Short Sales in a Nutshell

2 Important Reasons to Consider a Short Sale

1. Helps to avoid the devastating consequences of foreclosure
2. Allows homeowners to sell house without incurring insurmountable debt.

3 Criteria to Qualify for a Short Sale

1. Homeowners cannot keep up with loan payments due to unemployment, job relocation, divorce, medical expenses, or other hardship circumstance.
2. Homeowners have no choice but to sell their house.
3. Homeowners cannot pay off the mortgage loan and associated closing costs in full given current market conditions.

1 Important Reason Why Short Sales Aren’t Easy

1. Because the payback of the loan will be ‘shorted’ by a significant amount and the lender will have to take a loss, homeowner’s lender must approve the Short Sale contract before the house can be sold.

5 Benefits of a Short Sale

1. Allows homeowners to compete in a depreciating real estate market.
2. May reduce or eliminate liability.
3. May minimize damage to credit rating.
4. May allow homeowners to purchase a house with a Fannie-Mae-backed loan in 2 years or less.
5. Makes homeowners feel they are doing the right thing by taking care of the problem responsibly.

10 Steps to a Successful Short Sale

1. Prepare house for showing.
2. Sign listing agreement with real estate agent.
3. Work with agent to utilize a strategic pricing strategy.
4. Show house in usual manner.
5. Sign strong contract offer.
6. Prepare Short Sale Package for submission to lender.
7. Let your agent follow up with lender on regular basis.
8. Obtain written approval from lender.
9. Close on sale of house.
10. Start over with clean ‘financial’ bill of health.

4 Considerations for Your Lender to Approve the Short Sale

1. The borrower’s personal and financial situation
2. Local real estate conditions
3. Market value of the house
4. Strength of the purchase contract

10 Agent Services ... from Start to Finish!

1. Counsels homeowner on the Short Sale process.
2. Provides full marketing services.
3. Works closely with homeowner on pricing strategy.
4. Provides liaison and negotiation services with lender.
5. Helps homeowner prepare Short Sale Package.
6. Assists homeowner to compose Hardship Letter.
7. Keeps homeowner informed every step of the way.
8. If necessary, supports homeowner in obtaining extension of final foreclosure decision.
9. Coordinates closing.
10. Provides relocation assistance if needed.

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Proudly selling real estate in Oviedo, East Orlando, Winter Springs, Lake Mary, City of Orlando, Maitland & Winter Park

Neighborhoods in Oviedo - Aloma Woods, Bentley Woods, Little Creek, Kingsbridge, Riverside at Twin Rivers, Alafaya Woods, Live Oak Reserve and many other others

Neighborhoods in East Orlando - Avalon Park, Eastwood, Stoneybrook, Waterford, Cypress Springs and many others

Neighborhoods in Winter Springs - Tuscawilla, Parkstone and many others

Neighborhoods in Lake Mary - Heathrow, Magnolia Plantation, Timacuan, Woldunn and many others

Neighborhoods in the City of Orlando - Baldwin Park, Lake Nona, Delaney Park, Thornton Park, College Park, Colonialtown, Audubon Park and many others

Neighborhoods in Maitland - Dommerich Estates, Lake Sybelia, Lake Colony, Maitland Club, Maitland Forest, Minnehaha Shores, Stonehill and many others

Neighborhoods in Winter Park - Comstock Park, Lake Knowles Terrace, Sylvan Lake Shores, Charmont, Orwin Manor and many others

Florida Licensed Sales Associate, REALTOR®

Coldwell Banker Residential Real Estate

521 E Mitchell Hammock Road

Oviedo, FL 32765

Specializing in Short Sales and Luxury/Lake Properties

To put your home on the market, please feel free to reach me direct at (407) 227-7763.