destin short sales: Destin Florida Short Sales - Sharing Negotiating Tips for Sellers - 04/24/14 02:25 AM

I got a call from a Destin Florida real estate agent asking for help with one of her short sales on behalf of a seller. She said her Destin real estate seller had read my blog posts about my experience successfully negotiating  short sales and maybe I could help. Was I bothered? Of course not! I am always happy to help a fellow agent brain storm a short sale or any other real estate problem. Specifically, this Destin homeowner had a problem negotiating a with the  second mortgage holder, also called “junior lien holder”. The lender had asked for almost the … (0 comments)

destin short sales: Sunsail, Destin FL - Bank of America Short Sale Approved - Cash Back - 12/13/13 03:03 AM

This home at 4684 Windstarr Dr., Sunsail, Destin Florida was approved for a Bank of America cooperative short sale (COOP short sale).  This Bank of America short sale program is for borrowers who don’t qualify for the Home Affordable Foreclosure Alternatives Program (HAFA) or other short sale programs, such as VA Compromise Sale and FHA HUD pre-foreclosure short sale.  This short sale was almost entirely through the approval process of about 90 days, when the first buyer walked.
Amazingly, I re-sold the Sunsail Destin Florida home in a day, and the second time the approval was swift – within one month. The bonus to the seller is that … (0 comments)

destin short sales: Bank of America – Is It Worth Initiating Short Sale Before A Contract? - 04/23/13 07:56 AM
 
The last three Bank of America short sales I had near Destin Florida, I initiated in Equator at the beginning of the listing period. Why, and more importantly, will I keep doing so?
One seller requested a pre-approval for the HAFA (Home Affordable Foreclosure Alternatives) program before listing, so I engaged Bank of America through Equator. After two months of uploading documents, having the file changed from HAFA to Cooperative Short Sale (COOP is Bank of America’s special short sale program) and back to HAFA, I was told he had to actually “list” the property before the seller would be … (38 comments)

destin short sales: 352 Sailfish, Rushlin Park, Destin FL – Short Sale - 11/12/12 06:42 AM
    Striking home at 352 Sailfish in Rushlin Park, Destin Florida.  Beautifully decorated with stunning touches. Upon entry, note high cathedral with wood-board ceiling and floor-to-ceiling brick fireplace. The kitchen has been gorgeously remodeled, travertine counters, tile backsplash, stainless appliances, repainted cabinets, new faucet - it's a dream. On the second floor, the master bedroom is tranquil and private. The second floor loft would be a perfect office with built-in desk, t.v. nook, and access to attic. The two first floor bedrooms have walk-in closets, and there is under stair storage, too. There is a large finished sunroom. Attention to … (5 comments)

destin short sales: Should I Stop Paying My Destin FL Mortgage to do a Short Sale? - 10/30/12 05:49 AM
  I just hung up the phone with an upcoming Destin Florida short sale seller. She told me she had a Bank of America mortgage. Her husband had lost his job, and that was making it difficult for them to keep up with their payments. She said they only had a few hundred dollars, and they were starting to incur credit card debt of several thousands of dollars to keep paying the mortgage. Since they could not refinance, they wanted to short sale. At one point in the conversation, this Destin seller said she read she should stop making her mortgage payments to … (2 comments)

destin short sales: Think That Bank of America Coop Short Sale is Pre-Approved? Think Again! - 11/07/11 05:36 AM

 
I am always leery of any so-called “pre approved” short sales.  The word on the street is there are only three kinds of short sales you can trust as pre-approved:  HAFA, Bank of America Cooperative Short Sale and FHA HUD Pre-foreclosure Sale.  In these cases, the list prices can be pre-approved, as can the sellers’ financials and qualifications. But are the buyers? Is the contract? Setting that argument aside, I had a recent eye-opening experience with a Bank of America Co-op Short Sale.
I listed a Destin Florida condo, with “pre-approved” Co-Op seller, at a price set by Bank of … (7 comments)

destin short sales: My Real Estate Agent Says to Take The Deficiency - 09/16/11 09:37 AM
 
