Selling Poinciana One Property at a Time.

This Week's Discussions

Commission Dispute Question: I submitted an offer on a short sale which took 2 months for approval and were schedule to close, however, a day before closing t… Started by Tavo	9	42 seconds ago Reply by Bryant Tutas
Seller taking an offer before it hits MLS We are seeing a lot of agents pre selling their own own listings that are short sales before putting them on MLS. I know we have a fiduciar… Started by Stephen	64	1 minute ago Reply by Bryant Tutas
LCS and Buying Its Debt I have a client who wants me to take over a short sale that failed. She was offered $25,000 from Chase Bank. LCS is the second. LCS blocked… Started by ElizabethWeintraub00697006LyonRE	9	1 hour ago Reply by Bryant Tutas
Approval of a Trust Has anyone had a short sale approved for a property that was owned by a trust? If so, what documents did the lender require? Started by David Zagorsky	1	1 hour ago Reply by Bryant Tutas
I have personally bonused being part of the Advanced Traing Group! What is keeping you from joining? Just having help closing a deal made it worth it taking the worry and pain out of the paperwork, especially HUD-1 issues. Bryant and Wendy… Started by Teresa Simon	1	1 hour ago Reply by Bryant Tutas
HAFA vs. non HAFA What's the difference between a "HAFA approved" and a conventional short sale? Started by Eddie Kearns	3	18 hours ago Reply by Smitty
Looking for a good basic short sale program for organizing files w/o the hype & program salesmanship. We, an attorney paralegal and myself sat and watched as much of a webinar as we could bare today.  With the reinvention of the mls, picture… Started by Teresa Simon	7	19 hours ago Reply by Joseph Alfe
How to get the smaller deals closed Looking for tips on getting higher commissions paid.  On lower priced listings ($65k & below).  The lenders will not pay more then 6% o… Started by Jeanine Whitehead	4	19 hours ago Reply by Joseph Alfe
Help - Freddie Mac HAFA demands from seller Has anyone had this happen? The seller is being asked to pay them over $2,000 per month while we try to short sale the home and if we are n… Started by Kathy Marlowe	5	yesterday Reply by Bryant Tutas
Innacurate BPOs, Why? I may have just figured out why there are so many inaccurate BPOS. Check out this email that I just got from someone who will do my BPOs fo… Started by Jeff Payne	22	yesterday Reply by Jim Schneider

Need Training?

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Join the Advanced Training Group

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Group members have access to:

• ALL training webinars.

• Currently 10 Webinars with 4 more scheduled (Click to View)

• Short Sale Listing Package
• Expired Listing Letter
• Lis Pendens Letter
• FSBO Letter
• Sample HUDs
• Sample BPO Disputes
• Private Member Forum
• Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

Visit Short Sale Superstars at: http://shortsalesuperstars.com/?xg_source=msg_mes_network

This Week's Discussions

Short Sale Approvals with Seller isn't Delinquent Howdy Folks -   Just curious if anyone is seeing short sale approvals when the seller isn't delinquent.  We just did one, but the seller wa… Started by Christopher Pendleton	16	1 minute ago Reply by Bryant Tutas
Short sale lender wants agents to pay for an appraisal. This short sale lender requiring an appraisal rather than a BPO, the kicker...they will not pay for it and will not approve the short sale… Started by Bev Dudley	9	2 minutes ago Reply by Bryant Tutas
Chase cut my commission, but will give seller $30,000! I'm the broker/owner of a small firm.  My wife and I are attempting to purchase a $300k Chase short sale for our primary residence.  We got… Started by Billy	73	4 minutes ago Reply by Bryant Tutas
Interesting news from the California Association or Realtors regarding licensing and short sale processing http://www.car.org/legal/foreclosure-short-sale-folder/short-sale-negotiators/ Below is the  part of the article, use link above to read fu… Started by Jeff Payne	3	5 minutes ago Reply by Bryant Tutas
3rd party SS Processors I recently changed to a new Broker. Company claims, that if you use a certain Escrow Co., that they negotiate your SS for free. Bank get ch… Started by Rochelle Castro	23	6 minutes ago Reply by Bryant Tutas
Using Bankruptcy to avoid foreclosure I have had to sellers that I have been going back and forth about short sales finally decide to go into bankruptcy.  There is a couple of p… Started by Kevin Vitali	60	6 hours ago Reply by Ryan Simpson
I Need HELP with a BPO from ING I have a home listed in Scottsdale AZ for 305k. A month or so after listing it we received an offer for 295K. This home is in an ok area, b… Started by Scott Douville	6	7 hours ago Reply by Ryan Simpson
Have you had BOA close files in Equator with no explanation? Hi all,   I'm new to the site.  I'm a California attorney and real estate broker specializing in short sales.  For a bit over 4 years we ha… Started by Spencer Lugash	8	7 hours ago Reply by Eric Mieles
Co-Op Short Sale Assignments Has anyone gotten an e-mail from this company DTS or Dignified Transfer Solutions who is teamed up with Bank of America to assign contacts… Started by Thomas Zdanowicz	27	8 hours ago Reply by DESIREE A BURGOS
I knew when I took the listing that I was going to be sorry. We wrapped up a short sale last week, closed on Tuesday, funded on Weds, in which the first mortgage holder was paid in full, a second and… Started by Jill Ford	2	11 hours ago Reply by Becky Martin

Need Training?

