Tutas Towne Realty and Bryant Tutas just had another successful West Palm Beach Florida Short Sale closing with Chase Bank.
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.
- 1st Mortgage with Chase for $178,000
- 2nd Mortgage with Chase for $8,000
- Loss of income. Divorce.
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?
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 Bank Short Sale
- HomeEq Short Sale
- Fifth Third Bank Short Sale
- ING Direct 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
- Green Tree Servicing Short Sale
- Ocwen Short Sale
- Flagstar Bank Short Sale
- Freedom Short Sale
- Seterus Short Sale
Can we add you to our list of successful Short Sales?