Fairfax VA Short Sales Listed by Jennifer Young –  Over 62 Condos SOLD for Distressed Homeowners!
This condo’s seller has been renting this investment property out on Ridge Knoll Dr in the Oxford House complex for quite a while, but the rent payment did not cover the mortgage payment anymore. So, my team listed the home at $299,900 in mid-January. No offers yet, so we have just reduced the price to $289,900 so that we can attract a strong buyer. The seller owes his lender over $300K…add in closing costs and realtor commissions and the market price does not allow him to fully pay off his debt to his lender. So, we are helping him short sale his condo.
What all will the lender pay for at closing in regards to selling a condo?  It all depends on the seller having a real estate agent that is seasoned in condo short sale negotiations! In many cases, there are late condo fees owed, taxes owed, HOA fees owed, etc. I, and my team, work hard to get those paid by the lender so the seller doesn’t have to bring any $$ to the table. Every case is different, but this is what our team strives for…and we fight for a deficiency waiver as well so that the lender won’t come back for the remainder of what’s owed at a later date.
For more info on what it takes to short sale a condo or any other property in Fairfax County in Virginia, call me, Jennifer Young, at 703-400-6757 or email me at jennifer@jyhteam.com. I am the short sale EXPERT in your neighborhood!