Another BofA approval. Only took 7 months
It only took 7 months BUT we have another Bank Of America Short Sale Approval.
Location: Kissimmee Florida.
Details:
Placed on the market with Tutas Towne Realty on March 1, 2009 at $89,000.
Went pending on April 17th at $79,000 all cash Buyer.
Mortgages:
$188,000 owed on the 1st Mortgage with Bank of America.
$25,000 owed on the 2nd with Real Time Solutions.
Challenges:
Keeping the Buyer on board for almost 7 months.
The 2nd started out with Bank of America and was sold to Real Time Solutions about 5 months into the transaction.
The Seller is an investor than owns multiple properties.
Outcome:
Bank of America netted $69,000 (37% of what was owed).
The 2nd received $3,000
Only $500 cash contribution required from the Seller.
NO note
Happy Seller. Happy Buyer, Happy Agents
Location: Kissimmee Florida.
Details:
Placed on the market with Tutas Towne Realty on March 1, 2009 at $89,000.
Went pending on April 17th at $79,000 all cash Buyer.
Mortgages:
$188,000 owed on the 1st Mortgage with Bank of America.
$25,000 owed on the 2nd with Real Time Solutions.
Challenges:
Keeping the Buyer on board for almost 7 months.
The 2nd started out with Bank of America and was sold to Real Time Solutions about 5 months into the transaction.
The Seller is an investor than owns multiple properties.
Outcome:
Bank of America netted $69,000 (37% of what was owed).
The 2nd received $3,000
Only $500 cash contribution required from the Seller.
NO note
Happy Seller. Happy Buyer, Happy Agents
- Attachments:
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BofA Approval_new_new.pdf, 417 KB
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Replies to This Discussion
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Permalink Reply by Lynn Pineda on
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Bryant, I love how you say only 7 months "But" an approval. That is the beauty of it, that you did get approval.
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