Category: Orlando Short Sales

Orlando Short Sale Expert Press Conference Video

Posted on by Jenny Zamora

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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Short Sale Specialists vs Real Estate Agents

Posted on by Jenny Zamora

Like any profession in the world, there are specialists in every field… Orlando short sales are no different. If you’ve ever attempted to do a short sale, you know that not only can things get frustrating but the situation can change at a moment’s notice without any warning whatsoever. You could be negotiating with a lender for weeks or even months then finally get your approval letter with the buyer lined up and ready to go, etc. Then all of a sudden WHAM!… the loan just got sold to another lender and all of your hard work is gone… just like that.

As short sale realtors, we have to follow very detailed instructions as laid out by the lender. The problem is that these instructions can sometimes be ever-changing and you have to be flexible enough to roll with the changes… it’s kinda like trying to hit a moving target.

The 2nd worst part of a situation like this is that the real estate agent handling the short sale will usually get blamed [out of ignorance] by not only the seller but the buyer and the buyer’s agent as well. I know this because it’s happened to me more times than I care to remember. A true short sale specialist will or should handle a situation like this with patience, persistence, and grace. Also, a good short-sale agent can’t be the type of person that is easily discouraged or they won’t get anywhere in this “dog eat dog” profession.

They call us “specialists” for many reasons. It’s not just about getting the short sale done, it’s about educating everyone involved along the way on what’s going on and why. We’ve been Negotiating Orlando short sales since 2004 [before it was even in style] and we understand what a stressful time the homeowner is going through which is why we maintain good communication with them and keep them informed every step of the way. Even if nothing happens inside any given week during the process, our clients get a weekly update regardless if there was any progress with their file or not.

The way I see it, If a distressed homeowner had enough trust in our company to hand us over control over their short sale listing, then we owe it to them to get the job done, and get it done in a timely and professional manner, after all… we’re not just real estate agents, we are short sale specialists and that’s something that we’re very proud of.

Orlando short sale expert

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Winter Park FL short sale | 1760 Elizabeths Walk

Posted on by Jenny Zamora

Winter Park FL short sale | 1760 Elizabeths Walk

This gorgeous 5 bedroom 4 bathroom house is located in the premier neighborhood of Windsong in Winter Park! This 3,710 square ft beauty has 2 floors of carefully planned open layout designed to make anyone fall in love at first site.

Other Great features

* Wood burning fireplace

* 2 car garage

* Screened in porch

* Community Clubhouse

* 2 Large Community Pools

* Playground

This property has easy access to top rated schools, first rate restaurants and shops and nearby Orlando’s top medical facilities. 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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Ocwen outsourcing Orlando short sales to India

Posted on by Jenny Zamora

Ocwen outsourcing Orlando short sales- It used to be that the hardest bank to negotiate a short sale with was Bank of America… hands down. But ever since B of A has implemented the Equator system they are now one of my favorite lenders to work with. In the past year or so there’s a new leader in my list of the absolute worst lenders to work with, and the winner is………Green Tree but Ocwen is a close 2nd. Ocwen is extremely frustrating to work with and part of the reason is that they outsource their short sale department to to India. You can’t even call the negotiator directly anymore because your call goes directly to a call center. And the person you end up talking to is beyond clueless, all they are able to do is  take a message, and sometimes they even get that wrong. The only way to speak to your negotiator is to schedule a call back, which most times never occurs..If you leave it up to them, it will be weeks for you to get a call back. What I do is call every day until they get tired of me complaining…finally a call back, usually from someone other than the negotiator so you are back to square one..
I’ve always thought that the short sale negotiator should be a licensed realtor, after all… the whole job revolves around the buying and selling of real estate. How on earth is someone that is unlicensed, living half way around the world qualified to discuss short sale?
Ocwen is obviously trying to save a few bucks by outsourcing to people that work for $2-$3 per hour. However, this is one position that should absolutely not be outsourced! To be a good short sale negotiator, you need to be familiar with the real estate business, it’s just not something that you can fake.

 

Don’t get me wrong, Even in our company use we use VA’s [virtual assistants] for certain things like link building, compiling lists, etc. … but negotiate a short sale…are you kidding me?

 

Short Sales are too Important to Out source

 

I’ve said this a million times and will continue to say it. Negotiating a short sale is serious business and is usually one of the most important transactions that someone will ever be involved in. I really hope that Ocwen gets their act together especially for the mortgage holder’s sake

 

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Frustrations of an Orlando Short Sale Realtor

Posted on by Jenny Zamora

Any Orlando Short Sale Realtor should be accustomed to dealing with frustrating situations. We have to deal with things like working with Homeowners associations, clueless bank negotiators, BPO agents, contractors, etc. This just comes with the territory and if you’re going to be successful with short sales, it’s just something that you have to accept and there’s no way around it.

As a full-service brokerage, we also work with buyers. When I research listings for a potential buyer, it’s very time-consuming even if you use great real estate tools such as the MLS. The MLS was designed and put into place for real estate agents to be as efficient as humanly possible in the selling and purchasing of Orlando real estate. It also does some other pretty amazing things to help agents update their clients, exchanging of information, etc. As amazing as this technology is, you still have to use it correctly for it to be effective. With all the free training offered by the MLS, there’s just no excuse not to know.

Orlando Realtors…Be Professional… Please!

There’s one thing, however, that I find to be more frustrating than almost anything when it comes to Orlando real estate, and that one thing is dealing with incompetent real estate agents. I’m not perfect by any means but I do try my best to respect and follow the laws that have been put into place to regulate my profession. Unfortunately, there are many real estate agents out there that seem to just not care about the rules and regulations of Florida real estate. The worst part about this is that agents like these are giving real estate agents a bad name.

Top 4 pet peeves about incompetent Realtors

1- Failing to update their listings- Super frustrating when you’re searching for properties and you find an active listing that closed  5 days ago…are you kidding me? It takes less than a minute to change the status of your listing. Be professional!

2-Failing to return calls or emails- Why are you in this business if you don’t return phone calls or emails from another real estate agent? Is this also how you handle messages from a potential buyer or seller? How on earth do you make a living at this??

3-Failing to provide urgent docs for a Closing- The closing of the transaction is the ultimate goal in real estate. Why in the world would you delay in providing crucial information when everyone else involved is trying to get the deal closed?

4-Pretending Pretending to be knowledgeable about short sales [this should probably be number 1]- It’s OK if you’re clueless about short sales and I don’t mind educating you on them a bit.  However, please please please… don’t pretend that you know about short sales if you really don’t. Trying to be someone that you’re not just to feel important can potentially hurt your client. If you want to learn about short sales, take some courses, read some books but please don’t practice during “Game Day”, there’s just too much at stake. We’re talking about one of, if not the most important transaction of someone’s life.

Orlando short sale expert

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