The Ballen Group closes another Bank of America Short Sale in Las Vegas for a home seller who was upside down in his property.
The Ballen Group, a top team of Las Vegas Short Sale Specialists under the brokerage Keller Williams Realty Las Vegas has put together a comprehensive Las Vegas Short sale system for sellers. Homeowners who are facing Las Vegas foreclosure can request a Las Vegas Short Sale Agent, Henderson Short Sale Agent, or North Las Vegas Short Sale Specialist to consult with them about their needs. In addition, The Ballen Group has created a custom hardship package allowing the homeowner to complete the documents required by the bank to ease the process. Although The Ballen Group never encourages a Las Vegas Short Sale, many homeowners in Las Vegas and surrounding areas are facing true hardships that force them to attempt a Short Sale rather than face Las Vegas Foreclosure.
The Ballen Group just closed a Short Sale with Bank of America for a property on the street: WILDHORSE. There was one Lien Holder, Bank of America. The property was listed for $118,450 and sold for $145,000 where the purchaser paid with cash and received no closing costs from Bank of America in this short sale. The Seller received$11,076.77 in cash back as a short sale incentive. An approval was obtained 61 days after the listing and closed 27 days after approval. Total days on the market were 88 and closed with the original buyer.
Many Las Vegas mortgages now exceed the fair market value of the home. Negative equity has become an increasing problem for the nation, but is excessive in Las Vegas. With the prices of Las Vegas homes decreasing, and the interest rates on previous subprime loans increasing, many Las Vegas home sellers have no choice but to negotiate with the bank to take less (also known as a "short") on the sale of the property. The seller proves a hardship to the bank which could include divorce, loss of income, health issues and other various situations proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Real Estate agent, such as The Ballen Group, Short Sale Agents to sell their home and negotiate the sale with the bank.
Call 702.482.7739 to speak with a Las Vegas Short Sale Specialist