Location: Oviedo, FL
Lender: Wachovia (originally through World Bank)
Initial Purchase Price of Home: Over $450,000
Loan Amount Owed: Approx $375,000
Hardship: Loss of job necessitating relocation
Initial List Price: $315,000
Final List Price: $295,000
Sold Price: $295,000
Last Mortgage Payment: Homeowners never stopped making payments
Time to Obtain Lender Approval for Short Sale: 15 days
Days from Listing to Sold: 153
Complications: 1) Buyer #1 dropped out when lender approval came in because the buyer of his house backed out and he was unable to obtain financing. 2) Buyer #2 backed out only three days after signing contract and before deposit was submitted.
What Went Right: Buyer #3 came in at full list price and full cooperation.
Monetary Contribution Required of Homeowners to Finalize Short Sale: $0
Listing and selling homes in the North and Northwest Suburbs of Chicago. Also specializes in Short Sales.
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