Springfield Short Sale with NationStar Just Listed


Terrific brick front end unit TH backing to woods in small enclave of homes in Newington Forest. 3 finished levels & a great open floor w/spacious living rm, separate dining rm & sun filled eat in kitchen w/table space. MBR has dressing area & walk in closet. Finished LL has rec room leading to private rear yard w/deck backing to woods & parkland. Amenities include pool, tennis. Minutes to Metro!

This short sale is with NationStar

Why is it called a short sale?

The name “Short Sale” is definitely misleading especially to the general public who tend to take it as being a fast sale on a home. This can be confusing and frustrating as many people find out their “short sales” do not in fact take a “short” amount of time.

The term “short sale” comes from the seller coming up “short” on their loan. The seller is trying to avoid foreclosure, so is therefore trying to make a deal with their bank. Their home is now worth less than they owe on it. They essentially negotiate with the bank to “shorten” their loan and accept a lesser amount of money to pay it off.

A short sale can take anywhere from 30 days to a couple years to complete. The seller has to go back and forth between the bank to get the bank to accept less money. This is an in depth process and can take a while especially if the agents involved do not keep close tabs on the bank and other parties involved.

If you are considering either buying or selling a short sale, please give our team a call. We can help make the process much less painful than it has to be. We have a lot of experience with short sales and know how to negotiate well with the banks to try to get an acceptable offer in a reasonable amount of time.
Call us today!