Short Sale
Buying a Short Sale home from a short sale seller means a lot of paperwork and documentation requested by sellers lender. Different lender - different requirements.
In a Fort Lauderdale short sale home, Seller must disclose to a prospective buyer that they anticipate a short sale situation. Every short sale seller must inform the Real Estate Professional of any and all liens on their property and any changes which may occur in the future.
With almost every Fort Lauderdale short sale, home owner will need to provide to the lender(s) follow documentation:
- Hardship letter explaining why they can no longer make payments
- Authorization letter for Realtor or professional negotiator to speak with lender
- Financial analysis form
- Financial updates and forms
- Tax returns, pay stubs, bank statements
- Other items may be required by your lender
Please note that a short sale process and a contract for purchase submitted for a short sale approval will not automatically stop a foreclosure sale. Many lenders will proceed with the Foreclosure procedure, and time is of the essence in a short sale procedure. A foreclosure sale may be postponed by the lender upon acceptance of a short sale agreement, but a postponement is not automatic. A foreclosure may be reinstated after a postponement without further notice to the seller.
Seller Notes
Seller is hereby notified that Broker is not qualified to provide financial, legal or tax advice regarding a short sale transaction. Therefore, the Seller is advised to obtain professional tax advice and consult independent legal counsel immediately regarding the tax implications and advisability of entering into a short sale agreement.
Not all Sellers will qualify for a short sale approval!
If you stop paying your mortgage, you could lose your home and damage your credit.
Short Sale Buyer
Even though the seller may have accepted your offer for a Fort Lauderdale Short Sale, the contract is not valid until the lender accepts the offer and gives you a written Short Sale Agreement Notice. You may have been waiting for weeks for an
answer and another offer with better terms may be submitted to the seller and lender.
As a buyer you may continue to look at other properties here, in case your offer will not be accepted by a lender and you may cancel this contract for any reason before it is accepted by the lender, including when you find a property you like better.
READ MORE HERE
Fixing Credit: Avoid This Mistake With Debt Collectors
FLorida – I heard about a guy who got ripped off by a debt collector. The debt collector asked if he could pay them $500. He wanted to do the right thing. So he agreed to pay the $500. The debt collector sent him a form to make the payment thru his checking account. He filled out the form and signed off on it. The debt collector proceeded to completely drain his bank account.
They sucked out $1,800. This caused major financial problems for this guy. He couldn’t afford gas to get to work. The reason that the debt collector was able to get the extra $1,300 was the fine print on the bottom of their form. The moral of the story? Never give any of your financial information to a debt collector or anyone.
If you do settle with a debt collector, only send them a payment where they can’t track you. Use a money order. Money orders keep all of your bank account information private. You can buy one with cash or a debit card. The debt collector will never get your account information.
Never give any of your financial information to a debt collector. Do not send them info on your checking account, savings account, IRA, 401k, or any other financial account you have. Many state and federal laws often give a debt collector permission to take money out of your accounts, with or without your permission.
Unless you are a lawyer, you won’t know if or when they can take money. So you are simply better off never giving them your info. The debt collection company that I mentioned above is based out of Colorado. I don’t remember their name. They tried to collect from another person I know. They were very pushy. They only wanted his checking account info.
They wouldn’t accept any other payment method. It appears they use that tactic on everyone they call. Hope this helps you in your situation. Would you like to discuss your situation with me? You can call e-mail me at [email protected] or call us in Fort Lauderdale at (954) 543-1794.
Our Florida loan modification kit has the instructions you will need to get a loan modification approved. We show you how to prove to your lender that they will make more money by accepting your loan modification versus foreclosing on the house. They’re in the business of making money, right?
That is why this strategy works. Get more info on this strategy and the tools you need for a successful loan modification.
Thanks for reading this, Annett T. Block.
Annett is a real estate agent/ broker at Florida Connects Incorporated.
Fort Lauderdale Phone: (954) 543-1794.
Annett T. Block specializes in loan modification assistance and short sales in Florida. Florida Loan Modification Help, Florida Short Sales.Florida Realtor.
April 06, 2011
What Our Clients Say
Build with 🧡 by Florida Connects
Florida Connects considers the South Florida real estate market as a potential "safe haven" for investors due to its historical market resilience and continued demand. However, it is important for all potential real estate buyer, seller and investors to understand that "safe haven" does not imply a guarantee of investment protection or immunity from losses. Real estate markets can be influenced by a variety of factors including economic shifts, changes in tax laws, and natural events which can affect property values and market dynamics. We advise all potential prospects, customer, clients to conduct thorough due diligence and consider obtaining professional advice tailored to your individual financial circumstances before making any real estate buying, selling or investment decision.
Accessibility
Florida Connects is committed to providing an accessible website. If you have difficulty accessing content, have difficulty viewing a file on the website, or notice any accessibility problems, please contact Florida Connects to specify the nature of the accessibility issue and any assistive technology you use. Florida Connects will strive to provide the content you need …Continue reading
Florida Connects Incorporated
PO Box 480154
Fort Lauderdale, FL 33348
Phone: 954.543.1794
Email: [email protected]
