Category: News and Information

The Closing Process

Posted on by Jenny Zamora

Once there is a solid offer on a property, it’s time to begin the closing process. The closing process can be explained best by breaking it down into steps.

The first step is the signing of the contract by both the buyers and sellers. This is done after both parties have agreed to all the terms of the sale including price, repairs, contingencies etc.

When both parties sign the contract, it’s then referred to as an executed contract. The next step is for the buyer to deposit a pre-determined amount of money [earnest money deposit] into an escrow account. The earnest money deposit shows that the buyer is fully committed to the transaction.

The executed contract is then sent immediately to the buyer’s lender as well as the title company so that each party can get to work on closing the transaction. Usually, there is a period of time specified in the contract [inspection period] which is used for the buyer to complete any necessary inspections of the home. This time also allows the seller to make any necessary repairs that were previously agreed upon by both the buyers and sellers.

It is the realtor’s job to work together with the title company to collect all the necessary documentation. The title company then prepares a document known as a HUD-1 settlement statement. The HUD-1 is an extremely important document because it outlines all the charges associated with the sale of the home from both sides of the transaction including property taxes, commissions, outstanding HOA fees, etc.

Most importantly for the seller, it will give them a clear indication of what they will net after the sale transpires. An experienced Orlando realtor has the ability to read through the HUD -1 and quickly determine if anything is wrong and if all figures have been calculated correctly. The final step is for both parties to sign all necessary paperwork to make it official.

If you’re considering selling your home, don’t try to do it without help. Trying to buy or sell a home without the help of an experienced real estate agent could end up costing you thousands of dollars and a bunch of headaches. Contact one of our listing specialists to set up a free consultation.

 

 

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Do You Need An Attorney To Short Sale?

Posted on by Jenny Zamora

Do You Need An Attorney To Short Sale? 407-902-7750 Video

There’s a common misconception among distressed homeowners that you need to hire an attorney in order to complete a short sale on your home. The truth is that you don’t need to hire an attorney in order to complete a short sale.  The lender does however require that a licensed real estate agent represent the seller in order for a short sale to be approved.

There are some cases where you would want to consult with an attorney such as;  if there’s title issues, the property’s in probate or if there’s a Bankruptcy involved, etc.

Now with that being said, most of the time you don’t need to hire an attorney to short sale your home.

One of the most popular reasons why people hire a short-sale realtor instead of an attorney is the cost. Attorneys can charge you thousands of dollars to do your short sale, whereas a licensed realtor does it for free.

Wouldn’t you rather save your money instead of turning it over to a lawyer?

A realtor only gets paid if the short sale closes, and they get paid by the lender,it doesn’t cost the homeowner a dime. Not only that, but most of the time we get you cash back a closing. We’ve gotten our clients anywhere from $3,00 to $30,000.00 back at closing.

There are currently thousands of Orlando homeowners that are looking for help with their situation. The process isn’t just hard, It’s scary. We’re talking about potentially getting kicked out of your home. This is why it’s crucial that you get help from a proven Orlando Short sale Expert.

We understand this which is why we are devoted to helping people that are facing foreclosure and financial hardship to find solutions to their real estate needs.

If you or someone you know needs help with a short sale. visit our website at https://orlandorealtyconsultants.com/short-sales/ or just give us a call at 407-902-7750 for a Free consultation.

 

 

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Alternatives To Foreclosure Exposed!

Posted on by Jenny Zamora

Foreclosure can be a devastating situation for homeowners as well as the surrounding neighborhood. Despite an improving economy in the Orlando, Florida area, it is important that distressed homeowners are fully aware of all the alternatives to foreclosure that are available to them. As a certified distressed property expert [CDPE], I try to ensure that homeowners in foreclosure have the latest most up-to-date information available so that they can make the most informed decision possible based on their situation.


Although lenders have the ability to start foreclosure proceedings after one payment is missed they will usually allow a homeowner to miss up to three mortgage payments before officially starting the foreclosure process. A short sale can substantially minimize the damage to someone’s future loan eligibility, credit rating, security clearance, and even employment with some companies.

It’s important to know that a foreclosure can stay on someone’s record for up to seven long years. Now more than ever, distressed homeowners should take every precaution available to them to try and protect their credit.

A short sale is the most popular way to avoid foreclosure and save your credit. However, there are several other alternatives available to homeowners wanting to keep their houses.

1- Deed in lieu- Basically a voluntary foreclosure where the homeowner signs the property over to the lender instead of going through the foreclosure process. However, you should be aware that a “deed in lieu” will still show up as a foreclosure on your credit report.

