If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: Refinancing your loan at a lower interest rate; providing a different payment plan to help you get caught up; or providing a forbearance period if your situation is temporary. When a loan modification still isn't enough to relieve your financial problems, a short sale could be your best option if:
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest. A qualified real estate professional can:
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale "package" that accompanies any offer typically must include:
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender's review of the short-sale package can take several weeks to months. Some experts say:
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work with your lender's loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
We will be happy to answer any questions that you may have. Your confidentiality is assured.
Rick Frissell~ Florida's Beautiful Homes- Realtors®
813-653-1241
Rick Frissell is a Tampa Bay Area Realtor, Author and Consultant. Rick loves to bike and walk his Golden Retriever pup in the Brandon, FL area. He has worked with Tampa Bay Area real estate for almost a decade. His website has a free MLS search for Tampa Bay Area homes along with Brandon Florida's Beautiful Homes Blog that allows readers to gain insight into the Tampa Bay Area real estate market.
While the team concept has been around the real estate industry for some time, not all teams are equal. Let an experienced team who believes in ethics and service to the customer first and foremost be on your team. Here are nine reasons why it pays to work with the Rick Frissell Team, Realtors® with Florida's Beautiful HomesTM.
1. You'll have a team of experts guide you through the process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
2. Get objective information and opinions. The Frissell Team can provide local community information on utilities, zoning, schools, and more. They'll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
3. Find the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by a team of agents such as ours to find all available properties.
4. Benefit from their negotiating experience. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Property marketing power. Real estate doesn't sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner's contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a Realtor®, you do not have to allow strangers into your home. Our team will prescreen and accompany qualified prospects through your property and assure that other agents follow their lead.
6. Real estate has its own language. If you don't know a CMA from a PUD, you can understand why it's important to work with a professional who is immersed in the industry and knows the real estate language. We speak real estate and put it all in terms that you understand.
7. The team concept means we have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you've done it before, laws and regulations change. An active real estate team, such as ours on the other hand, handle hundreds of real estate transactions for folks. Having an expert on your side is critical and it costs you no more.
8. Buying and selling is emotional. A home often symbolizes family, rest, and security - it's not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they'll ever make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.
9. Ethical treatment. Every member of Florida's Beautiful Homes is a Realtor® who makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public. As a customer of a Florida's Beautiful Homes Agent, you can expect honest and ethical treatment in all transaction-related matters. It is mandatory for REALTORS® to take the Code of Ethics orientation and they are also required to complete a refresher course every four years.
Call the Rick Frissell Team today!
813-653-1241
e-mail: Rick@BrandonsBeautifulHomes.Com
Florida's Beautiful HomesTM
Rick Frissell is a Tampa Bay Area Realtor, Author and Consultant. Rick loves to bike and walk his Golden Retriever pup in the Brandon, FL area. He has worked with Tampa Bay Area real estate for almost a decade. His website has a free MLS search for Tampa Bay Area homes along with Brandon Florida's Beautiful Homes Blog that allows readers to gain insight into the Tampa Bay Area real estate market.
Thanksgiving is one of our most completely American holidays. It centers on family, friends, and giving thanks for the many blessings we enjoy as a free Nation and in our individual lives.
Thanksgiving traces its beginnings to the early days of the colonies, when almost four centuries ago, in Plymouth, Massachusetts, Pilgrims celebrated surviving their first winter on this new continent by sharing a harvest feast with Native Americans. In 1789, George Washington called for the first National Day of Thanksgiving, but it was not until 1863, during the Civil War, that Abraham Lincoln proclaimed Thanksgiving a national holiday.
Everyone has a personal view of what Thanksgiving means-from the vision of Indians and Pilgrims sharing a meal...to the famous Norman Rockwell drawing of a family sitting down to eat...to the huge floats in Macy's parade in New York City and the many hotly contested football games around the country. Some see it as a time to give back by working in food banks and shelters to make sure those in need are fed. But, for many it may be a workday just like any other. Our military in harms way are some of those people away from family and friends on this traditional holiday. Our hope and prayers are with those folks and their families.
