It only took 7 months BUT we have another Bank Of America Short Sale Approval.
Location:
- Kissimmee Florida.
Details:
- Placed on the market with Tutas Towne Realty on March 1, 2009 at $89,000.
- Went pending on April 17th at $79,000 all cash Buyer.
Mortgages:
- $188,000 owed on the 1st Mortgage with Bank of America.
- $25,000 owed on the 2nd with Real Time Solutions.
Challenges:
- Keeping the Buyer on board for almost 7 months.
- The 2nd started out with Bank of America and was sold to Real Time Solutions about 5 months into the transaction.
- The Seller is an investor than owns multiple properties.
Outcome:
- Bank of America netted $69,000 (37% of what was owed).
- The 2nd received $3,000
- Only $500 cash contribution required from the Seller.
- NO note
- Happy Seller. Happy Buyer, Happy Agents
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? www.CentralFloridaShortSales.com
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.
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