If you are a real estate agent in the state of Florida and you are listing short sales please read this update.
Our Realtor Association of the Palm Beaches and the Florida Association of Realtors have been actively engaged in making sure that the new law that went into effect on October 1, 2008 - FS-501.1377, is understood by Realtors and that the duties are set forth clearly.
Since there was some discrepancies regarding what is required when a Realtor takes a short sale listing the Florida Association of Realtors requested that the State of Florida Attorney General's Office, Bill McCollum address this issue and clear this up for all of us.
Bill McCollum replied in a letter back to the Florida Association of Realtors that if the seller wants to list his house for sale with a Realtor and the Realtor figures out that this property is going to be short sale and does NOT charge any fees of any kind upfront or at any time during or at the end of the sale other than the Realtor's commission- then these activities do not fall under the provisions of 501.1377.
It is now against the law for anyone except for an attorney to charge upfront fees for doing a short sale. No companies may charge any fees until the short sale is completed. If you are using a short sale company who is going to charge a fee at the closing- then you are within the provisions and must use the proper disclosures and adhere to the 24 hour waiting period.
You can read the letter here:
You can read our short sale series at: www.Short-Sales-Florida.com.
Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.
Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.
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P.S. If you are listing your home as a short sale in Palm Beach County Florida and Port St Lucie Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales and Port St Lucie Short Sales.
Permission to repost, reblog or use this post to pass this information along By Katerina Gasset, with link back to original post here.*Florida Short Sales- Important Update From Florida Attorney General*
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