Why it's important to choose an experienced Orlando Short Sale Agent

By
Real Estate Broker/Owner with LemonTree Realty

Orlando Short Sale ExpertIt's very important when considering to short sale your home that you have an experienced agent on your side. One that has certifications, like a CDPE and proof of prior deals that have successfully closed. Here's why, this weekend I received a call from a clients uncle who is handling his mortgage. The nephew was referred to me at the end of the year by a prior client. After speaking with this young gentleman and helping him some he decided to buy a short sale that he saw driving around. Well this uncle has now called me back 3 months into this deal and no real movement, I told him if he wanted me to help his nephew I would.

After speaking with the nephew today I learned not only is he paying too much for this house the house he has been waiting over 3 months for wasnt a true short sale scenario.

 

After digging around in public records I see the home owners have a mortgage of $147,000 the contract is for $165,000. They at some point and time took out a second mortgage. Now if the sellers had gone with an Agent that was experienced in short sales here in Orlando they would have had a much easier time closing on this property. The first mortgage is not being shorted, it's simply a regular sale with $18,000 left over. So the unskilled short sale agent decided that the first needed to go through the whole short sale process when it really didnt and wasted over 3 months.

 

It could have been simple. Go to the 2nd lein holder tell them the first is not being shorted you will receive $18,000 more then you ever would if we dont sell this and the value continues to drop or it goes to foreclosure because the sellers arent paying and within 30 days it should have been an easy short sale process and also would not have negatively impacted the sellers credit the way it is now.

 

When looking to sell your Orlando home as a short sale make sure to go with an experienced agent that is certified and has verifiable short sales under their belt. We recently had an Indymac short sale approved in under 21 days and another Suntrust short sale package approved in just 59 days. Our team works hard to get your home under contract and more importantly see it through to closing! 

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Heather Unger, GRI, NRBA, CLHMS, CDPE, WinDs

RE/MAX Central Realty

www.HeatherTheRealtor.com     (407) 810-6304

Our Team Specializes in Luxury Real Estate, First Time Home Buyers, Short Sales, Bank Owned Real Estate, REO & Foreclosure Properties

Servicing Real Estate Needs in: Lake Mary, Longwood, Winter Springs, Sanford, Altamonte Springs, Oviedo, Orlando, Downtown Orlando, Thornton Park, College Park, Winter Park, Maitland, Windermere, UCF, Lake Nona, Baldwin Park, Apopka, Ocoee & Winter Garden

 

Comments (3)

Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have many people in my area calling me to do their short sales. I have a team in place

Mar 07, 2010 03:02 AM
Drick Ward Property Management / Broker Assoc
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation

We have seen instances where the second lienholder refuses to accept less if the first lienholder is getting their full note.  If that was the case, it could be that the second is forcing it into short sale.  However, every transaction is different and you are so right in urging sellers to utilize someone who knows what they are doing and has successfully done it.  Agents should also be more forthcoming and if they don't know what they are doing, they should refer to someone who does--you owe the client that much respect.  Good post, thanks for sharing.

Mar 07, 2010 03:05 AM
Ed Macias
Real Estate Teammates - Miami, FL
Miami FL-REO Property Management Multifamily

Your absolute correct. But how does the general public know who to choose or at least begin looking at first. CDPE agent is a great starting place in most instances.

May 07, 2010 04:07 PM