Another Successful Short Sale With Citi Mortgage.

By
Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

Property:

3 bedroom 2.5 bath townhouse in Kissimmee Florida.

Hardship:

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.

Challenges:

Getting a squating tenant out on day of closing. I finally had to go over and put on the "ugly face" to make it happen.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

 

 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Location:
Florida Osceola County Kissimmee Florida Palms
Tags:
chase
short sale
citi mortgage
short sale approval

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Rainmaker
4,445,454
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Congratulations, it is always wonderful to hear about cooperating folks.  Go Citi!

May 20, 2010 10:39 AM #1
Ambassador
534,149
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Broker Bryant...Just keep racking up those closings.  I can hear the sighs of relief from everyone involved all the way up here in Virginia.

Kate

May 20, 2010 10:51 AM #2
Ambassador
2,993,358
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Are we going to be seeing that 'ugly face'  sometime soon?
Margaret

May 20, 2010 10:54 AM #3
Rainmaker
288,942
Pippa Mac
Chevaux Group Realtor, The Woodlands and Spring - The Woodlands, TX
The Woodlands TX Real Estate

Congratulations ... its always good to hear when a short sale works!

May 20, 2010 11:16 AM #4
Ambassador
1,090,772
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

It sure is nice to see that both were in agreement and that it got to closing.  90 days is surely a quick one?

May 20, 2010 01:11 PM #5
Ambassador
1,295,629
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Well done - 90 days sounds fast nowadays for anything to happen!!   on any deal short of a cash deal.....   Well done on a great post.

May 20, 2010 02:15 PM #6
Ambassador
1,295,629
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Well done - 90 days sounds fast nowadays for anything to happen!!   on any deal short of a cash deal.....   Well done on a great post.

May 20, 2010 02:15 PM #7
Rainmaker
186,230
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

You sure it was the "ugly face" and not your weapon for ridiculous counter offers?

May 20, 2010 02:15 PM #8
Rainer
217,285
Andi Grant
310-508-4354 | FirstTimeHomeBuyerRealEstate.com - Los Angeles, CA
Helping 1st time buyers and home sellers in LA!

CONGRATS!  Could you please post a pic of the intimidating "ugly face." lol

May 20, 2010 04:16 PM #9
Ambassador
3,987,550
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

BB - Congratulations on another success.  Do we get to see the ugly face sometime? Or is that a secret weapon?

Jeff

May 20, 2010 04:28 PM #10
Rainmaker
4,797,311
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great job BB.  Hope you have thousands more.  Or actually, I hope we get into a market where short sales won't be a necessity.

May 21, 2010 12:30 AM #11
Rainmaker
1,515,897
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Success comes to those who are persistent and have an ugly face...

May 21, 2010 02:12 AM #12
Rainmaker
524,452
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Great job and quick, Bryant!

May 21, 2010 12:01 PM #13
Ambassador
1,229,656
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Squating tenants are getting more and more common, and can create a real problem is agents do not know how to use techniques such as the "ugly face." Congrats on the closing.

May 23, 2010 02:54 AM #14
Rainmaker
229,831
Nathan Tutas
Tutas Towne Realty, Inc. - Davenport, FL
Your Central Florida Real Estate Expert

Hey Dad, just in case your ugly face doesn't work, just show em mine too...

Ugly Face

May 23, 2010 02:08 PM #15
Ambassador
2,079,869
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

I am so glad to see fewer and fewer short sales coming onto the market and those that are listed seem to suddenly be closing quicker!

May 25, 2010 12:11 PM #16
Ambassador
557,018
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

LOL Son...

If his face doesn't work...I'll sic you on 'em :)

TLW...ROAR!

May 27, 2010 04:37 AM #17
Rainmaker
123,176
Kent Dills
Broker, Dills Real Estate - Bellingham, WA
Real Estate 817-495-8028, Bellingham, Washington

BB, good job on the negotiaton on this one too!  The Chase piece was brilliant! 

And ...  your son can definitely put on the "ugly face"!  Must be a chip off the old block!  ;-) 

May 29, 2010 09:24 AM #18
Rainmaker
292,151
Robin Rogers
Robin Rogers, Silverbridge Realty, San Antonio, Texas - San Antonio, TX
CRS, TRC, MRP - Real Estate Investment Adviser

I'm glad you got rid of the tenant without having to bring in the big gun--the TLW!

Congratulations!

Robin

Jun 04, 2010 11:29 AM #19
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