Gaithersburg, Maryland 20878
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Gaithersburg, MD 20878

2 Beds | 2 Baths
Short Sale
Listing ID: 52994706

$195,000

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons. For more check out 'First Steps' below.
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  • Property Information
    • Price: $195,000
    • Bedrooms: 2
    • Bathrooms: 2
    • Full Baths: 2
    • Total Square Feet: 964
    • Style: Contemporary
    • Fireplace: Yes
    • Heating Type: Fireplace
    • Air Conditioning: Central A/C
    • Year Built: 1987
    • Description: Top floor unit with balcony that overlooks courtyard. Fireplace and laundry room. Unit was totally upgraded in 2010, sprinkle system added. Large master bedroom with walk in closet. All in great condition. Low condo fee pays for everything but electric. Plenty of available parking right in front. Minutes to the new Crown town center and Rio for countless restaurants and shops. Easy access to 270/200 exits. Short sale, one lender, should be smooth. Copyright 2020 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
    • Comments: Listing Status: Pending
    • Source ID: MDMC661678
    • Days On Site: 198
  • Property Tax Roll
    • Subdivision: Park Summit Codm
    • School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
    • Property Type: Condo
  • AVM Report
  • County Information
  • Document Center
  • Mortgage Information
    • Estimated Monthly Payment: Payments as low as $1,024 per month
    • Monthly Payment Disclaimer:

      Based on a 30 year fixed-rate of

      5.75% with $19,500 (10%) down.

      Check rates now!
  • Contact Information
    • Agent Company: RE/MAX Realty Services
    • Agent Name: Miguel Ruiz
    • Agent Company Address: 15245 SHADY GROVE ROAD
    • Agent Company City: ROCKVILLE
    • Agent Company State: MD
    • Agent Company Zip: 20850
    • Agent Company Phone: (240) 403-0400
    • Agent Company Email: Email Now
    • Agent Phone: (240) 403-0400
    • Agent Email: Email Now

FIRST STEPS:

Short Sales

You've identified an ideal short sale property. Now what? Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value.

Read more

Indeed, the existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

On the flip side, lenders are often willing to agree to sale prices that are considerably less than what is owed on the current mortgages because the alternative is foreclosure, a costly, complicated and expensive process that will most likely only clog their non-performing asset pipeline further.

Therefore, once you identify a desirable short sale property, it's important to contact a local licensed real estate professional - or the listing agent - who can walk you through the negotiation and purchase process.

You need to act fast!

That's because short sales are time-sensitive. In addition, it's not a "traditional" transaction, meaning that it often takes longer - about four to six months on average - to close a deal.

But, more often that not, it's well worth the wait ... literally and figuratively.

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