Less than a month to a Nationstar short sale approval in Milford! - Reid Real Estate Group
September 1, 2017

Less than a month to a Nationstar short sale approval in Milford!

HOME SALE CHALLENGE:

After losing money on her investment property for many years, this Milford, CT homeowner finally decided to cut her losses and sell her over-leveraged rental unit. Due to the large amount of negative equity in the property a short sale was the only realistic solution.

REID REAL ESTATE GROUP APPROACH:

Since our seller had two loans – one with Nationstar and a second with Wells Fargo, we expected the short sale process itself might be rather slow as neither lender is known for their speed. Although our seller certainly qualified and we expected would be approved, we anticipated some delays.

 

RESULTS:

It took just a few weeks to secure a strong cash buyer for our home. Our short sale packages headed to both lenders. It’s not every day that we are pleasantly surprised by lender speed, but sometimes it happens! It took just over 3 weeks for Nationstar to seamlessly process and approve our short sale, with Wells Fargo right behind. A few weeks later the buyer seamlessly closed, leaving our thrilled seller walking away free from her problem rental unit!

Last Updated on September 20, 2017 by Minna Reid

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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