Short Sales & Foreclosures 

 

Denise Stegner-Realtor

850.865.9301  denise@destin.org

Bank owned/REO Foreclosure active listings at Waterscape.

None Available

inquire to denise@destin.org 
 
A429  SOLD  2br/2.5ba w/bunks 1,292sf  -foreclosure
A603  SOLD  2br/2.5ba w/bunks 1,292sf  -foreclosure
A421  SOLD  2br/2.5ba w/bunks 1,292sf  -foreclosure
A628- SOLD   1br/2ba w/bunks      864sf  -foreclosure

inquire to denise@destin.org

 

SHORT SALE LISTINGS:

A119 - $289,000  2br/2ba w/ bunks 1,292sf - short sale

 

SOLD Waterscape Short Sale listings:

 

B318- SOLD   1br/2ba 829sf

B518- SOLD   1br/2ba 829sf

A222- SOLD   1br/2ba w/bunks 864sf
A418 -SOLD   1br/2ba w/bunks 864sf

A422- SOLD   1br/2ba w/bunks 864sf

B424- SOLD  1br2ba-829sf 

A526- SOLD   1br/2ba w/bunks 864sf

A630- SOLD   1br/2ba w/bunks 864sf

C203- SOLD  2br/2ba w/bunks 1,200 sf  

C204- SOLD  2br/2ba w/bunks 1,200 sf

C305- SOLD  2br/2ba w/bunks 1,200 sf

C405- SOLD  2br/2ba w/bunks 1,200 sf

C603- SOLD  2br/2ba w/bunks 1,200 sf
A117  SOLD  2br/2.5ba w/bunks 1,292sf 
A133  SOLD  2br/2.5ba w/bunks 1,292sf 

A219  SOLD  2br/2.5ba w/bunks 1,292sf 

A225  SOLD  2br/2.5ba w/bunks 1,292sf

A407  SOLD  2br/2.5ba w/bunks 1,292sf  

A504  SOLD  2br/2.5ba w/bunks 1,292sf

A529  SOLD  2br/2.5ba w/bunks 1,292sf 

A513  SOLD  2br/2.5ba w/bunks 1,292sf

B510  SOLD  2br/2.5ba w/bunks 1,292sf  

B212  SOLD  2br/2.5ba w/bunks 1,292sf  

B607  SOLD  2br/2.5ba w/bunks 1,292sf  

A429  SOLD  2br/2.5ba w/bunks 1,292sf  
A514  SOLD  2br/2.5ba w/bunks 1,292sf  
B410  SOLD  2br/2.5ba w/bunks 1,292sf  

A517  SOLD  2br/2.5ba w/bunks 1,292sf  

B500-  SOLD - 3br/3.5ba w/bunks 1,520sf 


 

denise@destin.org









 









OTHER AREA Beach Condo SHORT SALE Values!



 



 


contact: denise@destin.org



 



 

Have a Distressed Property? Let me help you.


 

I am a Certified Distressed Property Expert (CPDE) realtor with knowledge of how to list and sell short sale properties. Please let me assist you in a Waterscape or other area Short Sale sale or purchase.



 

There are a few units at Waterscape that are in "Short Sale Status" and are currently listed as "short sales". A short sale is defined in detail further below on this page, however, in short, it is when the owner owes his lender more than the value of the property and the mortgage holder (lender) must agree to allow the seller to sell the property for less than (short) the mortgage balance.  Any contract will be subject to lender approval and generally takes 3-6 months to close and some longer.  As a buyer, you must provide proof of funds, or a preapproval letter at time of contract. Most units are sold 'as is' with right to inspect. It is expected that buyers will have patience while waiting for lender approval.


 

There are currently no foreclosures listed at Waterscape.


Please contact me directly for details on specific units shown below or for other area short sale or foreclosure listings.



 

CONTACT:


DENISE STEGNER-Lic, Realtor-CDPE, ALHS, GRI, RSS, GREEN


Certified Distressed Property Expert


at 850.865.9301 on cell


 

or email me at denise@destin.org


for details on these Waterscape short sale opportunities.















-

What is a CDPE?

A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.

 

The prospect of foreclosure can be financially and emotionally devastating, and often condo-owners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help owners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help owners avoid foreclosure through the efficient execution of a short sale.