Visit the

OR

Join the Advanced Training Group

(***You must be logged into the site to join the group)

Group members have access to:

• ALL training webinars.

• Currently 10 Webinars with 4 more scheduled (Click to View)

• Short Sale Listing Package
• Expired Listing Letter
• Lis Pendens Letter
• FSBO Letter
• Sample HUDs
• Sample BPO Disputes
• Private Member Forum
• Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

Visit Short Sale Superstars at: http://shortsalesuperstars.com/?xg_source=msg_mes_network

This Week's Discussions

How to stop short sale lenders from automatically cutting our commission Nearly 9 out of 10 of my short sales, the lender cuts the commission from 6% to 5%. I am sick of this. They know they have us by the short… Started by Julie Wilkinson	17	13 seconds ago Reply by Bryant Tutas
How much time does it take to complete a short sale? Curious how much time you spend working a short sale once you get an accepted offer? How much time: To gather initial documents from seller… Started by Jeff Payne	7	46 seconds ago Reply by Bryant Tutas
Track it! TRACK TRACK! I can't remember what I ate for breakfast most days, but I can remember every conversation I've had on any file I'm negotiating.  I also TR… Started by Smitty	3	1 minute ago Reply by Bryant Tutas
How does Credit Report Look after a Short Sale? I had a client ask me how his credit report would differ if the bank accepted a short sale as payment in full or if they went after a defic… Started by James Lockard	8	2 minutes ago Reply by Bryant Tutas
PMI suing the banks? I had a call today from a past short sale client who said a PMI company wants to meet with them and hear their story of the 3 times they tr… Started by Karyl Moore	4	3 minutes ago Reply by Bryant Tutas
What's the real benefit of short sale versus foreclosure? Like all of you, I'm a big proponent of short sale over foreclosure, not merely for my livelihood (but that counts) but also because I thin… Started by Tamara Dorris	16	4 minutes ago Reply by Bryant Tutas
A Step in the Wrong Direction So slightly off short sale topic but important to all of us. I had a confrontation yesterday with a mortgage broker who I have worked with… Started by Eric Mieles	6	15 hours ago Reply by Eric Mieles
1st & 2nd TD with Wells via Equator Now that Wells Fargo is using Equator, if I am doing a SS with both a 1st & 2nd at Wells, do I need to initiate SS in equator on 2nd TD… Started by Chad Dannecker	1	18 hours ago Reply by Bryant Tutas
Have you used CAR's Short Sale Assistance Desk w/Fannie Mae loans? I was just poking around on the California National Association of Realtors (CAR) website and I saw the Short Sale Assistance Desk (SSAD) i… Started by Shari P	2	21 hours ago Reply by Jeff Payne
Freddie Mac Addendum and "rentback"? Hello, I am a first-time home buyer in the process of some back & forth after putting an offer on a short sale.  The latest thing to com… Started by Erin	6	21 hours ago Reply by Jeff Payne

Need Training?

Visit the

OR

Join the Advanced Training Group

(***You must be logged into the site to join the group)

Group members have access to:

• ALL training webinars.

• Currently 10 Webinars with 4 more scheduled (Click to View)

• Short Sale Listing Package
• Expired Listing Letter
• Lis Pendens Letter
• FSBO Letter
• Sample HUDs
• Sample BPO Disputes
• Private Member Forum
• Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

Visit Short Sale Superstars at: http://shortsalesuperstars.com/?xg_source=msg_mes_network

Hey...I didn’t write it. I’m just sharing it as I received it.

Buyer testimonial received 1-18-2012

As a first time home buyer I did the one thing everyone tells you not to do – I fell head over heels in love – with a house.  This house had me written all over it – everything I wanted in a house, from location to size and everything in between was me.  But it had one major problem… it was in foreclosure for two years and at the point I found Bryant it had been taken off the market completely.  Everyone told me I had no chance.

I found Broker Bryant by googling “find me the best agent in Florida that handles short sales” and Bryant Tutas was first on the list.  From our first conversation I could tell he has what it takes – he is extremely professional, knows the foreclosure process inside and out, and just as importantly, he knows how to work with people in a way that makes them enjoy what they are doing.  He’s approachable, understanding, knows how to make their job easier – and he’s a joy to work with.  Most importantly to me – he got me my house!  In 31 days!!!

