Destin to 30A Short Sale Agent - Corona Virus - Will You Qualify ?

Real Estate Broker/Owner with Mainsail Realty Company BK671253

Do I Qualify for a Destin to 30A Short Sale because of the Corona Virus?  

The key to a successful short sale is a Financial Hardship.  The Corona Virus is devistating to our economy and I feel that it will create a legitimate financial hardship for many.  If our real estate market continues to decline after the Corona Virus crisis, a short sale might be your best option.

What is a Short Sale? 

A short sale takes place when the sales price of the property does not support the loan against the property.  The owner must show the lender that there is a financial hardship and negotiate a settlement or a full forgiveness of debt.  The short sale can help to prevent a foreclosure or a bankruptcy.  A short sale will most likely have a negative impact on your credit, but the impact is not as severe as a foreclosure or bankruptcy because you are working it out with the lender and it just looks better on paper for future banking relationships.


Two Types of Short Sales

Hardship Short Sale - The borrower has a true financial hardship like a job loss, change in income, death of spouse, or medical issue.  This is always the easiest scenario to work out.  Please understand, some banks are negotiable and some are more difficult to deal with;  each situation can be different.  During the last Real Estate downturn, if we could show a true financial hardship, we could succefully complete a short sale in most cases.

No Hardship Short Sale - The owner does not have a financial hardship and in many cases has hefty cash reserves.  These are harder to complete, but I have successfully completed no hardship short sales;  in many cases, the lender will require cash contribution or promisory note.  We had one seller negotiate over 300K in deficiency for around 20K, and he was very happy with the outcome.

When the Corona Virus dust settles, If you find yourself upside down on a property, Please reach out to me directly at 850-585-1284 or  I will be happy to answer any questions you have.  If you feel like you are in trouble, I may be able to help you.  I have completed multiple successful short sales and I sincerely enjoy helping people.

When I shifted from a Real Estate Agent to Real Estate Broker/Owner in 2007, the Destin to 30A Real Estate market was in bad shape.   I helped many buyers acquire properties at 20 to 30 cents on the dollar.   We focused on REO "Bank Owned" properties and Short Sales.  I became very busy while others were changing careers.  I completed every short sale and REO designation that I could and went to many seminars.

I began to help a few friends and acquaintances complete short sale transactions on the seller's side.  We had great success and a very good system.  I started blogging about short sale success stories, and I began to help more people from all over the county complete short sales on the Emerald Coast.  You have to be very thorough with your short sale package, prove a hardship (if you can), and negotiate.  I was very nice to the banks and gave them everyhting they required and I gave it to them fast.  I found that being nice was a major key to my success.

A few years later, the market shifted and I started helping buyers and sellers of luxury properties from Destin to 30A.  I have actually closed over 400 Real Estate transactions in all price ranges.  Now it is March 29, 2020 and I had a buyer email me looking to buy short sales in our area.  This must be sign so, Ok, I guess its time to start blogging and helping those in need.  If you are a buyer, I can help as well.  I have completed multiple short sales and foreclosure transactions in all capacities.  I have listed foreclosure properties for banks, helped sellers complete short sales and I have helped many buyers find great deals.  

Below is link to our Short Sale and Foreclosure search page for Buyers.  This report is up to date and shows all REO and Short Sale listings.

Destin to 30A Foreclosure Search 

Check out this link for more details on Short Sale Help.



Below is a testimonial from one of my past short sale customers.

When we contacted you, we were not very familiar with the short sale process and were uncertain if a short sale was even possible for us.  You explained the process to us in detail, clearly outlining our options, risks and potential benefits.  We particularly appreciate your patience, honesty and willingness to spend time helping us through that education process, never pressuring us in the least.
Once we made the decision to list our property with Mainsail, you continued to guide us through the process step by step.  The service we received from you and your team at Mainsail could not have been better.  It was prompt, professional and extremely well informed.  Your systems allowed us to easily process everything remotely.
You always remained positive, even during those unexpected set backs.  I'm still amazed that you got that late stage surprise issue resolved in time to hit our closing date.  Your persistent yet delicate interactions with the lender may very well have been the key to our success.
I don't know if you ever get requests for references, but if so please consider having them contact me.  We feel so fortunate to have found you and your team at Mainsail to help us sale our property. 
Please share our testimonial with anyone looking for real estate services...we certainly are!
Thanks again!”
Steven and Angie Caldwell

Clayton Bonjean 
Broker | Owner  | MBA

Over 400 Properties Sold!

Comments (0)