Harlingen Texas Short Sale Success: Azua Real Estate - Experts in the Rio Grande Valley TX Market
As the real estate market continues to see price drops, many home buyers who bought a home are seeing the value of their real estate purchase drop in value. This is especially problematic for owners who must sell their home because of a life altering event that requires selling a home that has very little equity in it. This happens when the money still owed to the mortgage company is more than the money that would be left over once the home is sold on the open market and all fees, commissions and closing costs are paid. Azua Real Estate, with its vast network, recently orchestrated the swift sale of this Harlingen Texas home in the Rio Grande Valley Texas.
Property Overview:
• Client Profile: The estate of G. Barrientos , Executor : Widow of Mr. Barrientos
• Location: Near Harlingen Texas a mid-sized city in The Rio Grande Valley Texas
• Property Type & Price: Single Family Residence – Ranch style Built 2020. Current Market Value $245,000.
• Duration: 53 Days Listing to Closing.
• Real Estate Broker Name: Azua Real Estate powered by eXp Realty Global Investor Agent Group
• Mortgage Details: Mortgage payoff amount $276,000.00 including late fees and penalties.
• Special Features: Recently built to the most desired features. ¼ acre lot in a desirable newer subdivision. Excellent Condition with no repairs needed.
• Negotiation Highlights: Azua Real Estate negotiated a Short Sale with the mortgage lender to take less money than was owed and release seller them from any further obligations. Short Sales are complicated transactions that require submitting numerous lenders’ required documentation, and usually take more than six months to navigate through. Improper negotiations with lenders could result in a deficiency judgment against the borrower adding insult to injury.
Azua Real Estate stands out with its in-depth local knowledge, vast network of professional service providers, retail and institutional buyers, and a dedicated team that ensures every property gets the spotlight it deserves. Our team utilizes cutting-edge technology for property listings, ensuring high visibility across multiple platforms. Furthermore, our personalized approach means every client gets a tailored strategy, maximizing the chances of a swift sale.
Clients benefit from our swift sales process, transparent dealings, and the assurance of getting the best value for their properties. Our reputation in The Rio Grande Valley Texas’ real estate market speaks volumes about our commitment to excellence. Beyond just transactions, we build lasting relationships, offering post-sale support, market insights, and investment advice to our clientele. This holistic approach ensures our clients are not just satisfied but delighted with our services.
Challenges Faced by Clients in the Current Market:
The seller owed more than the market value of their home. Since the primary income earner had recently died, the surviving spouse could no longer pay the mortgage and the seller had fallen behind on their mortgage payments by several months. The lender was requesting the money owed to them and were threating foreclosure.
The seller originally asked that we list the home at $305,000. She chose that number to account for what she needed to pay off the loan amount plus late fees and penalties, commissions and closing costs. She knew and had accepted the fact that she would not be walking away with any money from the sale of her home but she did not want to have to put up money out of pocket just to close the transaction. After consulting with her and making her realize that an overpriced home would not sell and put her in jeopardy of foreclosure, we priced the home at current market value and assured her we would negotiate the short sale with the lender for a mutually agreeable pay-off.
Our team of professionals worked with seller, buyer, lender, appraisers, and title company to harmoniously close this short sale in record time. We helped turn a bad situation for all parties involved from turning even worst through our effective negotiations and skills.
Summary:
· Seller was elated with the result of the sale of her home and relieved that no deficiency judgement would be placed on her.
· Buyer was very happy with the purchase of this well-maintained home in a desirable neighborhood.
· Lender (Bank) avoided expense of foreclosure, unwanted possession of a costly asset, and mitigated further losses.
If you or someone you know are in a similar situation that requires a short sale, please make sure you work with a knowledgeable broker who has experience with short sales. If you have questions about how short sales work feel free to contact Azua Real Estate – Global Investor Agent Team powered by eXp Realty 956-245-1730.
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