Apopka Short Sale with Partners Federal Credit Union
Published On: July 22, 2011 Posted by: TownsRealty
I am proud to announce that yet another one of my short sale listings in Apopka has closed.
The seller had paid $602,000 for this home in 2006. The value of the home dropped about 60% over the past 5 years.
This was a challenging short sale listing and sale, because the builder was still building homes in the neighborhood. That was difficult competition but we were up to the challenge.
Nonetheless we got an offer at $259,900. However, the bank rejected it because they believed the house was worth $300,000. The buyer walked away and we had the property back on the market.
Second offer on the property was at $249,900 and (WOW!) it was accepted by the seller’s lender within 40 days.
The sellers were forgiven the remaining balance of the loan and were very happy with the short sale outcome.
So you see the secret to successfully closing short sales is to never give up and do your due diligence on the file.
Success in real estate is due to persistence, knowledge and commitment to your clients.
Now, on to the next successful short sale closing…stay tuned