Although written disclosures are not required by Florida Law, those Sellers who are being represented by a Real Estate broker will most likely be asked to complete a thorough document that addresses issues such as title defects, code violations, water intrusion, evidence of termites, personal property that will be sold with the property and more.
This document is what is often referred to as a "Sellers Disclosure" and is typically made available to Buyers who are interested in submitting an offer on a home so that the Buyer is aware of what "issues" the home may have and can write their offer accordingly.
Unfortunately though, over the last several years, there has been a growing trend of Sellers who are not completing disclosures as they believe that because they never occupied the property, they are excused from disclosing what they do know. Many Sellers also believe that if they market the property "as-is" that they will minimize their liability by shifting the responsibility to the Buyer.
That line of thinking is not only inaccurate, but a dangerous position for a Seller to take. As a matter of fact, there has been more than one lawsuit filed and won in Florida where a Seller claimed they did not need to complete a disclosure since they never occupied the property, but did have knowledge of a material defect that they should have disclosed and didn't.
For example, just because a Seller fails to put in writing that they know the house had termite damage doesn't mean they can't be liable later if the Buyer can prove the Seller had the knowledge and didn't disclose it.
With that being said...
If you are a Buyer, it's smart to request that the Seller complete the disclosure forms and for you to review them, prior to writing your offer. If they won't, you might ask yourself why.
If you are a Seller, by disclosing what you know, you are more protected than if you were to hide the information and have it found out by the Buyer later. Remember, just because you don't put what you know in writing doesn't mean you aren't responsible any longer.
For more information on writing an offer on a home that is being marketed "as-is," contact me at (321) 377-0157. I value the opportunity to represent Buyers and advocate to protect them at all times.
LaShawn Norden, PA, REALTOR, RE/MAX Central Realty, (321) 377-0157, LaShawn@LaShawnNorden.com
In today's market, having a well written letter of loan approval from a recognized mortgage lender is crucial!
As a matter of fact, if you are planning to buy a home in Central Florida, it's becoming more and more common for listing agents and Sellers to require that the Buyer be pre-approved for a loan prior to even seeing their home.
With the "meltdown" of the mortgage market, the underwriting guidelines for most programs have changed significantly over the past year and continue to do so on an ongoing basis. While getting "pre-qualified" may have been good enough in years past, it's proving not to be good enough today for many Sellers.
"Pre-qualification" for a loan simply means that the borrower (hoping to become a Buyer) has provided verbal information to the lender and as a result, the lender has issued a letter to the borrower stating that they are "pre-qualified" but that "loan approval" is contingent upon verification of what the borrower has shared verbally. This is the weakest proof of ability to buy.
"Loan approval"is when the borrower has gone one step further and the lender has verified the borrower's credit score, income, assets, debt, money needed to close, employment and other conditions of the loan program the borrower is applying for and after review, the lender "approves" that borrower for a specific loan amount.
At that time, the lender also shares with the borrower what their estimated monthly payments will be, including the principal, interest, taxes and insurance so that the borrower is well aware of what type of mortgage payment will be associated with that specific loan amount.
Short of securing a "loan commitment," which is the strongest form of an approval (as the lender has already submitted the documents related to the borrower and the property they are purchasing to a underwriter), a "loan approval" is accepted by most Sellers and their Real Estate agents as documentation that the borrower is qualified to purchase the home they are making an offer on.
While there may be an excess of inventory on the market in most areas, if a Buyer wants to assure that the Seller will take their offer seriously, it's wise for them to ask their lender to provide a well written loan approval letter that communicates the following (at a minimum):
Even though there may be fewer opportunities today when a Buyer's offer is in competition with others, it's always smart to assume that the Seller will weigh the approval letter as strongly as they weigh the contents of the offer.
As a Buyer's Agent, I make sure that every offer I write on behalf of my customer is accompanied by a well written loan approval letter. As a result, the Buyers I advocate for almost always have their offer accepted!
To find out additional ways to position your offer to win, contact me at (321) 377-0157.
