The Ballen Group just closed a Short Sale with Wells Fargo for a property on the street: CAPE VERDE in Las Vegas Nevada. There were two Lien Holders, AHSMI, and Wells Fargo which was a HELOC. The property was originally listed for $198,969 and sold for $150,000 cash with no closing costs or contributions from the bank. It took 53 days from accepted offer to approval and the seller was waived of any deficiency pursuit.

Many Las Vegas mortgages now exceed the fair market value of the home. Negative equity has become an increasing problem for the nation, but is excessive in Las Vegas. With the prices of Las Vegas homes decreasing, and the interest rates on previous subprime loans increasing, many Las Vegas home sellers have no choice but to negotiate with the bank to take less (also known as a “short”) on the sale of the property. The seller proves a hardship to the bank which could include divorce, loss of income, health issues and other various situations proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Real Estate agent, such as The Ballen Group, Las Vegas Short Sale Agents to sell their home and negotiate the sale with the bank.

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Call 702.482.7739 to speak with a Las Vegas Short Sale Specialist and Request your Las Vegas Short Sale Kit.

A Summary of The Ballen Method

1. Complete the Quick Qualifier with the Short Sale Agent to determine if you would be a good candidate for a Short Sale in Las Vegas and what short sale program may apply.

2. Consult with your attorney and CPA in regards to your specific situation. Remember, Nevada Real Estate Agents are not trained nor licensed to give advice on legal ramification or credit consequences of a short sale. We do have an attorney standing by to consult with you. Ask the agent about it when you call 702-482-7739.

3. Meet in our office with the short sale listing agent to authorize the listing and prepare your short sale hardship package. This is where your help truly starts and the Short Sale Process gets underway.

4. We Market your home aggressively using our Comprehensive Ballen Method to Marketing homes for Sale in Nevada.

5. We find you a Ready and Willing Buyer

6. Your designated Ballen Group Short Sale Manager will work with the negotiators to determine and discuss the Nevada property value and the buyers offer as well as your hardship situation.

7. We receive your approval letter and present to you for decision making.

8. It is suggested that at this time you meet with your attorney and accountant to determine your choices now that the terms are stated in writing from the lien holder(s)

9. CLOSE the short sale transaction and you are able to move on with your future.