Wellington Florida Short Sale Success With Chase And Bank Of America

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

wellington florida short sale


Tutas Towne Realty and Bryant Tutas  just had another successful Wellington Florida Short Sale closing with Bank of America. 

 The property:

Primary Residence. 3 bedroom 2 bath single family home located in Wellington Florida. This home has 1,569 sq ft of living area and was built in 1977. It was purchased in 2005 for $350,000. It Sold 10/16/2012 for $175,000. That's a decline in value of 50% in 7 years. 

  Liens:

  • 1st Mortgage with Chase for $357,000
  •  2nd Mortgage with Bank of America for $50,000

   Hardship:

  •  Loss of income.

 Summary:

The property was placed on the market April 2012 for $160,000. Two days later we negotiated a deal at $150,000. The short sale was denied over price.

The property was placed back on the market and we found a buyer at $175,000

The transaction closedon 16 October 2012.  189 days from listing to closing!!

Chase accepted $156,850 or .44 cents on the dollar for the 1st mortgage. 

Bank of America accepted $3,000 or .06 cents on the dollar for the 2nd mortgage.

   ***The Seller received FULL WAIVER OF DEFICIENCY for both loans.


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

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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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Florida Palm Beach County Wellington
Tags:
bank of america
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Show All Comments
Rainer
295,383
Paddy Deighan JD PhD
TimeshareLawyers.pro - Vail, CO
Paddy Deighan J.D. Ph.D

just goes to show that diligence pays...I am not surpirsed that the first offer was reject since DOM was very low at that point

Jan 24, 2013 11:12 PM #1
Ambassador
3,349,239
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

WOW!  The Dynamo Duo does it again!  Kudos to you both...AND the sellers, for such a quick Close on this Wellington Short Sale, Bryant!  Great job!

Jan 25, 2013 02:06 AM #2
Rainmaker
920,697
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Amazing accomplishment of getting it done so quickly. I'm sure the sellers were shocked, and excited.

Jan 25, 2013 02:17 AM #3
Rainmaker
596,598
Nancy Laswick
United Real Estate - Phoenix, AZ
Your REALTOR® For The Valley Of The Sun

Congratulations Broker Bryant... another one in the win column! And a full waiver of the seller they must be very happy with the result.

Jan 25, 2013 06:54 AM #4
Rainmaker
1,333,948
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Thanks Debe! BB is an AWESOME partner to work with and he always gets the job done!

Jan 25, 2013 10:58 AM #5
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

Thaqnks guys.

Michelle and I do make a great team!

Jan 25, 2013 09:21 PM #6
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Rainmaker
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Bryant Tutas

Selling Florida one home at a time
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