Property Q&A in Falls Church>Question Details

Mike, Home Buyer in Dulles, VA

Is the house on Forest Drive, Falls Church VA 22046 still available? It is listed foreclosure to be sold 5/15

Asked by Mike, Dulles, VA Tue May 19, 2009

If still available, how would I buy it? If not, what is the sail price?

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Mike, this home was listed as a short sale and has been under contract since February; however the contract is contingent on third-party approval (that is, approval by the lender(s)). If the sale is not approved by the lender(s), it may still go to foreclosure. This home was originally listed on November 18 for $799,000; the list price at the time it went under contract in February was $749,000. It will probably be several more months before it closes and the sale price is made public.

Just so you know ... the "listings" shown by RealtyTrak are not actual listings of property available for sale. RealtyTrak scrapes foreclosure notices from newspapers' web sites and publishes partial information here in order to get people to subscribe to their web site (for a price, of course). You can get the same information by perusing the foreclosure notices in the Washington Post, Washington Times, and DC Examiner. The "estimated bid amount" is actually the amount in default on the first trust - it may or may not have anything to do with the eventual list price.

If you have any questions about short sales and/or foreclosures, I would be happy to answer them for you.
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