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Asked by Priscilla Stropnik, Bonita Springs, FL Tue Jan 27, 2009

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Bill Eckler, Agent, Venice, FL
Wed Jan 28, 2009
You can find comfort in the fact that you do have options. Important to note is that today's serious buyers are looking for deals. If your home does not look, feel, or taste like a deal, the prospects of selling it are minimal.

With this said, a short sale is a very real consideration. Our suggestion is to first be in touch with your lender to provide them with the details of your personal finalcial hardship befor contacting a local real estate professional that can work with you through the process.

We refer our sellers in similar situation to real estate attorneys that input. It may cost you a couple hundred dollars but the benefit of legal advice is generally well worth it.

Good luck
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Scott Riddle, Agent, Naples, FL
Wed Jan 28, 2009
Sorry it took me a few to get back to you, but I would be happy to sit down with you and go over your options. I am a CSP agent (certified short sale professional) and have over 20 short sale lists (5 are under contract right now). You have received some great advise below and you are on the right track, but you are in need of a great listing agent that knows how to work a short sale. I have set up a team that will handle the hard part of the short sale, the negotiation. I have teamed up with a lawyer and all he does is negotiate short sales and there is no fee to you up front, he charges his fee on the back side so the lender pays it. If you would like to sit down and talk feel free to contact me at anytime.


Scott Riddle, (CSP) Certified Short Sale Professional
Sand Castle Realty Group
239-390-0027 fax
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Tom Teece, , Lehigh Acres, FL
Tue Jan 27, 2009
Hi Pstropnik,

Just as a background, I buy pre-forclosures (short sales) in Lehigh Acres. I agree with the other answers in that you should seek a good listing agent to work with. Based on their CMA (Competitive Market Analysis) report back to you, you'll understand your options better.

If your house can be listed on the MLS as the nicest, yet lowest priced house in the immediate area, you will sell before your neighbors. But, if there are many foreclosed properties nearby, chances are your sale price will not cover your mortgage balance. And immediately, we all start thinking about a short sale.

A short sale may not be an option for you without a documentable involuntary decrease in income and/or an unavoidable increase in expenses. Having a third-party, acceptable to the lender, verify this is extremely valuable. Fortunately, HUD-approved housing counselors can do just that at little to no cost for you. And you don't have to be behind on payments to receive their service. Call 1-888-995-HOPE or counsel online. (in English or Espanol)

Even if you qualify for a hardship with the lender, the lender must approve the short sale buyer's offer price before the sale can close. For best results, find a realtor who works with an investor that buys short sales in your area. Once the lender approves your hardship documentation and receives the buyer's offer, they will order a "BPO" appraisal and begin negotiating to minimize their losses. Again, for best results, work with a realtor who uses a trained, full-time professional negotiator for dealing with the lender.

Don't be discouraged. You are on the right track by seeking legal alternatives to foreclosure. Just be aware that a short sale is not the blanket answer for everyone. Good luck.

Best regards, Tom
Web Reference:
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Marc Comisar, Agent, Bonita Springs, FL
Tue Jan 27, 2009
unless you can come to the table with cash to close than a short sale or loan remod may be your only option. Contact us about what we can do for you. We are located right in the heart of Bonita.
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Nathan Lacor…, Agent, Naples, FL
Tue Jan 27, 2009
It is not a good time to list anything for sale. Short sale is your primary option at this stage, and since it is your primary residence you can avoid a few obstacles that come with short selling. I have short sold a few of my own properties and assisted multiple clients through the process in Bonita Springs and Naples. Give me a call and I can give you the run down on how it works and what to expect.

Southwest Florida has been my home for the last 26 years. My life has been spent entrenched in construction and real estate since 1983. I also have a bachelors degree in Finance & Real Estate. Please allow a professional expert in Southwest Florida Real Estate help you today!

Nathan LaCorte
Main: 239-872-3928
Toll#: 800-590-6856
Fax: 239-390-0027
Sand Castle Realty
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Mark Washburn, Agent, Cape Coral, FL
Tue Jan 27, 2009
The market conditions in Bonita are not favorable for end-user sellers that purchased at the height of the market frenzy in 2005. You will be competing with a significant inventory of bank-owned homes that are priced significantly below what you owe.

A short sale might be an option for you. A good first step would be to contact your lender and discuss your situation.
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Edith Karoli…, Agent, Winnetka, IL
Tue Jan 27, 2009
As you know home prices are going down in if not all areas of the US but in most, some are somewhat stable at this time and others have lost a lot of their original value through the last year...
In order to answer your question well, you need to connect with an experienced, long time Realtor of the Bonita Springs area, he needs to have all the detailed information about your property and then compare not only to the properties similar to yours that have recently sold, but also to the ones currently on the market and put it all together with the market trend in the area itself and the condition, curb appeal and location of your property.

If in an area a lot of foreclosed properties are on the market the sale prices are pulled down usually......

If you like I can connect you with an experienced area Realtor who will discuss your situation and your property and the area market in detail with you. Now more than ever will you need to work with a trusted Real Estate Agent for advice.
Let me know if I can help with a recommendation of a Realtor Colleague in your area...
Good Luck to you!
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