Are you trying to short sale your Destin Florida home, but have multiple mortgages?  Then you'll be interested in reading the following question I received from a homeowner: "We have short sale approval letters from both Wells Fargo and a HELOC with Wells Fargo.  I am happy with the primary letter, but my question is regarding the HELOC approval letter.  In a nutshell it asks for me to agree to pay 100% back and they still have rights to sue for deficiency judgment.  My current real estate agent says that's just normal wording affirming original loan terms and that I would negotiate with the HELOC after … (3 comments)

destin short sales: The Moral Short Sale Dilemma - 07/09/11 04:43 AM

Are you considering short sale, but torn thinking it may be the most ruinous personal and financial decision you will ever make?  You are not alone.  As more families are confronted by upside-down real estate values, jobless or with limited income, the short sale question is daunting.  To many, it is a moral choice. 
I am not discussing “strategic short sales”, meaning those who can afford to pay their mortgages but choose to dispose of their property due to negative equity.  I am talking about homeowners or investors who have spent most of their savings or drained their retirement … (3 comments)

destin short sales: Is Early Occupancy OK for Short Sales? - 05/20/11 10:22 AM


Move in without closing first? Whoa! I just got an offer on a Destin Florida short sale listing with an early occupancy clause.  The buyer wants to move into the property before closing and short sale approval.  Is that a good idea? One of the negatives of short sales is the waiting time for the buyers during the short sale process. It could take 60-120 days for a short sale approval, then another 30 days for the buyer to close. Some buyers “bail” because they get wandering eyes or are tired of waiting so long.  The solution for some … (175 comments)

destin short sales: Not All Destin Short Sale Sellers Want Deficiency Waiver - 03/10/11 06:57 AM
 
 
Today’s trend in short sales is "waiver of deficiency”.  A short sale is where a property is sold without enough proceeds to pay off the mortgage debt. A "waiver of deficiency” is what happens if the lender accepts the short sale proceeds as payment in full, and cancels the balance of the debt. 
It used to be difficult to get waivers of deficiency from companies such as Bank of America and Chase.  Now it is getting a bit easier, albeit not less painful for the homeowner.  Typically, a cash contribution or promissory note is required for the lender to … (9 comments)

destin short sales: Why Should You Get a Title Search on Your Destin Short Sale? - 10/04/10 07:31 AM
 

If you are selling a short sale in Destin Florida, it’s wise to have a title search as soon as you list.
Why?  Problem prevention!  Title problems can delay short sale closings.  You don’t want to find out these issues after you finally get approval, and only have 30 days to close!
Here are some examples of what early title searches have revealed on some of my Destin Florida short sales:
1.   Seller is not aware of a mortgage.  That means we may have never submitted a short sale package to this lender.
2.   Seller lists wrong mortgage companies on letter … (13 comments)

destin short sales: How Often Should You Call the Short Sale Listing Agent? - 09/28/10 09:08 AM
                                                                                                                                                            

If you are a short sale buyer’s agent, it can often be frustrating waiting for any scrap of information for your buyer.  After all, it might be three to five months before you get short sale approval.  You don’t want to lose your buyer.  It’s best to give them as much information as possible so they feel part of the process.
But just how often should you call the listing broker to check for status?  I get a wide variety of buyer’s agents selling my Destin Florida short sales.
Agent Mellow:  He might contact me once a month to find … (51 comments)

destin short sales: 84 Batchelor's Button #6, Miramar Beach Florida - Short Sale - 09/27/10 10:29 AM

Lovely Miramar Beach Florida short sale townhome in Miramar Palms! This Batchelor's Button unit has hardy plank siding, metal roof and solid surface counters. Home has a first floor master suite with two bedrooms up. Relaxing front porch, second floor balcony, outside patio and shower. Community pool. Extra deep garage. This Miramar Beach short sale townhouse is just a few blocks from Gulf of Mexico beach and Pompano Joe's! Developer's unit. 84 Batchelor's Button Dr., #6, Miramar Beach Florida - offered for $197,000

It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email … (9 comments)

destin short sales: 103 Misty Cove, Destin Short Sale Condo, Miramar Beach Florida - 09/27/10 08:52 AM

Your Misty Cove short sale condo in Miramar Beach Florida is just a few blocks from the Gulf of Mexico and the public beach access at Pompano Joe's. Enjoy the balcony off the master bedroom and the screened in porch off of the living room looking out into the courtyard and pool. It is about 1250 square feet with two bedrooms and two full baths. Make an immediate offer!  This Destin condo in Misty Cove is about to go to foreclosure!Misty Cove Unit 103 - offered for $123,700

It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local … (3 comments)

destin short sales: Crystal Village 4B, Miramar Beach Florida - Short Sale Condo - 09/21/10 08:00 AM

