Richard Ballen, Las Vegas Short Sale Specialist Closes Another Las Vegas Short Sale

June 5, 2010 - PRLog -- Richard Ballen, a Las Vegas Realtor with the Summerlin office of Coldwell Banker Wardley Real Estate, specializing in Las Vegas Short Sales, Henderson Short Sales, and North Las Vegas Short Sales, has successfully negotiated and closed a short sale transaction where a lender accepted a “short” amount on Las Vegas Real Estate, saving the sellers from being another Las Vegas Foreclosure statistic.

The property, located in Summerlin with a Las Vegas MLS list price of $199,900 was a 2 story, 2100 square foot home where the mortgage was in default. After many negotiations with the bank with no solutions, the home owners contacted Richard Ballen to negotiate a Las Vegas short sale on their behalf. The process was not easy, but with the strong negotiating powers, problem solving and a comprehensive marketing process, Ballen achieved the difficult approval to close the home.  As with all Las Vegas short sale approvals, there must be a ready & willing buyer to purchase the home at what the bank considers “fair market value” based on their appraisers values. The seller opted to short sale their home rather than allow a Las Vegas Foreclosure in hopes of having a better credit score and the ability to purchase Las Vegas Real Estate again in approximately 2 years.

Sometimes, to avoid going through the costs of foreclosure, a bank will sanction a short sale by allowing a Buyer to purchase the home for less than the mortgage balance while the home is in pre-foreclosure stage. Pre-foreclosure state is the first of the three stages of foreclosures.

There are some basic steps of a short sale process : 1.) Seller signs a listing agreement with a real estate agent subject to selling as a short sale with third party approval. 2.) A Buyer makes an offer for less than the amount of the mortgage. 3.) Seller accepts the Buyers purchase offer. 4.) Sellers lender accepts the Buyers purchase offer. 5.) Transaction closes when the Buyer delivers the funds, the bank releases the lien and the Seller delivers the deed.

Richard Ballen, who prides himself on his problem solving skills, attends Short Sale Training and classes and stay up to date on bank requirements and policies. Ballen is very successful in marketing & selling Las Vegas, North Las Vegas, and Henderson Short Sales and helps home sellers valley wide. He holds a high standard, and practices professionalism, honesty, and ethical practices at all times. Unethical practices or the “encouragement” to enforce a short sale are not tolerated by Richard.
Richard Ballen, The Wizard of Las Vegas Short Sales, works his magic and get's the deal done!
For help with your Las Vegas Real Estate, Equity or Negative Equity - Contact Richard Ballen, The Wizard of Real Estate. Richard will work Magic with your Las Vegas Short Sale, Henderson Short Sale, or North Las Vegas Short Sale.

CALL 702.604.7739 - E-MAIL sold@richardballen.com - www.TheLasVegasShortSaleSpecialist.com
Richard Ballen - The Wizard of Las Vegas Short Sales



Helping Homeowners: *Hardship *Healing *Happiness

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For help with your Las Vegas Real Estate, Equity or Negative Equity - Contact Richard Ballen, The Wizard of Real Estate. Richard will work Magic with your Las Vegas Short Sale, Henderson Short Sale, or North Las Vegas Short Sale.