreclosure
  • buyer owns the property that he loves
  • seller doesn't have to worry about collection calls and lender helped with relocation

This client came to us as a referral from family that we successfully helped few years ago with their short sale with CHASE.

 

View all Short Sale Homes with Pools in Las Vegas.

 

Note about new HAFA rules:

Effective 02/01/2015, through amending Making Home Affordable Program, HAFA short sales that close on or after February 01, 2015 are eligible to receive relocation assistance of up to $10,000. Also, according to Making Home Affordable, “HAFA has a less negative effect on your credit score than foreclosure or conventional short sale.

 

If you are facing foreclosure, don't think that you are out of options! I know short sale process very well and can help you with your situation. Call or text me at (702) 419-5359 so we can discuss your options.

 

SOLD Short Sale Home in Las Vegas NV

 

 

 

 

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Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
Nevada Clark County Las Vegas
Groups:
Hyper-Local
Tags:
las vegas real estate
short sale las vegas
short sale sold
single story short sale las vegas

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Rainmaker
634,116
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

This property looks like a great value. Wishing you a speedy sale!

Jun 14, 2015 04:17 AM #1
Rainmaker
634,116
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Oops, I was so interested in the property write up I missed the SOLD title. Congratulations!

Jun 14, 2015 04:42 AM #2
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

No problem, Kathleen. Thank you for stopping by.

Have a great day.

Jun 14, 2015 06:23 PM #3
Rainmaker
4,798,519
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Michele.  Great job in getting this short sale on 4325 E New York Ave. approved and sold.  

Jun 14, 2015 09:15 PM #4
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Thank you Gabe, another happy customer. I am so glad we were able to find solution for their situation.

Jun 15, 2015 05:10 AM #5
Rainmaker
3,926,151
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Michelle,

Good job on removing this short sale on 4325 E New York Ave. from your real estate market! Short sales are not easy and I applaud you for your tenaciousness! I've subscribed to your blog.

Jun 16, 2015 09:53 PM #6
Rainmaker
314,760
Victor Amadi
PRODUCER Realty, LLC - Greenville, SC
Greenville SC Realtor

Michele Milic - Congrats on another sale!!! Best wishes for many more this year!

Victor

Jun 16, 2015 11:34 PM #7
Ambassador
2,948,896
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

more and more folks want single story thinking about aging in place.  And I just submitted a short sale offer this week so wish me luck on getting that sucker done timely.  It's not one of my favorite SS companies.

Jun 17, 2015 12:23 AM #8
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Dorie Dillard I'm very thankful this home sold with favorable terms so my clients can move on.

Thank you so much for subscribing to my blog...hopefully there would be a lot more to follow. I've gladly reciprocated.

Have a wonderful day.

Jun 17, 2015 05:58 AM #9
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Thank you Victor, my hopes too...

Jun 17, 2015 05:59 AM #10
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Tammy Lankford wishing you best of luck with your short sale. As long as you get reasonable negotiator that is communicating well, files can be moved even with the lenders that are not that great....and some truly aren't.

Have a great day and thanks for stopping by.

Jun 17, 2015 06:07 AM #11
Ambassador
4,666,965
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Congratulations on the sale Michele, short sales can be difficult, it takes a good agent to navigate the process.

Jun 17, 2015 06:36 AM #12
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Bob Crane, that was very nice of you to say, I really appreciate it!

Have a wonderful day.

Jun 17, 2015 07:28 AM #13
Rainmaker
5,782,674
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Congratulations on another successful transaction.

Have a most productive June!

Jun 18, 2015 02:19 AM #14
Rainmaker
171,342
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Thank you Roy. Much appreciated as always.

Jun 18, 2015 03:02 AM #15
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