Investor owned Short Sale!
Investors of real estate often get the short end of the stick with lenders, and short sales are no different. Even though investors buy up all the bank's unwanted foreclosures, lenders tend to have a love hate relationship with them.
This short sale in Palencia was an investor owned property that had to be sold or given back the bank. The investor decided to attempt and work with the bank to short sale the property.
As with any short sale, the owner should expect to help pay some of the forgiven amount back via a promissory note or cash at closing. That's just part of short selling today, unless you are truly on your last dime......which very few people are.
Regions Bank is very easy to work with on short sales.
I've had several Regions' short sales this year, and all have been smooth transactions. This was one was no exception.
Thank you in advance for Sharing!
Give us a call at 904-234-5196 if we can help you buy or sell real estate in Jacksonville, FL.
Leave a Comment
Listing information last updated on June 25th, 2019 at 9:23am EDT.