When this Hamden homeowner was forced to move for his job he unfortunately discovered his home had lost 35% of its value in the last 4 years…leaving a short sale as the only realistic option for selling the home.
VA Loans are guaranteed by the U.S. Department of Veterans Affairs (VA), and have their own short sale program – known as a “compromise sale”.
Our first buyer was secured quickly after going on market, but the buyer soon walked and we were back on market. It took two more months in the slow winter season to secure our second buyer.
I have never known VA compromise sales to be particularly speedy and this was no exception. Several more months followed as Chase took their sweet time processing the VA short sale, until finally our short sale was approved!
The buyers lender proceeded just as slowly as Chase and it took another two months for the buyer to get their loan together. Seven months after this Hamden home was first listed – This Chase VA short sale CLOSED!
APPROVED AND CLOSED WITH SELLER RECEIVING $1,500 INCENTIVE: $145,000
TOTAL TIME FRAME LIST TO CLOSE: 7 MONTHS
Last Updated on September 12, 2017 by Minna Reid