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Short Sale Experts
We Specialize in Short Sales & Lender Negotiations.
What is a Short Sale?
In
real estate, a short sale is when a
bank or
mortgage
lender agrees to discount a
loan balance due
to an economic hardship on the part of the mortgagor. The home owner/debtor
sells the mortgaged property for less than the outstanding balance of the
loan, and turns over the proceeds of the sale to the lender in full
satisfaction of the
debt.
In such instances, the lender would have the right to approve or disapprove of
a proposed sale.
As a real estate broker, I am not a lawyer nor a CPA and cannot give any legal advice. However, I work hand and hand with many lenders in this area.
We have successfully closed many short sale deals this year. We have an excellent success record .
If your were to hire a lawyer to do all these services for you it would cost thousands $$$$ of dollars for their services.
We offer all theses services above plus negotiating on your behalf at a much lower reasonable rate. We will even get the lender to pay all commissions for the sale for you.
Here is a list of companies we have a good solid working relationship; Lenders & Banks
Give me a call at 239-898-2120 for more detailed information.
Be aware the Internal Revenue Service. will consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.
Now if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.
So, is the
borrower off the hook?
Not necessarily. The lender still has options to try to collect this shortage.
As a condition of the short sale the lender may require the borrower to sign a
note to repay the shortage. They may also file a collection or a judgment for
the amount of the shortage. This is something that an attorney with expertise
in this area of real estate needs to be consulted.
Also, the IRS may come after the borrowers for income taxes on the amount of
the shortage. If the shortage was forgiven, the lender will report the
shortage as income to the IRS and the IRS will collect taxes on this amount.
Again, for the specifics on this please consult a tax professional.
Foreclosure Deficiency Judgment
How Vadala Realty will Market
and Sell your
property.
Not
all agents work the same way. The most important attribute
of an agent is that he/she is well connected to the real
estate industry. In addition, you also want to look for an
agent that is honest, assertive, and one that best
understands your needs. Large oversized companies can't give
you that personalized service. We all have the same amount
of exposure, no matter how many offices or agents. The Multiple Listing Service
is working for all of us the same no matter what size you
may be. The differences between Vadala Realty and other
companies is we can offer
personalized service! So don't be fooled by all theses
statistics agents sell you on.
Vadala Realty is committed to providing quality service to
all of their clients and to ensure your property is marketed
to an optimum level and receives high market value. I am
available to my clients 24/7 for any questions or concerns
they may have. Below is Vadala Realty's marketing plan for you. Communication & Trust
is a strong foundation to success.
1. View and Photo Home, make recommendations on how to
increase the value to Market the Home the most effective.
2. Agree on Price, Terms and Financing
3. Submit personalized Listing to MLS
4. Install a distinctive sign and Lockbox
5. Team up and run a campaign with the Real Estate Book for
all lee county
Multi
Media Marketing homes
6. Local advertising with
Realtor.com National advertising in the duPont Registry on listings over 1.5 Mil.
dupontregistry.com
7.Internet marketing on our website
www.sellcapecoralflorida.com ,
www.listhub.net,
www.listingbook.com
and the major search engines like Google, Yahoo, MSN,
Ask.
8. Email 81 Million Target Prospects Monthly. That's 2.7 Million Target Prospects a Day! http://www.webtrafficmarketing.com/
9.State-of-the-art Technology (
Talking House)
10. 24/7 Appointment service and showings
11. Hold Open House for Public & Brokers
12 Phone All Potential Buyers in our data base with Details of Listing
13. Follow Up on Open House for Public & Brokers
14. Mortgage Broker referrals for buyers. Title company
referrals for sellers
15. Help make the transaction for the buyers and sellers as
simple as possible (available 24/7 car internet access)
16. Give You a Status Report & evaluate anything I can do
better to met your goal.
17. Go Over Any Changes
18. Review Pricing
19.Create or revise Marketing Plan if needed
Remember you always want to look for an agent that is
honest, assertive, and one that best understands your needs.
www.vadalarealty.com