Fairfax Detached Home with an Assumable Loan-SOLD

By
Real Estate Agent with Integrity Real Estate Group

9000 Linda Maria Court Fairfax VA
The buyer was surprised and the sellers were surprised but today my listing in Fairfax went to closing with a 4% assumable loan.  Why the surprise?  Because up until a few days before closing no one thought that Wells Fargo would honor the assumable loan written by Wachovia.  They certainly made it complicated enough.

The title company said they had to dust off the instruction book as they hadn't seen an assumable loan in 10 years.  With more FHA loans being written today than in previous years we can all expect to being dealing with the differences between assumable loans and conventional loans for the next few years.

Though this home only stayed on the market a few days the assumable loan was a big draw and was a part of what won the buyers over.  Tonight the buyers are in their new home in Fairfax and my clients are looking over the water in their new home in Belmont Bay.  You have to love it when it all comes together even on a rainy day.

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                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

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Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

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Rainmaker
256,463
Alexander- Slocum
RE/MAX equity group - Vancouver Washington - Vancouver, WA
REMAX Team- Vancouver WA Real Estate

Hello Cindy, great job!  It's fun when one of these assumable loan-transcations come to fruition.  Kat had one this year that was an assumable loan, financed by the previous owner.  It got our guys in where a conventional loan would not have.  John

Oct 15, 2009 08:36 PM #1
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

John-this was an FHA product and the lender even seemed surprised they had such a loan on their books.  It was a great deal for the buyer as the original interest rate they were quoted was 5.25% on a conventional loan.

Oct 16, 2009 06:55 AM #2
Rainmaker
238,236
Pat Fenn
Marketing Specialist for CJ Realty Group/Cindy Jones Broker - Springfield, VA

Congratulations on another great sale.  Some agents suggest they have business through their blogs but you can prove that you do!

Oct 11, 2010 07:42 PM #3
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Cindy Jones

Pentagon, Fort Belvoir & Quantico Real Estate News
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