Closed- Sold- Another Short Sale - Vintage Condo in South Beach Miami!
South Beach Miami Condo Short Sale- 727 14th Place- Park Vintage Condo SOLD and CLOSED.
Original Asking Price $169,777 in September 2010
Lowered price in increments until we got to $149,000 before we got an offer. Sold July 22, 2011.
Buyer offered $124,500 in March 2011.
Buyer seeking financing, FHA loan from Wells Fargo.
Total time from offer to closing, 4 months.
Total time from offer to acceptance letter, 70 days.
During our short sale evaluation with the seller - we recommended the HAFA program because he met the requirements for HAFA short sale.
Chase serviced the loan. Chase is very slow on HAFA deals in South Florida.
Chase countered buyer's offer at $144,000.
Buyer accepted the counter.
Then Wells Fargo ( the lender for the new buyer) did their appraisal.
Appraisal comes back at $117,000.
We go back to Chase with new appraisal. Chase will get less than this as an REO.
Chase lowers the price to $117,000.
There were issues with FHA and the Condo Association's Hazard Insurance policies.
We had to go back to Chase for extensions to the closing. Issues are resolved.
Closed!
Seller was approved for HAFA so he got $3000 and no deficiency. He was SO happy that he was getting the $3000 because he really did not believe that was going to happen after all the lies that were told to him by Chase during his loan modification process in 2010.
But the night before closing- the closer from Chase called us to tell us that they had $20,000 more than what they needed to net so we could give that $20,000 to our seller at closing!!!!
So our seller received $23,000! You should have heard him on the phone as we told him this awesome news!
The photo on the left is our title company agent- Tina with Jack our seller. The photo on the right is a photo of Jack with the new buyer and the buyer's agent. The buyer was renting in the same condominium so he knew her already. This condo complex is an art deco historic building with only a few condo units in it.
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I cant thank you, Nestor, Katerina and Cheska enough for all the excellent work you did for me on this seemingly never ending adventure called my Short Sale! From the first time I talked to Katerina at Vanice Zimmer advice,(Thank you Vanice), I felt comfortable and confident to trust your Real Estate team with my future. Cheska has always been gracious and flexible with showing the apartment and you and Nestor have been miracle workers with the banks. I am so grateful to all of you and would recommend you highly!
With a full heart, Thank you, John (Jack) Veet |
Nestor Gasset and Katerina Gasset- Realtors®, CIPS, ABR, SFR, GRI, REOS
International Properties & Investments, Inc
Call us today at 561-753-0135 to get your house sold.
Katerina,
Very well done!
A knowledgeable agent and tenacity can do wonders!
Bill
Hi Katerina - It is always good to read about another successfuly closed short sale in the USA. As we both know, short sales can be very difficult and time consuming to close.
That's the way to go Katerina & Nestor...the Wellington short sale agents with movement on their short sales, knowledge and push through to successfully make it happen for their short sale clients. What a satisfied seller!
Pretty amazing hearing stories like this. Talk about a satisfied customer. Way to go.
That is what happens when you hire someone who knows what they are doing with shortsales. Congrats and great job
Congratulations on your wins! Great job. Well done!
Absolutely fantastic news, Katerina. Folks are very hesitant and ignorant when it comes to short sales. However, when a seller seeks the expertise of Wellington short sale agents like yourself and Nestor to work on their behalf, they are in good hands. Congratulations and thank you for sharing such a terrific outcome.
Nestor & Katerina, good news and thanks for sharing this wonderful closing. This is why South Florida distressed homeowners need to hire experienced Wellington Short Sale Agents. Again congradulations!
Congratulations Nestor and Katerina! Your expertise as Wellington Short Sale Agents will be able to help more families sell or find the homes they want!. Congratulations again!
Two loans at two banks does not make for a simple short sale. Congratulations on your success.
That is an awesome story. We just don't have very many short sales or REOs in our area so I'm not experienced in working the short sales. I love to read how the negotiations have gone. Nicely done.
I bet yiour seller was extremely happy. He looks happy in that photo.. $23,000 in his pocket and a short sale.
Judi- You are very blessed:)
Thanks everyone for your comments. I have been swamped between remodeling a second office for our new video production room and Nestor's private office- our 8 yr old just made the traveling team, baseball, we took in 3 listings last week that needed a lot of attention, closings, launching group coaching, teaching for ARU, private coaching and we are helping brokers brand themselves online- big projects. Lots to do and I fell short on returning comments. Sorry. I love reading all your comments. Everyone of them. Katerina