Another successful Short Sale approval in Central Florida!
Amount owed: $129,000
Hardship: Loss of income and medical
The property was placed on the market on February 14th at $110,000. The price was slowly reduced to $85,000 on April 11th and went pending on April 18th at $87,500.
The complete Short Sale Package was submitted to Chase on April 24th.
On July 17th we were asked by Chase to reduce the Seller concessions from 6% to 3%. So we rewrote the contract at $84,500 and reduced the Seller concessions.
On August 4th the Buyer’s appraisal came in at $60,000. We rewrote the contract at $60,000 and submitted to Chase with the appraisal.
We received written approval from Chase on September 1st for $60,000. The amount of the “Short” is $77,000 or 60% of the mortgage. No note or cash contribution is required of the Seller.
From contract to approval took 137 days. Not too bad for Chase.
Available Short Sale Training:
- The Negotiator Interview $27.00
- www.ShortSaleSuperStars.com FREE
- Short Sale Agent Training Webinars 8 Hours of training and materials for $197.00
- Short Sale Listing/Submission Package $47.00 Click for details
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
***The content of this blog is solely my opinion***