This Destin Florida condo at 4030 Dancing Cloud Ct was just approved for short sale by Bank of America.
It was an interesting journey selling this Indian Lake condo unit. Over a year ago, Bank of America had a contract with a much higher purchase price. They approved the sale, but the buyer's lender, also Bank of America, appraised it for less. Bank of America's short sale department refused to lower their approved value, so the sale fell through.
Fast forward one year later. The condo is now worth almost half. We get a new contract for about $50,000. Bank of America takes an extra month to move the short sale into the HAFA program (Home Affordable Foreclosure Alternatives). After sixty days, they determine the seller does not qualify. They finally issue approval as a traditional short sale.
Meanwhile, the past due association fees have added up to almost $20,000. Luckily, the association agreed to settle for half, which was paid by the buyer.
If you are trying to avoid foreclosure in Destin Florida, consult an attorney and hire an experienced Destin 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
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
