Indian River, Martin, & St. Lucie County
Copyright © 2009
All Homes 4 Rent & Sales, Inc
2400 SE Veterans Memorial Parkway, Suite 211
Port Saint Lucie, Florida 34952
Office: 800-732-4707 Fax: 800-792-6812
All Homes 4 Rent & Sales, Inc
2400 SE Veterans Memorial Parkway, Suite 211
Port Saint Lucie, Florida 34952
Office: 800-732-4707 Fax: 800-792-6812
Copyright © 2009
All Homes 4 Rent & Sales, Inc
2400 SE Veterans Memorial Parkway, Suite 211
Port Saint Lucie, Florida 34952
Office: 800-732-4707 Fax: 800-792-6812
All Homes 4 Rent & Sales, Inc
2400 SE Veterans Memorial Parkway, Suite 211
Port Saint Lucie, Florida 34952
Office: 800-732-4707 Fax: 800-792-6812
Q: What is a real estate Short Sale?
A: A Short Sale (also called a Short Payoff or a Pre-Foreclosure Sales) is simply a sale of real estate by a seller to a third party buyer in the which the selling price is insufficient to pay off all of the seller's loans, liens and closing costs. As a result, the seller's Realtor petitions the seller's lender or lenders to reduce their loan payoff balance in an amount sufficient for the seller pay all closing costs and close escrow.
Q: Describe the Short Sale Programs that you offer?
A: We have three distinct Listing Plans to meet the Seller's unique needs, each requiring no cash out of pocket by the seller to close escrow:
1.Our standard Accelerated Marketing Program tailored to meet the Seller's needs;
2.Our 1 Week Short Sale Auction Program designed for immediate results and minimal inconvenience from buyer showings; and 3.Our Short Sale and Lease-Back Program for sellers who want to stay in their home after close of escrow. In this program we market mainly to investors who desire to buy a rental property
Q: What are the benefits of selling your home as a Short Sale rather than letting it go to Foreclosure?
A: If you are at risk of defaulting on your mortgage there are no disadvantages to attempting a Short Sale and if the Short Sale is successful there are many benefits, both financial and emotional, including:
1.The satisfaction of taking control of your outcome and selling on your own time and terms rather than a forced foreclosure and possible eviction; 2. Short Sale satisfies all mortgage debt, taxes and association liens whereas deficiency judgments are possible after a foreclosure; 3.The impact of a foreclosure on your credit is much more severe and will prevent you from financing another home for 5 years versus 2 years for a short sale based on Fannie Mae Underwriting Guidelines as of June 25,2008; 4.Short Sale properties typically sell higher and are better maintained preserving higher values in the neighborhood.
Q: Are there any out of pocket costs to sell my home as a Short Sale?
A: No, there is no required out-of-pocket cost to the seller in our Short Sale program. If you have no equity, we will petition your lender to reduce your loan balance and pay all costs of sale, including real estate commissions.
Q: I am behind on my mortgage and would like to try and keep my home before considering a short sale- What should my next step be?
A: Call your lender and ask to speak with their Loan Workout or Loss Mitigation Department. Depending your unique situation, they might offer you a repayment plan on the past due amount, or they may qualify you for a Loan Modification designed to make your payments more affordable. If those efforts fail, a Short Sale is likely your best option. Call us for more suggestions on dealing with your lender.
A: A Short Sale (also called a Short Payoff or a Pre-Foreclosure Sales) is simply a sale of real estate by a seller to a third party buyer in the which the selling price is insufficient to pay off all of the seller's loans, liens and closing costs. As a result, the seller's Realtor petitions the seller's lender or lenders to reduce their loan payoff balance in an amount sufficient for the seller pay all closing costs and close escrow.
Q: Describe the Short Sale Programs that you offer?
A: We have three distinct Listing Plans to meet the Seller's unique needs, each requiring no cash out of pocket by the seller to close escrow:
1.Our standard Accelerated Marketing Program tailored to meet the Seller's needs;
2.Our 1 Week Short Sale Auction Program designed for immediate results and minimal inconvenience from buyer showings; and 3.Our Short Sale and Lease-Back Program for sellers who want to stay in their home after close of escrow. In this program we market mainly to investors who desire to buy a rental property
Q: What are the benefits of selling your home as a Short Sale rather than letting it go to Foreclosure?
A: If you are at risk of defaulting on your mortgage there are no disadvantages to attempting a Short Sale and if the Short Sale is successful there are many benefits, both financial and emotional, including:
1.The satisfaction of taking control of your outcome and selling on your own time and terms rather than a forced foreclosure and possible eviction; 2. Short Sale satisfies all mortgage debt, taxes and association liens whereas deficiency judgments are possible after a foreclosure; 3.The impact of a foreclosure on your credit is much more severe and will prevent you from financing another home for 5 years versus 2 years for a short sale based on Fannie Mae Underwriting Guidelines as of June 25,2008; 4.Short Sale properties typically sell higher and are better maintained preserving higher values in the neighborhood.
Q: Are there any out of pocket costs to sell my home as a Short Sale?
A: No, there is no required out-of-pocket cost to the seller in our Short Sale program. If you have no equity, we will petition your lender to reduce your loan balance and pay all costs of sale, including real estate commissions.
Q: I am behind on my mortgage and would like to try and keep my home before considering a short sale- What should my next step be?
A: Call your lender and ask to speak with their Loan Workout or Loss Mitigation Department. Depending your unique situation, they might offer you a repayment plan on the past due amount, or they may qualify you for a Loan Modification designed to make your payments more affordable. If those efforts fail, a Short Sale is likely your best option. Call us for more suggestions on dealing with your lender.
