Tutas Towne Realty and Bryant Tutas just had another successful Wellington Florida Short Sale closing with Wells Fargo and LCS.
Investment Property. 4 bedroom 3 bath single family home located in Wellington Florida. This home has 2,986 sq ft of living area and was built in 2007. It was purchased new in 2007 for $522,000. It Sold 04/4/2013 for $305,000. That's a decline in value of 42% in 6 years.
- 1st Mortgage with Wells Fargo for $427,500
- 2nd Mortgage with LCS for $76,500
The property was placed on the market 13 August 2012 for $300,000. Ten days later we negotiated a cash deal at $285,000. The short sale was submitted. The investor, Fannie Mae, countered at $346,000. We disputed the value and they would not budge. The property was placed back on the market at $346,000.
After several months and price reductions we found another cash buyer at $300,000. This was submitted to the lender and Fannie Mae countered again at.......$379,500!!!
The buyer increased thier offer to $305,000 and I submitted a value dispute directly to Fannie Mae through their Short Sale escalation tool. After a few days Fannie Mae agreed with our value of $305,000 and the short sale was apporved.
The transaction closed on 4 April 2013. Only 234 days from listing to closing!!
Chase accepted $275,500 or .54 cents on the dollar for the 1st mortgage.
LCS accepted $6,000 or .08 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
Do you need help with your Wellington 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
- LCS Short Sale
Can we add you to our list of successful Short Sales?