Orlando Short Sale Expert Press Conference Video Transcript | Orlando Realtor
From Speaker: “Hello Everyone My name is John Conde on behalf of Orlando Realty Consultants THIS IS A PRE-FORECLOSURE SITUATION! We don’t have much time. We’re here to talk about short sales today I know you all have a lot of questions so let’s get right to it, let’s please try and keep the questions short and to the point”.
From Crowd: “What is exactly is a short sale anyway”?
From Speaker: A Short sale is a pre-foreclosure arrangement between a homeowner and their lender, where the lender agrees to a sale of the property for less than what’s owed as opposed to taking the property to foreclosure.
From Crowd: “Why would a lender agree to short sale”?
From Speaker: “Well it comes down to time and money, it’s expensive and it takes a long time to take a property through the foreclosure process and banks know that they will never get even close to full payoff at the auction. Most of the time the lender buys it back as an REO property and sells it at well below market value anyway. So by doing a short sale it’s a win win for everyone involved”.
From Crowd: ” What are some reasons why someone would consider doing a short sale” ?
From Speaker: ” There are a several reasons why someone may need to do a short sale. Loss of employment , transferring to another job, maybe your payments have gone way up, or Maybe your upside down and you just want to get out of a bad investment.
There could be a million reasons why someone would need a short sale”.
From Crowd: “Don’t you need an attorney to complete a short sale”?
From Speaker: “There’s a common myth that you need to involve an attorney when doing a short sale on your home and I’m here to tell you that it’s just not true! Not only that, real estate attorneys charge thousands of dollars for what a short sale realtor does for free. We actually service short sale files for several law firms in Central Florida. So long story short,… no you don’t need an attorney, but the bank does require that a licensed real estate agent represent the seller”.
From Crowd: “How will a short sale affect my credit”?
From Speaker: ” This is a subject I will be going into detail with in the coming weeks but in a nutshell, It’s much better to have a short sale on your record than a foreclosure or bankruptcy and it will be a lot easier for you to get another mortgage in the future”.
From Crowd:”What goes into a short sale package”?
From Speaker: “Another great question,… there are many different components that make up a complete short sale package, We don’t have time to get into it today but in the days ahead we will be going into each component of what makes up a complete short sale package .
“I know everyone is desperate for answers and unfortunately we just don’t have the time to get into it today. But I will tell you this… In the coming Weeks we’ll be breaking down in detail, the different Components that go into a complete short sale package.
In closing, just know this… by completing a short sale, homeowners can walk away from their properties without having a foreclosure reported on their credit – all while having their mortgage debt completely forgiven by the lender.
Not only that but in most cases we’re able to get money back to the seller anywhere from $3,000 – $30,000.00, and you can quote me on that.
For the folks watching at home feel free to visit the website below or call the number. For everyone here I do have some business cards here for any one that wants one so just come on up”.
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