short sale: Short Sale Confidential! - 04/30/09 09:21 AM here’s a good one for you. What are you doing to ensure your Short Sale Submission Package is kept confidential? More importantly, what are the Lenders doing to ensure this information is kept confidential?Let me be a little more specific. How can we guarantee to our Sellers that their bank statements, tax returns, financial statements and social security numbers are not being stolen/sold/copied/shared by the hourly employee who receives the Short Sale Submission Package on the other end?Have you thought about this before? Do you have a solution? I don’t.

short sale: Does "Short Sale" have to be disclosed? - 04/18/09 11:04 PM
“There is no state or federal law that requires a seller to provide any disclosure forms for a short sale.” This is from one of the attorneys for out Florida Association of Realtors.I wonder how he reconciles that statement with this:A Seller of a residential property, whether a bank or an individual and regardless of whether the seller occupied the property, is obligated under Florida law to disclose to a buyer all known facts that materially affect the value of the property which are not readily observable and are not known to the buyer. The disclosure obligation can be fulfilled via … (171 comments)

short sale: How to Buy Short Sales In Central Florida - 04/04/09 09:38 AM
Broker Bryant,
I have never purchased a home on Short Sale thus I am unfamilar with the term, does it mean they will entertain offers?  Does a Short Sale mean it might be foreclosed on? 
Thanks,Mr. Needer Know         
Hi Needer, When purchasing a Short Sale the negotiations are between  the Buyer and the Seller. Once price and terms are agreed a contract is signed by both parties and the property goes into pending status. A part of the purchase agreement is an addendum stating that the purchase is contingent (subject to) the Seller's Lender agreeing to accept less money (short) than what … (17 comments)

short sale: Third Party Approval.....What's The Big Deal? - 04/02/09 08:03 AM
Hi folks. Today I want to put a different spin on Short Sales and third party approval. I've read a lot of posts and comments about the dreaded 3rd party approval and how frustrating it is for Buyers and Buyer's agents. 
My thought on this's about time!!! As a listing Broker, my Sellers and I, have spent a lot of time waiting for Buyers to get their mortgage approval. Some took 30 days and some took 90 days. Some didn't close at all.  
When negotiating offers we relied on information provided to us from the Buyer's Lender stating they were … (20 comments)

short sale: FAQ: Why do I have to pay you an upfront fee to list my Short Sale? - 03/22/09 12:28 PM
Broker Bryant,
We'd like to list our property with you but just don't feel comfortable paying $xxx up front to list the property. We can list the property now and as soon as you get a contract we will be more than happy to pay.
Thanks, A. Little Hesitant
Dear Mrs Hesitant, 
I do understand your concerns. There are plenty of REALTORS(R) that will list your property and not charge an upfront fee. They may even be experienced in Short Sales. However, I don't handle my business that way.Short Sales are complicated and time consuming. There is also no guarantee that your lender will … (31 comments)

short sale: Why do Short Sales? - 03/08/09 11:36 AM
Yesterday, Janie Coffey and I were invited to participate on a teleconference hosted by Jennifer Allan about short sales. If you didn't tune's the replay (Please remember this is copyrighted material so check with Jennifer if you want to use it). 
My portion of the seminar was........Why do Short Sales? I was fist so please check it out and let me know how I did. I've only done two of these seminars so I'm still trying to figure them out. What I learned this week is that I talk too much!!!!
Here's a very small portion of the transcript.
You've probably … (61 comments)

short sale: Central Florida Short Sales, Upfront Fees and Anti-Trust . - 02/26/09 09:13 AM
John MacArthur wrote a post yesterday expressing his disapproval of a Real Estate Company in his area that charges Short Sale Sellers a fee in addition to the commission. John’s opinion is that this is taking advantage of people. I thought his opinion was way off base. But hey…..that’s just my opinion. Go read his post and form your own. 
My question to John was “Is it the fee or the amount of the fee that has you riled?” I asked this question for two reasons. 
1. If it’s the AMOUNT of the fee then I would consider his opinion a possible … (35 comments)

