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
Lauderdale By The Sea History
Want to know what Lauderdale by the Sea History is and what it has to offer?
Annett T. Block here with Florida Connects in our Lauderdale by the Sea Community bringing you some History.
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Today I am here in front of our Lauderdale by the Sea Town Hall which was built in 1958 with no money or very little money available.
But we don’t only have a Town Hall but to my left, we have Jarvis Hall, but also behind Jarvis Hall, we do have our Police Department, Fire Department, and our Emergency Service Department.
Lauderdale by the Sea was founded in 1924 by Mr. William Morey and it went bankrupt in 1933.
In 1947 Mr. Glenn Fried Sr. reinstated the city charter and our first major was Mr. Melvin Anglin. And those are names you are hear floating around in our city and will hear very often.
But today here at our townhall there are very, very important decisions are made. And one of the important decisions made that was made that no one can build over 33 feet.
When you are driving around town you will notice we don’t have too many high story buildings and nobody can build over 33 feet, they once that di have been grandfathered in but new buildings will stay under 33 feet. This decision was made to assure our lifestyle and quality of life.
Lauderdale by the Sea is very easily accessed, we have public access to the ocean, we have a playground, we have a basketball court, we have tennis courts and our Glenn Fried Park which are all public access.
We also have bars and restaurants; we have little shops and family business and we all make sure to support our small community with our small businesses.
Lauderdale by the Sea is just the place to be, the place to live and we love it here, we work here and we live here.
Please share this video if you like it and share our beautiful city which is a little piece of paradise here on earth.
Thank you for watching this video, Dankeschoen and Auf Wiedersehen!
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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.
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PO Box 480154
Fort Lauderdale, FL 33348
Phone: 954.543.1794
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