10 Jan WAC Advises Client in Negotiations for Short Sale on a Luxury Property in Fairfield County, CT
January 10, 2017
Worth Avenue Capital, LLC is pleased to announce that it acted as an outside adviser/consultant in negotiations that resulted in a successfully closed short sale on a high end property for one of its clients. WAC was retained by the client to assist the client’s attorney with negotiating a short sale with a very large commercial bank on a luxury property in Fairfield County, Connecticut. The bank had already begun foreclosure proceedings on the property to collect the debt but agreed to suspend the proceedings and instead agree to accept an offer with a discount to the principal balance to purchase the property by an outside buyer who was secured by the client’s realtor. The bank accepted the short sale with its corresponding six figure short fall thus avoiding a lengthy and very costly foreclosure process for both parties.