Lakeland Short Sale with Wells Fargo/ASC and Aurora Home Loans Closed.
Published On: February 24, 2011 Posted by: TownsRealty
I am proud to announce that yet another one of my Lakeland short sale listings has closed. The owner had two loans: one with ASC/ Wells Fargo and one with Aurora Loans.
The seller had paid $399,900 for this home in 2006. The value of the home dropped more than 60% over the past 5 years.
We got an offer on the home at $175,000 and the seller’s lender accepted the offer.
The buyer had a great real estate agent who knew the short sales process. Plus, she informed the buyer that this short sale process could take a long time. Also, buyer was pro- active and paid for an appraisal and because of that the short sale process with the bank moved quickly.
My seller was forgiven 100% of the remaining balance of both loans and was 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 is due to persistence, knowledge and commitment to your clients.
Now, on to the next successful short sale closing…stay tuned