2- Loan modification- This is when a lender adjusts the terms of a loan making it more affordable to the homeowner so that they can remain in their home. Loan modifications can be tricky and many times even though the payment is reduced, the principal remains the same or even more. The best loan modification scenario is when the lender reduces both the principal amount of the loan as well as the interest.

3- Bankruptcy- Usually, a chapter 13 bankruptcy is the best way to save your house from foreclosure. It allows the homeowner to make up missed mortgage payments through a repayment plan and get back on track. A chapter 7 bankruptcy, while providing some temporary relief from foreclosure, usually won’t prevent the foreclosure of a home. The bad news is that having a bankruptcy on your record is just as bad as having a foreclosure.

Consult with a Certified Distressed Property Expert

A realtor with a CDPE designation has the knowledge and the tools to efficiently and ethically pursue alternatives to foreclosure, especially short sales. In addition to specialized training in dealing with distressed properties, CDPE agents are connected to an entire network of other professionals in this niche which allows them to remain up-to-date on the complex and ever-changing Orlando real estate market.

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Big Improvements to Orlando Realty Consultants’ Website

Posted on by Jenny Zamora

Mobile devices are changing the way people do business today and this is especially true for Orlando Realty consumers. Analytical research clearly shows that the majority of online home searches are now done from smartphones and tablets instead of home computers and laptops.

http://OrlandoRealtyConsultants.com, our company’s main website has recently been upgraded with a responsive theme and highly advanced IDX home search technology in order to enhance the performance and new capabilities of the site.

These exciting new changes have also greatly increased the speed and functionality of the site for all mobile devices like smartphones and tablets. Now, it’s just as easy to navigate the site from mobile devices as it is from traditional laptops and desktop computers.

Now, more than ever people are using smartphones and tablets instead of their home computers for their real estate needs, and these improvements are dedicated to them. We live our lives on the move these days and mobile devices are the future. It’s our job to keep up with the changing times.

The new site is equipped with the latest state-of-the-art IDX search software allowing users to search Florida homes for sale on the MLS just like a pro from the comfort of their own home. Our goal as Orlando realtors is to provide our clients with a pleasurable user experience from any device.

The new website even offers users an option to sign up for new home listing alerts as well as current market condition reports. These days it’s extremely important that real estate agents are familiar with the latest technology related to the real estate business. Orlando real estate agents have to be tech-savvy or their clients will suffer for it.

Our team of high-energy real estate professionals prides themselves on providing professional real estate services with a personal touch. This is why we provide them with the most advanced and up-to-date real estate tools available today.

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6 Questions To Ask Your Orlando Realtor

Posted on by Jenny Zamora

If you’re thinking of buying or selling a home in Orlando, you probably have a ton of questions about the Orlando real estate market and how much your house will sell for. In addition to these questions, there are other questions you should be asking an Orlando realtor before you commit to working with them. 

1- Are you a realtor or just a real estate agent?

It’s important to know that a “REALTOR” is more than just a licensed real estate agent. A realtor belongs to an organization known as the National Association of Realtors [NAR]. Realtors operate under a code of ethics that exceeds what might be demanded of other real estate professionals. You should also ask your realtor about any other industry certifications they may have.

2- How much commission do you charge?

Realtors have the power to negotiate their commission. Find out how much they usually charge and ask if they will be willing to give you a better rate than usual. Although some realtors are given strict guidelines by the brokers that they work for, it never hurts to ask.

3- What makes you different than other realtors?

This question will really put the realtor on the spot and provide you with the opportunity to see how they react to it.  You’ll also see what kind of personality they have and if it meshes well with yours. Remember, this is someone that you’ll be dealing with on an everyday basis so it’s important that you feel comfortable with them.

4- How will you market my house?

Unfortunately, some realtors rely solely on the Multiple Listing Service [MLS] to sell their homes. But the truth is that there are several other things that a realtor can do to get a house sold quickly for top dollar. You want to hire a realtor that uses every tool in their toolbox like social media, videos, direct mail, blogging, etc. The more exposure your property gets, the better your chances will be of getting it sold for the highest amount possible. 

5- Do your listings typically sell for the asking price?

Ask your realtor to show you some of their more recent home sales. Then compare what the original listing price was to the sold price. This is a good indicator of how good the realtor is at pricing homes correctly from the start.

It’s the agent’s job to help you to come up with the listing price. Therefore if the home was priced correctly, there should be no reason why it wouldn’t sell for the asking price or at least very close to it.

6- What’s the best way to reach you?

Let your realtor know that you will be in contact with them often and that you expect them to be easily accessible to you. Find out the most convenient way to keep in touch for both of you is by email or text and make sure that they understand that you would like to be updated on what’s going on with your property regularly.

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