LaShawn Norden, PA, REALTOR, RE/MAX Central Realty, (321) 377-0157, LaShawn@LaShawnNorden.com
While the title of this Blog post may have a different "meaning" to you, for me...it only seemed appropriate after reviewing some recent "invitations" I've received from clients who have become friends over the years.
As a full-time Real Estate agent who has been in the business for seven years now, I've been honored to represent hundreds of Buyers and Sellers and am proud to say that I have developed friendships with many of them.
Over the years, I've been invited to and attended, weddings, baby showers, funerals, anniversary parties, birthdays, housewarming parties, divorce "celebrations," family BBQ's, neighborhood block parties and graduations. Sometimes my social calendar is busier with events from past clients, turned friends, than it is with my own family activities!
While some Real Estate agents may shy away from becoming friends with their clients as they believe it's not good for business to blend the two...I am not one of them! I truly enjoy developing a relationship with my clients and can honestly say that while it is the commission check that pays the bills, it is the friendship that pays the dividends.
Each day I am blessed with emails, phone calls, invitations and requests by those that I once referred to only as clients that I am now able to call "friends," which to me...is the true "benefit" of being a REALTOR.
Wouldn't you agree?
"REALTOR for Life" and "FRIEND for Life" too!
RE/MAX Central Realty, (321) 377-0157, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com
Central Florida Real Estate Professional, Lake Mary, Winter Springs, Longwood, Altamonte Springs, Casselberry, Sanford, Winter Park, Windermere, Oviedo, Orlando
According to a recent press release by the Florida Association of Realtors, Orlando and Phoenix have been selected to be part of a pilot project launched by Fannie Mae in hopes of reducing foreclosures by pre-approving short-sales.
As many homeowners and their Real Estate agents have discovered, in the past, it could take three months or longer to get approval for a short-sale. In that time period, prices continued to decline and Buyers often got frustrated and walked away from the sale...only to leave the Seller facing foreclosure action after months on the market and countless hours of time dedicated by them and their listing agent...
This new pilot, which focuses on homes that have a Fannie Mae backed mortgage that is serviced by Countrywide Financial Corporation is intended to shorten the time period needed for a response from the bank once an offer is received since the proposed "short" is noted at the time of the listing.
Although the details of exactly how the program will work and if Countrywide has the staff in place to manage the expected surge of calls they will receive is not known, it is expected that once the program is underway and it's success is determined, that other banks may follow suit.
In my opinion, this is a much needed program in the Orlando market and I look forward to being a part of the solution!
If you or someone you know has a mortgage with Countrywide and needs to sell their home, but has been unable to do to the current market conditions, I'd welcome the opportunity to speak with them.
Serving Orange, Seminole and Volusia County, including Orlando, Winter Garden, Windermere, Lake Mary, Longwood, Altamonte Springs, Sanford, Winter Springs, Oviedo, DeBary & Winter Park.
LaShawn Norden, PA, REALTOR, RE/MAX Central Realty, (321) 377-0157, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com
The Only Florida Native You'll Need!
Now, now...stop thinking naughty. This is a Real Estate blog post that is rated G. I promise.
As a full-time Real Estate agent who has represented many Buyers in the past several years, I've come to realize that you must KISS them sometime during the buying process.
What, you say?? KISS?
Yes. KISS.
Keep It So Simple.
In almost every transaction I have ever had with a Buyer, I've been asked to further define a term or description used by another Real Estate agent.
For example, just this year, I've been asked what a "zero lot line" is, what "split bedrooms" are, what the term "does not convey" means and, if a "short sale" means that the Buyer will have to close fast.
These questions are being asked by Buyers currently in the market who may or may not have purchased homes in the past and who are looking at the "descriptions" of homes on house flyers, in the multiple listing services or on other Real Estate related websites trying to decipher what the description really means.
While some terms may very well be everyday "lingo" for REALTORS, some phrases or descriptions are not well understood by Buyers....which reinforces the suggestion to Keep It So Simple.
As an educator at heart (and by degree), I believe that Real Estate agents should be conscious that just because a term is known within the industry, doesn't mean that it's understood by the consumer.
Keeping things simple guarantees a smoother transaction and a well-educated Buyer, which is a win-win scenario for everyone!
