Category Archives: Closed Short Sales

Yes, there is such a thing as a Successful Short Sale. When a seller is able to say good-bye to an underwater property and avoid foreclosure, that is a very good thing. And when the lender agrees to forgive the deficiency, that is truly the end goal. Read below for just a few examples of successful short sales.

Asheville Short Sale with 2 Wells Fargo Liens

This short sale involved a beautiful townhome near the Asheville Farmer’s Market.  I am still amazed that homes in this neighborhood are selling around $200,000.  But that’s the reality of the real estate downturn. This short sale scenario was one that I see quite often – a first mortgage and a home equity line.  While […]

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Yet Another Successful Asheville Short Sale with Wells Fargo

This condo was a pretty typical Asheville short sale.  There was one mortgage with Wells Fargo.  At the time I took the listing, the mortgage was not in default, and HOA fees and property taxes were also current.  There is a misconception among borrowers that they must be in default by as much as 90 […]

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Wells Fargo Home Equity Short Sale near Asheville

This just sold in February 2013.  It was a bit unusual in that there was a HELOC (home equity line of credit), but no purchase mortgage ahead of it.  The loan was with Wells Fargo Home Equity.  Dealing with WF Home Equity is completely different than negotiating with WF Home Mortgage.  WF Home Mortgage uses […]

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Biltmore Lake Condo – 3 Lien Short Sale!

This condo sale closed just before the end of the year, and it took only about 3 and a half months from the time we put the property on the market until the time it closed.  Once the offer came in, we needed just about 2 months to close the sale.  There were 2 mortgages […]

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Investment Lot – Fairview, NC


This was an investment lot near Asheville, North Carolina with a Bank of America loan.  The final sale price was approximately 44% of the outstanding loan balance.     But that’s not the best part…the best part is that the short sale approval letter from Bank of America waived any right to pursue the deficiency […]

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Two-mortgage home in Gated Community

This property languished on the market with 2 different real estate firms before my colleague and I got the listing.  It had 2 mortgages, both with New York Community Bank (formerly AmTrust).  The mortgage debt was nearly $500,000.  In addition, property taxes, homeowners association dues, and a homeowners association assessment were all successfully negotiated.

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Greenville, South Carolina Short Sale

This beautiful home near Greenville, SC languished on the market for over a year with no offers.  But once we got the price right and the short sale process under way, the sale was successfully negotiated with the lender (Chase) within a few short months. Many thanks to Pinpoint Realty in Greenville, SC for all […]

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Investment Log Cabin – Black Mountain, NC

This home lingered on the market for about 18 months as a non-short sale.  However, market realities set in and the sellers accepted a short sale offer, which was successfully negotiated by an attorney. The home had one mortgage with a local lender.  This was another investment property, yet the sellers were left with no […]

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Wells Fargo Short Sale – Black Mountain, NC

This short sale was incredibly over-leveraged.  The outstanding debt to Wells Fargo was more than twice the amount the property sold for as a short sale.  Yet again, this short sale was attorney-negotiated (as they all should be).  That’s a function of the property condition (not so good) and market condition (also not so good).  […]

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Black Mountain Log Cabin Vacation Home

This home was a vacation rental cabin about 30 minutes from Asheville, North Carolina.  In other words, it was a second-home investment property.  The lender was Asheville Savings Bank (a community bank), and there was one mortgage.  This short sale was successfully negotiated within only a few weeks, with the seller receiving a full satisfaction […]

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