About Sanford's Estates At Wekiva Park

The Estates at Wekiva Park is an upscale gated, waterfront community grazing the shores of the Wekiva River in lovely Sanford, Florida. The neighborhood, featuring gorgeous, majestic homes with Mediterranean architecture, includes a spectacular grand entrance, impressive picnic area, children's playground, tennis courts, and convenient fishing docks set up all along the bank of the famous Wekiva River. Enjoy fishing in the backyard of your grand Floridian home. All the homes sit on oversize lots, and when the development is completed, there will be only 85 exclusive homes in the subdivision. If you want to explore outside the neighborhood, try going to Rock Springs Run State Reserve, where their many outdoor activities will keep you infinitely busy and energetic.

The schools zoned for the Estates at Wekiva Park are Wilson Elementary School, Sanford Middle School, and Seminole High School.

The Estates at Wekiva Park is conveniently located off West State Road 46 and Osprey Hammock Trail, 5 minutes to South Orange Blvd., 9 minutes to Interstate 4, and 31 minutes to downtown Orlando.

ESTATES AT WEKIVA PARK SANFORD, FL MLS LISTINGS

• Location: Off West State Road 46 and Osprey Hammock Trail in Sanford, Florida
• Property Type: Single Family Homes and Townhomes
• Amenities: Gated Community, Tennis Courts, And Playground
• Density: 105 Home Sites

To see all of the Estates At Wekiva Park homes for sale you can visit Estates At Wekiva Park Real Estate or visit our communities page and learn about the best communities around Central Florida.

These smart homeowners didn’t have to lose their houses to foreclosure. Instead, they hired a real estate agent to help them sell their house as a Short Sale.

By finding a ready, willing, and able buyer, they were able to stop foreclosure proceedings in their tracks and walk away with a clean ‘financial’ bill of health. In some cases, they may have had to sign a promissory note for a percentage of their total obligation. The important thing, however, is that they were able to salvage the ruinous credit rating they would have incurred with a foreclosure. Better yet, in as little as two years — or even less — they’ll be able to purchase a new home with a conventional mortgage.

Properties have been listed and sold by various MLS members. Data drawn from the My Florida Regional Multiple Listing Service. This report is valuable for estimating current market values in the designated community or subdivision.

What is a Short Sale?

A Short Sale occurs when market conditions make it impossible to sell a house at a price that allows the borrower to pay off the mortgage loan and associated closing costs in full. In these cases, the mortgage lender must agree to Short Sale terms before a house can be sold. Why? Because the payback of the loan will be ‘shorted’ a significant amount and the lender will be forced to take a loss.

Understanding How a Short Sale Can Often Help

Mortgage lenders must cooperate with borrowers in order to facilitate a Short Sale. Doing so helps them avoid the even higher costs associated with foreclosure proceedings.

Selling a house as a Short Sale can be complicated and time-consuming. The same proof of financial condition submitted when the homeowners first took out their home loan must be submitted anew in order to successfully settle the loan under Short Sale conditions. Lenders must evaluate each Short Sale on a case-by-case basis, and the approval process can often be long and frustrating ... or sometimes short and sweet.

Once a purchase contract is being considered for a Short Sale, foreclosure proceedings, if there are any, can usually be put on hold.

In order to approve a Short Sale, lenders take into account several factors, among them the borrowers’ personal and financial situation, local real estate conditions, the market value of the house, and the strength of the purchase contract. Borrowers must also make a convincing argument that they —

• Cannot keep up with loan payments due to unemployment, job relocation, divorce, medical expenses, or other long-term financial crisis
• Have no choice but to sell their house
• Can’t repay the loan in full given current market values

The Process of a Short Sale

Homeowners must jump through a few extra hoops, but these extra tasks are no more difficult than the process they originally went through to purchase their house.

• Put House on the Market - Because the borrower’s lender must validate that the house was marketed and contracted at arm’s length, a homeowner cannot sell the house on his own but must list it with a real estate broker.
• Short Sale Package - Once a Sale & Purchase Contract is finalized, homeowners must assemble personal financial information that will be submitted to their lender in support of making their Short Sale claim.
• Selling & Marketing Package - Your real estate agent should put together a Market Report reflecting the selling circumstances of the house as well as the real estate conditions of the neighborhood and town.
• Lender Approval - After the lender has received everything, they will order an Appraisal or Broker’s Price Opinion, which is an independent determination of the house’s market value. Then, after evaluating everything, the bank will make a decision.

As difficult as a Short Sale may be, it’s important for homeowners to be prepared for anything and to proactively deal with any problems that come along. It’s also important for them to also contact an attorney and/or tax accountant.