Darling Miramar Beach short sale condo in Crystal Village. This second floor unit has a great view of the pool and grounds from living room and private balcony. It is delightfully painted in vibrant colors. Pleasing furnishings and accents highlight the beach lifestyle. Kitchen is tiled, open to living room, and has beadboard paneling. There are two bedrooms and two full baths, one in the master bedroom. Crystal Village is down the street from the Emerald Coast beach and Pompano Joe's. If you are looking for a great Miramar Beach short sale deal, here it is!Crystal Village Unit 4B offered at $139,900
(2 comments)

destin short sales: More Short Sale Myths - 09/13/10 10:28 AM
 
It is scary how much misinformation there is about Short Sales.  I am in the midst of negotiating an offer on one of my Destin Florida short sales.  I told the buyer’s agent the seller will be counter offering.
1. The buyer’s agent was shocked, “Counter Offer!? The seller cannot counter offer. That is up to the bank!”.
Wrong.  A seller still owns the property until the title transfers.  A seller has the right to counter offer, accept or reject any offer.  The approval of the seller's lienholder is a contingency of the contract. (The August 2010 issue of the Florida Realtor Magazine states … (10 comments)

destin short sales: 366 Holiday Rd. N, Holiday Shores, Destin Florida - Short Sale - 09/02/10 12:32 PM

Beautiful arches highlight this brick one-level contemporary at 366 N Holiday Road, in the Holiday Shores subdivision.  This Destin Florida short sale home has unique architectural touches, plant ledges and transom windows add drama. Bright kitchen with pass-through opening. Breakfast nook and formal dining room. Living room has wood burning fireplace. Dimensional roof shingles. Patio and fenced yard. Master bedroom with tray ceiling and French doors to outside. Rainsoft water conditioning system. This Miramar Beach, Destin Florida short sale is is well-located - a quick drive to the beach, bay or shopping in Sandestin, Grand Boulevard or Silver Sands.
(3 comments)

destin short sales: Wells Fargo Approves Sandestin Florida Short Sale in Magnolia Bay - 07/20/10 09:00 AM

Wells Fargo, formerly Wachovia, has approved a Magnolia Bay townhome in Sandestin Florida as a short sale.   The unusual part of this short sale was that the senior mortgage holder, Bank of America, was not "short".What does this mean?  The sales price of the property was more than enough to pay the balance on the Bank of America mortgage. That is an unusual situation in Sandestin Florida and vicinity.  Most short sales in the market area are "upside down" on both mortgages.  Usually, the senior lien holder will pay a paltry sum to the junior lien holder to "entice" them to release their lien and allow the sale.  In this case, … (6 comments)

destin short sales: 800 Wild Oak Ave., Kell-Aire Gardens - Destin Florida Short Sale - HUD Pre Foreclosure Sale - 06/18/10 01:48 AM
 
Lucky you! This home at 800 Wild Oak Ave. has an approved price for FHA HUD Pre Foreclosure short sale in Kell-Aire Gardens in Destin Florida! Dramatic home with cathedral, big, angled windows for lots of light. Double sliders lead to screened porch. Large utility room to garage, lots of closets for storage. Needs updating, but there is some newer carpeting. The lot is quite large for Destin, over three-quarters of an acre!  Think of all you can do with it! Kell-Aire Gardens is in the heart of Destin Florida.  Find Destin Harbor 5 minutes away, and also great boating out on East Pass … (5 comments)

destin short sales: CitiMortgage Delays Destin Florida Foreclosures - Due to Oil Spill - 06/17/10 01:53 AM

Leading the mortgage industry, CitiMortgage has announced assistance for borrowers in financial trouble in the oil-threatened regions on the Gulf of Mexico.  This is good news for Destin, Fort Walton Beach, Santa Rosa Beach and Navarre Florida short sale sellers.  Citi is halting foreclosures on primary mortgages it owns through September 17.  Eligible borrowers include those within 25 miles of the affected coastal regions.
Why is this good news?  Destin short sale sellers will have more time to get their properties sold.  Santa Rosa Beach short sale buyers will know that their contracts on Citi-mortgaged properties will be processed for approval without … (10 comments)

 
Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.)

Wendy Rulnick

"It's Wendy... It's Sold!"

Destin, FL

More about me…

Rulnick Realty, Inc.

Address: 12889 Emerald Coast Pkwy., Ste. 107-A, Destin, FL, 32550

Mobile: 850-259-0422

Email Me

Author Bio: Wendy Rulnick, Rulnick Realty, Real Estate Broker in Destin Florida and all surrounding towns

The market. Smart sellers. The Emerald Coast of Florida.


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