Celebration, FL

Hi folks. I just read this and had to share......

"Unfortunately, the “Big Three” credit bureaus – Equifax, Experian and TransUnion – have issued new guidelines that allow lenders to report new mortgage loan modifications as “partial payment status,” a designation that could lower an individual’s credit score by more than 50 points."

It's my opinion that being penalized for doing a loan modifcation is just BS to the nth degree! It's like why bother? Why not just go ahead and do the short sale and move on with your life?

What will they think of next?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Living in Celebration Florida

Living in Celebration Florida is like buying a ticket to a movie in a big cinema-plex, but getting to enjoy all the movies for the price of one ticket. As a resident of Celebration, Florida you enjoy friendly neighborhoods, bike and walking trails throughout, extensive conservation areas, active homeowners oversight, special events, restaurants, shops, and yes even our own movie theater.

Celebration, Florida is a vibrant community of different villages. Each one of these villages has its own identity. When you live in Celebration, Florida you get to enjoy all the parks and recreation common to the community.

Living in Celebration, Florida boasts many fountains, parks and art in the form of sculptures which adorn some of the park areas. Some streets in Celebration, Florida are designed to serve as wide dividers and as such are manicured with park benches, landscaped flower beds and trees.

Residents of Celebration, Florida enjoy all the holidays. Halloween and Christmas are especially festive. Homes are decorated and the entire community comes alive to make these Celebration holidays special. It is not unusual to have 800 to 1000 little goblins at your door Halloween. Many homes in Celebration, Florida are decorated for Christmas with computerized light shows that have become popular on YouTube Christmas decoration shows. Celebration is truly a special community to call home.

Living in Celebration Florida

Hi folks. Allison Stewart wrote a very good post this week titled WALK THIS WAY... CAN BUYERS JUST WALK AWAY FROM A CONTRACT?. Allison’s post is talking about Buyers who feel they can just walk away from a Short Sale transaction and get their deposit back because they are just tired of waiting. They feel the contract is not binding.

Here is my opinion on why Buyers feel this way. They are misinformed.

A Short Sale contract is no different than a regular contract with the exception of the 3rd party approval contingency. This contingency is related to the Lender approving the “Short” NOT approving the contract. The lender has no authority to approve the contract since they are not a party to the contract.

They do however have the authority to approve or disapprove the Seller’s request for a “Short” payoff.

A contract is binding and legally enforceable when:

1. It has a legal purpose
2. The parties are legally competent
3. The offer has been made and accepted
4. There is consideration
5. The parties have willingly consented to the terms

There may also be contingencies in the contract. Contingencies are: Conditions which must be met if a contract is to be performed.

Some contingencies may be to protect one of the parties:

1. Survey
2. Inspections

Some contingencies may need to be removed in order for the purchase to be completed:

1. Title
2. Short sale approval
3. Financing

The Short Sale approval is just one more contingency in the purchase contract. And just like any other contingency it should have a time period to be removed.  

If it can’t be removed in the time allowed then the parties can either extend the time period or cancel the contract and return the escrow deposit.

If it can’t be removed at all because the Short Sale was denied then the contract becomes  “null and void”. The Seller is now unable to perform. This is no different than when the Buyer’s financing is denied. He too is now unable to perform.

Folks....this stuff is NOT complicated. It’s Real Estate 101. Stop trying to complicate matters by treating the Short Sale as anything other than what it is…..a contract contingency.

If your Short Sale listings are not closing. Get training. You’re doing something wrong.

If your Buyers are getting frustrated then you are not setting the right expectations.

These are my thoughts. What are yours?

***I am NOT an Attorney and this is not legal advice. I am however a Licensed Florida Real Estate Broker and this IS my opinion.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***

SHORT SALE AGENT TRAINING

Listen to a sample of the 5 part webinar:

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

First: I love my Nokia PDA. It is a great phone. It does everything I want from a phone: E-Mail, Web browsing, Tethering even SIP-Telephony without a glitch. Fun stuff also like Google Latitude, always letting my family know where I am. Google Earth and a lot more.

I tried the first iPhone years ago. After a few days I gave it to my daughter. Too many things I loved on my Nokia PDA, it could but would not do (because of some agreements between Apple and At&T).

Then last weekend everything changed:

I drove with a client to look at a home in an area where they would love to move to, but were not able to find the right home. We looked at this home, but sure enough there where to many issues that did not fit their criteria. So we looked around for other homes for sale in the area.

I was prepared. I had my notebook connected via Bluetooth with my Nokia to the Internet (Tethering). I am a technology freak. Always up to date! Not many of the Realtors I know would even try this on the road.

So I thought.....

We found a home that looked interesting, so I started entering the address into the MLS when my Client, playing with his iPhone, read out loud all the info of the home: Bedrooms, Bathrooms, Sqft, sale price. I wasn't even finished typing in the address. Then he showed me pictures of the inside on his iPhone.

Now I just found myself in the stone age of technology! 5min ago I thought I was at the cutting edge. Wow what a feeling.

Things like that happen to me only one time!

Back home I ordered the new iPhone 3G S online. I also bought a device to mount it in my car like a navigator.

Now I am back in the game and wonder how I survived without this device. I always have Zillow activated, so while I drive through town, I can see the real estate information about the homes I am passing automatically. The built in GPS follows my route and shows me the homes around me without any interaction with the phone. If I am interested in a home, I tap my finger on the home and receive more details and in many cases pictures from the inside. What a great tool to have, and now I am impressing my clients!

Looking forward to show you homes in the area and being able to answer your questions about every home, even if I don't know all the details. I just look them up right then and there!

See you soon!
Richard

Dipl.-Ing.
Richard A. Stephan
Licensed Realtor®, e-PRO®, TRC
TonyDavidsHomes.com LLC
1420 Celebration Blvd. Suite 200
Celebration, Florida 34747 / USA
Mobile: +1 - 407 - 433 - 8702
Fax : +1 - 407 - 624 - 4855
My Website: www.RichardStephanRealtor.com
Office Website: http://TonyDavidsHomes.com
Mail To: blog@RichardStephanRealtor.com

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