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You Can Sell Your High Dollar Loss Sandestin Short Sale

High Dollar short sales


Do you think your mortgage is “too upside down” to do a short sale? Think again. Many Sandestin Florida homeowners bought houses and condos with loans over a million dollars in 2004-2007. Today, those property values might worth one-half of their original purchase price. With such high dollar losses and faced with financial difficulty, many of these homeowners don’t think they have a chance at a short sale.Heck, even some real estate agents question me before showing my Sandestin listings.They say:

“I checked public records.You have that property listed at a BIG loss from the original mortgage amount. Can you even get the short sale approved?”

What? The loss amount?Why are you asking me that question? Any loss amount can be approved – if the other ingredients in the short sale are right.Some of those ingredients are: copies of bank statements, tax returns, paystubs, hardship letter, fair market value offer. Wait!This all sounds like a standard short sale!Hmmm…. well, it is!For example, I just received approval on a Bank of America short sale listing in the Burnt Pine subdivision of Sandestin Florida. The original mortgage was over one million dollars, and the net proceeds from the short sale to the lender will be about $490,000. It will be $530,000 less than the mortgage balance.Did the short sale process take longer?Yes, but not much more than the standard time frame.Did the seller participate in the loss? Yes, the seller agreed to a small promissory note and a cash contribution.Did Bank of America waive its right to seek a deficiency judgment? Yes, it did.


How did we succeed getting approval for this high dollar loss Destin Florida short sale?The same way we get other short sales approved.Complete documentation, a strong contract, a serious seller and tenacious follow up

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call 850-650-7883 or 1-877-487-9639

Email Wendy:

Sandestin FL Short Sales & Pre Foreclosure Help.

Santa Rosa Beach PNC Short Sale – Approved in 2 Weeks No Deficiency

Santa Rosa Beach short sales


The other day I received a happy approval on a short sale lot in Santa Rosa Beach Florida.  The short sale lender PNC, had taken over the servicing on the loan from RBC Centura.  The original mortgage amount was about $550,000 in 2004.  Today, the value of the Santa Rosa Beach lot is about $70,000.

The seller was concerned we would not get an approval with such a huge monetary loss to PNC.  I said, “Let’s give it a try!”.  (I’ve gotten many short sales approved with high dollar losses.) The lot went under contract in about a week.  I already had a contact at PNC, so started the short sale process quickly by email.  The only documents that would be required were the HUD-1 settlement statement, the contract, buyer pre-approval and my listing agreement. The short sale was approved in two weeks!

The problem? The PNC negotiator could not get a waiver of deficiency What is that?  That means the seller would be liable for the almost $450,000 remaining debt on the loan.  He is in his 70’s and unable to pay this due to job loss and a very serious illness.  I asked the negotiator to go back to management one more time, and I highlighted the key points of my seller’s hardship letter. It explained in detail how the his disease would unfortunately cause his health worsen.  I also emailed the negotiator a link to the National Institute of Health website with a description of the illness.

Two hours later. Short sale approved – no deficiency! 

The Santa Rosa Beach couple was delighted. In fact, they came to meet me to thank me.  They brought a gift… a little crystal angel.  That meant more to me than I could express, and I told them.

My advice if you think you won’t be able to short sale? Never give up! Hire an experienced Santa Rosa Beach short sale agent who can guide you through to success, and on with your life.

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy:

Santa Rosa Beach FL short sale help

2932 Pine Valley, Burnt Pine Short Sale, Sandestin FL – Just Sold

2932 Pine Valley

This unique short sale home at 2932 Pine Valley, in the Burnt Pine subdvision of Sandestin just sold.  It was built for privacy, surrounded by woods and nature on all sides. The contemporary, stylish Burnt Pine home had tall ceilings, cherry floors and monumental windows showcasing the surrounding forest. The kitchen had granite counters and drop lights. The living room, dining room were impressive, with 14′ celings, surrounded by light. Outside find interesting walkways, decks, stone patios, planter boxes, pergola, pond and places to meditate. Two driveways, one for side-entry garage, the other for guests, and a standing seam metal roof were other features.

Burnt Pine in Sandestin is well-located and opens a Burnt Pine homeowner to a world of amenities.  Sandestin is home to shopping at Baytowne Wharf, the beach, pools, tennis, health club, walking trails, and of course, golf.

2132 Pine Valley Dr., Burnt Pine, Miramar Beach FL 32550 – just sold for $530,000, as a high dollar loss short sale.

Sandestin short salesSandestin short salesSandestin short salesSandestin short sales

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy:

Sandestin Short Sales & Pre Foreclosure Help.

Read Wendy’s Sandestin Real Estate Blog