West Palm Beach Fl Short Sale Success With Chase Bank

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

 west palm beach short sale

Tutas Towne Realty and Bryant Tutas  just had another successful West Palm Beach Florida Short Sale closing with Chase Bank. 

 The property:

Investment Property. 2 bedroom 2 bath Mezzano condo located West Palm Beach Florida. This condo has 1,141 sq ft of living area and was built in 2004. It was purchased in  August 2005 for $256,000. It Sold 1/11/2013 for $90,000. That's a decline in value of 65% in 8 years. 

  Liens:

  • 1st Mortgage with Chase for $178,000
  •  2nd Mortgage with Chase for $8,000

   Hardship:

  •  Loss of income. Divorce.

 Summary:

The property was placed the property on the market May 2012 for $75,000. Two days later we negotiated a deal at $90,000.The short sale was submitted and was denied due to the borrowers being current on payments.

At this point the borrowers decided to stop making the payments. 60 days later we resubmitted and the short sale was approved with a $3,000 cash contribution form the borrowers.

The transaction on 11 January 2013.  228 days from listing to closing!!

Chase accepted $78,900 or .44 cents on the dollar for the 1st mortgage. 

Bank of America accepted $6,000 or .75 cents on the dollar for the 2nd mortgage.

   ***The Seller received FULL WAIVER OF DEFICIENCY with a $3,000 cash contribution from the seller .

This West Palm Beach Florida Short Sale was listed by Michelle Gibson of the Hansen Real Estate Group. The Short Sale was negotiated by Bryant Tutas of Tutas Towne Realty, Inc

Do you need help with your Florida Short Sale?

 Seller Testimonials

   Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.

 

 

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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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Rainmaker
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Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

BB - Thanks for all of your hard work on this one!  

Jan 25, 2013 10:57 AM #1
Rainmaker
1,142,210
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

My pleasure. We get 'er done 

Jan 25, 2013 09:24 PM #2
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Rainmaker
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Bryant Tutas

Selling Florida one home at a time
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