Short Sale Team In Las Vegas Closes Another Bank of America Short Sale In Las Vegas.

The Ballen Group closes another Bank of America Short Sale in Las Vegas with all Deficiencies Waived

Las Vegas (I-Newswire) September 12, 2012 - The Ballen Group just closed a Short Sale with Bank of America for a property on Wild Horse Rd in Las Vegas. Bank of America was the only Lien Holder in this Short Sale. The property was listed for $118,450 and sold for $145,000 where all deficiencies were WAIVED. The purchaser paid cash for this Bank of America short sale. The Seller received an approval letter with no deficiency language and an incentive of $11,076. An approval was obtained only 61 days after the listing and closed 27 days after approval.

The sellers were in default and the homeowner was facing Foreclosure in Nevada. After many negotiations with the bank with no solutions, the home owners contacted The Ballen Group to negotiate a Las Vegas short sale on their behalf. The process was not easy, but with the strong negotiating powers, problem solving and a comprehensive marketing process, Ballen achieved the difficult approval to close the home.

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.

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.