Category Archives: how to purchase a house

fort lauderdale real estate florida

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Searching for Fort Lauderdale real estate… check out the Tides at Bridgeside Square

One of Fort Lauderdale Florida most desired buildings due to its great location and views.

Located right across the street from four waterfront restaurants, the location is ideal for a both fulltime residents and people who just want a place to stay when they visit Ft Lauderdale escaping the cold winter. This Ft Lauderdale Condo at The Tides at Bridgeside Square sold prior to the peak of the market for $376,500 and now after a $150,000 renovation is priced at just $369,000. With top of the line finishes throughout this two bedroom condo features two brand new bathrooms, and an open extended kitchen that belongs in the finest of homes.

Buyers looking for Fort Lauderdale real estate who are seeking to avoid the agonizing process of attempting to purchase a Fort Lauderdale Short Sale. Buyers who understand that very often Fort Lauderdale Foreclosures are neglected properties, which are more ideal for someone seeking to do a gut renovation, can come to this Fort Lauderdale condo ready to move in. As the cost of doing a renovation, in addition to the price of the condominium today starts to rise, this Tides at Bridgeside Square Condo will certainly be viewed as a bargain.

What is a Real Estate Short Sale?

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What is a Real Estate Short Sale?

A real estate short sale is when the your mortgage bank/servicer’s investor has agreed to take less than what is owed.

A short sale is a foreclosure alternative.

The Short Sale Guide will take you through the steps of a short sale. Great for Realtor & Homeowners…You’ll learn how to prepare for a short sale and what steps to take to apply for a HAFA short sale the government short sale. In the guide, you will find insider tips on how to save time throughout short sale process.

Learn what to expect from the bank.

HAFA

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Do you know what a HAFA short sale is?

Our FREE Short Sale Guide will teach you how to help you clients utilize the HAFA short sale program (government short sale). It will show you how to help your client apply and what steps to take to close with no  deficiency judgments or cash contributions.

Learn how to obtain full real estate commissions and relocation money for you client.

All this and more in our Free Short Sale Guide. Visit www.whatisashortsale.org to learn more.

Click the download button below for your free copy of the guide

dowload the free short sale guide

 

Wheres the realtor Professionalism

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Or at least what has happened to the way we treat each other, and our clients. Today I am a bit sad and questioning my profession a bit, even though I know in my heart that I am real good at what I do and will be fine and full of vigor tomorrow.

I am sad for my client who has fallen victim to a selling agent that is being fed foreclosurers by banks who are failing to notice that in my opinion a huge number are selling to her own clients.

Fort Lauderdale Condos 

My client lives next door to this home, he is renting and wanted to buy the home next door. We attempted over and over again to contact the bank that owned the property. For months we got nowhere.

When the agents sign went up in the window we immediately called. For weeks we were unable to find it in the MLS. We were told that the foreclosure had been pulled back by the bank and they were waiting an update. They took my number, but never called me back.

The property appeared on the MLS. My client and I were there on day one, over three weeks ago and wrote the offer, with an escrow check and a preapproval letter. It was downloaded into her online order system, we received confirmation, and that was the last we heard.

We were told they take no phone calls, we also know from experience they do not answer emails, simply go online and check. Well as of this minute it reads “submitted waiting response”, the same thing it has read for three weeks.

This morning I requested another showing via her online system, it confirmed and gave me the lockbox code. My initial plan of the day was to speak to my client about raising the offer far above asking price. The code to enter the property was wrong. Within an hour my client called that he was sitting in his home watching the home next door be inspected, he had just met the buyer.

The property is still active on our MLS, her website shows 180 active listings even though the MLS shows only 40, our offer is still “submitted waiting responce”.

I am not sad about the deal I have lost, I think my buyer will stick with me. I am sad that some Realtors have lost touch with professionalism so much that they can’t even contact an agent back. If she had a higher offer simply, say so. I am suspect on never receiving the “highest and best” request. Fort Lauderdale Real Estate

At this point I have asked the agent to call me by Monday afternoon, at that point I may approach the board of Realtors, I am finding this entire situation embarrassing for all parties concerned.

Any thoughts. …?

