Vadala Realty : Call 239-898-2120 We Can Help: Guaranteed. Free Consultation.
What is a Short Sale?
In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale.
Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market climate and the individual borrower's financial situation.
A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history. Additionally, a short sale is typically faster and less expensive than a foreclosure.
In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount.
Lenders have a department (typically called a loss mitigation department) which processes potential short sale transactions. Typically, lenders do not accept short sale offers or requests for short sales until a Notice of Default has been issued or recorded with the locality where the property is located. Lenders have to approve of any buyer's or listing agent's commission in advance, a primary reason for non-brokered short sales with a specialist or facilitator to save on the margin. Many of these facilitators work with a private lending party for their financing, such as a partner or syndicate.
Lenders have a varying tolerance for short sales and mitigated losses. The majority of lenders have a pre-determined criteria for such transactions. Other distressed lenders may allow any reasonable offer subject to a loss mitigator's approval. "Red tape" is very common in short sales, similar to REO and HUD properties, requiring potentially multiple levels of approvals and conditions. Junior liens, such as second morgagees, HELOC lenders, and HOA (special assessment liens), may need to approve of the short sale. Frequent objectors to short sales include tax lieners (income, estate or corporate franchise tax - as opposed to real property taxes, which have priority even unrecorded) and mechanic's lien holders. It is possible for junior lien holders to prevent the short sale.
While it is frequent if not common for a lender to forgive the balance of the loan in question, it is unlikely that a lien holder that is not a mortgagee will forgive any of their balance. Further, it is common for a lender to omit updating the zero balance and settlement option on the mortgagor's credit report, or even flat refuse to do so "due to their financial loss."
How To Do A Short Sale
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose.
As a real estate broker, I am not a lawyer nor a CPA and cannot give any legal advice. However, I work hand and hand with many lenders in this area. We have successfully closed many short sale deals this year. We have a good record in success. Give me a call at 239-898-2120 for more information or email me at tony@vadalarealty.com
Be aware the Internal Revenue Service. will consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.
Call the LenderYou may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision. Lenders we have a relationship with: Vadala Realty Contacts
Submit Letter of AuthorizationLenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
Property Address
Loan Reference Number
Your Name
The Date
Your Agent's Name & Contact Information
Preliminary Net SheetThis is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.
Hardship LetterThe sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
Proof of Income and AssetsIt is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lender are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
Copies of Bank StatementsIf your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
Comparative Market AnalysisSometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes
Active comparables on the market
Pending sales in your area.
Properties that have sold in the last 6 months.
Purchase Agreement & Listing AgreementWhen you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions.
Services
If your were to hire a lawyer to do all these service for you it would cost thousands $$$$ of dollars for their services. We offer all theses services above plus negotiating on your behalf .
Our upfront fee for theses services range from $500-$1000 per listing (Non-Refundable). This is a small price to pay to save your credit.
We will then list your property for 6% commission which will be paid to us from the lender's proceeds.
Now if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.
So, is the borrower off the hook?Not necessarily. The lender still has options to try to collect this shortage. As a condition of the short sale the lender may require the borrower to sign a note to repay the shortage. They may also file a collection or a judgment for the amount of the shortage. This is something that an attorney with expertise in this area of real estate needs to be consulted.Also, the IRS may come after the borrowers for income taxes on the amount of the shortage. If the shortage was forgiven, the lender will report the shortage as income to the IRS and the IRS will collect taxes on this amount. Again, for the specifics on this please consult a tax professional.
The Mortgage Forgiveness Debt Relief Act of 2007
When the lender decides to forgive all or a portion of a borrower's debt and accept less, the forgiven amount is considered as income for the borrower and is liable to be taxed.
However, after the signing of The Mortgage Forgiveness Debt Relief Act of 2007 by President Bush, amendments have been made to remove such tax liability and allow the borrower and lender to work freely together to find a common solution that is beneficial to both parties. This protection is limited to primary residences so consultation with a tax advisor is necessary.
Foreclosure Deficiency Judgment
How Vadala Realty will Market and Sell your property.
Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs. Large oversized companies can't give you that personalized service. We all have the same amount of exposure, no matter how many offices or agents. The Multiple Listing Service is working for all of us the same no matter what size you may be. The differences between Vadala Realty and other companies is we can offer personalized service! So don't be fooled by all theses statistics agents sell you on. Vadala Realty is committed to providing quality service to all of their clients and to ensure your property is marketed to an optimum level and receives high market value. I am available to my clients 24/7 for any questions or concerns they may have. Below is Vadala Realty's marketing plan for you. Communication & Trust is a strong foundation to success. 1. View and Photo Home, make recommendations on how to increase the value to Market the Home the most effective. 2. Agree on Price, Terms and Financing 3. Submit personalized Listing to MLS 4. Install a distinctive sign and Lockbox 5. Team up and run a campaign with the Real Estate Book for all lee county Multi Media Marketing homes6. Local advertising with Realtor.com National advertising in the duPont Registry on listings over 1.5 Mil. dupontregistry.com7.Internet marketing on our website www.sellcapecoralflorida.com , www.listhub.net, www.listingbook.com and the major search engines like Google, Yahoo, MSN, Ask.
8. Email 81 Million Target Prospects Monthly. That's 2.7 Million Target Prospects a Day! http://www.webtrafficmarketing.com/
9.State-of-the-art Technology ( Talking House) 10. 24/7 Appointment service and showings11. Hold Open House for Public & Brokers 12 Phone All Potential Buyers in our data base with Details of Listing 13. Follow Up on Open House for Public & Brokers 14. Mortgage Broker referrals for buyers. Title company referrals for sellers 15. Help make the transaction for the buyers and sellers as simple as possible (available 24/7 car internet access)16. Give You a Status Report & evaluate anything I can do better to met your goal. 17. Go Over Any Changes 18. Review Pricing 19.Create or revise Marketing Plan if neededRemember you always want to look for an agent that is honest, assertive, and one that best understands your needs. www.vadalarealty.com
Wednesday, June 18, 2008
Saturday, June 7, 2008
Looking for more realtors in cape coral florida
Hello,
My name is Tony Vadala and I am the broker of Vadala Realty. At this time I have 50+ realtors working for my company. I am seeking more experience agents to handle all the sales that are happening here in Lee county. I offer a great money making program that works for all.
As of today our company is in the top 20 for cape coral.
If you are interested please give me a call at 239-898-2120 or email me at tony@vadalarealty.com
My name is Tony Vadala and I am the broker of Vadala Realty. At this time I have 50+ realtors working for my company. I am seeking more experience agents to handle all the sales that are happening here in Lee county. I offer a great money making program that works for all.
As of today our company is in the top 20 for cape coral.
If you are interested please give me a call at 239-898-2120 or email me at tony@vadalarealty.com
Friday, June 6, 2008
Properties have been reduced by sellers and lenders for quick sales. "Unbelievable pricing"
Looking for a foreclosure or discounted property? You have found the right real estate company to assist you. Here are 2 sample links of some properties Foreclosure Homes & More Foreclosures
Their are 100's of properties to view. Pending sales in January for this area was 159 and for the month of February over 750 pending. March was better at over 850
Our office has access to the largest foreclosure list in lee county.
If you would like to receive a list of available properties you have 2 options;
1) Stop by our office and we will give you a FREE list with addresses.
Our address: 1211 Miramar ST. Cape Coral, Florida (239)214-2110
2) Click Here: Contact Us
Back to : www.sellcapecoralflorida.com
Their are 100's of properties to view. Pending sales in January for this area was 159 and for the month of February over 750 pending. March was better at over 850
Our office has access to the largest foreclosure list in lee county.
If you would like to receive a list of available properties you have 2 options;
1) Stop by our office and we will give you a FREE list with addresses.
Our address: 1211 Miramar ST. Cape Coral, Florida (239)214-2110
2) Click Here: Contact Us
Back to : www.sellcapecoralflorida.com
Thursday, June 5, 2008
Buy real estate with your IRA
Attention: Baby Boomers and Disappointed Investors!
Are you tired of waiting for the stock market to bail you out?
Would you like to stop your retirement savings from losing ground?
Would you like to profit from the housing slump that is destined to recover?
Would you like to provide a financially secure retirement for you and your spouse?
If you have answered yes to any of the above questions, you should consider buying "quality" residential real estate now in Florida, where the Baby Boomers are headed! The housing market slow down is a blessing in disguise - It is the opportunity we have been waiting for. Prices are the lowest they have been in years. Investing now where Baby Boomers are headed could be your key to a financially secure retirement. And one of the very best ways to make quality real estate investments is through a self-directed IRA or similar self-directed tax-advantaged retirement accounts, including the 401(k) and the new Solo 401(k). Set your sights on a retirement future you can control - We specialize in helping our clients invest in "quality" residential real estate using self-directed IRAs. Learn More.....
The Fed is now proactive and committed to solving the economic woes - interest rates are on the decline! The financial markets are very uncertain and inflation looms - Investors want security and while in its early stage, the rush to commodities and hard assets, including real estate, has already begun!How will you play the real estate bounce-back? We think you should profit from it.
