The Ballen Group, Leading short sale agents in Las Vegas at Keller Williams Realty Las Vegas, has solved another short sale problem for a Nevada Homeowner facing foreclosure. The Ballen Group, specializing in Las Vegas Short Sales, Henderson Short Sales, and North Las Vegas Short Sales, has successfully negotiated and closed a short sale transaction where a lender (Bank of America) accepted a “short” amount on Las Vegas Real Estate, saving the sellers from being another Nevada Foreclosure statistic.
The property on Glorious Sun in Las Vegas was listed for $127,000 and closed at $127,000 with $1,100 closing cost contribution from Bank of America to the buyer. Full deficiency waiver, no cash contribution/promissory note, and was an FHA buyer. The buyer took a total of 28 days from contract to close, after a 182 day wait for approval.
The sellers on Glorious Sun were in default and the homeowner was facing Foreclosure in Nevada. After many negotiations with the bank with no solutions, the home owners contacted The Ballen Group to negotiate a Las Vegas short sale on their behalf. The process was not easy, but with the strong negotiating powers, problem solving and a comprehensive marketing process, Ballen achieved the difficult approval to close the home. As with all Las Vegas short sale approvals, there must be a ready & willing buyer to purchase the home at what the bank considers “fair market value” based on their appraisers values. The seller opted to short sale their home rather than allow a Las Vegas Foreclosure in hopes of having a better credit score and the ability to purchase Las Vegas Real Estate again in approximately 2 years.
The Ballen Group, a top team of Las Vegas Short Sale Specialists under the brokerage Keller Williams Realty Las Vegas has put together a comprehensive Las Vegas Short sale system for sellers. They call it The Ballen Method to Short Sales. Homeowners who are facing Las Vegas foreclosure can request a Las Vegas Short Sale Agent, Henderson Short Sale Agent, or North Las Vegas Short Sale Specialist to consult with them about their needs. In addition, The Ballen Group has created a custom hardship package allowing the homeowner to complete the documents required by the bank to ease the process. Although The Ballen Group never encourages a Las Vegas Short Sale, many homeowners in Las Vegas and surrounding areas are facing true hardships that force them to attempt a Short Sale rather than face Las Vegas Foreclosure.
Many Las Vegas mortgages now exceed the fair market value of the home. Negative equity has become an increasing problem for the nation, but is excessive in Las Vegas. With the prices of Las Vegas homes decreasing, and the interest rates on previous subprime loans increasing, many Las Vegas home sellers have no choice but to negotiate with the bank to take less (also known as a “short”) on the sale of the property. The seller proves a hardship to the bank which could include divorce, loss of income, health issues and other various situations proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Real Estate agent, such as The Ballen Group, Short Sale Agents to sell their home and negotiate the sale with the bank.
Call 702.482.7739 to speak with a Las Vegas Short Sale Specialist and Request your Las Vegas Short Sale Kit.