Price: 500,000
4341 HWY 30-A E, #102- A
Santa Rosa Beach
Florida, 32459
3 Bathrooms: 2 baths – Townhouse / Condo
Subdivision: Seagrove Beach
Middle School: Emerald Coast
High School: South Walton

This elegant and detailed designed Village Condominium comes with many amenities including:

• Deeded access to one of the world’s most beautiful beaches.
• 12,000 sq. ft. heated pool with a cascading waterfall and fountain.

This 3 bedroom, 2 bath, poolside condo is set in the tropical setting of Seagrove.

This unit features many upgrades including:

• Tiled living room, kitchen, hall, and baths
• Carpeted bedrooms
• Granite counter tops
• Upscale appliances
• Customized living area.

All measurements are approximate, buyer to verify.

One of these options is called a “short sale”.   However, not all homeowners or all properties qualify for an automatic “short sale”.

A ‘short sale” means that the lender will accept less money than the total amount due on the mortgage note at that time.  If the lender is not completely sure of the hardship then the lender will not accept the “short sale” or any other discounted payoffs.  However, the lender may opt for the foreclosure process instead.

The “short sale” process itself (such as the listing) is agreed between the homeowner and the listing agent ONLY.  After this, the real estate agent begins the negotiations with the lender as a 3rd party and on behalf of the present homeowner.

The lender will request a list of documents (it depends on the actual lender as to what specific documents those will be).  These will be presented to the lender to verify the homeowner has a valid hardship.  If a hardship is demonstrated then the lender may accept the “short sale” as an alternative.

After the lender accepts the “short sale” option they request the current value of the property through a Comparable Market Analysis (done by the real estate agent). The lender will then hire an independent real estate broker to do the same and compare the similarities or differences. Following this process, the lender will also request an exterior and interior inspection by a real estate broker.  The lender will analyze these and order a formal appraisal for the home.

The lender will analyze what their bottom figure will be according to all the items mentioned above and the listing agent together with the title company will put together a HUD-1.  This is the document that reflects the money that the lender will clear after paying the closing cost and all expenses including the real estate commissions.

The lender will have the option to collect their deficit between the money the lender clears and the money the homeowner borrowed when the home was initially purchased.  The lender may give a 1099 to the home owner with the deficit so they can claim it on the taxes or may provide a forgiveness letter as to the difference in the amounts.  Many banks are seeking help from the federal government in order to get credit for these letters.

Our economic times are difficult for us all and we are here to help.

Let’s first identify what a short sale is:

In financial terms, a short sale is the selling of a property that the seller does not own at the time of the sale. The seller contacts their lender who agrees to accept less then the mortgage which is owned on the property at the time of sale and this makes it a “Short sale”.

It is nothing to be ashamed of, or feel stigmatized over. We can help you through this difficult time and we pass no judgments on any one experiencing financial difficulties.

Contact us today: (850) 774-6582 for more information on how we can help you through these tough economic difficulties we are all experiencing.

Our goal is to help you sell your home before it reaches foreclosure.

Our professional, licensed and highly experienced agents are here to assist you in the least amount of time and receive the highest price possible for your home.

For additional information and short sale property searches please visit – Panama City Real Estate – Short Sales or contact us directly (850) 774-6582