Whatever Thanksgiving means to you, when you sit down with family and friends this Thursday, please give thanks for this free country we live in and for the sacrifices that have been made over the centuries to preserve those freedoms. Remember too, our men and women in the military who are far away from home, and those who must work and forego being with their loved ones.
Florida's Beautiful Homes and staff wish the warmest of wishes to you and your family for a safe and happy Thanksgiving.
YMCA's Corks & Forks
Celebrates the tastes of Central and South America!
| Saturday, November 21, 2009 | |
| Time: | 7:00pm - 10:00pm |
| Location: | Campo Family YMCA (poolside!) |
| Street: | 3414 Culbreath Road |
| City/Town: | Valrico, FL |
Come together for good eats and good times while sampling wines and beers from our South and Central American neighbors! Celebrate the excitement of Carnivale with delicious tastes from a variety of local restaurants and vendors, pick up a great gift or two from our silent auction, and have a great time! All funds raised will stay right here in the Brandon Area, providing scholarships for local kids and families to participate in healthy, value-rich programming offered at the Brandon, FL YMCA.
Tickets now available online
Rick Frissell-~ Brandons Beautiful Homes
813-653-1241
By Rick Frissell, Realtor®
Author & Consultant
In the past, buying a foreclosed home was a very challenging process. This was because of the limited supply of foreclosures. In many cases, it took several weeks, if not months, to find a good foreclosure. Next, you had to win the bidding war to buy it. And finally, you had to have an armored car full of money to repair the home.
Well, this has all changed with the recent foreclosure crisis. Today, there is a large supply of great foreclosure opportunities. In fact, you can find these homes very quickly, banks are accepting lower offers because of the supply, you don't have much competition which means no bidding war and believe it or not, the homes are in much better shape.
For a limited time, you can receive a free copy of a new book titled "Foreclosure Home Buying Secrets" which normally sells for $19.95. This book includes 100 pages of secrets to buying a foreclosed home. In this new book, you'll learn:
To receive the "Foreclosure Home Buying Secrets" book for free, visit:
www.TheFreeForeclosureBook.com or call the real estate information center at: 813-653-1241.
For additional information contact: Dave Tipton davetipton@brandonsbeautifulhomes.com
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A rarity in the Tampa and Brandon area! One of the few that can claim that being a life time local, my knowledge and experience was a natural fit to become a real estate professional.
How did I get to where I am?
I feel fortunate to have lived in the Tampa/Brandon area all of my life and yet have seen a lot of the world. My travels are the result of time spent in the Navy that introduced me to parts of Europe along the Mediterranean Sea. North American travel was extensive during a 17 year employment with Eastman Kodak.
My last ten years with Kodak prepared me with the professional experience that would be incorporated into the real estate and mortgage business. As a national public speaker, trainer and coach for Kodak, I had the opportunity to discover what people want and need most.
What do most people want?
How does one find the right real estate agent to hire? The search can be daunting. Maybe you go by the most signs that you see along the roads and byways or maybe even the most bus benches. Perhaps the "Million Dollar" or "Multi Million" or even "Multi, Multi Million Dollar Round Table" agent would be your choice.
This is where the Kodak experience comes in. I never met anyone that cared whether Kodak was a major Olympic sponsor or had invented amateur photography. No, what Kodak understood was that people cared most about their Kodak moments. What people wanted most was their memories recorded forever.
I have found that home buyers are most interested in hiring someone that understands they want more that a house. What they want beyond a house is a home. Yes, a home that provides them their own Kodak moments. They want a house that will give them memories to hold and to cherish.
Interestingly, home sellers are not removed from that same kind of sentiment. Many would be surprised at how often I hear home sellers comment that they hope we find "just the right family" to buy their home. Their memories and moments in their home extend beyond the "For Sale" sign and to a hope that we sell to someone that will love the home as they have.
When we are asked to find a 3, 4 or 5 bedroom house, our mission is to find a house that will become their home!
Why Florida's Beautiful Homes?
Florida's Beautiful Homes gives us the ability to be the "Brandon Area" experts and provide the latest in web 2.0 marketing to our customers. Florida's Beautiful Homes has positioned us in the market for the next decade and we are truly excited about what the future holds for us.
LOCALISM: Brandon, Florida Area
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