If you are a Buyer seeking education from a Real Estate agent who is willing to share information and explain the home buying process to you in terms that you can understand, I'd be happy to schedule a complimentary consulation with you.
Representation & Education of Buyers in Seminole County which consists of Lake Mary, Sanford, Winter Springs, Longwood, Altamonte Springs, Oviedo, Casselberry, Winter Park and Maitland.
LaShawn Norden, PA, REALTOR, RE/MAX Central Realty, Lake Mary. (321) 377-0157, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com
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REALTOR & advocate for BUYERS, SELLERS & RELOCATION clients in Central Florida! Education, communication & negotiation are my passion & the key to a client's success~Serving Seminole & Orange County
A Seminole County resident for more than 35 years, I can and do share my knowledge of each city and the neighborhoods within those cities with both Buyers and Sellers. Being a Central Florida Native, I spent my early childhood years as a resident of Orlando, Maitland and Altamonte Springs. When I was 10, my family moved to the city of Lake Mary, Florida where I went to school at Lake Mary Elementary, Lakeview Middle (which is now Millenium Middle School) and Lake Mary High School. After graduating from high school in the late 80's, I worked at the Central Florida YMCA in Lake Mary and for the Seminole County Regional Chamber of Commerce before starting my real estate career in 2002. As the Marketing Director for the YMCA and a Sales Consultant for the Chamber, I learned valuable methods of advertising and developed many beneficial relationships with area business owners and individual homeowners...all of which have been the reason for my growing success in Real Estate. It is my belief that Buyers and Sellers alike deserve an agent who will listen to their needs, understands and explains the process and is more concerned about building a relationship than in getting a sale. I pride myself on my response time, communcation skills and knowledge of the Central Florida marketplace and look forward to continuing to build lasting relationships for the next 25+ years! Fortunately, for the last five years, I have been ranked in the top 5% of agents in the Orlando marketplace and wish to continue to offer exceptional service to many more over the course of my career. We have four children: RJ, Nickolas, Konnor and Elvis (our Puggle)! We live in a Cambridge Home that my husband built in a small Sanford community in Seminole County near Lake Mary and Winter Springs.
My husband, Rick, is a residential building contractor who owns his own company, Priority One Homes. He specializes in home renovation projects such as bathroom remodels, room additions, painting, drywall, crown and trim work and general household improvements...which of course, means we talk a lot about homes and real estate in our household!
I am dedicated to my family and my clients and truly enjoy being an advisor to those I work with! I hope to have the opportunity one day to add you to my list of clients and friends as I want to be the only "Central Florida Native You'll Need!"
I have consciously made efforts to extend my knowledge and experience to all clients, regardless of their price range or level of experience. I have successfully represented first-time homebuyers as well as clients selling or buying million dollar homes and every price range in between!
Because I have lived and worked in Seminole County and Orange County for more than 35 years, the areas I feel can best service clients are:
Lake Mary, Longwood, Sanford, Winter Springs, Altamonte Springs, Casselberry, Fern Park, Oviedo, College Park, Winter Park, Windermere, Winter Garden, Ocoee, Orlando and Apopka...all of which are in Central Florida!
Because I have school-aged children also, I particularily enjoy working with families with children. I am very knowledgable about the area schools, recreation opportunities, YMCA locations and other interests that families might have and can relate to those who have similar interests.
Although there are many directions one can take when having a real estate license, my areas of expertise are: Buyer representation & negotiation with new home construction; Buyer and Seller representation with their home, condo or townhome sale or purchase; Buyers and Seller representation with their luxury home & estate sale or purchase and Buyer representation for those seeking investment opportunities in the residential market.
For those interested in commerical property, property management, short and long term rentals, leasing, vacation homes and time share, I do not feel that I am the best agent to service your needs...but I am happy to refer you to an experienced and effective agent who does specialize in those areas.
I am a member of the National Association of Realtors, Florida Association of Realtors and the Orlando Regional Realtor Association.
I have advanced certifications as a Accredited Luxury Homes Specialist and as a Transnational Referral Certified agent.
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