Friday, April 13, 2012

1137 Bay Ct., Destin FL - Bank of America Va Compromise Sale

Destin VA Compromise Sale
Beautiful short sale home in the heart of Destin Florida in Bayview Manor. The yard is a dream - deep, with lovely trellises, and a big screened porch to enjoy it all. Inside you'll find contemporary flair with cathedral and trey ceilings. Fun kitchen with a tile center island and creative track lighting. Much of the flooring is tile. Berber carpet upstairs and in all 3 bedrooms. Nearby - Joe's Bayou to launch your boat or bring your fishing pole.  Also, nearby, Destin Harbor, shopping and great places to eat.
This Destin Florida home is a VA Compromise Sale with one mortgage.
1137 Bay Ct., Destin FL - Bank of America short sale - offered for $237,900
Destin VA Compromise SaleDestin VA Compromise SaleDestin VA Compromise SaleDestin VA Compromise SaleDestin VA Compromise SaleDestin VA Compromise SaleDestin VA Compromise SaleDestin VA Compromise Sale
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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Wednesday, April 11, 2012

Did You Get a HAP Bill for Overpayment after Closing?

HAP Eglin PCS
Did you have an Eglin Air Force Base HAP sale in the past few years?  If so, be aware that they are auditing files and you might actually receive a bill if they claim you were overpaid.  One of my Fort Walton Beach HAP sellers received just such a letter with a bill for almost $5000.  They claim he was accidentally overpaid for his sale over two years ago. The letter mentioned he might be "suprised".
If you do receive a bill for overpayment from HAP, you may be offered options, as outlined below:
1. Instead of paying HAP back in a lump sum, you may be able to get a Voluntary Repayment Agreement, i.e. pay HAP back in installments
2. You can ask for and obtain copies of your HAP records
3. You can request the U.S. Army Corps of Engineers re-examine your HAP records to make sure your bill is valid
4. You can ask for an administrative hearing to review your case
5. You can request a waiver or forgiveness of the bill
I suggested that my HAP seller contact the HAP Chief, an accountant or tax attorney or consider getting legal aid on base.  If you have had a similar experience with HAP, comment below.
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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Friday, April 6, 2012

BB&T Approves Navarre Florida Short Sale in 30 Days

 Navarre BBandT short sale
This was a speedy approval for a vacant land short sale in Sound Hammock, Navarre Florida.  The waterfront lot, on Santa Rosa Sound, had one mortgage.  Here are the details:
Mortgage Holder:  BB&T
Original Purchase Price: $475,000 in 2005
Mortgage Amount: $430,000
Sales Price: $85,000
Cash Contribution Required: Yes
This short sale, obviously, was a huge loss to the investor - over $350,000 when including closing costs. Since it was an investment property, a vacant lot, we expected BB&T to ask the seller for a cash contribution or promissory note, or both.  They did. Originally, BB&T accepted the seller's offer of $9000 to completely waive any further deficiency. Before closing, however, BB&T re-contacted us and offered to reduce the cash contribution to $6000 and credit the buyer extra closing costs for a quicker closing. Hurray!  All parties agreed. The total time for approval - thirty days.
If you have a BB&T mortgage and are considering short sale, contact an experienced Navarre short sale agent.  Questions? Email me atitswendy@rulnickrealty.com

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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Wednesday, April 4, 2012

17 Birch St., Fort Walton Beach Florida Multi-Family - Needs Work

Fort Walton Beach multi-family
Short sale multi-family unit for sale in Fort Walton Beach Florida. A triplex, this property at Birch Avenue consists of three attached townhomes, each with 2 bedrooms, 1.5 baths and 928 square feet for a total of 2784 square feet. Each unit has a private fenced court yard. Handyman will love this part - it needs work!  You may want to replace the carpet, cabinetry, windows and and modernize! What are the current rents? Uni A- $500 , Unit B- $600 Unit C- $500, for total yearly gross income of $19,800. There is off road parking for six cars. This is a Regions Bank short sale with no other lienholders.  It's hard to find a multi-family unit in the area with such an attractive price.  Birch Avenue is located just off Beal Parkway and Highway 98.
17 Birch St., Fort Walton Beach FL - multi-family - offered for $179,700
Fort Walton Beach multi-familyFort Walton Beach multi-familyFort Walton Beach multi-family
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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