Home Selling in Sarasota>Question Details

Alicea Marti…, Real Estate Pro in Sarasota, FL

Have you heard some lenders are giving up to $30K for distressed homeowners to sell their homes. Just did one where sellers are walking away W/ $20K..

Asked by Alicea Martinez, Sarasota, FL Thu Mar 8, 2012

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Absolutely!

Several of the big banks are offering incentives to sellers to do a short sale rather than a foreclosure. It is better for the banks, and certainly better for the sellers in almost every case.

Ironically, the Florida legislature is about to pass a new law that will eliminate short sales because there won't be time to get them done.

Read about that in my blog:

http://www.trulia.com/blog/jimsweat/2012/02/foreclosure_fast…

All the Best,
Jim Sweat
1 vote Thank Flag Link Thu Mar 8, 2012
yes it is amazing but see it daily
0 votes Thank Flag Link Mon Apr 8, 2013
Hi,

I just did a sale where the buyer also walked away with $20k. By the time all was paid the bank netted about $12k on a loan for $169k. The owners never paid the mortgage, credit card liens, association dues. They basically lived there for free for more than 3 years, and then got $20k to move out and leave the condo in good condition.

Nadine Mauro
Highlight Realty
561-414-0864
NadineSellsHouses@gmail.com
http://www.floridahouseseller.com
0 votes Thank Flag Link Thu Mar 8, 2012
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