I could not believe it.  Bryant has a true gift of understanding his profession, knowing how to work with people, knowing when to push a little and when to back off a little.  He gets it done!!!  And he made the entire process a joy for me.

He’s funny and he’s brilliant and I am so grateful that I found him… I would highly recommend him to anyone that is looking to purchase a home.

Stephanie Whittemore

A very happy home owner in Dunedin, FL

Are you facing foreclosure in Florida?

This week's discussions

Just an observation from what actual short sale sellers and buyers are asking on Short Sale Superstars I LOVE that we get actual consumers coming to this site to ask questions. We get a lot of buyers and sellers alike who are trying to navigat… Started by Jeff Payne	8	1 minute ago Reply by Bryant Tutas
How many short sales are you closing a month? I was just wondering for all the heavy hitters out there. I am trying to gauge myself on how many short sales I should be closing monthly.… Started by Darren Bell	3	1 minute ago Reply by Bryant Tutas
Help!!! 1st and 2nd won't let 3rd get any $ I have a 1st with GMAC, 2nd with BofA and 3rd with MCT Group a collection company for USE Credit union. The 1st and 2nd have agreed to the… Started by Mike Giancanelli	7	3 minutes ago Reply by Bryant Tutas
Why do we interview agents and/or the sellers negotiator before showing a property? We have a laundry list of questions that we ask a listing agent and/or the sellers short sale processor before we show a property.  There a… Started by Jeff Payne	10	3 minutes ago Reply by Bryant Tutas
BOA/Equator Counter Offer too High short sale I received a counter offer from BOA/Equator system about 25% more than offer price. The home is not in good condition and needs a lot of fi… Started by tejas	26	5 minutes ago Reply by Bryant Tutas
Who Creates The HUD? I'm representing the buyer of a short sale in California; Seller's agent is in my brokerage, and has "hired" a 3d party negotiator. BofA ha… Started by Katherine Muhs	12	16 hours ago Reply by Kevin - Greenville, SC
Mortgage Debt Relief Act Hope everyone had a productive week so far. I didnt see anyone start a thread and ask so I was curious what everyones thoughts were on the… Started by Eric Mieles	3	16 hours ago Reply by Wendy Rulnick
HAFA INCENTIVE - Can Borrower/seller Elect Not To Receive The $3,000 Incentive? Does anyone know if the Borrower/Seller can elect not to receive the $3,000 incentive to contribute either to buyer closing costs or just t… Started by Brenda Rogers	19	yesterday Reply by Kevin - Greenville, SC
Anyone closed with HSBC on 1st Lien?? I am looking to review the Arm's Length Affadavit from HSBC.  It is impossible to get through to them to obtain one -- anyone closed with t… Started by RoJane Maybee	10	yesterday Reply by Jessica Eisenhauer
Estate Short Sell Reverse Mortgage or Walk? I was contacted by the heir about listing a property. We quickly discovered that the deceased had a Reverse Mortgage and that the estate wo… Started by Kathleen Sheridan	5	yesterday Reply by Kevin - Greenville, SC

Need Training?

Visit the

OR

Join the Advanced Training Group

Group members have access to:

ALL training webinars.

1. 1. Currently 10 Webinars with 4 more scheduled (Click to View)
2. Short Sale Listing Package
3. Expired Listing Letter
4. Lis Pendens Letter
5. FSBO Letter
6. Sample HUDs
7. Sample BPO Disputes
   
8. Private Member Forum
9. Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

Visit Short Sale Superstars at: http://shortsalesuperstars.com/?xg_source=msg_mes_network

Tutas Towne Realty and Bryant Tutas just had another successful Kissimmee/Poinciana Florida Short Sale closing with Fifth Third Bank.

The property:

Investment property. 4 bedroom 2 bath townhouse located in Kissimmee Poinciana Florida. This home has 2,234 sq ft of living area. It was purchased new in May of 2005 for $234,000. It Sold 12/28/2011 for $72,200. That's a decline in value of 70% in 6.5 years! 

Liens:

• 1st Mortgage with Fifth Third Bank for $230,000

Hardship:

• Loss of rental income. Reduction in value.

Summary:

I placed the property on the market 29 April for $75,000. Negotiated a cash deal at $72,200 on 19 May. It took until 18 December to get the approval from Fifth Third. Most of this time was negotiating promissory notes that were required form Fifth Third and the Mortgage Insurance Company. After almost 3 months of trying to make these go away the seller agreed to pay Fifth Third $15,000 over 15 years and the MI Company $23,000 over 15 years. After finally receiving the written approval on the 18th of December the buyer decided to walk!!!

