This HUD FHA short sale at 800 Wild Oak, Destin Florida, was approved by Bank of America in 13 days! Why? How? What?
Why? The seller was proactive! He contacted Bank of America early when he was unable to pay his mortgage. When a modification did not work, he applied for the HUD Pre Foreclosure Sale Program.
How? When my Destin seller contacted me, he provided me with the HUD Approval to Participate form, indicating a starting list price.
What? I obtained a full price offer for the seller in one day. I ensured the contract was written without closing costs HUD won't pay. They will only pay reasonable seller's costs, (with the exception that if the buyer's loan is FHA, they will credit 1% towards buyer costs).
In fact, the Bank of America short sale negotiator emailed me:"I wanted to inform you I have never received a HUD (settlement statement) that was this clean. Thank you so much!!! It definitely makes my job easier!"
Additionally, because I sold this seller's home so quickly, he qualified for a HUD seller credit of $1000. That's the incentive HUD pays if the property sells within 3 months of application (reduced to $750 thereafter).
If you have a Destin Florida home with FHA HUD mortgage, and you are unable to make your mortgage payments, contact your lender right away. Consider a HUD Pre Foreclosure sale, and be sure to contact an experienced Destin HUD 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.
Wendy, What a great break to have a pro-active seller, they are worth their weight in gold.
Steve - For sure, it is refreshing!
Wendy,
The seller paved the way but you took it to the finish line. Great job for breaking the speed record!
Great Job, Wendy! I'm impressed.
Wendy, I wonder if they all went so quickly we might just get the market rolling again. Great Job, Destin, Florida has a short sale specialist all right.
13 days is amazing Wendy. I have never been so lucky to have an immediate turn around.
Now that's a 'short' short sale. Very impressive both on your part and a smart seller.