Another Successful Bank of America Short Sale in Jacksonville FL

2 Loans on this one:  1st Bank of America, 2nd Regions Bank

I do not like selling homes with Tenants in the property.  I almost always require that they move out before listing, but occasionally I have to bend a little.

The main reasons I dislike Tenants occupying a home when  short selling:

  • Short sales are difficult & add an additional party into the transaction, one that has no tie to making the sale work, and the difficulty just multiplied.
  • Showings are inconvenient for anyone living in the house.  Tenants do not like being inconvenienced.
  • Houses must maintain model like appearance when selling......remember, your house is in a competition with ALL the other houses on the market.  Tenants typically do not keep the home in this condition.
  • Tenants have a legal, binding lease that almost always remains intact despite who owns the property.  (unless they are month to month or you put a "sale clause" in the lease).

This home was one of those exceptions.  The tenant kept the home in a pristine condition from day 1, always accommodated every showing even at odd hours, and moved out quickly when the time came.  All of this was due to the sellers setting the proper expectations with the tenants on the front end.  Hats off to the sellers!

Side note:  Wolf Creek Townhomes and Wolf Creek Condos. You just can't beat this location on Beach and Hodges.  The prices are in the $80's to low $100's.  They are solid built by Pulte Homes.  Community is gated with a pool and clubhouse.  I was a sales agent and sales manager for Pulte when they were building these, and they were a hot deal then, but now they are a slam dunk!

Posted by Brad Officer on
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