Orlando Short Sale Help Offered by
The Giff Group
407-445-7009
845-401-4345 (cell)
What exactly is an Orlando “short sale” in Real Estate?
A short sale is a process of which you sell your home for less than what it is worth. Short sales often occur in real estate when a lender comes to agreement in accepting a shorter pay off amount on a loan rather than what is owed to their property. When a Florida short sale transaction is in action, the borrower will be indebted more on their loans and liens versus their property’s worth at its current market value. Also, a lender will only agree to a short sale generally when the borrower can give account that they are in some type of hardship.
Now more than ever, people all over the country have been
suffering from financial distress. With loss of employment and poor mortgages
increasing among other things, the real estate market is affected. In some states, one/fifth of the homeowners
today turns out to be delinquent when paying their mortgages.
How do I qualify for a short sale in Orlando?
There are normally three qualifications required for a short sale. First, there is financial hardship. Such hardships that qualify are: loss of employment or income, divorce or separation, relocation or job transfer, property in need of repairs without resources to make repairs, major sickness and medical expenses, death of a family member, vacant rental properties, etc. The next qualification would be that the proceeds of the sale of the property, after all closing costs are paid, are less than the amount currently owed on the home. The final qualification would be Financial Insolvency (no other major assets).
Can my current Orlando short sale Realtor® help me?
Look carefully at this question. Short sales were specifically designed to be cared for by experienced Orlando Short Sale Agents who have achieved many short sales under their belt and can display the evidence. There are Short Sale Realtors who brag of taking on a short sale, but keep in mind to examine the so called proofs to those claims. Starting a short sale only to see it rejected would be heartbreaking so don’t let an incompetent Realtor who claims of being able to bring you to a successful completion of your short sale fool you. Once you seek out a Orlando Short Sale Specialist, make sure you have a list of questions you would like them to answer and be sure you are at complete ease with their assistance. Remember, proper training is important for the short sale process; however, I do believe there is no substitute for experience. A weekend training course does not make somebody an expert in short sales. I am a Florida short sale specialist and can offer you no cost assistance to guide you in the Orlando short sale process.
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Article written by Sandy Giff/ Associate Broker/ Keller Williams Realty/ 407 445 7009...Orlando Short Sale Specialist.