The secret most financial planners do not want you to know - "You can use your retirement accounts to invest in real estate and often achieve returns that are higher than you could achieve through the traditional investment market".Many financial planners would never recommend including real estate in a portfolio, either because they are not in position to profit from a sale or they are simply uninformed about the process.Now is the time to increase profit potential and greater diversification to your retirement portfolio by including investments in real estate. While there are many quality properties available at bargain base prices, it makes a great deal of financial sense and we can show you how.
Nothing Can Stop the Baby Boomer Migration - So Profit by It and Help Secure Your Retirement! In the world of investing, there are few, if any, times one can be ninety nine percent sure of the outcome. But betting on the path of approximately 77 million Baby Boomers (those born between 1964 and 1946) that are about to begin their lives as retirees, just may be one of those times. Nothing can alter the progression of the Boomers toward retirement. Given the demographics, the trend is an absolute certainty and will technically continue until 2029, although it will begin to level off after 2020. More.....
Supplement Your Retirement by Profiting from Quality Building Lots and Home Sites - Could it be you aspire to build your idyllic vacation or retirement home, customized exactly the way you want, which requires beginning with the perfect vacant building lot or home site? Or may be you now realize, as many already have, that holding �quality� home sites in an investment or retirement portfolio makes a lot of financial sense in these turbulent economic times. More.....
A Second Home Could Be Your Best Retirement Plan Investment - Today a large number of people are realizing that a second home, vacation home or retirement home, isn't so much a luxury item as it is a sound real estate investment. More.....
Cape Coral is one of the largest planned communities in the nation. Founded in 1970, the city was designed to be a “water wonderland” strategically located between Tampa and Miami. Cape Coral is a 115 square mile city with 400 miles of canals and fresh water lakes along the Caloosahatchee River. Divided into four sections, Cape Coral is the fifth fastest growing city in the country and Southwest Florida’s second largest city. Most of the commercial and retail outlets are found along three main roadways, Del Prado Blvd, Pine Island Road, and Cape Coral Pkwy. The Cape is a widely renowned place to live and is a vibrant and youthful city, where businesses thrive, and life is rich with educational, cultural, and recreational opportunities. Cape Coral is home to more than 138,000 residents, 4,000 businesses and the growth continues. The growth rate for business is 12 percent. Cape Coral is the midpoint city between Tampa and Miami. Almost 75 percent of Florida’s population is within 150 miles of Cape Coral and the city is easily accessible via I-75. The Cape is 10 miles from I-75 and close to U.S. 41. Southwest Florida International airport is only 15 miles away. Downtown Cape Coral is a quaint district of pastel-painted buildings, restaurants, shops, and boutiques. Many of the oldest homes in Cape Coral were built on the riverfront. This area is home to the Cape Coral Yacht Club. Cape Harbor offers a public waterfront with a marina, shops, and award winning restaurants. Cape Coral’s southwest quadrant is known as the “hot spot.” A three square mile quadrant .The Pine Island corridor is known as North Cape Coral. It is a corridor that links the barrier islands to the mainland. This is one of the up and coming areas in Cape Coral, with new retail popping up in the area daily. Cape Coral lots are great investments for tour IRA or other tax-advantaged retirement account. Cape Coral lot values in 2008 are now at 2003 levels, that is, the level they were before the big boom in real estate prices. Although prices can continue to drop, they appear to be stabilizing and there are several large "buy" programs operating that are putting a floor on prices. Many of the "buy" programs purchases don't show up on the MLS and aren't in the figures above. If you believe that Florida isn't going to disappear from the maps of the 80 million or so baby-boomers, you should consider buying some lots at these prices. As always, I'll be glad to help.
About Us
Driven by professional development consistent with a life time of learning, I have more than 25 years collective experience in what matters most to this specific endeavor: To help my fellow Baby Boomers achieve a financially secure retirement by supplementing their retirement savings by harnessing America's greatest migration in history, and investing now, where America’s retirees are migrating.As a practiced Certified Financial Planner and real estate professional, my unique experiences include a progressive series of professional accomplishment in:
Land use planning and residential real estate development
Real estate investment, to include investing through self-directed retirement accounts
Investment management and financial services
Financial planning, to include an emphasis on retirement planning
As your dedicated advisor, my underlying objective will be to provide you with the most current and sound information available sufficient for you to make a well-informed real estate investment decision, applicable to your unique circumstance. In order for me to accomplish my objective, my services will include the following:
Maintain a real estate investment emphasis based on principles of sound financial planning and investment planning and never recommend to any of my clients any real estate investment that I do not own or would buy myself.
