Congratulations to my first time home buyer clients- we got a GREAT deal on a short sale!

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Real Estate Agent with Prudential PenFed Realty

My clients, Mehwish and Sajjad had a very good idea what they wanted when we started our search almost 3 months ago. Armed with some thoughts on location and amenities they wanted and needed- they had got an FHA approval with their lender, Wesley Burdette from Access Capital Mortgage. Once we figured out what they wanted to spend per month on a payment, we went house shopping! We looked at several short sales and a few foreclosures. We stopped at new home communities in South Riding, Stone Ridge and Braddock Corner and a few in Herndon as well. Mehwish wanted a new home, Sajjad wanted an end unit town home wherever they ended up. We found a fantastic home in Faulkner's Landing, Ashburn. These are Beazer homes that are 2 years old. The community is selling in the low $300's. My clients actually got a price below their budgeted amount and we got the seller to pay 3% in closing costs! Short sales can be scary but I have successfully sold plenty and have also listed short sales and navigated the way for my clients in all cases! Congratulations to my friends and Clients, Mehwish and Sajjad - many happy years in your new home!!!

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Anonymous
Anonymous

Congrats!  Just curious, did the bank or the seller give the 3% closing help?  How does it work for a short sale?  Thanks.

Nov 21, 2008 03:11 AM #1
Rainer
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Kelly Gaitten
Prudential PenFed Realty - Leesburg, VA

thanks.  The listing agent was smart - she had a negotiator for her short sale.  The bank gave my buyers back 3% at the table.  Our offer was $345k with 3% back at closing and it was accepted.  The house appraised with no problems. I had FHA buyers who brought 3% down and then got that extra closing assistance. It is a beautiful thing!

Nov 21, 2008 03:32 AM #2
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Rainer
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Kelly Gaitten

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