Virginia Beach Larkspur Ct — For sale

Sean Schroeder | The Real Estate XChange | 757-839-3954 4700 Driver court, Virginia Beach, VA Corner lot in established neighborhood. Updated kitchen with stainless steel appliances and more. 3BR/2BA Single Family House   offered at $315,000 Year Built 1959 Sq Footage 1,776 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 1 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION It is all about location.. This magnificent home is centrally located in Virginia beach. Less than 2 miles from Mt. Trash more, Virginia Beaches large park featuring skating, numerous play grounds, and more! The home is conveniently located to shopping centers, the new Virginia Beach town Center, Pembroke mall and many fine restaurants. This home features hardwood floors, a screened in porch and updated kitchen to include stainless steel appliances and granite counter tops.   see additional photos below PROPERTY FEATURES Central A/C Fireplace Hardwood floor Family room Living room Breakfast nook Dishwasher Refrigerator Stove/Oven Granite countertop Stainless steel appliances Yard COMMUNITY FEATURES Garage parking       ADDITIONAL PHOTOS Seller contact info:   Sean Schroeder The Real Estate XChange 757-839-3954 For sale by agent/broker   Equal Opportunity Housing Posted: Oct 25, 2008, 7:56pm PDT

 

Short Sale Questions ( FAQ )

Throughout the day I am contacted by home owners who are, or soon be, behind in their payments, unable to sell their home because they are “upside down”  or are facing family issues such as a divorce or loss of a job.  These home buyers, like you are looking for options.  One option is a Short Sale, this is a list of questions that I receive and some general answers to those questions.

1. What is a Short Sale?

   A: Simply put a short sale is when you the home owner offers your home for sale below what you owe on it, asking the bank to take a loss.
    

2. I am not behind on my payments, but I can’t sell my home because I owe more than the house is
   worth.  Will the bank approve me for a short sale? 

   A: We can list your home below what you owe on it making any purchase agreements “contingent”upon the banks approval. There is no such thing as “Short Sale approval”
   

3. When I purchased my home, the bank required PMI how will this affect a short sale?

   A: First the bank required the insurance to protect their interest in the property not to protect you.  Once a ratified contract is received it is sent to the bank for bank approval.  The bank will not give permission until the Insurance Company approves the short sale.
   

4. How will  short sale affect my credit score?

   A:  In general if you are behind in your payments these rolling lates will show up on and lower your credit score.  It is easier to recover from a short sale than it is from a foreclosure.

5. I recently missed my mortgage payment, and know that I will miss my next payment as well.  How long do I have before the bank forecloses on my home?

   A:  The foreclosure processes can begin at anytime that the bank feels it is necessary.  However, generally it can take up to 6 months before the bank actually does foreclose.  In some cases by listing the home, and actively working to find a buyer, the bank may be less likely to foreclose.
   

6. I am ready to get out from under my house, what should I be prepared to do to?

   A: Your agent will ask you for your financial information when you have a ratified contact including pay stubs, bank statements, purchase agreement, listing agreement and most importantly a hardship letter.
   

7. I am living paycheck to paycheck and don’t plan to walk away from this sale with anything.  How can I afford to pay your brokerage fee?

   A: First as a short sale, the bank will not approve the sale if you receive any funds or contribute any monies to the buyer.   Further, any existing escrows or monies owed to you from the taxes will go directly to the bank.  As for the brokerage fee, this is paid by the bank. 

8. Do I have to claim the short sale on my taxes as income?

   A: Once the bank approves the short sale, they issue a letter outlining the conditions of the short sale.  Due to the fact that the bank is losing money, and the money was loaned to you the home buyer, you will receive a 1099C for the deficiency
   

9. Will I still be responsible for the property taxes?

   A: The home sale must transfer free and clear of all liens, including taxes.  Yes, you will still be responsible for the taxes, unless the bank has agreed to bring them current.
   

10. How long should it take for my home to sell? 

    A: The great news is that because you are selling your home short, we can price and market your home to a larger audience and to a group of home buyers that are looking for a great deal, or as I like to call them “wholesale” buyers.  This will result in a quicker sale, after all price is King!  
     

My name is Sean Schroeder, a REALTOR and member of the National Association Of REALTORS ( NAR).  My job is to help you, my client, with your real estate needs. In this case, my job is to help you sell your home, to help you start over, everyone deserves a second chance.

If you find yourself in a situation where your mortgage payments have gotten out of control due to interest rate adjustments, loss of employeement, family changes or other situations please call me today to discuss your options and how I can assist you. 

Sean Schroeder, REALTOR
The Real Estate XChange
757-839-3954

seanschroeder@757realproperty.com
www.HRSHORTSALES.com

The Real Estate XChange 517 Baylor Ct, Chesapeake Va. 23320