short sale: Chase Short Sale Approval in 5 days!!! - 07/11/10 08:48 AM

Short Sales never cease to amaze me. Just when I'm really getting fed up with how slow Chase is they give me an approval in 5 business days!!! The other Chase Short Sales I have done all took 6 months or more so this one was truly a surprise. Hopefully this is a sign of things to come.
One of the reasons this one got approved so quickly is that the Seller had been working with Chase for over a year trying get a loan mod and then trying to do a Short Sale by herself. By the time she … (23 comments)

short sale: A Guide To Assist With Your Bank of America Short Sales - 07/09/10 10:43 AM
Hi folks. Here's a helpful guide put out by Bank of America. To find more useful information like this be sure to visit We now have almost 3,000 Short Sale Professionals sharing information to make handling Short Sales easier for all. Pop over and check us out. It's FREE!!!
BofA Agent Education Guide

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more?
***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

Copyright © 2010 | All … (99 comments)

short sale: Another Successful Florida Short Sale With Bank of America. - 07/07/10 10:09 AM

This wasn't the easiest Short Sale but after 14 months and 5 buyers we finally got it closed. Another Florida Short Sale success story. The property: 3 bedroom 2 bath single family home located in Saint Cloud Florida. It was bought new in 2006 for $253,500. The owner was transferred almost immediately and was never able to move in. It has never been lived in. Liens:
Mortgage with Bank of America for $235,000 HOA lien for $3,800 County lien of $300 for mowing Hardship:
Loss of income Issues:
This property was placed on the market in March of 2009. … (18 comments)

short sale: Responsible Rex and his Responsible Default. - 07/05/10 06:06 AM

Hi folks. Let me tell you a little story about one of my Short Sale Sellers. Let's call him "Responsible Rex". I met Rex many, many years ago. On most days we are very good friends and on some days I don't like him at all. But overall he's a pretty good guy. And he happens to be a Real Estate Broker. Back when Real Estate was really booming Responsible Rex, like many others, started buying property. He did OK on a couple of flips and reinvested that money into rental properties. All were financed. Things were going well. The … (84 comments)

short sale: Foreclosure Deficiency Judgment Compared to Deed In Lieu and Short Sale Scenarios - 07/05/10 12:15 AM

Folks. if you want the real scoop on deficiencies, judgments, Deed in Lieus, foreclosures and short sales in Florida please read this great article by Richard Zaretsky, Esq.
We get so many questions about what is a DEFICIENCY JUDGMENT and how it differs from other possibilities including DEED IN LIEU OF FORECLOSURE or SHORT SALE.  Recent blogs and Broker Bryant provided a request that I write a detailed article explaining and differentiating these three items.
This article is written based on Florida law, but most state laws are similar.  Be sure to contact your own attorney for your … (10 comments)

short sale: Lenders Once Again Didn't Kiss Us Before......... - 06/30/10 09:44 AM
.......ramming it home!!!
You know I read stuff like the article below and it really just pisses me off. Brokers and agents like myself have been busting our butts for several years now working Short Sales to help salvage people's credit and help reduce the losses to the lenders. 
Short Sales help keep neighbiorhood values up and are  a service to the community. We convince people to not just walk away from their obligations but instead to try and do the right thing. Then I read this........
Lenders use deeds-in-lieu to clear out inventory
WASHINGTON – June 30, 2010 … (25 comments)

short sale: Touring a Kissimmee/Poinciana Florida Short Sale. - 06/29/10 11:57 AM
Hi folks. Here's a video I took today to show you how real estate has changed. This particular property was sold by me back in 2005 for $170,000. Today I placed it on the market to help the current Seller avoid foreclosure. It's now listed as a Florida Short Sale. Hopefully we'll get $30,000-$35,000 for it. Incredible for a 3 bedroom 2 bath pool home. Enjoy the tour!
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more?
***I am NOT an Attorney nor do I play one on TV. Click the button … (23 comments)

short sale: Citi Mortgage Approves Kissimmee Florida Short Sale AND issues a Waiver of Deficiency. - 06/23/10 01:19 AM

3 bedroom 2.5 bath townhouse in Kissimmee Florida.
Investor owned property. Loss of income. This is the 3rd Investor Short Sale we have completed for this Seller.
1st Mortgage with Citi Mortgage for $92,000. Agreed to accept $54,442 or 60% of the balance owed.
No Seller contribution or promissory note. Citi Mortgage issues a waiver of deficiency. It doesn't get any better than this.

