Braemar Garage Townhouse Off the Market in Five Days!
This one car garage, end unit townhouse in Braemar hit the market on May 6, 2013 priced at $285,000. Being a Short Sale, the Sellers realized that the buyer pool would be limited to those who could wait thirty to forty-five days for bank approval of the sale. They were shocked, when just two days into the listing period, they had two offers on this three bedroom, two full/ two half bathroom home.
The winning offer had the home removed from the MLS (multiple listing service) just five days later.
Now begins the process of getting the short fall of the mortgage payoff approved by the mortgage holder….in this case, the VA (Veterans Administration.) While commonly known as a Short Sale, the VA’s version of a Short Sale is called a VA Compromise Sale but works much the same as a Short Sale. The difference being that the VA Compromise Sale does affect your VA eligibility amount for future home purchases with a VA loan.
If you or someone you know has been relocated with the military and owes more than they are going to get for the sale of their home, call me and we’ll discuss the Short Sale option for your home. I’ve been working with Bristow and Gainesville Short Sales since 2007 and can put my experience to work for you.
Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®