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Home Buying in Coral Way : Real Estate Advice

  • All37
  • Local Info4
  • Home Buying15
  • Home Selling0
  • Market Conditions3

Activity 11
Sat Oct 26, 2013
Gladys Colon answered:
Call a Real Estate Agent to find the availability, market info, etc, and to help you with all the proceedings of buying this house.
0 votes 9 answers Share Flag
Sat Aug 17, 2013
Maria Diaz answered:
Rosario, sino has encontrado lo que buscas todavia y quieres contactarme para
que te ayude, puedes hacerlo escribiendo a mi email marilindiaz@gmail.com
o por mensaje de texto al 3056390445
Saludos cordiales y Buena suerte, Maria D Diaz , Coldwell Bankerr
... more
0 votes 6 answers Share Flag
Wed Jun 12, 2013
Ron Thomas answered:
Has anybody noticed that this is TWO YEARS OLD?
1 vote 17 answers Share Flag
Wed Jun 12, 2013
Monica Dabney answered:
Wed Sep 26, 2012
Annette Lawrence answered:
Prior to submitting your offer you agent sat with you and had you SIGN the short sale disclosure form. The form put in writing the same thing your agent said.

Your agent advised you that:
Short sales are the most complex, convoluted process in real estate.
The is only an illusion of rules and anything can and does happen.
70% of short sale offer FAIL.
As the buyer you are the least significant, least influential player in the process.
It can take from 4 weeks to over 2 years.
Short sales are not for everyone.
Only the patient and detached should apply.

Plan for the worst, hope for the best. By the way, with the big investment companies now buying up the distressed and conventional stock, it should be encouraging to know that if they SEE THE VALUE, then your decision to invest the time, patience, energy, and self-control to get your piece of the pie is the right decision at the right time.

Be patient. Hand in there as long as iit takes. Have a Plan B.

Best of success to you,
Annette Lawrence, Broker/Assocate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
... more
0 votes 6 answers Share Flag
Sun Mar 27, 2011
George answered:
Hi! my name is George, I'd like to sell my condo owner to owner, the property is located on Brickell Ave,Miami.
the building was built on 2008, if you're interested contact me at 786-231-7663 probably we can make some bussines. ... more
0 votes 15 answers Share Flag
Tue Feb 15, 2011
John Walin answered:
Sad to say, many short sale sellers are gaming the system to live there for free while they are falsely compliant with the bank procedures and hurdles. The attempt at loan mod also is a possibility that stalls foreclosure, and did I mention they get to live there free??? It is too hard to plan a move for your family and coordinate a move out/move in with a short sale is impossible. Also the short amount/deficiency could be at issue here too and the seller attorney is working the bank over to get a zero deficiency judgment against the seller. Bank owned REO's are the way to buy, skip the short sale homes, 80% end up foreclosed anyway. Focus on already foreclosed homes in your price range and targeted community. ... more
0 votes 11 answers Share Flag
Wed Oct 13, 2010
Tammy Hayes answered:
Short Sales A short sale describes the sale of a property by a financially insolvent homeowner who is facing foreclosure for less than the value of the outstanding loan. If a homeowner is interested in pursuing a short sale with their lender they will need to have the lender's consent and approval.
• Lender's consent and approval required.
• The lender accepts the sale as payment in full for the loan.
• The property owner escapes foreclosure, but receives no funds from the sale
• There can be no equity in the property
• Seller cannot bring money to the closing.
• Lender does not report foreclosure to the credit bureaus.
The lender will require various documentation. The incentive for the lender is to remove the account from their books before the loan becomes a problem. It can also cost a lender $25,000 to as much as $50,000 in order to send the property through the foreclosure process. Technical requirements for a short sale: (May differ from lender to lender)
• Owner must demonstrate hardship/financial insolvency (i.e. loss of employment, illness, divorce, catastrophic illness, death of a spouse).
• Seller must prepare a hardship letter asking lender to accept short sale.
Documentation that may be required by lender to determine if owner qualifies for a short sale.
• Listing agreement with Realtor showing the property is on the market for sale.
• Comparable market analysis which includes sales and listings
• Bank statements
• Pay stubs
• Tax returns
• Purchase/Sale Agreement
There are drawbacks to the short sale.
• A deficiency balance could be charged off which could result in negative credit bureau reporting.
• If the cancelled portion of debt exceeds a certain amount, the homeowner is required to report the forgiven amount as income on his or her tax return.
As always, any property owner should seek legal and financial advice before entering into this type of transaction.
If you would like more information on Short Sales, please contact me.
Tammy Hayes, Realtor, Sandals Realty, 941-276-6185 tammyhayesre@gmail.com
... more
0 votes 6 answers Share Flag
Tue Oct 5, 2010
Steven Epstein, P.A. answered:
Are you buying or selling? And what can you afford to buy or sell at? The market determines price, not the seller, agent or buyer .. this is what's referred to as an "arm';s length" transaction. Make sense? Need more help call me at 786-581-1476, thanks, Steve E ... more
0 votes 5 answers Share Flag
Tue Oct 5, 2010
Steven Epstein, P.A. answered:
YOU CAN ONLY BUY CASH, the property for whatever reason (or Seller) is NOT entertaining any financed offers.
0 votes 8 answers Share Flag
Tue Oct 5, 2010
Steven Epstein, P.A. answered:
Tell me more .... specifically what did you see & where dod you see it to?
0 votes 3 answers Share Flag
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