Florida Short Sales

Are you upside down on your Florida property? Want to know if you’d qualify for a short sale?

The number 1 qualifying factor is: Financial Hardship

What determines a Financial Hardship? It could be a number of things; including, but not limited to:

• Loss of income
• Medical expense
• Relocation
• Death
• Divorce

If you have a financial hardship and are upside down on your Florida mortgage you may qualify for a short sale. Your lender will request a financial statement (itemizing your assets and liabilities), a hardship letter & supporting documentation to determine your eligibility. Some lenders are more lenient than others and often times we will not know how they will respond until we submit a complete package to them for review. The review process can take anywhere from a week to 120 days (or longer) to hear back.

Just being upside down does NOT qualify you for a short sale. Lenders will not release you from your obligation just because you don’t want to owe more on a property than it is worth. They may work with you but only if you have a real hardship (reason why you can no longer pay your mortgage).

We are more than happy to speak with you in regards to your particular situation. We have worked with many homeowners and investors to short sale their properties in Florida. We cannot provide legal or tax advice but we can put you in contact with tax & legal professionals to answer any additional questions or concerns you may have.

We look forward to hearing from you.

Yours in Success,

Florida Future Realty, Inc.

Short Sale Division

239-542-8521

2816 Del Prado Blvd. S. Unit 2

Cape Coral, FL 33904

www.Florida-Future-Realty.com

Copyright 2009 Florida Future Realty, Inc. All Rights Reserved.

I’ve been reading a lot lately from others about short sales. It appears that many are stating that short sale answers are coming more quickly from the banks.

Ok, I’ll bite. Short sale answers are coming more quickly. Why, do I think?

For one, I think that agents and others who negotiate short sales are becoming more familiar with the process. They know what the banks want, how to package it and how to actually follow up.

Next, I believe we’re seeing more closings for the simple fact that we are submitting more short sale packages. At any given time I have somewhere between 10-20 in the initial submission stages along with another 10-20 in pre-closing / post acceptance stage. Compare this to last year where the numbers were 5-10 TOTAL at any given time. Of course we’ll see more close NOW.

What do I think of the future? In the future I believe that the banks will be approving LESS short sales. At least less short sales without some type of promissory note or continued deficiency rights.

Sellers, if you do not have a hardship look at other options PRIOR and do not attempt a short sale. If you truly have a hardship and a short sale appears to be your only option make sure you discuss a short sale with your accountant and attorney BEFORE you list the property for sale. There could be ramifications of a short sale and you don’t want to waste months only to find out that a short sale wasn’t really the best option for YOU. Each individual’s situation is different. Different in their hardship, credit, assets, approval, etc. Do your homework first. Do you still wish to proceed with a short sale IF the lender wants to come after you for the deficiency? Maybe? Maybe not?

There are many articles out there that go over what a short sale is & what it isn’t. Some articles are completely incorrect and some are very accurate. Talk with professionals who understand the process. Hire a real estate agent who has closed SEVERAL short sales & ASK about the outcome of these short sales.

I believe things are changing. Feel free to contact me for more information about Cape Coral short sales.

Yours in Success,

Florida Future Realty, Inc.
www.Florida-Future-Realty.com
(239) 542-8521
FloridaFuture@gmail.com

If you are considering a short sale on your property in Florida we can help.

To get started we’ll provide a brief, no obligation consultation. We’ll go over the process and explain the documents required to facilitate a short sale in Florida.

We have experience with most lenders and can advise you what we’ll need for your Florida short sale to be considered.

Keep in mind that your lender is NOT required to work with you on a short sale. We’ll negotiate with them on your behalf to convince them that a short sale on your Florida property is their best option. It can cost the bank between $30-75,000 per property to foreclose. But generally speaking, the bank loses all rights to come after the borrower (you) for a deficiency judgment if they agree to a short sale; so they may want to Foreclose to leave the option open. Lenders have up to 5 years to file for a deficiency judment after a foreclosure. So just because we may not hear about many banks filing does NOT mean that they will not in the future.

Our goal with a Florida short sale is to assist you with obtaining a FULL RELEASE and SATISFACTION with ZERO due from you or second best, a small cash contribution or small promissory note if required. Generally, promissory notes are offered at 0 percent interest with very low payments. These are generally only required when you have substantial assets or a high credit score. This is much more attractive than a possible foreclosure and potential deficiency judgment for the full difference.

What happens first?

We’ll send you out a package detailing our process, a checklist of required documents and instructions. Following that, we’ll send you a Florida listing agreement with short sale addendum, real property disclosure and any other required addendums to list your property for sale.

Then we’ll get the property listed. Market it accordingly until we receive a valid offer for sale & purchase.

Next, we’ll submit the entire package to your lender and negotiate with them for a short sale.

That’s the short of it; we’re more than happy to go over the details with you in person or via phone consultation.

We service the entire SW Florida market & have associates all over the state of Florida that have experience with negotiating short sales.

Florida Future Realty, Inc. can be reached at 239-542-8521 or via email: FloridaFuture@gmail.com

We look forward to hearing from you & as always make it a GREAT day!

Yours in Success,

Florida Future Realty, Inc.

Short Sale Division

239-542-8521

2816 Del Prado Blvd. S. Unit 2

Cape Coral, FL 33904

www.Florida-Future-Realty.com

If you’ve closed at least 10 short sales in the past year we’d love to hear from you.

Other guidelines include:

No option contracts or assigning deeds allowed

No up front fees to be charged

Must be a licensed real estate agent

No outside negotiation companies are to be used

If you fit all of these criteria, please join now!

join florida short sales

Are you facing a hardship? Looking for assistance? Considering a short sale?

Our members are all Florida licensed real estate agents.

All of our members have experience with helping sellers to sell their house as a short sale.

None charge any upfront fees.

All of our members are paid when your house sells & this fee is paid by your lender.

We look forward to working with you in this stressful and uncertain time.

Ready to get started?