Tag Archives: house

A Step by Step Short Sale Story

Boy Meets House; A Short Sale Love Story

Boy meets house.  Boy loves house.  Boy wants to spend the rest of his life with house.  House is a Short Sale.  House is an Active Contingent Short Sale meaning that the seller has already accepted an offer, and now it’s up to the bank.  Boy doesn’t care.  Boy is in love. 

    Boy makes a backup offer.  Boy waits.  And waits.  And waits some more.  Why must he wait so long to have the house of his dreams?

    “It’s not you, it’s me”, says the house.  “You’re fine, but the bank needs to know all about me and my owners.  Are the owners suffering financial hardship or do they have a stash of money hidden somewhere and just don’t want to pay their mortgage?  Are they secretly getting their brother-in-law to try and buy the house, cheap?   Who is the lender?  Is there  a second mortgage? Delinquent taxes or HOA  fees?  Liens?  That is what’s taking so long.  “It’s not you, it’s me.” 

    “Are you seeing other people?”  asks the boy.  “Why yes I am!”  replies the house.  “I am seeing a parade of potential buyers and their realtors.  I saw an appraiser.  I saw inspectors and a surveyor.  I see many people; you must be patient with me.”

    Boy loses house.  The bank accepted another contract.  Boy is unbelieving.  Boy is angry.  Boy cries.  Boy is resigned.  Boy is hopeful.  “Maybe that relationship won’t work out”, he wishes.  Boy waits.  He begins to see other Houses.  Before he becomes emotionally involved with Another House, his realtor calls.  The “buyers walked”, so House is available once again. 

    Boy is jubilant.  The house is now a “Bank Approved” Short Sale!  Boy thinks, “now it is easy”.  House says “that isn’t so”.  Boy must wait.  Bank must re-evaluate the house and it’s owners to see if the owners are still suffering financial hardship.  Has any unexplained money shown up in their bank accounts?  Are they secretly getting their nephew to try and buy the house, cheap?   Is there a third mortgage?  Deliquent taxes or Hoa fees?  Any new liens?  Boy waits. Boy is weary and dispirited. But then….

    Boy gets House.  And, they (want to) live happily ever after. 

Let me help you with your very own  Short Sale saga in SW Florida.     

Dana Carrera, REALTOR                 Sand Castle Realty,  2220-2 Venetian Ct.,  Naples, FL  34109        239-438-8078

  www.DanasDays.com      www.SandCastlePros.com     

A peek at the past: Cheapest Single Family House in Bonita Springs in August 2011

SOLD

Bonita Springs

SINGLE FAMILY HOUSE

List Price: $ 49,900             

                           Construction: Concrete block\stucco

3 BR 1 Full Bath, plus 1 more toilet and sink

Square Feet: 1260

Bonita Springs, Florida  is just a great location in general, with miles of Gulf of Mexico coastline, access to I-75, half way between Fort Myers and Naples Florida.  The RENTAL MARKET here is HOT, HOT, HOT.   If you are a CASH INVESTOR looking for RENTAL POTENTIAL properties or a handy homeowner who wants to pay cash as you go and own the home outright; this might be for you.  It IS a “handyman special”, for sure.  I’m no home inspector but I suggest a new roof, new flooring and it definitely needs termite treatment.  Use my CONTACT information to let me know that you would like more information about this house.   Located off W. Terry St. in a family neighborhood, within walking distance to Middle School. The street has that Olde Florida feel with lots of mature trees.

Financial: Foreclosure.  Freddie Mac.  Property sold AS-IS. Buyer will be responsible for doc stamps on deed.

CONTACT me for additional photos and details from my personal walk-thru of the property.

*Information written here is to the best of my knowledge; and may only be my opinion.  Prior to making any investment, information should be verified and the investor is advised to and responsible for obtaining professional legal, tax, construction, and home inspection advice/reports.