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Poinciana Florida

Another successful Short Sale approval in Poinciana Florida.

Property Value: $85,000 to $90,000

Amount owed: $185,000

Hardship: Loss of rental income on several rental properties (this one included)

Loan details: Fannie Mae with Mortgage Insurance

Property was placed on the market on May 8th for $109,000.

The price was slowly dropped until it went pending on June 10th at $85,000.

After about 6 weeks Fifth Third came back wanting the Seller to bring $35,000 to closing. The Seller offered $1,000. The transaction fell apart and the Buyer walked.

The property was placed back on the market on August 20th. On August 27th it went pending again at $87,500. A complete Short Sale package was sent in again on September 2. Within days Fifth Third came back wanting $35,000. The Seller stood firm on his offer of $1,000. Finally after several attempts to get him up Fifth third agreed to $1,000 cash at closing.

We received written approval on September 18 only 16 days after submitting the 2nd contract and package. Sometimes the second time is a charm.

Working Short Sales is very rewarding. If you want to learn more...........

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 
Customer Testimonials

Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.

Chase Short Sale,Sun Trust Short Sale, GMAC Short Sale, Wells Fargo Short Sale,Bank of America Short Sale,USA Bank Short Sale,PNC Bank Short Sale,Citi Short Sale,HomeEq Short Sale,Fifth Third Bank Short Sale,ING Direct Short Sale,GreenTree Short Sale,Capital One Short Sale,ASC Short Sale,First Horizon Short Sale,E-Trade Short Sale,Transland Financial Short Sale,US Bank Short Sale,IBM LBPS Short Sale,
Nationstar Short Sale,BAC Florida Short Sale,Real Time Solutions Short Sale,Fannie Mae Short Sale
FHA Short Sale,Selene Finance Short Sale,DTA Solutions LLC Short sale,Flagstar Short Sale,IndyMac Short Sale

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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

 
This post has been included in Florida Real Estate News Polk County, FL Real Estate News Poinciana, FL Real Estate News
Post is included in group: Real Estate Rookie
Post is included in group: Realtors®

15 Comments on Poinciana Short Sale Approval From Fifth Third Bank in 16 Days

SEP
19
2009
936,830 Points 361 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Reserved for TLW
6:02pm • #1
288,572 Points 38 Featured Posts Outside Blog

What's the saying, can't get blood from a rock? Somehow I think if the seller had $35,000 lying around he might not be so desperate to sell. Anyway, great job. After all, you are the short sale pros now? :D
6:06pm • #2
447,818 Points 36 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Bryant,

Well done! Short Sales are a free bet on the wheel, some times you can win! More importantly there are no losers! Buyers ether win or they don't. Sellers ether win or they are no worse off than they were.

Bill
6:17pm • #3
565,411 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Broker Bryant, I like the look of this post. Not a marketing perspective I've tried...but I like it. Short sales are so different in our market and new ideas are good. Thanks for your expertise in all matters!
9:55pm • #4
1,007,471 Points 208 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Hi Bryant!  Congrats on the quick approval from 5/3--the second go-round!  Just as someone said above, if the seller had $35K to bring to closing, chances are they wouldn't be in this position! 

Great job!  Hope you're enjoying the family and I'm sure TLW is still grinning from ear to ear, isn't she?!

Debe in Charlotte
10:21pm • #5
SEP
20
2009
708,932 Points 63 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Bryant.  Congratulations on the quick approval on this offer!  That's a great result for everyone involved.
2:03am • #6
591,941 Points 22 Featured Posts Outside Blog Attended Rain Camp

Why the heck is the bank trying to get the seller to bring $35,000 to the table on a short sale? If they've agreed to a short sale, obviously the seller doesn't have that much money? Unless they've been poking around in his personal bank accounts? And even if they did that, who's to say that the money in his accounts isn't for taxes?

Anyway, I wanted to send you over to another post to weigh in. You wrote a post a while back, about writing multiple offers. I remember you had some valid points, and I already know it's legal to do this if it's done properly. But I just read another post by John Occhi, asking if buyers think they're getting slick by making multiple offers, and agents are helping them to commit fraud! Sooo. I'd LOVE to hear what you have to say about that post.
6:19am • #7
220,536 Points Hit Router Attended Rain Camp

Hello Bryant, great to see persistent on the part of you and your seller to achieve a successful outcome.  I agree with Lisa that it seems quite counter-productive on the part of the lending bank to demand $35,000 from the seller; and clearly improves the odds of the property going to the foreclosure auction.  Thanks.  John
10:14am • #8
367,865 Points 38 Featured Posts Outside Blog Hit Router Called Shot Master

Fantastic job, Bryant!!  How did you do that? Also, this appears to be one  of those banks  that doesn't "start" at  the beginning...  good to know.
10:29am • #9
936,830 Points 361 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi there. I wanted to mention that the request for money came from the MI company not 5/3. I guess I should have made that clearer in my post.
5:55pm • #10
SEP
21
2009

Quick question for anyone that can answer this.. What ever happened to that proposed "60 million dollar" toll road that was suppose to connect to Champions Gate? My commute to work is nuts! You can tell the difference between the drivers in the Poinciana area with drivers in other parts of the state. Thanks
Chris
11:18am • #11
SEP
22
2009
975,451 Points 17 Featured Posts Hit Router Called Shot Master

Great job Bryant.  Do you want to do some negotiating for me?
5:47am • #12
SEP
23
2009

CAN SOME ONE PLEASE ANSWER THE PREVIOUS QUESTION AND STOP OVERLOOKING SOMETHING SO IMPORTANT.. 

"Quick question for anyone that can answer this.. What ever happened to that proposed "60 million dollar" toll road that was suppose to connect to Champions Gate? My commute to work is nuts! You can tell the difference between the drivers in the Poinciana area with drivers in other parts of the state. Thanks"

 
FED UP WITH LIES
12:27am • #13
936,830 Points 361 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Chris, That's a good question. I have no idea. I've hearing about that road for many years. My guess is that it has now been put on hhold duie to the economy. However I do not know that sure.
6:39am • #14
SEP
26
2009
That amazes me, if you google " Poinciana parkway" toll road - you will see a few articles that say construction already began and will open on 2008.. That's our money that has been wasted. Imagine how many people could have been assisted by the wasteful APV, even this city study was a waste because it included communities that have nor want anything to do with being apart of Poinciana. Just a rant
chris
11:29am • #15

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Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc

Poinciana, FL

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Bryant Tutas-Tutas Towne Realty, Inc

Address: 628 Grand Canal Dr, Poinciana, Fl, 34759

Office Phone: (407) 870-9003

Cell Phone: (407) 873-2747

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