Deland Short Sale Closed with Bank of America.
Published On: January 20, 2011 Posted by: TownsRealty
WE are proud to announce that yet another sale of our Deland short sale listings has closed. This property had a first and a second loan with Countrywide now Bank of America.
We listed this home at an offering price of $224,900.
The seller had paid $290,000 for this home in 2006. The value of the home dropped close to 30% over the past 4 years.
We got an offer on the home but Bank of America thought the home was worth more than the offer at $180,000 and the buyers walked away.
We got another offer a few months later at $149,900 since the values in the neighborhood dropped drastically over time. Contract was executed on September 2010 and we got an approval at the offer price and closed by December 17, 2010.
So you see the secret to successfully closing short sales is to never give up and do your due diligence on the file.
Success is due to persistence, knowledge and commitment to your clients.
Now, on to the next successful short sale closing…stay tuned