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Another Bank of America Short Sale Closed By The Sold Home Solutions Group!
The Sold Home Solutions Group has closed yet another Bank of America short sale in Orlando Florida!
"Mark Adams really made the short-sale process easy. He got me the result I wanted in less time than I was expecting. Short-sales are scary, but Mark made the process less
intimidating and I really felt like he was working to get me the best result."
Melissa B. – Orlando FL
Lien Holders – 1 - Bank of America
Original List - $179900
List price - $175,000
Sales Price - $168,000.00 with 3.5% closing costs
Sold Terms – FHA Financing
Deficiency – Waived
Seller Cash Contribution - $0
Total DOM - 25
Total # of offers negotiated - 4
Days to approval - 90
Days to close – 30
The Sold Home Solutions Group just closed a Bank of America short sale. There was one Lien Holder, Bank of America. The property was listed for $179,900.00 and sold for $168,000.00 where the purchaser had FHA financing and received a 3.5% contribution in closing costs from Bank of America in this short sale. The Seller received an approval letter with no deficiency language. An approval was obtained 90 days after the final buyers agreement was accepted and closed 30 days after approval.
Many Orlando, Lake Mary, Winter Springs, Longwood, Sanford, Apopka mortgages now exceed the fair market value of the home. Negative equity has become an increasing problem for the nation, but is excessive in the Orlando area. With the prices of Orlando area homes decreasing, and the interest rates on previous subprime loans increasing, many Orlando home sellers have no choice but to negotiate with the bank to take less (also known as a “short”) on the sale of the property. The seller proves a hardship to the bank which could include divorce, loss of income, health issues and other various situations proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Real Estate agent, such as The Sold Home Solutions Group, Short Sale Agents to sell their home and negotiate the sale with the bank.
The Sold Home Solutions Group offers a tool called The Short Sale Or Stay Calculator. This tool can be used to help a Homeowner in Florida receive an instant estimate on what their home is worth in Florida. They can enter their mortgage payoff and use this math to decide whether to consider a Las Vegas Short Sale or Stay. This tool can be found at http://www.ShortSaleCalc.Info
The Sold Home Solutions Group is an award winning team specializing in Distressed properties - specifically Orlando Florida Short Sales as well as residential real estate in Lake Mary, Longwood, Winter Springs, Winter Park and East Orlando. Reach The Sold Home Solutions Group at 407-617-7808.
407-617-7808 - When Ready to sell your Orlando Home - if you owe more than the mortgage, we can help. Call us to discuss short sale options. Lake Mary Short Sale Specialists with Keller Williams Realty.
We are the Premiere Short Sale Team in Central Florida. We specialize in gettting homes sold in which the owner owes more than the home is worth, without the owner bringing funds to the table.
Building a business is all about doing something to be proud of, bringing talented people together and creating something that’s going to make a real difference to other people’s lives. One philosophy that separates us from the rest is that we don't focus on profit but rather on customer satisfaction and the end result of a "SOLD" sign in your front yard. It's that type of thinking and "mindset" that puts us at the top of our industry. We believe that if a businessperson sets out to make a real difference to other people’s lives, and achieves that, he or she will be able to pay the bills and have a successful business to.Contact us today at 407-617-7808. We look forward to serving you!