This Fort Walton Beach Florida VA Compromise Sale home just went under contract after one day on the market. Located in the Overbrook subdivision at 776 Overbrook, it attracted multiple offers due to competitive pricing. Some of the features of this home included striking ceiling heights, wood laminate floors, generous kitchen and Florida room.
The VA Compromise Sale is a type of short sale for home mortgage loans back by the Veterans Administration. This VA Compromise Sale is serviced by Bank of America. Some of the requirements to get a VA Compromise Sale approved are:
- The borrower (seller of the VA Compromise Property) must have a hardship
- A VA Appraisal must be conducted
- Net proceeds from the sale are to be a minimum of 85.05% of the appraised value. This is a change in the program effective October 2013 from the prior years net value requirement of 88.13%.
This Fort Walton Beach Florida VA Compromise Sale will be transacted with Bank of America by fax and email, as opposed to most other Bank of America short sales which are processed through the Equator online platform. The expected time for approval is about 60 days.
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
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