Tutas Towne Realty and Bryant Tutas just had another successful Kissimmee Florida Short Sale closing with Bank of America.
Investment Property. 2 bedroom 2 bath condo located in Legacy Dunes in Kissimmee Florida. This home has 1,110 sq ft of living area and was built in 2000. It was purchased in 2006 for $315,000. It Sold 8/30/2012 for $63,000. That's a decline in value of 80% in 6 years.
- 1st Mortgage with Bank of America for $227,000
- HOA lien for $16,500
- Loss of income. Loss of renters.
Tutas Towne Realty placed the property on the market December 2011 for $59,000. 24 days later we negotiated a deal at $59,000.
It was a huge challenge to get the HOA lien paid. When we started the short sale the lien was for $10,000. I used a figure of $12,500 on the prelim HUD knowing the fees were still accruing. Afer 7 months of back and forth I was able to get BofA to agree to pay $11,250 in fees. We ordered a new estoppel only to find that the HOA had passed a new rule increasing the interest and late fees on past due accounts. The amount due shot up to $16,500!! And Bank of America came back and countered at $63,000.
The buyer agreed to the price increase and agreed to pay $2,000 towards the HOA. The HOA came done $1,600 and the Seller agreed to bring $2,000 to closing.
Tutas Towne Realty closed the transaction on 30 August 2012. 257 days from listing to closing!!
Bank of America accepted $46,900 or .21 cents on the dollar for the 1st mortgage.
***The Seller received FULL WAIVER OF DEFICIENCY.
What the Seller said:
I am writing to say THANK YOU so much for guiding me and helping me with this long and tough short sale. You were so amazing every step of the way and you never made me feel this task was impossible or difficult. You were highly recommended by Jayne Sanders and you have deliver even more. I am amazed with how professional you were on handling the negotiations with the bank. I recognized you for your hard work and you are going to be highly recommended. Because of your kindness and generosity, I survived avoiding being foreclosed. I am immensely grateful and I respect and appreciate you.
What the other Agent said:
Bryant, You are truly a short sale superstar !!
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 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
Can we add you to our list of successful Short Sales?
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, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
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