Short Sale Condo Manassas Park VA APPROVED by Bank of America!
We were excited to hear about this approval from Bank of America. The seller is a long time client of mine and we were able to close yesterday just 5 days after the approval letter arrived. This client bought his condo back in 2007 new for almost $261,000. Today’s market dictated we sell it for $100,000 less than that. In the end, our seller was only asked to bring $2,500 to closing as a cash contribution and Bank of America agreed to waive their rights to the rest of the money owed. Here is the approval letter on this sale: Bank or America Approval Letter
In this case, our seller had been renting this condo out, but rent was not covering the rent, so he had to sell. When you Short Sale Condo that is an investment property, you need to be sure you’re up on what that will mean for your tax filing. Here is a quick detail from TurboTax for info purposes. Also, if you have questions, feel free to give me a call at 703-400-6757 or email me at jennifer@jyhteam.com. I look forward to talking with you.