Several banks are now offering rebates to the sellers if they short sale their home. Wendy just wrote that Bank of America is encouraging sellers to start the process before they get an offer.
Have you been sitting on the fence about selling your Destin or Santa Rosa Beach Florida property as a short sale? Now may be the time to act. Bank of America has just announced that Florida sellers may be able to receive $5000 to $20,000 cash incentive at closing for completing a short sale. There are existing Bank of America programs that pay sellers $1500 to $3000, but this move is unprecedented. To qualify, you'll need to initiate your short sale prior to getting a contract on your Destin or Santa Rosa Beach home.
Apparently, Bank of America is enhancing its offerings to exceed federal HAFA guidelines, which currently suggest a $3000 relocation incentive to the short sale seller, and its own Co-op Program, which pays less. They are only offering the incentive to eligible Florida sellers before they get a contract at this time, but hint at future program changes
Some loans don't qualify for the program - VA Compromise Sales, Ginnie Mae, FHA and USDA, lot loans and others. If you own a property in Destin, Sandestin, Santa Rosa Beach or surrounding towns, have a Bank of America mortgage and need to short sale, the time may be now. So get a Destin short sale agent on your side, and maybe get some cash. The deadline is November 30.
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: firstname.lastname@example.org
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.