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It Was a Good Week for Florida Short Sale Approvals at Tutas Towne Realty
 
Hi folks. Short Sales DO get approved. It just takes patience, organization and negotiating skills. In the last 7 days the following lenders have issued approvals for our Florida Short Sales.
Orlando Florida Short Sale with Bank of America

 
 
Property sold for $127,000. The amount owed Bank of America is $200,000 on the first and $38,000 on the 2nd. The 1st agreed to $109,894 (55%) the 2nd $3,000 (8%). The property was listed in March 2010. Bank of America denied a contract of $130,000 in April. This week they accepted $127,000!! I guess their decision back in April cost them us another few thousand.  
 
Davenport Florida Short Sale with US Bank (FHA) and PNC Bank

 
 
Property sold for $60,000. Since FHA will only allow $2,500 to be paid towards the 2nd the Buyer agreed to pay PNC Bank an additional $4,000. US Bank was owed $93,500 and accepted $51,000 (53%) and the 2nd with PNC Bank was owed $61,500 they accepted $6,150 (10%). We had a buyer that fell out last week because they would not come up with the additional $4,000 for the 2nd. We placed it back on the market ... more

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