 

While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs.

 

CDPEs don’t merely assist in selling properties, they serve and help save clients in need.

 

What is a Short Sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

  • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

 

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

 

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

 

This seems simple enough, but it is a complicated process that takes the expertise of an experienced professional. Together, we can identify all possible options and, when possible, as a CDPE, I can assist you in the quick execution of a short sale transaction.

Florida Foreclosure Law SummaryFlorida Foreclosure Law Summary

Stop Florida Foreclosure

Florida Foreclosure Law - Stop Florida Foreclosure

Quick Facts

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: No

-  Primary Security Instruments: Mortgage

-  Timeline: Typically 180 days

-  Right of Redemption: Yes

-  Deficiency Judgments Allowed: Yes

 

In Florida, all mortgages are foreclosed in equity. In a mortgage foreclosure action, the court severs, for separate trial, all counterclaims against the foreclosing lender. The foreclosure claim shall, if tried, be tried to the court without a jury.

The court order of foreclosure will specify how the foreclosure must take place, and the foreclosure must take place on those terms. Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is the responsibility of the lender or their representative to place such advertisement, publication, or notice.

 

Equitable Right of Redemption ends at the foreclosure sale (or at another time specified by the courts, but this rarely happens). There is a period of time after the sale that "the court reviews the sale to ensure a fair price has been paid."  Basically, this period of time allows parties to object to the sale on the basis that proper procedures were not followed or collusion existed between the bidders, for example.  This period is usually 10 days, after which the Certificate of Sale is filed and title passes, if the sale is confirmed.  If the sale is not confirmed, another sale is ordered.  (Reference F.S. Chapter 702)

The lender may sue to obtain a deficiency judgment in Florida.

More information on Florida foreclosure laws.

Foreclosure Avoidance Options

Foreclosure is one of the most devastating financial challenges that an owner can face and one that many times can be avoided. The options available to residents for foreclosure are many, including but not limited to short sales. Following is a brief explanation of these solutions:

Reinstatement

A reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The owner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale.

Forbearance or Repayment Plan

A forbearance or repayment plan involves the owner negotiating with the mortgage company to allow them to repay back payments over a period of time. The owner typically makes their current mortgage payment in addition to a portion of the back payments they owe.

Mortgage Modification

A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically result in a lower payment to the owner and a more affordable mortgage.

Rent the Property

An owner who has a mortgage payment low enough that market rent will allow it to be paid, can convert their property to a rental and use the rental income to pay the mortgage.

Deed in Lieu of Foreclosure

Also known as a 'friendly foreclosure,' a deed in lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process. Lender approval is required for this option, and the owner must also vacate the property.

Bankruptcy

Many have considered and marketed bankruptcy as a 'foreclosure solution,' but this is only true in some states and situations. If the owner has non-mortgage debts that cause a shortfall of paying their mortgage payments and a personal bankruptcy will eliminate these debts, this may be a viable solution.

Refinance

If an owner has sufficient equity in their property and their credit is still in good standing, they may be able to refinance their mortgage.

Servicemembers Civil Relief Act (military personnel only)

If a member of the military is experiencing financial distress due to deployment, and that person can show that their debt was entered into prior to deployment, they may qualify for relief under the Servicemembers Civil Relief Act. The American Bar Association has a network of attorneys that will work with servicemembers in relation to qualifying for this relief.

Sell the Property

Homeowners with sufficient equity can list their property with  me as a qualified agent that understands the foreclosure process in the area.

Short Sale

If an owner owes more on their property than it is currently worth, then they can hire me as a qualified real estate agent to market and sell the property through the negotiation of a short sale with their lender. This typically requires the property to be on the market and the owner must have a financial hardship to qualify. Hardship can be simply defined as a material change in the financial stability of the homeowner between the date of the home purchase and the date of the short sale negotiation. Acceptable hardships include but are not limited to: mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation, and more.

This represents only a summary of some of the solutions available to homeowners facing foreclosure. Let me assist you in the evaluation of your individual situation, property value, and possible options.

Understanding your options now could mean all the difference in the world.

As a CDPE, I can help.

Please contact me at denise@destin.org or on cell at 850.865.9301.