This Kissimmee Short Sale transaction took 35 days from listing to closing!!!
None. The property was placed on the market on May 18th. It went pending May 21st. The Kissimmee Short Sale … (14 comments)

short sale: Lakeland Florida Short Sale For Sale - 06/15/10 09:42 AM
Folks. This Lakeland Florida Short Sale has room to roam with 4 bedrooms/2.5 baths with 2885 sq ft of living area and built in 2005.
Located in Hunters Greene.
Only $129,000 Short Sale. Listing price may not be sufficient to cover all encumbrances, closing costs, or other seller charges and sale of Property at full listing price may be conditioned upon approval of third parties. Please only serious buyers. Great property for the money. Very spacious. Huge family room/kitchen area. Formal living room. All bedrooms upstairs. Walk in closets. security system. Property backs up to a small pond. Please allow … (4 comments)

short sale: What percentage of Short Sales close? - 06/13/10 06:29 AM

Hi folks. This question has been on my mind for months now. "What percentage of Short Sales really close?" Most folks throw out numbers of 20% to 25%. But my opinion is that they are not only wrong but they are way off. I have been pulling data for several days now from my MLS trying to come up with some empirical proof. But it just ain't happening.
The problem is I can't tell how many withdrawn and expired listings were actually re-listed and closed. I guess I could flag the current listings and monitor them over a period … (105 comments)

short sale: Making a Video. Don't over think it. Just shoot it and be done. - 06/11/10 07:29 AM
Hi Folks. I noticed today is video day on ActiveRain so thought I'd shoot one for ya. TLW and I have been posting videos on AR for almost 4 years now. Old to the game but always looking to improve. Hopefully this one will get you motivated. Let me know if you like it. 
***Video is the property of ROAR!! Productions More Videos from ROAR!! Productions
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more?
***I am NOT an Attorney nor do I play one on TV. Click the button … (33 comments)

short sale: Short Sales. Liquidation or Salvage? - 06/02/10 09:03 AM

Hi folks. Over the past few years I have had some heated discussions with Investors about Short Sales. The biggest discussion is usually about price. Investors of course are out to purchase the Short Sale as cheaply as they can so they can turn around and flip it for a profit. Their argument of course is that the Seller can't receive any funds from the deal so the price shouldn't matter to them.
Of course, I totally disagree with this thought process. Sellers DO care how much their property sells for. And it does matter. It matters when they get … (20 comments)

short sale: Pricing the Short Sale Right is Imperative for Success. - 05/26/10 06:46 AM
One of the keys to having a successful Short Sale is pricing. Now there are folks that say pricing doesn't matter because the seller is receiving no funds anyway. Well....they're worng. Tell that to the seller who has to pay taxes on the "short".
It is imperative that the Short Sale property is priced right. When I say "priced right" I mean as close to market value as possible at a price that will get the property under contract quickly.
One of the problems I see in my market is that many Short Sales are priced way to low. Pricing low … (19 comments)

short sale: Another Successful Short Sale With Citi Mortgage. - 05/20/10 10:38 AM
3 bedroom 2.5 bath townhouse in Kissimmee Florida.
Investor owned property. Loss of income.
1st Mortgage with Citi Mortgage for 92,000. Agreed to accept $55,200 or 60% of the balance owed.
2nd Mortgage with Chase in the amount of $62,400. Agreed to accept $3,000 to release the lien and an additional $12,000 to release liabilty.
Seller contributed $1,700 to closing and $12,000 to the 2nd.
The transaction took 90 days from contract to closing.
Getting a squating tenant out on day of closing. I finally had to go over and put on the "ugly face" to make it … (19 comments)