Even though the Buyer and his agent had been updated weekly for 7 months he still walked. Anyway I placed it back on the market as an "approved" short sale and we found a Buyer the same day for $72,200. We scheduled the closing for 2 days later and this Buyer made it to the closing table before getting cold feet and walking.

So...I placed it back on the market and found another cash buyer on 22 December. We closed and funded on 28 December.

Tutas Towne Realty placed the property on the market 20 April 2011.  The transaction closed on 28 December 2011. 243 days from listing to closing!!

Fifth Third Bank accepted $65,500 or .28 cents on the dollar for the 1st mortgage. 

***The Seller received FULL WAIVER OF DEFICIENCY on an investment property. He did have to participate in the loss by signing two promissory notes.

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 Short Sale
• HomeEq Short Sale
• Fifth Third Bank Short Sale
• ING Direct Short Sale
• GreenTree 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

Can we add you to our list of successful Short Sales?

Are you facing foreclosure in Florida?

Recently, I was sitting on my adjustable, vibrating, craftmatic, tempurpedic bed enjoying my morning coffee and "working" on ActiveRain, when my phone rang. I answer...."Good morning Tutas Towne Realty, this is Broker Bryant your local area Real Estate expert, how can I help you on this beautiful sunny Florida morning?" Well, maybe I didn't say EXACTLY that, but it was close.

Anyway, a very pleasant lady on the other end starts asking me about one of my listings. She said she was a Buyer, so I answered her questions about my listing and then asked her if she was working with a Realtor. "Yes, I am, and I'm just helping her out today" Then she started asking me about a few ofmy other listings and wanted to know if they were vacant or Seller occupied. I politely told her... “I can’t give you this info but  please have your agent give me a call.”

Well, I guess she didn't hear me because then she asked me if the properties were on electronic lox boxes or did she need a code. She wanted to look at them between 12:00 and 1:00. I asked her again if she was an agent because I thought maybe I had misunderstood her. After all, she was very good at asking for showing instructions.... polite, informed, clear speaking and very precise with her questions and her showing times. But nope, she confirmed again she was a Buyer and was just helping her agent out. I eventually managed to get it through to her that I could not give her this information and that she really needed to have her agent give me call. She finally understood and hung up. I never did get a call from her agent.

So what do you think? Overzealous buyer?Redfin? ZipRealty? Is this the way of the future? “If we are giving you back a commission rebate then you need to arrange your own property showings?”

Whatever it was, I adjusted my bed upward and cut on Regis and Kelly. I hope I didn't miss a sale!!

Are you facing foreclosure in Florida?

DiscussionsRepliesLatest Activity

BOA Alleged Equator Fraud I was recently advised that BOA recently restricted all agents of a large brokerage because one short sale file allegedly contained fraudul… Started by Stephen B. McWilliam 8 14 hours ago Reply by Bryant Tutas Short sale after Chapter 7? Hi all, Homeowner went through Chapter 7 -- everything was discharged. Homeowner got a letter from Chase saying they were eligible for $20K… Started by Coleen DeGroff	2	9 hours ago Reply by Coleen DeGroff
Sellers attorney /negotiator asking large fee Hi We are buyer and received the number from our lender but the sellers attorney is asking for about 9% in fee in addition to lenders amoun… Started by James	1	12 hours ago Reply by Bryant Tutas
Robosigning is the same as electronic signatures? I think I heard the DUMBEST thing come from a bank negotiator yesterday. I submitted a listing agreement that was electronically signed wi… Started by Jeff Payne	3	20 hours ago Reply by Jeff Payne
Listing a relative's home as short sale Hello fabulous short sale superstars! I don't know if I had seen this question here before, but should you try and list a family member's h… Started by Laura Rivera	4	20 hours ago Reply by Jeff Payne
Buyer Willing to Offer the Second Cash I'm struggling a little and feel like I'm going to be on the verge of fraud if I'm not careful. I have a first and second on a short sale.… Started by Samuel Hilbert	8	yesterday Reply by Bryant Tutas
Electronic Signatures and Bank of America Just closed a Bank of America short sale. Buyer signed with Docusign and seller signed with Dotloop electronic signatures. Hopefully this… Started by Jeff Payne	8	yesterday Reply by Kevin M. Lancaster - Willson
Can you short sale while in Active Bankruptcy? Can you do a short sale with Wells Fargo while in Active bankruptcy? Started by Cherrie Brown	5	yesterday Reply by Wendy Rulnick

Need Training?

Visit the

OR

Join the Advanced Training Group

Group members have access to:

1. ALL training webinars.
   1. Currently 10 Webinars with 4 more scheduled (Click to View)
2. Short Sale Listing Package
3. Expired Listing Letter
4. Lis Pendens Letter
5. FSBO Letter
6. Sample HUDs
7. Sample BPO Disputes
   
8. Private Member Forum
9. Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.