Successful Wells Fargo Short Sale Closing - Dundee FL - Polk County
I am delighted to report another successful short sale closing that took place just a few days ago. The home is located in Dundee, FL which is located in Polk County close to major attraction and a short drive to Lakeland FL. The home was built in 2005 right around the housing boom. It is a 3 bedroom/2 bath home which has about 1,594 square feet of living space. They purchased the home in 2007 for $179,900.
There was only one mortgage on the home with Wells Fargo - Mortgage Balance $163,200
The Hardship was unemployment to one borrower and curtailment of income to the other. They tried to do a loan modification which was denied, so their only alternative was to sell their home as a short sale to avoid foreclosure.
I was contacted in August and listed the property shortly after I received all pertinent documents for $85,000. We had lots of showings that generated multiple offers. Contract was accepted with a purchase price of $82,000 on September 5th and everything was submitted to Wells Fargo through the Equator System. On September 28th I received a short sale approval letter notifying me that Wells Fargo accepted the short sale with full waiver of deficiency.
My seller were shocked of the speedy approval and totally were relieved when they read their approval letter. Unbelievable they said because of all the horror stories they have read and heard.
It really was one of the easiest and well organized short sale closings on the buyer's side I've had, since they done all the inspections, appraisals after the purchase contract was signed.
Mortgage Balance: $163,200
Purchase Price: $ 82,000
Difference of: $81,200
Closing took place on November 28, 2011 - it took 98 days from listing to closing.
As a Lakeland FL Short Sale agent, I can tell you that short sales close. Call me at (863) 619-6918 to talk about your options on how to avoid foreclosure.
IMPORTANT NOTICE: CDV Transatlantic,Inc. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact Petra Norris - REALTOR(R) at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland FL real estate landscape and all it has to offer.
Copyright © 2011 By Petra Norris *Successful Wells Fargo Short Sale Closing - Dundee FL - Polk County*
Authored by Petra Norris
Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.