Florida Short Sale Approved by Chase in 137 days!
By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
Another successful Short Sale approval in Central Florida! Lender: Chase Amount owed: $129,000 Hardship: Loss of income and medical The property was placed on the market on February 14th at $110,000. The price was slowly reduced to $85,000 on April 11th and went pending on April 18th at $87,500. The complete Short Sale Package was submitted to Chase on April 24th. On July 17th we were asked by Chase to reduce the Seller concessions from 6% to 3%. So we rewrote the contract at $84,500 and reduced the Seller concessions. On August 4th the Buyer's appraisal came in at $60,000. We rewrote the contract at $60,000 and submitted to Chase with the appraisal. We received written approval from Chase on September 1st for $60,000. The amount of the "Short" is $77,000 or 60% of the mortgage. No not...
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