short sale: Every Picture Tells A Story Don't It? (Rod Stewart) - 02/12/09 09:01 AM
As most of you know by now my market area is in the pits. Foreclosures and Short Sales abound. Property values have plummeted almost 65% in the last 24 months. Properties that sold for $350,000 can now be had for as low as $100,000 in some areas. Deals are every where.
Since I specialize in selling Short Sales and Foreclosures business is booming. I have so many Buyers wanting to "purchase a deal" that I can't get to them all. 
"More business than I know what to do with." I can't even count how many times I have said that in the last … (43 comments)

short sale: Short Sales Are Serious Business And Require Serious Minds. - 01/03/09 07:19 AM
Hi Folks. Brian Brady wrote a featured post yesterday and my comments started going off on a rant about short sales so I decided I best write a post to voice my opinion.
Let me say that whether you like short sales, want to do short sales or want to avoid short sales, they are here to stay. Short sales are a major part of the market and in my opinion will become even more so. Lenders WANT to do short sales. A successful short sale cuts losses and keeps the lender from owning a declining asset. 
This post is about taking control of the … (66 comments)

short sale: I think I'm stuck in a Short Sale time warp!!! - 12/19/08 08:04 AM
Hi folks. It seems like only yesterday that we started hearing about short sales, foreclosures and financing issues. That's why I was a little surprised when I fouind this post that I posted in December of ........2006!!!!! No wonder I'm tired.
Three blind mice, three blind mice......blah blah blah.
Lately, as anyone knows who has been reading my Blog, I have been dealing a lot with short sales and pre-foreclosure listings. Since I am not an attorney and cannot give legal advice, I always recommend to these Sellers, that they seek competent legal counsel. Most do. In addition to this, I … (27 comments)

short sale: Central Florida Short Sales FAQ#3 - 12/08/08 08:35 AM

  What goes in the Hardship Letter? 

This outline will help you prepare your hardship letter. The sample answers are to assist you NOT to just be copied. Your hardship letter should only contain facts. Just be honest. Your goal is to explain to your Lender why you can no longer make the payments for your property. This letter should be handwritten and legible. 

TO: Countrywide Mortgage
FR: Paul and Suzie Helpus
RE: 1234 Lost Value Ave. Poinciana FL 34759
LN#: 34578903

First Paragraph-Explain what you want 
We are requesting that you … (20 comments)

short sale: ASK THE BROKER.....What Is 3rd Party Approval? - 12/04/08 09:17 AM
Hi Broker Bryant, 
Thank you for the sample short sale submission letter, I found it to be very helpful. I am currently closing on a short sale and picking up a couple more tomorrow. 
I have a couple of questions .... You stated... "Just remember, you are submitting a fully signed and accepted contract and asking the lender to remove the 3rd party approval. You are not asking them to accept the offer. The lender is not a party to the contract." 
My questions are: 
1. What is the 3rd party approval on a short sale … (14 comments)

short sale: Central Florida Short Sales FAQ #2 - 12/02/08 08:40 AM
What is a hardship and why do I need one? 

A Short Sale is one of several pre-foreclosure remedies. In order to request a Short Sale, from your Lender, you must have a hardship AND you have to be able to prove it. It has to be a legitimate hardship. 
Noun1. conditions of life that are difficult to endure 2. something that causes suffering 
A hardship is anything that makes it where you can not afford the payments on your house. A hardship is something drastic that has happened to your financial situation since you borrowed the … (14 comments)

short sale: Central Florida Short Sales FAQ #1 - 11/30/08 07:45 AM
What is a Short Sale?
A Short Sale is when you need to sell your property but the amount owed exceeds the value of the property AND you are asking the lien holder (lender) to accept less to remove the lien. You are asking your lender to accept a "short" payoff so you can sell and they can avoid the expense of a foreclosure. 
For example: You bought your house in 2005 and paid $250,000 for it. You mortgaged $230,000. You can no longer afford to keep the house because of a legitimate hardship. You MUST sale or you will be … (13 comments)

