Monday, January 10, 2011

First Fort Walton Beach FL Short Sale Approval of the Year


This lightning speed short sale approval for a Fort Walton Beach Florida townhouse in Shangra Woods was a great way to start 2011. How long did it take? 15 days!

December 20: Short Sale package faxed to Citi Mortgage

December 29: Negotiator assigned (who says people don’t work over the holidays?)

January 4: Approved!

This Fort Walton Beach short sale seller had one mortgage, which helped the process. This was not all “slam-dunk”, but close.

Citi slightly countered the purchase price with a minimum net requirement. I questioned the settlement statement, asking if all fees would be approved if the net were met. The buyer had asked for 6% closing cost credit. Citi limited the amount to 3%. (Many short sale lenders will not pay more than 3% if they even agree to extra closing costs for the buyer.)

The thorough package and excellent communications with the negotiator were the keys to success. Result? Happy New Year!

If you are facing foreclosure in Fort Walton Beach Florida, be sure to consult an attorney and an experienced Fort Walton Beach short sale agent.

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

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