Washington DC Short Sales For Sale

The process of Washington DC Short Sales falls into the same basic category as foreclosure sales. It simply means purchasing a house for less than is owed on it. This involves working with the lender that holds the home’s mortgage as they have to agree to a loss on their end. In a short sale, the home owner hasn’t yet legally given up the house, yet they may be in default on one or more payments. The process can be lengthy, as three parties have to agree – the buyer, the seller, and the bank. Washington DC passed a foreclosure act in 2010 and subsequently strengthened it. The idea was to either keep owners in their homes or to encourage other means of resolving a deteriorating ownership position. In many cases, the short sale has been a way to bridge the gap. For more information about Washington DC short sales for sale, contact us today!

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60 Properties Found. Page 1 of 4
Photo of Listing #DCDC428898

2425 L St Nw #936

WASHINGTON, DC
$1,299,000

MLS#: DCDC428898
2 Bed, 2 Bath
1779 Sqft, 0.01 Acres
Residential

Photo of Listing #1000162387

116 Quincy Pl Ne

WASHINGTON, DC
$700,000

MLS#: 1000162387
3 Bed, 1 Bath
0.03 Acres
Residential

Photo of Listing #DCDC435870

3212 17th St Ne

WASHINGTON, DC
$650,000

MLS#: DCDC435870
5 Bed, 3½ Bath
3172 Sqft, 0.11 Acres
Residential

Photo of Listing #DCDC439220

1922 1st St Nw #b

WASHINGTON, DC
$650,000

MLS#: DCDC439220
3 Bed, 3½ Bath
2258 Sqft, 0.02 Acres
Residential

Photo of Listing #DCDC400046

6916 Nw 8th St Nw

WASHINGTON, DC
$565,000

MLS#: DCDC400046
3 Bed, 3 Bath
1963 Sqft, 0.11 Acres
Residential

Photo of Listing #DCDC432196

417 Ingraham St Nw

WASHINGTON, DC
$550,000

MLS#: DCDC432196
4 Bed, 3 Bath
1779 Sqft, 0.06 Acres
Residential

Photo of Listing #DCDC436600

1830 Ne Capitol Ave Ne #c

WASHINGTON, DC
$525,000

MLS#: DCDC436600
3 Bed, 2 Bath
1444 Sqft, 0.03 Acres
Residential

Photo of Listing #DCDC434368

1808 Upshur St Ne

WASHINGTON, DC
$520,000

MLS#: DCDC434368
3 Bed, 3 Bath
2294 Sqft, 0.15 Acres
Residential

Photo of Listing #DCDC401642

3800 Nash St Se

WASHINGTON, DC
$515,000

MLS#: DCDC401642
5 Bed, 3 Bath
4475 Sqft, 0.11 Acres
Residential

Photo of Listing #DCDC439236

3234 Robert Clifton Weaver Way Ne

WASHINGTON, DC
$505,000

MLS#: DCDC439236
3 Bed, 3 Bath
1804 Sqft, 0.07 Acres
Residential

Photo of Listing #1000313756

114 Quincy Pl Ne

WASHINGTON, DC
$500,000

MLS#: 1000313756
5 Bed, 4½ Bath
2760 Sqft, 0.04 Acres
Residential

Photo of Listing #DCDC441444

3022 Sherman Ave Nw

WASHINGTON, DC
$499,000

MLS#: DCDC441444
3 Bed, 1 Bath
1020 Sqft, 0.03 Acres
Residential

Photo of Listing #1001585902

629 Columbia Rd Nw

WASHINGTON, DC
$475,000

MLS#: 1001585902
4 Bed, 3½ Bath
0.04 Acres
Residential

Photo of Listing #DCDC436064

5524 Jay St Ne

WASHINGTON, DC
$475,000

MLS#: DCDC436064
4 Bed, 4½ Bath
5424 Sqft, 0.17 Acres
Residential

Photo of Listing #DCDC424474

5111 13th St Nw

WASHINGTON, DC
$450,000

MLS#: DCDC424474
4 Bed, 2½ Bath
1489 Sqft, 0.09 Acres
Residential

 

Washington DC Short Sales For SaleIn a short sale, the buyer through their real estate agent, writes a short sale offer and includes a list of comparable home values in an effort to convince the lender that they will receive somewhere in the vicinity of market value. The seller also has to submit paperwork to their bank or lender, including a financial statement, a letter explaining their hardship position, and a comparative market analysis that may demonstrate the the value of the home is less than what is owed. In Washington DC, short sales can also be complicated by steadily rising sales prices and a shrinking inventory.

Definitions and contractual matters aside, Washington DC short sales can benefit both sides. For a seller it can be a path out of crippling debt and legal proceedings. For a buyer, it can mean a steeply reduced price. Finding these opportunities can take some diligence and there is not the same footprint that once accompanied typical foreclosures, such as distressed properties or blighted neighborhoods. A home available through short sale can be modest or substantial, in the city’s trendy epicenter or in an outlying suburb.

In Washington DC like in other areas of the country, listing services will often lump foreclosures and short sales together. There are also many situations in which a house headed toward default isn’t yet listed for sale and won’t show up in the publicly available listings. Buyers who are interested in short sales or pre foreclosure situations won’t often know when a seller is getting behind on mortgage payments. Working with an experienced real estate agent that knows the territory and has good relationships with banks and lenders is important – despite the simplistic sound of the term, short sales are neither quick or simple. They can however, result in a substantial savings.

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than Compass are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2019.

Listing information last updated on October 14th, 2019 at 11:46am EDT.