Potomac, Maryland Short Sales
It’s sad, but true that the value of these well sought out luxurious homes with well manicured properties in Potomac are seeing their values drop significantly.
Some of the homes are selling for half of what they were purchased for.
Home sellers should be comforted by knowing that there are many lenders willing to take substantial losses. Frequently lenders aren’t requiring the home seller to bring money to closing. In fact, if the home is still occupied by the owner, the bank may pay the owner $10,000 at closing.
This may seem odd, but banks don’t want the sellers to vacate their homes. They know that a home left vacant is more likely to be vandalized and fall into disrepair.
We’ve helped many home sellers navigate through the short sale process, and are happy to discus your specific scenario with you, without any obligation.
Carolyn Thompson 301-674-3056