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Successful Short Sale with Fifth Third Bank.

Posted by Bryant Tutas on November 9, 2009 at 11:17am
Avoid foreclosure. Another successful Short Sale Closing with Fifth Third Bank.Mortgage amount: $185,000.00Sales price: $87,500.00Lender agreed to 3% in closing costs and a 6% commission.Net to Lender: $77,078.00Fannie Mae was the Investor and there was Mortgage Insurance (MI).Challenges: The Mortgage Insurance company started out wanting $60,000 in any combination of cash and/or promissory note. We negotiated for 2 weeks. The Seller ended up bringing $1,000 to closing. No note.The first Buyer walked after keeping the property off the market for 60 days. The 2nd Buyer closed 38 days after going under contract.Total time from placing it on the market until closing: 205 days.Seller testimonial:Dear Bryant"I want to personally thank you for your exemplary handling of our recent real estate transaction. From day one you were a professional; courteously and patiently guiding me through the entire process. Your response time was unparalleled; you responded to my emails and phone calls within minutes, as if I were your only client!And I believe that’s what every seller (and buyer) wants – to get the idea, or enjoy the feeling, that Bryant Tutas is their exclusive agent! I tried quite a few real estate agents before I finally came to you, and you jumped into action from day one! My property had been on the market for more than a year; within days of contacting you I had my first real offer, and very soon the house was in contract. We just closed a few days ago, and I am so grateful for all your help. Thank you Bryant, for everything!"Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Tags: fifth, third
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Comments

  • Bryant Tutas November 9, 2009 at 11:50am
    I only need about 50 more to pay my bills!!!
  • Jeff Payne November 9, 2009 at 11:35am
    Very good, chalk another one up for the good guys!
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