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Another Happy Bank of America Short Sale Seller in Columbia, MD. I just sold a townhouse in Columbia Maryland for $195,000. My seller client bought this large 4 level townhouse in Columbia, MD in 2006 for $325,000. By 2013 it was time for her to move because of commuting distance to her job in D.C, but because the property is now worth less than what she bought it , she decided to rent out the townhouse in Columbia. The townhouse was rented out to a family of 4 ,however within 2 months of renting she started having problems with the tenants. The tenants problem was a nightmare as she has to take off from work many times to go to court, she received many citations from the City of Columbia because the tenants are putting trash in front of the townhouse and many more problems. She finally decided to sell the townhouse last year November as a short sale. The Bank of America short sale started very well with multiple offers within few days in the market. Once the seller accepted an offer , we submitted the short sale package to Bank of America. Bank of America short sale process used to be very fast ,but for some reason this year they’ve been extremely slow, and after months of waiting, numerous appraisers by Bank of America the short sale was approved in May 2014. The buyer finally closed on the short sale on June 20th, my seller client was extremely happy and relieved. The outstanding balance on the townhouse in Columbia MD is $290,500, it was short sale for $195,000 with lender forgiving the balance of the loan. Short sale is still very much part of the real estate market in Maryland even as we recover from the housing bubble of 2007. To get market update on your 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.
10210 Greenbelt Rd #120, Lanham, MD 20706 301-613-2043 www.Metrohomesrealty.com
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