Beachside II Condo, Sandestin FL
Lender: EMC
Original Purchase Price 2005: $800,000
Mortgage Amount: $640,000
Approved Sale Price: $300,000
Notes: Initial contract price was $359,000. Buyer was obtaining a Fannie Mae mortgage. Fannie Mae would not approve the Beachside II condo project for financing due to an outstanding lawsuit against the homeowners association. New Fannie Mae guidelines require analysis of the project where financing is sought, even for existing condominums. Since buyer was unable to get a Fannie Mae mortgage, EMC approved a reduced $300,000 cash purchase price.
To avoid foreclosure and sell your Sandestin home or condo as a short sale, contact an experienced real estate agent who specializes in short sales. It's Wendy! Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc. Destin Short Sales & Pre Foreclosure Help. Read Wendy's Sandestin Real Estate Blog Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204 Email Wendy: itswendy@rulnickrealty.com 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. Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". She and co-founder Bryant Tutas have developed short sale agent training.
Hi Wendy - I have heard that EMC is one of the better lenders to deal with in a short sale.
If it is SOLD it Must Be WENDY ....... AGAIN and again. Your Market knowledge and understanding of lender requirements clear saved this deal for both the buyer and the seller
Bill - The EMC negotiator was the epitomy of "professional"
Eric - Thank YOU!