Santa Rosa Beach short sale, Wells Fargo

Closed a short sale in Santa Rosa Beach, FL

Lender: Wells Fargo
One mortgage, $685,000 Balance
Sales Price, $190,000
Contract date 11/11/09
Close date 12/29/09
Commission 5%
Seller was an investor group, mortgage was current.

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Replies to This Discussion

Permalink Reply by Kent Dills on January 6, 2010 at 5:08am

Wow Jeff, congrats. What was the net discount Wells Fargo took - about $520K?

Permalink Reply by Jeff Payne on January 6, 2010 at 5:11am

Wells NET was about 163,000

Permalink Reply by Mori Langshaw Sr on January 6, 2010 at 5:16am

WOW! What is the market value?

Permalink Reply by Jeff Payne on January 6, 2010 at 5:19am

It was tough to figure the market value, that was the ONLY sale of its kind in a long time. Once I got it priced under 200K the flood gates opened.
Jeff

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