short sale: Need Short Sale Information? - These Articles Probably Answer Your Question - 11/24/08 08:08 AM
Great short sale information from Richard Zaretsky, Attorney at Law in Florida.
A Monthly Updated Listing of Articles by Richard P. Zaretsky, Esq  --  Richard Zaretsky's Short Sale Blog Articles
Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make.  This article is for information purposes and is not specific advice to any one reader.
Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 … (16 comments)

short sale: Poinciana Florida Short Sale For Sale - 11/16/08 12:14 AM
Tutas Towne Realty specializes in pre-foreclosure remedies and Short Sales. If you are a property owner who is struggling with your mortgage payment or a Buyer looking for a good deal let us know. We CAN help. All conversations are of course confidential. Do NOT get foreclosed on. Please let me help.
102 Big Sioux Dr Kissimmee Florida 34759

You won't find a better house than this for the money. Tile flooring in kitchen, dinette, entry and all 3 bathrooms. Formal living and dining rooms. Two family rooms, one upstairs and one down stairs. Bonus room downstairs … (9 comments)

short sale: Kissimmee Florida Short Sale saga continues........... - 11/06/08 08:53 AM
Hi folks. Today, I spoke with Countrywide (CW) about one of my short sale listings. This particular home was placed on the market back in July of this year. I priced it properly and within a few weeks submitted a cash contract to CW for $87,000. Since the 3 most recent sales were for $85,000, $87,000 and $90,000 I figured CW would jump all over this deal and remove their 3rd party approval so we could move toward closing..... WRONG!!! 
After many attempts I could not even get this transaction in front of a negotiator. I tried and tried and tried … (34 comments)

short sale: Short Sale Submission Made Easy. I Hope This Helps!! - 10/30/08 09:10 AM

Hi folks. I'm sure there are many of you that are either doing short sales or want to do short sales. Therefore, I am posting this sample cover letter that may help you when submitting a short sale package to the lender. Just remember, you are submitting a fully signed and accepted contract and asking the lender to remove the 3rd party approval. You are not asking them to accept the offer. The lender is not a party to the contract. The offer has already been negotiated and accepted by the Seller.
Also, check with your Broker and your State's laws … (50 comments)

short sale: Finally.....The Real Estate Market Is Normal!!! - 10/20/08 09:59 AM
Hi folks, it seems like just yesterday that my business consisted mostly of listing properties for Mr. and Mrs. Regular Seller. I spent a lot of my time preparing print ads, brochures, virtual tours and making sure I got the properties disseminated throughout the Internet. When I wasn't doing these things I was busy arranging showings, negotiating deals, talking with my Sellers and fielding Buyer calls. Life was good. I was busy helping folks move up or move on. It felt good to help and everyone I had contact with seemed to be in good cheer. 
Now those times are just … (38 comments)

short sale: No Short Sale For You!!!! - 10/17/08 10:13 AM
I HATE strongly dislike having transactions fall apart at the last minute. Last Friday, I was supposed to close on one of my Poinciana Florida short sale properties. It was a pretty difficult deal that required almost 3 months of negotiating with Wells Fargo. 
After many days of going back forth on the negotiating of a promissory note we finally arrived at an agreement between Wells Fargo and the Seller and received the written "Short Sale Approval". All was right with the world!!! 
The next step was to make sure the Buyer was still on track by getting a closing date … (48 comments)

Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) Rainmaker large

Bryant Tutas

Selling Florida one home at a time

Winter Garden, FL

More about me…

Tutas Towne Realty, Inc and Garden Views Realty, LLC

Address: 628 Grand Canal Dr, Poinciana, Fl, 34759

Office: (407) 870-9003

Mobile: (407) 873-2747

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