Posts Tagged ‘sale’
Real Estate Short Sale Law Seminar Recording Released
Real Estate Short Sale Law Seminar Recording Released
Southwest Florida real estate attorney Jason W. Holtz’s recent live webinar on short sale legal issues is now available to the public as an interactive leaning video. Third in the Tell Me Something I Don’t Know short sale webinar series, What About Promissory Notes and Deficiency Judgments With My Short Sale? can be accessed at AskZenRealEstate.com and LuxuryLifestyleHomes.com.
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Posted in Jacksonville Florida Real Estate | 
Tags: estate, real, Recording, Released, sale, seminar, Short | 
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A Successful Short Sale Package Should Have What?
Lender Cover / Intro Letter This is basically an introduction and index of all items in a complete short sale package. A check list if you will… When we do our extensive follow up we ensure the lender has every item on this check list to ensure they have a full short sale package to make a timely decision. Executed Contract w/addendum(s) This is the agreement between buyer and seller. This is the executed contract with all necessary addenda. This is the only contract to be submitted to the lender for short sale (unless otherwise requested from the lender). All other offers / contracts after this will be held as backups. If multiple offers are presented at one, we consult with sellers and choose one (the strongest one) in which we expect to close on their Southwest Florida property. Buyers proof of funds /or qualification for financing This show us (Broker and Seller) as well as the seller’s lender we have a qualified purchaser for this short sale property. We also follow up with the buyer’s lender (if financing) to ensure they are qualified for this purchase. Authorization to Release information This is submitted right away once we have the paperwork to list and sell the property. This is also sent with the full package which allows us to speak and negotiate direct with the bank on behalf of the borrower. Borrower Financial Statement This is where the seller will list all their assets and liabilities. It will give an clear idea to the bank of their financial hardship, etc.Listing Contract This is the contract between Seller and Broker (ie – Maxim Realtors, LLC / Short Sale division – Fort Myers, Lehigh Acres, Cape Coral, Naples, Bonita, Estero) MLS report and property history This is the report off of the Multiple Listing System showing the short sale property for sale in Southwest Florida as well as how long it has been on the market, price reductions, etc.Borrower last two pay stub / or explanation This shows all the seller’s income. If there is no income, explain otherwise – ie – unemployed, social security, etc.Borrower 2 months bank statement /or explanation This will show all the debits and credits of all of their bank accounts which should coincide with what is stated on the financial statement. Prior 2 year tax returns / or explanation This is self explanatory -Hardship Letter There should be a reason for your short sale. This is where the seller wants to state everything that is working against them to keep this property. Keep in mind, this could be as simple as the rents are lower in the complex and the property is negative cash flow every month. It can be as severe as death, loss of job, etc. Get detailed. Support your story. We suggest this to be handwritten.Our own BPO / Updated Appraisal As a real estate professional located in Fort Myers, Fl, it is imperative that I know my market in order to sell short sales correctly. This is my own “Broker’s Price Opinion” that I provide to ensure that our contract price reflects market value. I suggest to all seller’s if they have the money to order a professional appraisal to show the lender an unbiased valuation. They will still order an appraisal or BPO regardless – However this will help the bank in making a decision quicker. Estimated HUD from title company This is the settlement statement which will help indicate to the bank all costs associated with the short sale including any liens. This is prepared at no cost to our seller’s by a professional title company.
Steve Daria is a the broker / owner of Maxim Realtors, LLC, specializing in helping clients stop foreclosure in Fort Myers, FL.
Canada Foreclosure Listings – $47-$297 per sale, 50% Comm + Recurs!!!
Foreclosure Listings Membership Site. Trial offer, high conversions!!! Targetted to Ontario and British Columbia. $7 Cad, 7 day trial – rebills at $47 / mo. $197 (6 mos) and $297 (annual) upsells. Huge 50% Commissions! and Recurring!
Canada Foreclosure Listings – $47-$297 per sale, 50% Comm + Recurs!!!
Posted in Florida Foreclosures |
Tags: $47$297, Canada, Comm, foreclosure, Listings, Recurs, sale |
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Housing – A Long Road to Recovery. Short Sale an Option For Many
Please note – We are not trying to bring down the public or persuade individuals that a short sale is their only way out. However, I think it is important for many to know that some options will not work and sometime government entities should just not be relied on. It is on the public to seek out education and the right professionals to assist them. It is survival and figuring out the best options for you and your family. I have many friends, associates and others that have contacted us about information on short sales in South Florida as kind of a last resort before foreclosure… I encourage many to try and renegotiate the loan(s) that they have to see if they can come up with a more affordable scenario even if it is a rental property to a break even scenario. Unfortunately these individuals are coming back 60-90 days later and exercising their right of a potential short sale due to a denial of a modification. Here are some quick quotes from the article out by Bloomberg by Fannie Mae CEO (Michael Williams) – September 9, 2009 (Source – Bloomberg.
Full Bloomberg article:http://www.bloomberg.com I am sometimes at a loss for words. I think we are headed into a long period of downturn even with media talking about “Housing market stabilizing” and “House pricing increasing” -What they do not say in big print is home prices have increased due to an acute period of time for a high demand of real estate in particular areas. And yes people are buying – And there are buying frenzies in Southwest Florida foreclosures and short sales. However, I expect we will see more abundant foreclosures and short sales especially in South Florida.
Steve Daria is a the broker / owner of Maxim Realtors, LLC, specializing in helping clients through the short sales process in Fort Myers, FL.
Posted in Florida Short Sale |
Tags: housing, long, many, option, Recovery, road, sale, Short |
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