Northern Virginia Short Sales

Below are all short sales listed in the MLS in Northern Virginia, you won't find a single-stop page to see the short sale opportunities anywhere else! Short sales can be a bargain if you have patience, and for savvy investor with the right resources and an experienced Lighthouse Team agent, it is a good investment.

NOTE: Use the sidebar (if on desktop) or menu below the short sale list (if on mobile) to see foreclosures!

A Quick Primer on Short Sales

The term short for a short sale is a misnomer because the time frame required for purchasing a short sale is typically anything but short.

In a short sale, the owner is almost always in default with the bank and they are unable to sell the property and make enough money to pay off their mortgage. Rather than allowing the property to go into foreclosure, the owner makes a deal with the bank that if they can sell it for the best price they can, the bank agrees to get "shorted" in the process and receive less money than it would take to pay off the mortgage. They clear the lien from the house and relieve the owner of the remaining debt. Hence the term "short".

Most of the time the initial list price for a short sale Is not an approved price from the owner's lender. Have your Lighthouse team buyer's agent ask the listing agent if the current price has been through an approval process with the bank.

The process for the bank to approve and offer from initial reception until approval usually takes at least two and sometimes up to eight months or more. Purchasing a short sale often requires an immense amount of enduring patience.

Because the owner is most likely in default and unable to make their loan payments, it is highly unlikely they will be able to make any repairs that may be identified in home inspection. Have your Lighthouse team buyer's agent negotiate for a home warranty, and be prepared for the seller to be unable to make any repairs.

Short Sale Listings Below

Let us know if you would like a custom short sale search set up for you meeting your investment price range and region, and we'll be happy to help you. We can add Maryland and Washington DC and customize with a price range as desired.