Nationstar and Suntrust short sale closed in Orlando
Published On: May 31, 2013 Posted by: TownsRealty
Another one of Towns Realty Orlando short sale listings was successfully closed with Nationstar and Suntrust.
First lien holder was Nationstar and second lien holder was Suntrust. Some short sales are just painful and this one was one of them.
We received an offer relatively soon on the property at full listing price at $134,900 but in the end Nationstar said that the investor wanted $152,000. At that time the property value was $134,900 so the buyer walked away.
We had to put the property back on the market at $152,000 and wait for the real estate market to improve in value.
We received an offer and it took Nationstar another 4 months to issue a short sale approval even though the offer was at $152,000.
On the other hand, Suntrust was easy to work with and issued a short sale approval relatively soon.
In the end the great thing was that the seller was forgiven the remaining balance of the loan and received a full deficiency waiver. Needless to say that the seller was very happy with the short sale outcome.
Success is due to persistence, knowledge and commitment to your clients.
Now, on to the next successful short sale closing…stay tuned