ADDvantage, a Florida based flat fee MLS firm, is helping Florida home sellers get their short sales done with less stress and more action.
The market conditions in Miami, Tampa, Jacksonville and Orlando have created negative equity for many home owners. Short sales are one way to get the lender to negotiate a sale for less the current amount due.
Selling a "short" using Flat Fee MLS is one way to go but typically the seller needs more help from the listing broker than flat rate provides.
ADDvantage has setup a short sale department to expedite the process.
Here are a few things that you should know about a short sale:
•1) A definition of a Short Sale is the sale of real property where the market price of the property is valued for less than all mortgages held against that property, or the loan balance. In order to make a sale happen, the lender must approve the offer amount and terms.
•2) The IRS treats short sale deficiencies differently depending on whether the short sale is a homestead/primary residence or an investment property.
•3) The seller should speak with their CPA or financial adviser before deciding on a short sale as opposed to other remedies.
•4) Your credit score will suffer but less than a foreclosure.
•5) The seller should call the lender and request a short sale package as soon as possible.
•6) The listing broker (flat fee or full-service) will need to determine value and be prepared to justify the listing price to the lender.
•7) All contracts/offers are contingent on third party approval as well as any commissions offered in the MLS to cooperating brokers/agents.
•8) Short sale "listing agreements" need to have this language to protect the seller..."The seller's obligation to perform on this contract is subject to the approval of the lienholders on the property. The seller may cancel this agreement prior to the ending date of the listing period without advance notice to the broker and without payment of a commission or any other consideration, if the seller tenders Deed-in-Lieu of Foreclosure."
The roll of the listing broker is to get as many offers to the lender as possible in the shortest amount of time. ADDvantage has a powerful Internet marketing presence to get offers coming. We have software that tracks all the details needed to get the short sale process moving as fast as possible. We work with another short sale specialist Al-Day Donaldson, a title company backed by lawyers.
For more information about ADDvantage handling your short sale, call 1-877-232-9695 or go to our flat fee MLS Florida website.
ADDvantage is Florida's most advanced flat fee MLS listing service. We are members of the following MLS Realtor Associations:
Amelia Island and Nassau County MLS/ Nassau County
Bay County MLS (Panama City MLS)
Citrus MLS / Dixie, Gilchrist, Levy Counties
Daytona Beach MLS / East Volusia County
Emerald Coast MLS(ECAR) / Okaloosa, Walton Counties
Englewood MLS / Sarasota County
Flagler MLS / Flagler County
Ft. Myers MLS/ Lee County
Ft. Lauderdale/Broward County
Gainesville MLS / Alachua County
Hernando / Hernando County
Manatee MLS / Manatee County
Marathon and Lower Keys-Florida Keys MLS / Monroe County
Martin MLS / Martin County, St. Lucie County
Melbourne-Brevard MLS / Brevard County
North-East Florida MLS /Duval, Clay, Putnam, St. Johns County
Ocala-Marion MLS / Marion County
PARMLS-Pensacola MLS / Escambia County
Pasco-Pinellas MLS (Pasco & Pinellas Counties)
Punta Gorda Port Charlotte North Port MLS / Charlotte County
Regional MLS/ Palm Beach County
Sarasota MLS /Sarasota County
St. Augustine & St. Johns MLS / St. Augustine & St. Johns County
Sunshine MLS of Naples / Collier County