  

Eric Miller

Broker Associate

Keller Williams Realty Professionals

(954) 383-8170

visit us on the web at www.FTLRealEstate.com and www.FortLauderdaleGroup.com

 

Title Insurance Quote

Fort lauderdale Real Estate News

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Selling a Florida Condo – It’s different than Selling a Single Family Home

When you are thinking about selling a condominium one of the first things to think about are some of the differences involved in selling a condominium compared to selling a single family home. Many Realtor will tell you “sign calls” are a valuable source of finding buyers for a property. When it comes to most condominiums this valuable source of buyers disappears. So now it becomes even more important to listen to your Realtor marketing plan for your property and especially their plan for attracting buyers.

Fort Lauderdale Real Estate News

When selling a condominium there are two things that are being sold. The buyer must be sold on the building or condominium association as well as the individual condominium. Make sure you and your realtor have all the association facts ready to go.  A buyer who receives quick and accurate answers to all their questions is a buyer who feels secure about making a decision. An original brochure from the community can be very helpful, newsletters, and recent condominium announcements will also help a buyer feel secure.

Condominium association rules and regulations are an important part of the process. Bringing a buyer with pets to a community that has pet restrictions is not in anyone’s best interest. Knowing the rules and regulations and having them available for your Realtor will help your Realtor promote the condominium to buyers who want rules and regulations consistent with the property you are looking to sell. The more information you provide the easier it will be to make sure that the people viewing your home are the ‘ready, willing and able” buyers for your condominium unit.

Florida Title Company

Short Sale opportunities

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‘Short Sale’ Opportunities Could Grow In Wake Of Flawed Foreclosure Paperwork

WEST PALM BEACH, FL (Oct. 14, 2010) – Foreclosure paperwork mishandling by lenders and their legal representatives could provide an opening for individuals attempting to “short sale” their properties, Realtor and real estate mediator Deidre Newton says.

“Attorney Generals and consumer groups are questioning whether lenders have filed, based on overwhelming volume, insufficient or illegal paperwork against property owners who have fallen behind in their mortgage payments,” Newton says. “The challenges in the courts may result in a significant delay of foreclosure cases for several months, if not longer.”

But for those individuals making payments but having a hard time selling their property because their mortgage has become higher than the value of their home, the foreclosure paperwork fiasco could be beneficial, Newton said.

“The foreclosure paperwork mess might create added leverage for ‘underwater’ home owners,” said Newton, founder of the Real Estate Negotiation School, www.renegotiationschool.com.

“Lending institutions might be more willing to negotiate the sale of such properties to move them off their books,’” Newton said. “While short sales are not optimal for lenders, they might see them as a pragmatic way of keeping people from abandoning their homes and creating a greater devaluation of properties and blighting of neighborhoods.”

A frequent contributor to media reports on the real estate scene, Newton is participating in a series of “Florida Housing Help” workshops sponsored by the state Department of Financial Services, http://www.myfloridacfo.com/Consumers/OutReach/FLHousingHelp.asp.

The next workshop is this Saturday, Oct. 16, 10 a.m. to 4 p.m. at the City of Lauderhill City Hall, 5581 W. Oakland Park Blvd.

Newton will also be holding a seminar called “Short Circuit the Short Sales” from 9-11 a.m. next Wednesday, Oct. 20, with members of the Jupiter-Tequesta-Hobe Sound Association of Realtors, 901 W. Indiantown Rd # 18, in Jupiter.

(For additional information, contact Newton directly at (561) 685-0386 or isellwpb@aol.com)

Short Sale Processing

struggling to make payments in Florida

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Like the rest of Florida residents, a good portion has been struggling with high mortgage debt on undervalued properties.

It’s important to know “you have options’

1. Get a free credit card debt analysis at Credit Card Debt Reduction they will provide you with a program that can have youout of credit card debt in a little as 9 months

2. If your home is in any stage of foreclsoure you should highly consider a short sale as it is a much better option and wiull help save your credit for futire purchases go to What is a short sale and learn.

3. Are you current on your mortgage but cannot refinance due to your homes value try and short pay refinance, believe it or not there are some loan servicing companies that willtake less than what you know. find out more here: Short Pay Refinance

4. Have to sell and quick got to Sell First Realty at Homes for sale in Boca Raton Florida

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homes for sale in boca raton florida

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Whether you are buying a beach front estate or selling a condominium  in Boca Raton Florida you need a Real Estate Agent to assist you.

 

However, you should consider to be assisted by our Agents at SellFirst Realty.

 

We provide state-of-the-art technological support and marketing innovations.

 

Visit Homes For Sale in Boca Raton Florida

 

 Plus, our nationwide title and mortgage network allow us to offer a one stop client friendly service.�

FHA Short Sales…get Paid to move out!

