JP Morgan Chase Short Sale SOLD in Burke Centre – Burke, VA Short Sale Success!

The lender for both trusts on this short sale listing on Quiet Pond in Burke, VA is JP Morgan Chase. They are currently owed over $400K, but we SOLD it as a short sale for $238,000. We received the file in March of 2011 and the foreclosure date had been set already, but we helped the owner get approved with HAFA and we were able to help stop the foreclosure without an actual contract in on the property. During negotiations, the lender actually agreed to pay the sellers a cash incentive at closing of $20,000. They were excited at first, but after talking with a tax professional, they decided to skip the incentive and lower the selling price to help with possible appraisal issues before closing. The deficiency rights are waived and the sellers were NOT asked to bring money to closing. Here was their note to us after closing:

Hi all,

We wanted to take the opportunity to extend our appreciation for all the help you have provided throughout the short sale process.  There were very challenging times and tedious to say the least, but you helped us get through it.  Without your help it wouldn’t have been possible.  For that we will always be grateful.

I think the wide smile on our faces at the end of closing should have said tons – for those that weren’t present – A SINCERE THANK YOU!

Thank you all again!
Sincerely,

The Reyes

Thanks to our clients for placing their trust in us! If you know anyone who might need our help, call me at (703) 774-9572 or email me at me. If you would like a referral to a tax professional with short sale experience, email me and I can get you that info as well.