BrokerBryant.com: Winter Haven Fl Short Sale Specialist And Fifth Third Bank Short Sale

Winter Haven Fl Short Sale Specialist And Fifth Third Bank Short Sale

 Winter haven florida short sale specialist

 

Tutas Towne Realty and Bryant Tutas  just had another successful Winter Haven Florida Short Sale closing with Fifth Third Bank.

 

 The property:

 

Investment property. 3 bedroom 2 bath single family home located in Winter Haven Florida. This home has 1,728 sq ft of living area and was built in 1999. It was purchased in 2006 for $200,000. It Sold 04/12/2013 for $112,000. That's a decline in value of 44% in 8 years. 

 

   Liens:

 

  • 1st Mortgage with Fifth Third Bank for $150,000

    Hardship:

 

  • Relocation
  • Loss of tenants

 

 Summary:

 

The property was placed on the market 16 October 2012 for $90,000.It was placed under contract 3 days later at $85,000. Fannie Mae countered at $124,900!!

So once gain we lost a buyer over Fannie MAe's inflated value. The poprerty was placed back on the market at the higher price while I simulatneously disputed the value at the Fannie Mae Homepath Short Sale Website.

After several price reductions we were able to find another cash buyer at $110,000. Fannie Mae again countered at $124,900. I continued to push the value issue and I was finally able to get the short sale approved at $112,000.

The transaction closed on 12 April 2013.  Only 178 days from listing to closing!!

 

Fifth Third Bank  accepted $103,000 or .69 cents on the dollar for the 1st mortgage. 

 

 

   ***The Seller received FULL WAIVER OF DEFICIENCY on the 1st.

 

Do you need help with your Winter Haven Florida Short Sale?

 

Seller Testimonials

 

Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.

 

 

  Can we add you to our list of successful Short Sales?

 

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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

 

 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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Comment balloon 1 commentBryant Tutas • April 30 2013 07:20AM

Comments

Those Fannie Mae valuation disputes have worked really well for me, too. FIfth Third Bank is not one that we see in California.

Posted by Melissa Zavala, Broker, Escondido Real Estate, San Diego County (Broadpoint Properties) over 5 years ago

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