Stunning home in Holley by the Sea – 1940 Bahama Drive, Navarre Florida. Magnificent lawn with brick landscape islands and palm trees. Huge fenced back yard with play area. Clean, neutral decor and big spaces! Large cathedralled living room with plant ledges. Kitchen sparkles and has convenient center island. Whirlpool tub with lovely tile work. Garage has been converted to part living space, seller will consider re-converting. There is an  attached greenhouse for your gardening pleasure.  Holley by the Sea is a short drive to Hurlburt Field or Eglin Air Force Base.  The beach is across the street. There is a rec center, tennis, p   , gym, lessons and more!

1940 Bahama Drive, Navarre Florida – offered at $214,000.

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Navarre Florida Real Estate

Navarre Florida Short Sales & Pre Foreclosure Help.

Read Wendy’s Navarre Real Estate Blog

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Very nice building lot at the entrance to Sea Pines on Garcon Point, Milton Florida. Public boat launch and boardwalk area located at the end of Grey Heron Dr.  Sewer is availble.  Homeowners’ amenities include beach and pavilion and gazebo.  Great for commutes to Hurlburt Field.  Short drive to the Gulf of Mexico Beaches, access to Pensacola Airport.  Lot dimensions approximately 108 x 200.

Offered at $39,900

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Navarre FL Real Estate

Navarre Short Sales & Pre Foreclosure Help.

Read Wendy’s Navarre Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

The post Lot 10A Grey Heron Dr., Sea Pines Lot, Milton Florida 32570 first appeared on Rulnick Realty.

Great Holley-by-the-Sea home in Navarre Florida needs immediate pre-foreclosure offer. Big spaces here! Split floorplan, kitchen with oversized pantry, lots of cabinet and counter space. Formal dining room. Living room with angled fireplace. Master bath with whirlpool tub. Needs deep-clean, carpet and paint to your own taste. Huge yard. Owner of the wonderful Navarre property will have access to community amenities, clubhouse!  Easy commute to Hurlburt Field AFB.  Minutes to Gulf of Mexico beaches. This is a short sale.  Offered at $159,900.

It’s Wendy!

The post 1945 Seahawk Lane, Navarre FL – Short Sale first appeared on Rulnick Realty.

8730 Rio Vista, Navarre FL Home For Sale

Located within walking distance of the beach, shopping and restaurants of Navarre this home has been well maintained. The interior has been recently painted to include new interior doors. The kitchen provides plenty of cabinets, side by side refrigerator, stainlesss steel sink and pantry. The master bedroom has a walk-in closet with storage shelves. The huge fenced back yard is great for gatherings or the addition of a pool. All information to be verified by buyer.  Short Sale.

The post 8730 Rio Vista, Navarre FL Home For Sale – Short Sale first appeared on Rulnick Realty.

1. Determine if your seller has a legitimate hardship.  Some of those are: loss of income, divorce, medical, transfer, job loss, death of breadwinner, etc.  Not “I want to move”, “I am tired of paying the mortgage” or ” The value of my house went down”.

2. Very important -ask your seller to contact his lender before you list the property.  Why? The lender may have a loan modification or forbearance plan that may help your seller solve his problem.  Additionally, the lender may have its own preferred loss mitigation package to send to your seller.  Further, a few lenders order an appraisal of the property at the beginning of the Short Sale process.  Some examples are: BB&T, First American, and Citi Residential.  The early appraisal may be helpful to you in determining a target “net”. The challenge of an early appraisal, however, is that the market is still declining in most areas and appraisals don’t stay valid for long.

3. If your seller has received foreclosure correspondence from his lender, recommend he contact an attorney.  In any event, your seller may want legal advice if he has any concerns about his rights with his mortgagees.

4. After listing the property, prepare your separate Short Sale file in advance.  This will save you time when you receive an offer, and keep you organized.  It’s best to have a separate Short Sale folder, because extraneous information, such as surveys, disclosures, etc. will not be needed to send to the lender.

What is in this file?  For each lender, such as first mortgage and junior lien, prepare a set of documents as follows:

• Hardship letter
• 1-2 years tax returns
• Financial Worksheet
• Listing Agreement
• Payoff of other lien if more than one (order immediately after listing)
• Letter of Authorization (send to lender immediately after listing)

Use pre-printed labels for every page with appropriate loan number and description of what each page is, e.g. Hardship Letter 877600984

Remember when you actually have a contract you will need to supplement each package with your seller’s most recent proof of income and bank statements.

There are many factors that contribute to a successful Short Sale.  Preparation and organization are two of them.

The post Short Sale Listings: Tips & Tricks first appeared on Rulnick Realty.

“As Is” Means “As Is”

I’ve been working a Countrywide short sale (one of many) in Navarre FL, and finally got approval yesterday.  The Countrywide demand letter stipulated closing within 30 days.  After weeks of the buyers’ agent asking for final approval, I am now told the buyers may not be able to close on time.  They want seven more days.  I got their extension approved by Countrywide, with a per diem penalty included.  Now the agent tells me the buyers are not sure they can do the VA-required repairs, and won’t order the survey and termite until they know what the repairs are.  I asked the agent, as she was told from the beginning of the deal, “The buyer understands that the seller will not do any repairs and the buyers will have to do them and the buyers have the means to do them, correct?”  This was reiterated and even stated in the MLS.  Needless to say, I’ve placed the property back on the market, pending resolution.  Next goal: Find a way to hand-pick the selling agent!

UPDATE:  Buyers are walking.  Although all terms in their offer were agreed to by Countrywide, and the contract was in full force, after two months of negotiations, they have simply changed their minds.  I told their agent it might be a problem getting back their earnest money deposit. (Buying a house is not like buying a big-screen t.v.)

FURTHER UPDATE:  The buyers changed their minds again.  They are buying the house.  Happy ending.

ACTION ITEM:  This office is requiring signed acknowledgments by buyer and selling agent regarding short sale steps and time frames on all short sale transactions.

The post "As Is" Means "As Is" first appeared on Rulnick Realty.

I called AIG and they were right on top of it.  They said the loan was bought on NOVEMBER 5- a few weeks after the short sale offer was submitted!  The AIG rep did not seem pleased there had been a short sale in the works.  He said they should have been told when they bought the loan, and that “Countrywide dropped the ball”.  I wonder if they told him the property also had a foreclosure sale date set at the time?

I have two big problems with this.  One, is that Countrywide did not disclose pertinent and known information to me.  I worked over two months on their good word for approval, when they tell me it will all be moot depending on what AIG says.  Why didn’t they tell me this on November 5?  Second, they did not disclose to the PMI company about the status of the loan.  I have spoken to a local attorney who said there seem to be RESPA violations going on. He said there is a Florida doctrine “Holder in due course” which requires notification to a loan purchaser about anything affecting the loan prior to sale.  He said when that is the case, the second mortgage purchaser has legal defenses which allow them to hold the loan free and clear of all defenses a borrower may have against the original note holder.  He and my seller will go forward pursuing this if I run into a stone wall with these new negotiations.  I asked the Countrywide loss mitigation department if I could switch negotiators, as it is quite apparent I have been misled.  They said no.

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