Spend time each day educating myself on changing market conditions, new communities, and new investment opportunities, appropriate for more clients.
Remain continuously aware of any recent developments and economic news concerning where clients investing now or in the perceived future.
Consistently work close and assist all members of the client advisory team to include attorneys, accountants, financial advisors and mortgage professionals involving all client related transactions.
Provide all clients with the most current and accurate information available from which base all real estate investment decisions.
I strive every day to provide excellent customer service to each and every client, based on learned professional expertise, honesty and integrity.
Gene कर्री
Are you tired of waiting for the stock market to bail you out?
Would you like to stop your retirement savings from losing ground?
Would you like to profit from the housing slump that is destined to recover?
Would you like to provide a financially secure retirement for you and your spouse?
If you have answered yes to any of the above questions, you should consider buying "quality" residential real estate now in Florida, where the Baby Boomers are headed! The housing market slow down is a blessing in disguise - It is the opportunity we have been waiting for. Prices are the lowest they have been in years. Investing now where Baby Boomers are headed could be your key to a financially secure retirement. And one of the very best ways to make quality real estate investments is through a self-directed IRA or similar self-directed tax-advantaged retirement accounts, including the 401(k) and the new Solo 401(k). Set your sights on a retirement future you can control - We specialize in helping our clients invest in "quality" residential real estate using self-directed IRAs. Learn More.....
The Fed is now proactive and committed to solving the economic woes - interest rates are on the decline! The financial markets are very uncertain and inflation looms - Investors want security and while in its early stage, the rush to commodities and hard assets, including real estate, has already begun!How will you play the real estate bounce-back? We think you should profit from it.
The secret most financial planners do not want you to know - "You can use your retirement accounts to invest in real estate and often achieve returns that are higher than you could achieve through the traditional investment market".Many financial planners would never recommend including real estate in a portfolio, either because they are not in position to profit from a sale or they are simply uninformed about the process.Now is the time to increase profit potential and greater diversification to your retirement portfolio by including investments in real estate. While there are many quality properties available at bargain base prices, it makes a great deal of financial sense and we can show you how.
Nothing Can Stop the Baby Boomer Migration - So Profit by It and Help Secure Your Retirement! In the world of investing, there are few, if any, times one can be ninety nine percent sure of the outcome. But betting on the path of approximately 77 million Baby Boomers (those born between 1964 and 1946) that are about to begin their lives as retirees, just may be one of those times. Nothing can alter the progression of the Boomers toward retirement. Given the demographics, the trend is an absolute certainty and will technically continue until 2029, although it will begin to level off after 2020. More.....
Supplement Your Retirement by Profiting from Quality Building Lots and Home Sites - Could it be you aspire to build your idyllic vacation or retirement home, customized exactly the way you want, which requires beginning with the perfect vacant building lot or home site? Or may be you now realize, as many already have, that holding �quality� home sites in an investment or retirement portfolio makes a lot of financial sense in these turbulent economic times. More.....
A Second Home Could Be Your Best Retirement Plan Investment - Today a large number of people are realizing that a second home, vacation home or retirement home, isn't so much a luxury item as it is a sound real estate investment. More.....
Cape Coral is one of the largest planned communities in the nation. Founded in 1970, the city was designed to be a “water wonderland” strategically located between Tampa and Miami. Cape Coral is a 115 square mile city with 400 miles of canals and fresh water lakes along the Caloosahatchee River. Divided into four sections, Cape Coral is the fifth fastest growing city in the country and Southwest Florida’s second largest city. Most of the commercial and retail outlets are found along three main roadways, Del Prado Blvd, Pine Island Road, and Cape Coral Pkwy. The Cape is a widely renowned place to live and is a vibrant and youthful city, where businesses thrive, and life is rich with educational, cultural, and recreational opportunities. Cape Coral is home to more than 138,000 residents, 4,000 businesses and the growth continues. The growth rate for business is 12 percent. Cape Coral is the midpoint city between Tampa and Miami. Almost 75 percent of Florida’s population is within 150 miles of Cape Coral and the city is easily accessible via I-75. The Cape is 10 miles from I-75 and close to U.S. 41. Southwest Florida International airport is only 15 miles away. Downtown Cape Coral is a quaint district of pastel-painted buildings, restaurants, shops, and boutiques. Many of the oldest homes in Cape Coral were built on the riverfront. This area is home to the Cape Coral Yacht Club. Cape Harbor offers a public waterfront with a marina, shops, and award winning restaurants. Cape Coral’s southwest quadrant is known as the “hot spot.” A three square mile quadrant .The Pine Island corridor is known as North Cape Coral. It is a corridor that links the barrier islands to the mainland. This is one of the up and coming areas in Cape Coral, with new retail popping up in the area daily. Cape Coral lots are great investments for tour IRA or other tax-advantaged retirement account. Cape Coral lot values in 2008 are now at 2003 levels, that is, the level they were before the big boom in real estate prices. Although prices can continue to drop, they appear to be stabilizing and there are several large "buy" programs operating that are putting a floor on prices. Many of the "buy" programs purchases don't show up on the MLS and aren't in the figures above. If you believe that Florida isn't going to disappear from the maps of the 80 million or so baby-boomers, you should consider buying some lots at these prices. As always, I'll be glad to help.
