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Just Sold! Blue Water Bay Area HAP Sale | Niceville FL Real Estate

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I just sold a house in Niceville Florida. The home was my listing and it was a Military HAP Sale "Homeowners Assistance Program". I represented the sellers in the transaction and they are very happy with the outcome. HAP sales are a great option for those that are so gracious to serve in our nation's Military.

Below is a link to the HAP website.

http://www.sas.usace.army.mil/hapinv/indexnew.html

Below are the details of the transaction.

Date Sold - 11/08/2011

Sold Price - $225,000

Price Per Square Foot - $107.91

Square Footage - 2085

Number of Bedrooms - 3

Location - Bluewater Bay Area in Niceville Florida

Feel free to call or email with any questions regarding Real Estate in Niceville or Blue Water Bay Florida. I am also happy to answer any questions about the HAP sale process.

Bluewater Bay Real Estate Search - Niceville, FL

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Bluewater Bay is located in Niceville, Florida and convenient to the beaches of Destin and Hwy 30A. Many familes choose to live in Niceville because they have some of the best public schools in the state of Florida. Feel free to call or email me with any questions about Bluewater Bay Real Estate.

Wells Fargo just approved this home in The Woodlands, Bluewater Bay, Niceville Florida, for a VA Compromise Sale. A VA Compromise Sale is similar to a short sale. The process is not always "smooth", and this one had a few issues, too.

The Problem:

VA appraised the home for more than the contract price. The buyer would not increase his offer to meet the VA required net proceeds of 88.13% of the appraisal.

Since the buyer would not pay more for the property, could the seller make up the difference? Normally, the answer is "no". VA frowns upon the seller bringing funds to closing, since a VA Compromise Sale is supposed to be a hardship situation.

The Solution:

We were allowed to go forward by providing a "gift letter" supporting seller bringing funds to closing that were "gifted", not loaned, to meet the VA minimum net.

The good news for the seller was VA does not expect repayment unless they want to get a VA mortgage in the future, and the Wells Fargo HELOC waived any right to a deficiency through our negotiations. The seller never missed a mortgage payment, which will minimize credit impact. (Although VA is quoted as saying the borrower must be "behind", that is not always the case.)

If you have a VA loan on a home in Niceville, Florida, are "upside down" in your mortgage, and need to sell, consider a VA Compromise Sale. As always, consult with an attorney and an experienced Niceville FL short sale agent.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Read Wendy's Niceville FL Real Estate Blog

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

This beautiful wooded lot on Capri Cove, Lido Village, just sold for $75,000 as a short sale. The parcel is one-half acre on a cul-de-sac. This great location in Bluewater Bay is a quick walk to the Bluewater Bay Tennis Center with 12 clay courts. Also, nearby- the Bluewater Bay Marina with 120 slips plus Schooner's restaurant. Bluewater Bay is a phenomenel community with pools, golf, trails, playgrounds and more. Niceville Florida is the perfect commuting location for Eglin Air Force base, and just over the bridge from Destin Florida beaches and shopping.

If you need to sell your Bluewater Bay property as a short sale, consider hiring an experienced Niceville short sale agent.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

I love it when you have a buyer who has it all together. What a pleasant couple I closed with yesterday. An example to all young people on how to handle your finances and reach your dream. This young couple not only owns one home, but now two. They have their act together. How wonderful and richly rewarding. I love this job!

Call Kelly Klein, Destin Real Estate Agent for Red Hot Realty, to list and sell your home or condo or help you buy a home or rental property on the Emerald Coast of Florida in Walton, Okaloosa and Bay Counties- Blue Mountain Beach, Bluewater Bay, Destin, Eglin AFB, Grayton Beach, Hurlburt Field, Highway 30A, Niceville, Panama City Beach, Rosemary Beach, Santa Rosa Beach, Seacrest Beach, Seagrove Beach, Seaside, Watercolor. Kelly is a buyer's representative and foreclosure specialist and can help you buy a foreclosed property in and around Destin and Panama City Beach, Florida.