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