Tag: orlando short sale specialist

Things you Must Know when you’re Choosing an Orlando Short Sale Agent

Posted on by Jenny Zamora

 All Orlando Realtors Were not Created Equally

When it comes to doing an  Orlando short sale, many things come into play. One of the most important aspects of this particular home selling process is the agent that you choose. Your real estate agent will be doing all of the negotiations for you with your bank as well as with the potential buyer; therefore, you have to trust your short sale agent.  In order to trust your agent, you should know important things about them before turning the steering wheel over to them when it comes to selling your home.  When picking an agent, it’s absolutely crucial that you do your research on that person.

The first thing you should do is research the agent’s background and area of expertise in Orlando Real Estate. The best way to research the company is to utilize online search engines. Simply type in the company or the agent’s name followed by “reviews.” Within seconds you should be able to find numerous reviews from previous clients that will help you to determine the reputation of the company in which your agent is associated.

Certified Distressed Property designation

As with anyone that you hire, you should take into consideration the agent’s real estate experiences. You can also ask the agent to provide you with references, which you can call to obtain detailed information from previous Short Sale clients. References can provide you with the best information about what to expect if you need to do a short sale on your house.

Also, make sure that you agent has their Certified Distressed Property Designation. Although this isn’t the most important thing that you should consider when hiring an agent, it certainly doesn’t hurt to hold this endorsement.

 

Ask About Getting Cash Back for Your Short Sale

There are many “Cash For Keys” type programs out there right now from organizations such as HAFA. We’ve gotten our clients anywhere from $3,000.00 to $20,000.00 back from the bank at closing. When interviewing a realtor, make sure that you ask about these programs and what the plan of attack will be before signing anything. If they don’t specialize in short sales, then chances are they’re not going to know what the latest laws and regulations are and what they’re able to qualify you for.

The problems start when a homeowner hires an agent to do their short sale and the agent either has very limited experience with short sales or none at all.  Short sales are not easy and not all realtors have the skills, work ethic or experience required to be an expert short sale agent.  When homeowners make the mistake of not hiring the right agent for the job, the result can be disastrous resulting in your home getting foreclosed on.

If you’re in the market for a real estate agent that specializes in doing short sales do your research and find out everything that you can about the agent before making your decision, you’ll be glad you did.  Ask me anything, I’m here to help.

 

 

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HOA Foreclosures Keep Rising as Associations Seek ‘Revenge’ on Delinquent Homeowners

Posted on by Jenny Zamora

HOA foreclosures are becoming more and more common these days. Tired of putting up with late duesAvoid foreclosure Orlando, FL and mounting maintenance bills, some homeowner associations are motivated by spite and revenge, instead of sound business sense, to foreclose on delinquent owners.


I believe that taking title to a property for a few thousand dollars in unpaid association fees is just wrong and isn’t the best answer.


Here in Orlando a Home Owner Association will only receive 1 year worth of payments if the property goes to foreclosure sale. Sow why are soo many Associations initiating the foreclosure before the lenders even do?


Here’s what I think, HOAs are fed up with being playing fiddle to the lenders. It used to be that HOAs were easy to work with. If someone was behind on their HOA dues it was no big deal. If the seller owed ten thousand dollars in delinquent HOA dues, experienced Orlando realtor could usually get them to accept one to two thousand dollars and they would only get paid at the closing table.

 

The fact is a lot of members aren’t paying because they haven’t seen that the associations mean business, Associations are now very educated on the subject. Now they  are getting serious about it and moving towards foreclosure much faster and many times, beating the lenders to the punch.

 

Because it’s easier for an association to foreclose than a bank  [no proof of ownership necessary, no issue with robo-signed documents ] real estate attorneys say that the biggest reason for the increase in HOA foreclosures is that HOAs are tired of getting pushed around and are now pushing back with a vengeance.

 

 

Orlando Homeowner Associations getting rental income from foreclosed houses

There’s another reason why HOA’s are foreclosing way before the lender does. When the homeowner association forecloses and takes title to a home, they rent it out until the bank forecloses as the primary lien holder. With banks taking years to foreclose on some properties, the board can collect thousands of dollars by the time the bank gets around to foreclosing.
I’ve seen with some of my own clients that HOA boards will even implore tactics such as taking away there gate key forcing them to park outside the community and walk.The fact is that many times the HOA will push for foreclosure out of spite even when there are other options available.

If you happen to find yourself in a similar situation with your HOA, then you should consult with an Orlando Realty Expert. It doesn’t cost you anything and you may find the solution to your problem

 

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