Another  Happy Short Sale Seller in Bowie MD

Bowie, MD:  Just sold another condo in Bowie MD for $120K. The condo is a three bedroom, 2full bath in move condition when it was listed back in November of 2013 as a short sale, by January 2014 the condo was damage because of busted pipes. Along with the water damage the loan servicing was transferred to another lender. Transferring loan during short sale process is now a common practice with many lenders and this will slow down the short sale process.  The new lender required that the short sale packaged be resubmitted and start the process all over. After months of going back and forth  they  finally approved the short sale  in March 2014 with a lower contract price because of the water damage and thankfully the buyer was patient to buy the house.  The outstanding mortgage balance on the Bowie condo is $305,823.04, it was short sale for $120,000 with the lender forgiving the balance and the buyer getting a good investment property.

Short sale is still very much part of the real estate market in Bowie MD even as we recover from the housing bubble of 2007.  To get market update on your Bowie MD  property or  If you like to know your options if you owe more than your house is worth contact me  via email @ keji@metrohomesrealty.com

Keji & Associates of Fairfax Realty, Inc is dedicated to providing exceptional service to home We ‘WOW’ our client with outstanding customer services from getting pre-approved to closing on your first or second home.

Keji & Associates is a real estate team based in Lanham with Fairfax Realty, Inc . Keji and the team members are seasoned real estate professionals.

Keji & Associates: Fairfax Realty,Inc

10210 Greenbelt Rd #120, Lanham, MD 20706

301-613-2043

www.Metrohomesrealty.com