Wells Fargo Approves Fort Walton Beach Short Sale – Swift and Strange

Wells Fargo Short sales

I just received approval for a Wells Fargo short sale in the Bayou Subdvision, Fort Walton Beach Florida.  The approval was a swift 30 days, but the journey getting there was strange.  Here is a summary

9/29 – Short Sale package faxed to Wells Fargo

10/5 – Broker Price Opinon completed

10/22Negotiator asks for $1000 cash contribution from seller.  Seller asks if buyer can pay this fee, negotiator says “YES”. Buyer agrees to reduction in buyer credit.

10/23– Revised Settlement Statement (HUD) sent to Wells Fargo increasing their net by $1000 by reducing buyer credit

10/24Negotiator says “unacceptable”, seller must pay this fee (even though she said buyer could pay this fee earlier).

Seller says he’ll pay the $1000, but asks if he will get still deficiency judgment on the remainder of the loss?  Negotiator says “YES”.  Seller was then going to cancel  the contract.  I advised seller Wells Fargo’s standard approval letter does not seek a deficiency, so let’s proceed and see what we get.

10/30– Short sale approved – no deficiency  

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: [email protected]

Fort Walton Beach FL Real Estate

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We got the result we wanted. but it sure was a strange journey!

If you are considering short sale to avoid foreclosure, consider hiring an experienced Fort Walton Beach short sale agent.

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