Tutas Towne Realty and Bryant Tutas just had another successful Davenport Florida Short Sale closing with Bank of America.
The property:
Investment Property. 4 bedroom 3 bath pool home located in the Aviana community of Davenport Florida. This home has 1,532 sq ft of living area and was built in 2006. It was purchased new in 2006 for $321,200. It Sold 8/15/2012 for $124,000. That's a decline in value of 61% in 6 years.
Liens:
- 1st Mortgage with Bank of America for $288,000
Hardship:
- Loss of income. Loss of renters.
Summary:
I placed the property on the market 14 January 2012 for $129,000. We negotiated a deal at $124,000, 4 days later. Unfortunately we lost the buyer and had to place the property back on the market on 22 February.
10 days later we placed the property pending again at $124,000. It took 90 days to receive the short sale apporval. BUT...this buyer backed out as well!!So...we placed the porperty back on the market and found another buyer in 9 days at $124,000 again.
Even though this was supposed to be a "soft decline" with Bank of America it took another 60 days to get a revised approval.
Tutas Towne Realty closed the transaction on 15 August 2012. Even though we had to sell the property 3 times it was still only 214 days from listing to closing!!
Bank of America accepted $128,400 or .45 cents on the dollar for the 1st mortgage.
***The Seller received FULL WAIVER OF DEFICIENCY with a $15,000 cash contribution.
Do you need help with your Florida Short Sale?
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 Bank Short Sale
- HomeEq Short Sale
- Fifth Third Bank Short Sale
- ING Direct 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
- Indy Mac
- One West Bank
- DTA Solutions LLC Short sale
- Green Tree Servicing Short Sale
- Ocwen Short Sale
- Flagstar Bank Short Sale
- Freedom Short Sale
- Seterus Short Sale
Can we add you to our list of successful Short Sales?
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