Avoid foreclosure. Another successful Short Sale Closing with Fifth Third Bank.
Mortgage amount: $185,000.00
Sales price: $87,500.00
Lender agreed to 3% in closing costs and a 6% commission.
Net to Lender: $77,078.00 (42% of amount owed)
Fannie Mae was the Investor and there was Mortgage Insurance (MI).
Challenges:
- The Mortgage Insurance company started out wanting $60,000 in any combination of cash and/or promissory note. We negotiated for 2 weeks. The Seller ended up bringing $1,000 to closing. No note.
- The first Buyer walked after keeping the property off the market for 60 days. The 2nd Buyer closed 38 days after going under contract.
Total time from placing the property on the market until closing: 205 days.
Seller testimonial:
Dear Bryant
"I want to personally thank you for your exemplary handling of our recent real estate transaction. From day one you were a professional; courteously and patiently guiding me through the entire process. Your response time was unparalleled; you responded to my emails and phone calls within minutes, as if I were your only client!
And I believe that’s what every seller (and buyer) wants – to get the idea, or enjoy the feeling, that Bryant Tutas is their exclusive agent! I tried quite a few real estate agents before I finally came to you, and you jumped into action from day one! My property had been on the market for more than a year; within days of contacting you I had my first real offer, and very soon the house was in contract. We just closed a few days ago, and I am so grateful for all your help. Thank you Bryant, for everything!" MARK
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? www.CentralFloridaShortSales.com
Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com
http://ShortSaleSuperStars.com
Are you a Florida REALTOR(R) looking for a change? Check it out.
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Hi Bryant......Well Done for Hanging in there. I hate to tell you what a home like this would Sell for in Victoria BC...$550,000 or more.
Maybe send some of your short sale listings for me to post on my Victoria web sites, for Buyers from here :O)
Cheers
Your client's letter says it all BB, just call you if you need to do a short sale and want to get the job done and done right!
Excellent work, BB. I bet you love getting letters like that from your clients!
BB,
"We negotiated for 2 weeks. The Seller ended up bringing $1,000 to closing. No note."
You know there are allot of supposedly bright people that say this can't be done! There are two families that can be glad you don't take advice from fools! I like stubborn agents with tenacity!
Well done!
Bill
BB - congratulations. So wonderful to hear another success story from Florida's short sale world. Your seller must be pleased (and the buyer, AND the bank).
Jeff
Bryant- It is amazing what the second buyer is in for a treat for, a short closing! One buyers loss is another buyers' gain:) Love these proof is in the pudding stories. I am behind in getting ours up on our website and blog. Shame on me. You and Wendy's blogs just lit a fire under my butt to get our testimonials up on our blog. Congrats and great job!
Nice job Bryant! I like the recap, sharing these stores helps everyone gain confidence in the process.
Nice job Bryant, Wonderful to see and hear about a short sale that was successfully closed with clients happy and satisfied.
42% WOW! I didn't know that was possible man.
I'm with Colleen. I really like what you are doing with your summaries. These rock. And yes 42% around here is practically unheard of. You may get 60-65% and that is typically a house with lots of fixing up. Rita
Wow. Negotiating for 2 weeks on behalf of your client really paid off! That is quite a turnaround for the PMI company to come down from what they were originally asking for. Congrats!
Congrats Bryant. Great job on another short sale. Another happy new home owner and a rescue of a troubled owner.
Glad to hear you're doing well with your short sales. I hope you can help a lot of people avoid foreclosure.