Gloria listed this property in Montoya Estates in the Montoya Circle neighborhood in Boca Raton. It is a three bedroom home with a garage which was converted to a fourth bedroom. It is in a great location walking distance to Boca Raton Synagogue. The house just sold for $245,000 in a short sale. Although the seller purchased the house in 1993 for $118,000, they had refinanced when values were higher and subsequently were upside down on their mortgage and had to seek bank approval to sell their home for less than the current mortgage balance. These happy buyers got a gem of a deal for Boca Raton real estate in a fantastic location!
This Boca Raton short sale took five months from the time the short sale package was submitted to the bank to the short sale approval date. Short sales require a lot of patience as they do take generally from three to six months to obtain approval, but it is possible to get a great property at a great price.