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FHA Short Sales…Get Paid to Move out!

The U.S. Housing and Urban Development (HUD) is helping borrower (s) move from their home with a program called Pre-Foreclosure Sale (PFS Program). This program allows borrowers who have fallen short on their payments and are now in pre-foreclosure sell their homes short of what they owe.

Basically, how the program works is if you meet certain criteria set forth by HUD…HUD will perform a new appraisal of your home and accept roughly 88% of the current homes value satisfying he old mortgage note.

Key Factors are:

• Borrowers/Sellers will receive cash incentive of up to $1,000
• The Mortgagee (your lender) or HUD will not pursue the borrower for a deficiency judgment
• Borrowers/Sellers must professionally & actively market property for up to 3 months which will delay any foreclosure proceedings.
• Must have a marketable title, title search must be performed and all liens should be cleared/discharged prior to closing
• Borrower can be current at time of submission but must be delinquent by at least 30 days prior to the closing
• Property values are determined by an FHA certified appraiser, using a “as-is” Fair Market Value (FMV)
• Mortgagor/Sellers must maintain property in “ready to show” condition
• Mortgagee/ lender must respond within 5 working days from receipt of the executed contract

Eligibility:
• The property must be owner-occupied, no “walk-a ways” or investment properties. Exceptions: when it is verifiable that the need to vacate was related to the cause of default (job loss, transfer, divorce, death), and the subject property was not purchased as rental investment, or used as a rental for more than 18months.

• The Mortgagor must be 31 days or more delinquent at the time of the Pre-foreclosure Sale closing.

• The Mortgagor must provide documentation substantiating a reduction in income or an increase in living expense, and documentation that verifies the Mortgagors need to vacate the property (if applicable).

For more information call 1-877-427-9696

Contributers

Short Sale Title Company

What is a Short Sale

Short Sale Realtor

can a reverse mortgage save my homes

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Reverse Mortgages can help in many ways…

  1. If you are behind on your current mortgage…a reverse mortgage can be used to get you current and out of potential foreclosure.
  2. Help better your way of life, most seniors we talk to are just getting by, that does not have to be….you spent your whole life paying for a house not let it pay you to enjoy the rest of your life.
  3. Help the Kids, many senior homeowners we speak too tell us that they have been having to help their kids as the economy weekend, if your kids are going to end up with the house, you might us well see it the equity get put to use your way making sure the kids are helped with the necessities.

Apply here for a Reverse Mortgage and get a free consultation

What is a reverse mortgage?

A Florida Reverse Mortgage allows older homeowner’s (62+) to convert home equity into cash through monthly income, a line of credit or cash. The Florida reverse mortgage is different from conventional home equity loans: No income or credit qualifications, no monthly or immediate repayment due. The Florida reverse mortgage is repaid when the home is no longer the primary residence of the borrower (s).

There are several types of Reverse Mortgages:

  • FHA insured HECM, sponsored by a branch of the U.S. Department of Housing and Urban Development (HUD)
  • Fannie Mae Home Keeper, sponsored by Fannie Mae
  • Proprietary programs by private banks

FL Reverse Mortgage Property Qualifications

Single family up to four units…

The borrower has to reside in one unit as their primary residence but can rent the other unit (s).

Condos…
The condominium needs to be HUD approved or receive HUD spot approval. This can be done with a spot condominium affidavit completed by the homeowners association (provided by the lender). Special assessments and on-going litigation are not acceptable. HOA reserve must be sufficient. Planned Unit Developments (PUD).

Manufactured Homes…
Manufactured Homes maybe acceptable under certain conditions.

How do I the borrower get paid?

Monthly Payments…
As a tenure plan: receive a check for as long as one lives in their home.

As a term payment: receive a check for a certain period, i.e. 10 years or 15 years (only available on the HECM).

Line of Credit…
With the FHA HECM loan, the balance in the credit line could grow at .5% higher than the current interest rate being accrued. This could result in more money available for the borrower at future dates (There is no growth rate with the Fannie Mae Home Keeper loan).

Lump Sum or a Combination of the above…
With either the FHA or Fannie Mae loans, the payment plan may be changed during the term of the loan. A small one-time fee will be charged to the loan balance at the time of each change.

If you are considering a Reverse Mortgage you may also want to obtain a Title Insurance Quote

If you are behind on payments and not interested in a reverse mortgage, try What is a Short Sale for everything you need to know about short saling your home.

Homes for sale in Deerfield Beach