12278 Granada Way Woodbridge Short Sale APPROVED!
VHDA has agreed to accept the $185,000 offer which is way less than our clients owed on the property. They will also release their lien on the property and not pursue a deficiency judgment on the owners. This is our second approval for this property after the first buyers fell through. Amazing to get 2 approvals in a short amount of time!! Our goal is to close by the end of August, and have our clients on their way to recovery!
What is the owners role in a short sale process? Click link for full article
Short Sale Owner’s Role
The role of the owner in short sales is definitely different then their role in a foreclosure. Their are benefits to buying either a short sale or a foreclosure when it comes to finding a good deal but the role the owner plays in each scenario can be drastically different.
1. Motivation
A short sale owner is very motivated to sell their home. The owner is trying to sell their home before it goes into foreclosure. If they can avoid foreclosure, they avoid a lot of financial burden and long term consequences. So these owners are motivated to be on the buyer’s side.
Foreclosure owners on the other hand can be a huge issue. They do not want their house sold, and many will fight it tooth and nail. Sometimes, it is the buyers responsibility to evict the old owners once the house is bought. There have been times where the original owners have trashed their home out of spite. These issues do not arise in a short sale situation.
