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Tutas Towne Realty and Bryant Tutas just had another successful Oviedo Florida Short Sale closing with SunTrust Mortgage.

The property:

4 bedroom 2 bath townhouse located in Hawthorne Glen Oviedo Florida. This home has 1,828 sq ft of living area. It was purchased new in March of 2006 for $277,200. It Sold today for $125,000. 

Liens:

• 1st Mortgage with SunTrust Mortgage for $234,500

Hardship:

• Curtailment of income. Current on payments. Purchased for their son when he was going to college. He graduated and they no longer needed the unit.

Summary:

This was a referral from my partner Wendy Rulnick. I placed the property on the market 2 September and had multiple offers within the first 3 days. Negotiated a cash deal at $125,000.Within 45 days we had an approval from SunTrust. However they wanted the seller to contribute $10,000 to the transaction.The sellers were not in a position to do so, so we asked the buyer to pay it. They said no.

We canceled the contract and placed it back on the market. Within 1 day we had a new buyer willing to pay $125,000 AND make the $10,000 cash contribution for the seller. This was agreed and fully disclosed on the contract, on the HUD and to SunTrust. The buyer paid the $10,000 at time of closing and the seller received FULL WAIVER OF DEFICIENCY on an investment property with out missing any payments!

I never saw the property, never met the seller or the buyer. The entire transaction was handled via email and text messages.

Tutas Towne Realty placed the property on the market 2 September 2011.  The transaction closed on 27 December 2011. 113 days from listing to closing!!

SunTrust Mortgage accepted $125,600 or .54 cents on the dollar for the 1st mortgage. 

***The Seller received FULL WAIVER OF DEFICIENCY on an investment property with out missing any payments!

From Mrs Seller:

• Thanks Bryant!!!  Best news you could have given us.  We will certainly keep you in mind if we should hear of anyone needing your services.  You have been terrific to work with and we can't thank you enough for staying on top of the whole process.

From Mr Seller:

• Thanks Bryant.  You are by far the most professional person I have ever worked with!  Kind of bummed though.  I enjoyed having you in my life.

Do you need help with your Florida Short Sale?

Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.

• Chase Short Sale
• Sun Trust Short Sale
• GMAC Short Sale
• Wells Fargo Short Sale
• Bank of America Short Sale
• USA Bank Short Sale
• PNC Bank Short Sale
• Citi Short Sale
• HomeEq Short Sale
• Fifth Third Bank Short Sale
• ING Direct Short Sale
• GreenTree Short Sale
• Capital One Short Sale
• ASC Short Sale
• First Horizon Short Sale
• E-Trade Short Sale
• Transland Financial Short Sale
• US Bank Short Sale
• IBM LBPS Short Sale
• Nationstar Short Sale
• BAC Florida Short Sale
• Real Time Solutions Short Sale
• Fannie Mae Short Sale
• FHA Short Sale
• Selene Finance Short Sale
• Indy Mac
• One West Bank
• DTA Solutions LLC Short sale

Can we add you to our list of successful Short Sales?

Are you facing foreclosure in Florida?