Tutas Towne Realty and Bryant Tutas just had another successful Dunedin Florida Short Sale closing with IndyMac-One West Bank.
The property:
2 bedroom 2 bath single family home located in Dunedin Florida. This home has 1,476 sq ft of living area. It was purchased in October of 2005 for $205,000. Sold yesterday for $101,000.
Liens:
- 1st Mortgage with IndyMac-One West Bank for $190,000
- 2nd Mortgage with IndyMac-One West Bank for $38,000
Hardship:
- Curtailment of income. Relocation.
Summary:
This was a pretty straight forward Dunedin Florida Short Sale. I was contacted by the Buyer in August about wanting to purchase this property. She had contact info for the sellers so I contacted them and put the deal together. The initial offer was for $72,000. After negotiating back and forth with the lender the buyer agreed to a price of $101,000.
The Buyer is a first time home buyer and ended up using a FHA 203k Rehab Loan to purchase the property and added about $25,000 worth of repairs into the loan.
The Sellers had abandoned the property after an unsuccessful short sale with another agent and were thrilled to be contacted about doing the deal. We were able to negotiate a full waiver of deficiency with no cash contribution or promissory note being required.
I never saw the property, never me the seller or the buyer. The entire transaction was handled via email and text messages.
Tutas Towne Realty placed the property on the market August 12 at $75,000. The transaction closed on December 20. 130 days from listing to closing!!
This property sold for $101,000. IndyMac accepted $88,000 or .46 cents on the dollar for the 1st mortgage and they accepted $3,000 or .08 cents on the dollar for the 2nd mortgage.
The Seller received full Waiver of Deficiency.
Do you need help with your Florida Short Sale?
Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.
- Chase Short Sale
- Sun Trust Short Sale
- GMAC Short Sale
- Wells Fargo Short Sale
- Bank of America Short Sale
- USA Bank Short Sale
- PNC Bank Short Sale
- Citi Short Sale
- HomeEq Short Sale
- Fifth Third Bank Short Sale
- ING Direct Short Sale
- GreenTree Short Sale
- Capital One Short Sale
- ASC Short Sale
- First Horizon Short Sale
- E-Trade Short Sale
- Transland Financial Short Sale
- US Bank Short Sale
- IBM LBPS Short Sale
- Nationstar Short Sale
- BAC Florida Short Sale
- Real Time Solutions Short Sale
- Fannie Mae Short Sale
- FHA Short Sale
- Selene Finance Short Sale
- Indy Mac
- One West Bank
- DTA Solutions LLC Short sale
Can we add you to our list of successful Short Sales?
Are you facing foreclosure in Florida?
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? www.CentralFloridaShortSales.com
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