Short Sale approval with GMAC and Bank of America in 53 days.
Location: Vista Lakes Village Orlando Fl
- Listed with Tutas Towne Realty on May 18th at $275,000.
Liens:
- 1st Mortgage with GMAC with a balance of $420,000
- 2nd Mortgage with Bank of America at $63,000
Terms:
- Purchase price of $200,000
- Bank of America agreed to accept $5,000 (8% of the balance owed).
- GMAC agreed to accept $179,500 (43% of the balance owed).
- The Seller is not bringing funds to closing and is not signing a promissory note.
- The real estate commission is 6%.
Challenges:
- Rental property
And there you have it. Another successful Short Sale approval from Tutas Towne Realty.
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? www.CentralFloridaShortSales.com
Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? www.CentralFloridaShortSales.com
***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.
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, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
Copyright © 2011 http://www.brokerbryant.com/ | All Rights Reserved
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Bryant,
If you are going to keep closing these thing so often my "Well Done!" is endanger of becoming tripe!
Bill
WooHoo. It's just so different there and in many other areas than here it seems. It is almost unheard of for the banks to take less than 70% of what is owed around here, but then again I guess the values have not dropped off that greatly either. Wow. Great Job! ~Rita
Good deal BB. Sounds like a real win-win for the seller. Congrats on another successful short sale.
Wow! Those banks are taking a beating. With losses like that, I don't know how they can stay in business.
Congrats Dad. Maybe one of these days I'll get something closed too. LOL
Great testimonial - great results. Great blog to share with clients and potential clients.
Each time I read one of these on your blog I say that I better get to it and start doing our shout outs! SO much to write about! Congrats on another successful closing!
Congratulations BB! That sounds like a tough one. I hope B of A will start eventually getting their act together so we can keep the same buyers from beginning to the end of the approval process! It's hard to keep them patiently waiting for months on end for that final okay to go ahead with escrow.
That's a very nice one. Congrats on all of your recent approvals!
BB - Congratulations on another successful short sale closings. I always tell my buyers and sellers that they do close, just be patient and let us do our work.
What a beautiful house! And good job on the video. Did you make it yourself? I love making my own video tours =)
Congrats on the approval Bryant. Just amazing prices. And the buyers still want more!
Congratulations! Best wishes on your continued success!!
That is so good. I can't believe these banks are taking these small amounts. Hard work pays off!