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 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.
Here Are Some Progressive Marketing Techniques You Can Use To Get More Exposure For Your Property:
Create a single property website using a service like Realbird.Com, that allows for you to syndicate your property to 20+ search portals. This great service also integrates with a stats tracking service that gives you the ability to watch visitors to your listing page in real time, giving you valuable insight into how interested internet based buyers are in your property.
Create a video of your property and post it to YouTube. Did you know that You-tube is the second largest search engine in the US? Yep, getting your property onto you-tube and properly title could go a long way toward getting you organic search exposure. And you don’t even need a video camera to create the video! You can use a free service like Animoto to create a video photo slideshow… or a free service like Screenr.Com to give a photo tour of your property as you talk about its better features.
Post Your Property to Craigslist, but do it right! Sure, we know you’ve probably been using craigslist already, but have you been titling your Craigslist posts so they stand out? Or in such a way that you can benefit from the organic search juice craigslist is capable of getting you… Have you been making it possible for visitors to your listing on craigslist to join a list to be notified about upcoming open houses at the property? Why not capture your prospective buyer and engage him/her with some modern follow up!
Run A Locally Targeted Facebook Ad For Your Property. In no time, you can have an ad for your property live and viewable to thousands of Facebook users in your area! You’ve seen those ads on the right side of facebook right? Your property can be there in 15 minutes!
Run a Google Ad-words Campaign For Your Property. You can position your property so it shows up at the top of the page anytime someone uses google to search properties in your area. (For some strange reason, most agents still don’t do this for their individual listings property, so you shouldn't have too much price competition. )
Create A Blog or Facebook Page For Your Property… Get people to subscribe or become a fan in order to learn about how the sale is going! Here’s a link to a service that creates great looking Facebook Pages built for Lead Capture.
Find some local blogs in your area. Comment on them, be sure to use the Website for your single propertypage so when folks see your comments and want to know more about you… they see your property! You can also approach local bloggers and offer them advertising $$$ in return for a banner ad on their site. Many bloggers we know would be thrilled to pick up $20-$50 in return for plugging your property to their readership! You can also try a service like BlogAds.Com to execute this step.
Create a Twitter account for your Property! Then use a great service like Tweetspinner.Com to make your property automatically “follow” other twitterers in your area! Yeah, for real… you can do this!
Google – “Real Estate In” Your Area. Then go to every agent’s website you find and “Friend” him/her.Moving forward be sure to drop a line or 2 about your property to your Facebook profile on a daily basis. Sure, agents will see your property and approach you for your listing… But the best among them will keep your property in the back of their mind in order to do the best possible job for their buyer clients.
Create A Mobile Website For Your Property That Is Accessible Via Text Code. Then email a bunch of renters around town with a quick postcard that offers pictures of your great property via a Text Response. Or you can do something funny like this – “TEXT 4528 To 411669 To See What Your Landlord Is Doing With Your Rent Money Right Now.” When folks enter the text code, you can receive a phone number in Real Time! Then all you have to do is invite your prospects to take a look at your property…
And finally, if you exhausted the options above, and your property still isn’t sold, give me a ring so we can talk about the nifty stuff I haven’t shared with your here!
March 25, 2011
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]