short sale: My Seller Was Foreclosed On And It's Partly My Fault!! - 05/18/10 10:08 AM
OK so I lost one of my listings to foreclosure last week!! I guess if you do enough Short Sales it's bound to happen. Chase was the lender and they would not stop the sale. So the gavel slammed down and the house is gone.
It sucks to say the least. But there's more.......
......against my better judgment I accepted this listing from another Broker about 100 miles from me. He was hired to handle the Short Sale negotiations and I co-broked with him to place the property on the market.
About 6 weeks ago I received an email telling me … (150 comments)

short sale: Should We Submit an "Offer" on A Short Sale Just to Start Negotiations? - 05/14/10 10:31 AM
Hi Folks. We had one of our members over at post an article wanting to know if it was normal for Short Sale Agents to submit "offers" on their Short Sale listings just to get the ball rolling. The idea of course is to start negotiations with the lender by submitting an offer that may not be real, or it could just be a very low offer from an investor and, then substituting a real contract once a legitimate Buyer is found. In theory, this speeds up the process.
She used this Internet ad that she found as an example:

short sale: Persistency is the Key Ingredient in a Successful Short Sale. - 05/12/10 10:47 AM

Hi Folks. If you deal with Short Sales you know they can be very frustrating. And of course Bank of America has always been one of the worse to deal with. At least until came along. Now, at least from my experiences, Bank of America Short Sales are becoming much easier. In fact I have closed on two in the last 10 days where I NEVER spoke to a person. The transactions were started on and were completed in less than 60 days. All automated. I LOVED it!!Then....I have this one. My last remaining "old" Bank of America … (15 comments)

short sale: Tid Bits From The Life of a Short Sale Broker in Florida. - 05/08/10 10:16 AM
The life of a Short Sale Real Estate Broker in Florida can be very entertaining AND very frustrating. Here's an outline of some of my interesting "thingies" this week. You can decide which ones were entertaining and which ones were frustrating. Come on. It'll be fun. Or not.
Had an agent want to claim a deposit for her Seller because my Buyer did not accept the counter offfer! Bank of America says the Short Sale is valued at $67,500. Bank of America, on the Buyer side, says it's worth $60,000. Sun Trust, after 8 months, finally responded to our Short … (22 comments)

short sale: OK...So how fast was your fastest closing? - 05/05/10 12:00 PM
From contract to closing? Mine was 4 days and took place in May of 2007.
A four day closing! Yep, that's right, my Sellers and I negotiated a deal on a Monday and closed it Friday afternoon. Not only that but it was a 100% financing deal on a $230,000 property and a mail away to the Seller!
Is that fast or what? The contract was fully signed late Monday and sent to the Title Company on Tuesday morning. Appraisal and survey were done Tuesday afternoon. Final mortgage approval was on Thursday and Seller docs were Emailed to them on Thursday … (20 comments)

short sale: ALL Monies Related to a Real Estate Transaction MUST be on the HUD. Right? - 05/03/10 11:59 AM

Hi folks. I've been having a discussion over at on whether or not having the Buyer of a Short Sale pay off part of a junior lien "outside of closing" without disclosing to the 1st lien holder and without placing the payment as a P.O.C. (paid out of closing) item on the HUD is Mortgage Fraud and/or a violation of RESPA.
The article is presenting a scenario where the 1st lender does not agree to pay the 2nd $7,000 from the sale. They only agree to pay $3,000. So to skirt around this the agent suggest having the buyer … (80 comments)

Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) Rainmaker large

Bryant Tutas

Selling Florida one home at a time

Winter Garden, FL

More about me…

Tutas Towne Realty, Inc and Garden Views Realty, LLC

Address: 628 Grand Canal Dr, Poinciana, Fl, 34759

Office: (407) 870-9003

Mobile: (407) 873-2747

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