Short Sale Listings
A short sale is when the bank or mortgage lender agrees to discount the loan balance because of an economic or financial hardship on the part of the Seller. This negotiation is all done through communication with a bank's loss mitigation or workout department. The homeowner sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower's financial situation.
Burley Properties works to negotiate with the Mortgage holder to make the short sale process as smooth as possible.
This link (Short Sale Information) contains detailed information regarding short sales and what is involved in the process from start to close! Of course, if you have any questions, please feel free to contact me and I will be happy to assist you. You can reach us at 321-427-6788 or LynnCBurley@aol.com.
Here is the most updated list of short sale listings! Check back regularly for new listings and price changes.
***********LISTED SHORT SALES***************
Newest on top
Keep an eye out for new Short Sales.
Under Contract
http://www.brevardmls.com/brv/maildoc/3105875_1337102505-May-15-2012-1_21_45pm.html
1184 Pine Creek Cir NE Palm Bay, FL 32905 - Pool Home in Gated Community. 3 bedroom, 2 bath. 1579 sq. feet under air. Built in 2001. 2 car garage. Extremely private screened in pool with large patio area. Split floor plan. Very spacious & open floor plan. Bamboo wood floors in living room. Master bath has jetted garden tub & separate shower. Washer and dryer included. Community pool & clubhouse within walking distance. Community recreation center, library, & Turkey Creek boardwalk & jogging trail close by. 20 minutes to the beach. $120,000. Under contract.
SOLDS:
http://www.brevardmls.com/brv/maildoc/3105875_1337102653-May-15-2012-1_24_13pm.html
1200 Foxridge Place Melbourne, 32940 - 3 bedroom, 2 baths, 1742 sq. feet under air. Built in 1999. 2 car garage. Plenty of privacy on cul-de-sac with pie shaped lot. Master bath boasts tub and shower. Porch under truss. Offered for $135,000. Sold for $120,000 with 3% Seller paid concessions for Buyers closing costs & prepaids.
http://www.brevardmls.com/brv/maildoc/3105875_1337102701-May-15-2012-1_25_01pm.html
633 Cedar Side Cir NE Palm Bay, 32905 - 5 year old Condo. 2 stories. 2 bedrooms, 2.5 bath. In great shape with Corian countertops, 42" cabinets. Walk in closet in Master Bedroom. Huge living room. Close to community pool. Listed at $55,000. Sold for $50,000 Cash.
Before we list a Short Sale property on the MLS, we require the following documents from the Seller:
♦ Signed listing agreement
♦ Short sale addendum
♦ Property disclosure
♦ HOA Disclosure (If needed)
Then we need:
♦ Hardship letter
♦ List of all your monthly bills/ expenses like a profit and loss statement
♦ Last 2 years tax returns
♦ Last 2 bank statements
♦ Last two paystubs
♦ The authorizations for Burley Properties signed with the banks name and loan # (do 2 if you have 2 loans)
Last but not least we will need all the contact information you have for the banks and also people you have already spoken with if any.
Updated 5/15/12