Category: Orlando Short Sales

What’s a short sale package? | Orlando Realtors

Posted on by John Conde

Orlando Realtors- What’s a short sale package?  Video Transcript https://orlandorealtyconsultants.com

Hello Everyone, my name is John Conde with Orlando Realty Consultants Y, Yo Hablo Espanol. Today I’m here to explain exactly what goes into a short sale package.

First question…The young man with the Puerto Rican Flag

Audience – “What makes up a complete short sale package?”

“Great question,… there are many different components that make up a complete short sale package and it’s crucial that your agent gets it right the first time around….    Now before we get into the details of a  short sale package it’s important to know why your bank is asking you for all of this documentation.”
“You see, you’re trying to prove to your lender that you can no longer afford to keep the property and you’re asking them to “pretty please” let me sell it for what it’s currently worth so that I can get out from under this huge debt that I owe you.”

“Next question…. Older Gentleman with the headphones”
Audience – “What’s a hardship letter?”

“OK a hardship letter is a letter explaining to the lender the story of why you’re in the situation that you’re in…. Now when you write a hardship letter,.. remember… this letter will be read by another human being so you really want them to feel compassionate about you and your situation…so keep that in mind when you’re writing it and the more details, the better.
Now there are some negotiators that have a very robotic approach to their job and it won’t make a difference at all, but it’s worth a try.”

Some other items that they will ask you for are things like
– 2 years of tax returns…bank statements…-financial worksheet …-paystubs, etc.

Audience -“What if you don’t want to give them your personal financial information?”

John Conde- “Well if you don’t want to give them you’re financial information then your short sale file will be closed and foreclosure proceedings will continue…and that holds true for all lenders. In my 8 years of doing short sales I’ve never had one where the lender doesn’t require the homeowners financial information. So that’s just the nature of the beast.”

OK folks, I have to go…if you have any more questions about what goes into a short sale package just contact our office… feel free to take a card, visit our website or just call us at the number at the bottom of your screen…. Thank you

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Who decides the value of a Short Sale?

Posted on by Jenny Zamora

Orlando Realtor –  Video transcript who decides the value of a short sale?

Hello, John Conde here with https://orlandorealtyconsultants.com/ , and today we’re here to talk about short sales

John Conde: OK first question?… The woman with the Orange hair

Audience: Who decides the value of a Short Sale?

John Conde: OK…great question and a crucial part of the short sale process.
The valuation of a short sale, as determined by the short sale lender, is probably the single most important factor of the transaction.    ….The way it works is; after we submit an offer to the bank, the bank will then order a BPO.. AKA [Brokers price opinion] on the property.

This person will usually be a local realtor that will go out to the property, and after doing their research on recent sales in the neighborhood, will give the lender their opinion of what the property is worth.

Whatever, the BPO comes in at will be the negotiating point between the lender and potential buyer.

John Conde: Next question…

Audience: Does it matter if the house needs repairs?

John Conde: Yes, it does matter and that is something that they are supposed to take into consideration when giving their estimation of value.

So they do the BPO…Now At this point there are 3 things that can happen that will dictate what follows.

1… The BPO comes in at a fair number that everyone is happy with and we proceed to closing.
2… The BPO comes in too low and the bank insists on another one being done… It happens sometimes.
3…The BPO comes in so ridiculously high that the buyer threatens to walk.
Now when this happens, you will find out what your short sale agent is really made of….The agent can choose to do one of 2 things.

#1- Just accept what the bank says, let the deal fall apart and pray that a new buyer comes along
or
B- Do whatever it takes to prove to the bank, that the BPO agent got it wrong.
Now at our company, We do this by preparing an in depth report of our own… called a CMA which is also known as a comparative market analysis]. This report contains even more information than the BPO agent provided them with.

What a CMA basically comes down to is a list of Active, Pending and Sold properties in the area… and  the whole purpose behind this is to get the lender to order another BPO or if we’re lucky they’ll just use ours.

