Indian Lake Condo Unit 368 – Under Contract in 10 Days! Destin Florida

Indian Lake Unit 368 went under contract in just ten days! This two bedroom Destin Florida condo had several showings and was sold fast!  The unit had a long-term renter with monthly gross income of $1200. The return on investment was quite attractive to the new owner. The quarterly homeowners association dues (HOA dues, also referenced as “condo association dues”) at Indian Lake for this two bedroom 1090 square foot condo are $804. The condo lease is currently is under professional management.  Amenities at Indian Lake include an in-ground pool, clubhouse, fitness center and playground. Indian Lake was originally built as an apartment complex in 1999, then converted into condominiums a few years later. The complex has one, two and three bedroom units and there are just under 300 condos in the project.

One item of note for purchasers of an Indian Lake condo in Destin Florida is that the association is discussing an upcoming special assessment. Nothing has been finalized as of this writing, but a formal study into water intrusion behind building walls has been made by an engineering firm. If you are buying an Indian Lake unit, be sure to ask for the details and a copy of the report.

So far this year, 14 Indian Lake condos have sold at an average sale price of $124,493. There are two units under contract, and ten for sale, ranging in price from $89,900 to $154,900. The list price for this unit was $109,900 and was reduced to $99,900 for a quick sale.  The sale price will be revealed once the condo closes, in about two weeks.

4020 Dancing Cloud Court, Unit 368, Indian Lake Destin Florida

Watch the virtual tour.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: [email protected]

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Indian Lake 2 Bedroom Investment Condo – Destin Florida 32541

Newly for sale – Indian Lake Unit 368 is a striking condominium value in Destin Florida!  These Indian Lake Destin condos sell fast and are an attractive investment property. Earn rental income of $1200 per month with the long-term tenant in place in this two bedroom, two bath second floor unit!  Indian Lake is located off Commons Drive and Two Trees Road at 4020 Dancing Cloud Court.  The Destin condo complex is near Morgan Sports Center in Destin, which offers a variety of youth and adult sports opportunities, like baseball, volleyball, basketball and more. Henderson Beach State Park on the Gulf of Mexico is a five minute drive away, across from Walmart.  This lovely beach offers a boardwalk and pavilions. Indian Lake has a community swimming pool, work out facility and playground.  The unit needs paint and a little “TLC” and is sold “as is”.

What are you waiting for?

4020 Dancing Cloud Court, Unit 368, Indian Lake, Destin Florida is offered for $99,900.
Watch the virtual tour.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: [email protected]

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Indian Lake Condo, Destin FL – Sold as Bank of America Short Sale

Indian Lake short sales

This bright two bedroom, two bath Indian Lake condo in Destin Florida just sold as a short sale. The unit was fully tiled and had a vaulted ceiling in the living room. There was a tenant in place, who was retained by the new investor buyer. The Indian Lake condo association offers amenities such as a community pool, gym, clubhouse, on-site leasing office, payground and BBQ areas. This sale was a Bank of America Co-op short sale, which means it was purportedly pre-approved.  The process, however, took over 120 days, so use caution when purchasing or selling a Bank of America Co-op sale, if you think you will be able to close sooner.
4020 Indian Lake, Unit 371, Destin Florida sold for $61,801.
Indian Lakes condosIndian Lakes condosIndian Lakes short salesIndian Lakes condos for sale

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: [email protected]

Indian Lake Condo, Destin Florida – Bank of America Coop Short Sale

This Indian Lake condo in Destin Florida is a Bank of America Cooperative Short Sale. What is that? It means the list price and the seller have been pre-approved for short sale. Bank of America’s coop short sale program is an alternative to HAFA, which is the Treasury Department’s Home Affordable Foreclosure Alternatives program.

One of the key differences between HAFA and the Bank of America Coop short sale program are the qualifications. HAFA restrictions don’t normally allow investment properties to qualify for the program.  Bank of America’s Coop program does accept investment properties. Some of the other key differences are: Coop will allow loans over $729,750, loans originating after January 1, 2009, and a lower debt-mortgage payment ratio for applicants. In addition, the Coop program offers a $2500 relocation incentive to homeowners upon closing.

What are the benefits of Bank of America’s Cooperative Short Sale?  A seller may apply prior to listing his property.  If you are an agent who has listed a Bank of America short sale, you can start the qualification process by going to Equator and “initiating” a short sale.  Then Bank of America will start the review process to see if your seller qualifies. This saves time in the end, as Bank of America will offer pre-approved pricing and cut down on post-contract paperwork from the seller.

This Indian Lake condo in Destin Florida was pre-approved for Coop Short Sale prior to listing.  Bank of America’s price,$61,800, is very competitive. In fact, I’ve already received an offer on it, the first day of listing.

If you are considering short sale to avoid foreclosure in or around Destin Florida, there are many options available – HAFA, FHA, VA Compromise, Coop, HAP and more.  Contact me if I can help.

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: [email protected]

Destin Florida Short Sale – Approved in 7 Weeks

 

Indian  Lake Condo

Indian Lake Condo

This Indian Lake condo in Destin Florida has been approved for a short sale by Countrywide. It was listed by three agents before me for over two years. The stunner is – I got a good offer for my seller in less than 60 days, and got her short sale approved in only seven weeks!

Summary:

Property:  condo built 2004, 920 square feet

Mortgage:  Countrywide – about $150,000

Hardship:  Seller lost one job, had hours cut on second job, see  “Destin Short Sale Seller: I Just Want Out” 

Original List price:  $98,000 November 19

Priced Reduced: to $86,000 December 22

Contract: received fair market offer on Jan 12

 

Approved: March 3

Time from Package Fax to Approval:  7 weeks

It’s Wendy!