We got this Wells Fargo short sale approval in under seven weeks! It is on a Ponte Vedra Beach condo that had decreased in value to roughly half of it's 2006 purchase price.
Terms of the approved Jacksonville short sale:
- No promissory note
- Wells Fargo agreed to waive all deficiency rights
- Initially Wells Fargo was requiring $5,000 seller contribution or a $12,000 0% interest promissory note to be paid back over ten years. We got the number down to a $2,500 cash contribution.
- All closing costs covered by Wells Fargo.
Seller only missed one payment at the time of the approval, which was not yet 30 days late.
You can see this Jacksonville short sales / Wells Fargo short sale approval letter here.
Are you in a situation where you can no longer afford to keep your home? Have you tried to work things out with the bank to no avail? Call us for an honest evaluation of whether we think we can help you.
