Short Sale Information
Are you considering buying or selling a short sale property. We can provide assistance and answers to your short sale questions:
Potomac Settlement Services
7250 Heritage Village Plaza
Gainesville, VA 20155
Tel: (703) 257-1884
Fax: (571) 248-4436
206 S. Cameron Street
Winchester, VA 22601
4311 Ridgewood Center Drive
Woodbridge, VA 22192
Providing real estate settlement services and title insurance throughout Maryland and Northern Virginia, including Gainesville, Haymarket, Woodbridge, Manassas, Fairfax, as well as Warrenton and Winchester, VA.
Benefits of a Short Sale
The number one benefit of a short sale is for the lender and borrower to avoid foreclosure. Short sales are not attractive to lenders; however, a foreclosure is a less attractive option. Other benefits of a short sale include:
- Qualify to buy a new home sooner than foreclosure.
- Avoid complicated bankruptcy proceedings.
- Can satisfy entire mortgage, without lender pursuing deficiencies.
- Potential incentive to banks for opting to move forward with a short sale.
- Potential incentive to sellers for the transition into a new residence.
- Real Estate Agents are willing to list short sales because commission is available.
- Forgiveness of debt on a primary residence is not considered taxable income.
Kate Polizzi is a Virginia attorney with experience negotiating successful short sales with banks and mortgage lenders. Let Kate work on your behalf to negotiate the short sale of your property.
Contact Kate Polizzi today at (703) 656-2171 for a free consultation.