4802 Foxhall Cres Nw
WASHINGTON, DC
$1,800,000
MLS#: DCDC430252
7 Bed, 5½ Bath
6410 Sqft, 0.33 Acres
Residential
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!
Search Washington DC Short Sales For Sale
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61 Properties Found.
Page 1 of 5
2425 L St Nw #936
WASHINGTON, DC
$1,299,000
MLS#: DCDC428898
2 Bed, 2 Bath
1779 Sqft, 0.01 Acres
Residential
4240 Blagden Ave Nw
WASHINGTON, DC
$815,000
MLS#: DCDC100403
5 Bed, 3 Bath
3209 Sqft, 0.22 Acres
Residential
116 Quincy Pl Ne
WASHINGTON, DC
$700,000
MLS#: 1000162387
3 Bed, 1 Bath
0.03 Acres
Residential
6916 Nw 8th St Nw
WASHINGTON, DC
$670,000
MLS#: DCDC400046
3 Bed, 3 Bath
1963 Sqft, 0.11 Acres
Residential
1222 Hamilton St Nw
WASHINGTON, DC
$650,000
MLS#: DCDC402848
3 Bed, 1½ Bath
1838 Sqft, 0.11 Acres
Residential
3212 17th St Ne
WASHINGTON, DC
$650,000
MLS#: DCDC435870
5 Bed, 3½ Bath
3172 Sqft, 0.11 Acres
Residential
5529 13th St Nw
WASHINGTON, DC
$565,000
MLS#: 1004178953
4 Bed, 2 Bath
2200 Sqft, 0.05 Acres
Residential
1830 Ne Capitol Ave Ne #c
WASHINGTON, DC
$525,000
MLS#: DCDC436600
3 Bed, 2 Bath
1444 Sqft, 0.03 Acres
Residential
1808 Upshur St Ne
WASHINGTON, DC
$520,000
MLS#: DCDC434368
3 Bed, 3 Bath
2294 Sqft, 0.15 Acres
Residential
3800 Nash St Se
WASHINGTON, DC
$515,000
MLS#: DCDC401642
5 Bed, 3 Bath
4475 Sqft, 0.11 Acres
Residential
114 Quincy Pl Ne
WASHINGTON, DC
$500,000
MLS#: 1000313756
5 Bed, 4½ Bath
2760 Sqft, 0.04 Acres
Residential
629 Columbia Rd Nw
WASHINGTON, DC
$475,000
MLS#: 1001585902
4 Bed, 3½ Bath
0.04 Acres
Residential
5524 Jay St Ne
WASHINGTON, DC
$460,000
MLS#: DCDC436064
4 Bed, 4½ Bath
5424 Sqft, 0.17 Acres
Residential
5111 13th St Nw
WASHINGTON, DC
$450,000
MLS#: DCDC424474
4 Bed, 2½ Bath
1489 Sqft, 0.09 Acres
Residential
In 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 August 19th, 2019 at 9:03pm EDT.