I hope this was helpful in answering your questions.  Remember…we’re here to help…it’s up to you to take the next step…Thanks for watching

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Avalon Lakes Short Sale | 13736 Mirror Lake Dr. Orlando

Posted on by Jenny Zamora

Avalon Lakes Short Sale | 13736 Mirror Lake Dr. Orlando

This is a Gorgeous 2 story home located in the highly sought-after gated community of Avalon Lakes. This house has been lovingly maintained and is move-in ready. This 2,219 square foot beauty has 4 large bedrooms and 2 1/2 bathrooms. It’s meticulously designed floor plan was created to be easy on the senses and great for entertaining guests. With great amenities like a community pool, fitness center and tennis courts this home is perfect for active families.

Property features

* Bamboo Floors

* Solid Wood Cabinetry

* 2 Car Garage

* 1st Floor Master Bd rm

* Community Pool

* Tennis Courts

* Fitness Center

* Playground

With easy access to major highways, this property is close to restaurants,  shops, and entertainment. Don’t wait! This one won’t last for long.

 

Visit us at Orlando Realty Consultants to see this or any other of our terrific Orlando properties.

Orlando Real Estate Broker

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4584 POINT LOOK OUT RD- ORLANDO SHORT SALE- MLS# O5157573

Posted on by Jenny Zamora

This Orlando short sale property is located in the in the very sought after community of Rosemount  Point. The property is nestled in a very quite and child friendly neighborhood with a large Community Center, Pool and playgrounds all within walking distance of your front door. This property is also conveniently located close to shopping malls, restaurants, movie theaters and more.

With only minor repairs to be made perfect again, this property has tremendous potential for any homeowner or investor wanting to buy and hold.

Property Details

3 Bedrooms

2 Bathrooms

Open Floor Plan

2 Car Garage

Large Fenced-in Yard

Community pool

Community Playground

Tennis Courts

If you want to search the MLS like a PRO? Contact us below and you’ll be in the drivers seat with access to listings throughout the entire state of Florida.

https://orlandorealtyconsultants.com/

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Do you need an attorney to complete an Orlando Short Sale?

Posted on by Jenny Zamora

Orlando short sale

Hello folks My name is John Conde with Orlando Realty Consultants and if you’re looking to hire an attorney… then you’re in the wrong place… We’re to talk about Orlando short sales and why you don’t need an attorney to complete a short sale.

John Conde: “first question please…yes,  the young lady with the dread locks”

Question from audience:  “Don’t you need an attorney to do a short sale?
John Conde: “The short answer is … No you do not.”
Now, there are some cases where you would want to consult with an attorney if there’s title issues or if the property’s in probate court, if there’s a Bankruptcy involved,  etc.
Now with that being said, When it comes to attorneys doing Orlando short sales, the truth is that most people just don’t need them.

One of the biggest reasons people go to a short sale realtor instead of an attorney is the cost.
Attorneys can charge you thousands of dollars to do your short sale, where an agent does it for free. The agent 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… How’s that for incentive?
John Conde: “Next question?…..Yes sir with the top hat”

Question from audience:  “How does a realtor get paid from a short sale”?
John Conde: “Great question, as opposed to a lawyer that you have to pay upfront,… a real estate agent does not get paid unless the deal closes.
A  good short sale realtor is going to do everything in their power to make the deal happen. Or they don’t get paid… It’s that simple.
I would much rather see a homeowner keep that money to pay bills or put it into their savings instead of turning it over to an attorney.  Watching people throw down thousands of dollars for help they can get elsewhere for free is just sad.
It’s like seeing people suffer from the housing meltdown not once, but twice”.
There are currently thousands of Orlando homeowners that are looking for help with their situation. And I’m not Gonna stand here and sugar coat things…. 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 or just give us a call for a Free consultation. our information is at the bottom of your screen. thanks for watching.

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