The Ballen Group, Real Estate Agent Team, Closes A Bank Of America Short Sale In Las Vegas, Nevada
The Ballen Group, Las Vegas short Sale Specialists of Nevada closes another Bank of America Short Sale for a homeowner in Las Vegas, Nevada.
- Las Vegas, NV-AZ (1888PressRelease) October 26, 2011 - 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 REDWOOD in Las Vegas was listed for $170,000 and closed at $160,000 with a $4800 closing cost contribution from Bank of America to the buyer. Full deficiency waiver, no cash contribution/promissory note, and was an FHA buyer. In total, the Redwood Property had 3 buyers under contract. The first two buyers exited the contract prior to approval which is common in the short sale process but always extends the time frame from listing to close. The third and final buyer took a total of 47 days from contract to close.
The sellers on REDWOOD 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.
A Summary of the Ballen Method
1. Complete the Quick Qualifier with the Short Sale Agent to determine if you would be a good candidate for a Short Sale in Las Vegas and what short sale program may apply.
2. Consult with your attorney and CPA in regards to your specific situation. Remember, Nevada Real Estate Agents are not trained nor licensed to give advice on legal ramification or credit consequences of a short sale. We do have an attorney standing by to consult with you. Ask the agent about it when you call 702-482-7739.
3. Meet in our office with the short sale listing agent to authorize the listing and prepare your short sale hardship package. This is where your help truly starts and the Short Sale Process gets underway.
4. We Market your home aggressively using our Comprehensive Ballen Method to Marketing homes for Sale in Nevada.
5. We find you a Ready and Willing Buyer
6. Your designated Ballen Group Short Sale Manager will work with the negotiators to determine and discuss the Nevada property value and the buyers offer as well as your hardship situation.
7. We receive your approval letter and present to you for decision making.
8. It is suggested that at this time you meet with your attorney and accountant to determine your choices now that the terms are stated in writing from the lien holder(s)
9. CLOSE the short sale transaction and you are able to move on with your future.
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