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Ocwen Short Sale Success – Lakeland FL Investment Property

By
Managing Real Estate Broker with Lakeland Real Estate Group, Inc. BK646565

Ocwen Short Sale Success – Lakeland FL Investment Property

 

Lakeland FL Seller thank you card after a successful short sale with Ocwen

Lakeland FL Short Sale closed with Ocwen successfully.  Investor owned a rental, which he bought in October 2005 for $150,900. About a year ago, he lost the tenant who left the place with a big mess.  Investor said that he needed to short short sale the property since they could not afford the property any longer due to loss of rents, decline in property value and their personal finances.  Long story short, I put the property on the market last September after it was made presentable.  By December 1, we had the property under contract.  

All was going relatively smooth despite the rumors of Ocwen’s bad communications.  Received short sale approval from Ocwen and Saxon and closing was set for March 3rd.  Final walk-thru happened the day before and lo and behold, flooding occurred because of a leaky toilette and created a big mess.  Closing was put on hold….short sale approval expired.

Seller had the place cleaned up, buyer got estimates of what it cost to repair/replace the damage and we were back at the negotiation table.  In the meantime, I was informed that Saxon sold the note to Ocwen, which it turned out in favor of my sellers.  Still after numerous phone calls, emails, none to very little communication between Ocwen and this Lakeland FL short sale agent.  Finally, Ocwen called and countered on the revised contract price.  We are still with the same buyer… Buyer agreed and we finally closed on Oct 3rd. 

Ocwen agreed to a full waiver of deficiency with no additional funds/prommisory note the seller had to bring to the table.

Property: 3 bedrooms/ 1 bath – 851 sq.ft. heated built in 1954

Listing price $65,000

Mortgage: $141,000

Sold Price: $40,000

From listing to closing – 376 days.

Do you need to sell your home as a short sale in LakelandAuburndale, Bartow, Winter Haven, Polk City, Highland City, Mulberry, Bartow, Kathleen, or Lake Alfred? Call 863-619-6918 or email petra[at]petranorris.com for a personal and confidential consultation. 

I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact Petra Norris - REALTOR(R) at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland FL real estate landscape and all it has to offer.

 

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Copyright © 2012 By Petra Norris * Ocwen Short Sale Success - Lakeland FL Investment Property* 

Comments (3)

Dawn Maloney
RE/MAX Trinity Northeast Ohio Real Estate Specialist - Hudson, OH
330-990-4236 Hudson & Northeastern Ohio

That is one cute thank you card!! And you deserve it! Keep up the good work Petra!!

Oct 18, 2012 12:35 AM
Anne Hensel
South Beaches Real Estate Professionals - Saint Petersburg, FL
Realtor - Broker - St. Pete Beach, Treasure Island

And another happy ending to a short sale in Lakeland, great job.

Oct 22, 2012 10:53 PM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Congratulations and excellent job as always! We're so proud of you Petra. Keep it up!

Oct 26, 2012 03:51 PM