SHORT SALE - Key Persons
This Elliotts Point home at 118 Ferry Rd., NE, Fort Walton Beach, Florida was approved as a VA Compromise Short Sale. This was not an easy property to sell, even though the short sale approval was easy! The home had multiple active roof leaks and and the roof was covered with tarp and sand bags. The roof design was itself defective. There was aluminum and cloth-covered wiring. The costs to repair the roof and electrical system were about $16,000. The home needed other repairs. The only straightforward way to ensure a buyer could close after short sale approval, was to get a cash buyer. Sure, there are mortgages available for homes that need repair, such as FHA 203K, but they are complex and closing is not guaranteed, especially with a fast time line and closing requirement after short sale approval that is typically 30 days. Since we limited the market for the Fort Walton Beach short sale home to only cash buyers we shrunk the pool of interested parties. Two buyers walked due to their home inspections and one buyer simply "defaulted" and failed to close after short sale approval. The fourth buyer closed. It takes perseverance to accomplish a successful short sale.
Job Titles:
- Broker
- Broker, Rulnick Realty, Inc.
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.