Foreclosures in Orlando. What's the scoop?

I have been a real estate agent for 14 years. I used to sell primarily owner occupied houses and work with sellers transferring,etc. Lately ,all my business has been foreclosures and short sale offers. Its a new world and as a very experienced agent with alot of my fellow agents gone or out of business,its actually become easier to work frankly.

Whats involved with selling foreclosures?

1.You need to know who the listing agent for the foreclosures is. If they have a ton of common sense, I am going to have a much easier transaction.

2.More than ever,knowing about loan products matters. You need to know as an agent how to get a deal done. For example, to pass FHA there has got to be a stove in the kitchen. If an agent is selling bank owned and the buyer is FHA and the agent does not know that, what the heck is going to happen when the appraisal gets ordered and there is no stove in place. It will not pass. Now ,more than ever is the time to work with an experienced agent. An agent who has worked with bank owned properties and not your cousin who is starting out in the business. There is too much at risk.

3.Now more than ever ,USE HOME INSPECTORS and take advantage of the 7 day window for inspections. They do not require termites now. Get one anyway. The last foreclosure I sold had subterranean termites.

4. Above all, the buyer of foreclosures really needs an agent. With the bank contracts coming back asking for non refundable deposits and this and that, agents are necessary

I am a realtor and I would never buy a house without a realtor because I know our value. Foreclosures are hard enough to navigate through. Bring a map, a compass and a blow torch to fight the scorpions.... and your trusty realtor

Kathleen