Villa Lago Lot 127 Baytowne Loop, Sandestin Florida has been approved for short sale by Bank of America. This was a lengthy approval time frame, but we got it done!
Here are the details:
Original purchase price: $300,000 appr
List price: $65,000 appr
Mortgage holder: Bank of America
Seller Contribution: $8000 appr
Waiver of Deficiency: yes
This one of my longer recent Bank of America short sales. They clocked in at almost six months from contract to approval. I had to escalate the file a few times via Bank of America’s Twitter Team. It did receive attention, as a Vice President called me to follow up. The Bank of America negotiator worked hard to reduce the seller’s cash contribution to get him a waiver of deficiency. This was negotiated down from over $20,000 to about $8,000. The Sandestin homeowners association and Villa Lago homeowners association also reduced their balances to make this sale happen, but Bank of America paid over $10,000 in dues to complete the transaction. The buyer contributed a little toward the HOA balances, as well. In the end, the seller was delighted. This Villa Lago property on Baytowne Loop should close in a few weeks.
If you are thinking of selling your Sandestin Florida property as a short sale or a traditional sale, contact Wendy Rulnick at 850-650-7883. I can help you navigate this interesting market.
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: [email protected]
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Wendy Rulnick, Broker, is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. She has successfully helped hundreds of families avoid foreclosure through short sale along the Emerald Coast of Florida. Wendy Rulnick is knowledgeable in all aspects of short sale, including VA Compromise Sale, FHA HUD pre-foreclosure sale, HAP military PCS, HAFA, Bank of America Coop program and more. She is also co-founder of www.ShortSaleSuperstars.com and short sale instructor to agents across the United States. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Panama City Beach, Eglin AFB, Hurlburt Field.