Tuesday, July 23, 2013

Another successful short sale by Adam - Silver Spring (Kemp Mill), MD home

(301)943-4370



A few months ago I sold this home to first time home buyers and explained to them that the home was a short sale and it could take at least a few months for the short sale to go through, but the home was a good value.  Fortunately, the buyers were renting a home and in a position where they could wait for a short sale to be approved. 

We were fortunate that the short sale approval process took just over 2 months. I have had short sales take 6 months before getting approved.  Some buyers are in position to wait that long, others are not and others don't have the patience.

If you are considering buying a short sale, consider that you do need some patience - that is emotion. As far as the home buying process, if you are purchasing a home with a loan, it is not wise to lock in the interest rate until the short sale is approved because there are limited and defined lock periods, but we do not have a defined short sale approval wait period. You can lock in a rate and pay to extend the lock, which could be a good plan if your rate is amazing. But, still, you don't know how many times you would have to pay to extend the lock and if you would have come out better waiting for the short sale to be approved before locking in a rate.

I have experience in both standard sales and not standard sales.

If you are thinking of purchasing a short sale or foreclosure, I have been involved in several deals and can draw on those actual experiences to give you the service you deserve.

Whether you or someone you know is thinking of relocating, your first move should be calling Adam Bashein for a free no-hassle consultation.  I always have time for and am grateful for your referrals.


Life is good!

-Adam 
Call:  (301)943-4370
O:  (301)469-4700 -ask for Adam
adambashein@mris.com
www.basheinhomes.info

Adam Bashein
Licensed in MD & DC
Long & Foster Real Estate, Inc.

information deemed to be accurate but not guaranteed

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