About Us
Driven by professional development consistent with a life time of learning, I have more than 25 years collective experience in what matters most to this specific endeavor: To help my fellow Baby Boomers achieve a financially secure retirement by supplementing their retirement savings by harnessing America's greatest migration in history, and investing now, where America’s retirees are migrating.As a practiced Certified Financial Planner and real estate professional, my unique experiences include a progressive series of professional accomplishment in:
Land use planning and residential real estate development
Real estate investment, to include investing through self-directed retirement accounts
Investment management and financial services
Financial planning, to include an emphasis on retirement planning
As your dedicated advisor, my underlying objective will be to provide you with the most current and sound information available sufficient for you to make a well-informed real estate investment decision, applicable to your unique circumstance. In order for me to accomplish my objective, my services will include the following:
Maintain a real estate investment emphasis based on principles of sound financial planning and investment planning and never recommend to any of my clients any real estate investment that I do not own or would buy myself.
Spend time each day educating myself on changing market conditions, new communities, and new investment opportunities, appropriate for more clients.
Remain continuously aware of any recent developments and economic news concerning where clients investing now or in the perceived future.
Consistently work close and assist all members of the client advisory team to include attorneys, accountants, financial advisors and mortgage professionals involving all client related transactions.
Provide all clients with the most current and accurate information available from which base all real estate investment decisions.
I strive every day to provide excellent customer service to each and every client, based on learned professional expertise, honesty and integrity.
Gene कर्री
Tuesday, June 3, 2008
SW Florida Realtors
Alert! Inventory dropping. Closed Sales Jan. 165, Feb. 227, Mar. 331, Apr. 363, May 436
Fox national news reported the other day that lee county is soaring in sales. This time last year we had 3 years inventory and as of today they reported their is only 9 months.
Properties have been reduced by sellers and lenders for quick sales. "Unbelievable pricing"
We have 50 full time agents working the SW Florida's Gulf Coast Real Estate market.
Foreclosure & Discounted properties are our specialty. Instant $$$ appreciation.
Buy real estate with your IRA: Investing IRA
Need to sell you home because of financial trouble? We handle short sales and foreclosures.
Our company works with Mortgage Brokers that have programs to fit your financial needs. Creative financing & competitive rates. Quick & easy turn around time.
Looking for a vacation rental or long term rental, We can Help: Rental Information
Experience and a good realty team is the key in today's real estate market.
No Obligation, No Pressure Service.
SW Florida is Paradise
www.sellcapecoralflorida.com
Fox national news reported the other day that lee county is soaring in sales. This time last year we had 3 years inventory and as of today they reported their is only 9 months.
Properties have been reduced by sellers and lenders for quick sales. "Unbelievable pricing"
We have 50 full time agents working the SW Florida's Gulf Coast Real Estate market.
Foreclosure & Discounted properties are our specialty. Instant $$$ appreciation.
Buy real estate with your IRA: Investing IRA
Need to sell you home because of financial trouble? We handle short sales and foreclosures.
Our company works with Mortgage Brokers that have programs to fit your financial needs. Creative financing & competitive rates. Quick & easy turn around time.
Looking for a vacation rental or long term rental, We can Help: Rental Information
Experience and a good realty team is the key in today's real estate market.
No Obligation, No Pressure Service.
SW Florida is Paradise
www.sellcapecoralflorida.com
How to invest IRA in real estate
We have a CFP on our real estate staff that will show you how to invest in real estate with your IRA.
Visit our site at: www.realsmartretirement.com
www.Vadalarealty.com
We sell and list Cape Coral properties.
Visit our site at: www.realsmartretirement.com
www.Vadalarealty.com
We sell and list Cape Coral properties.
Tuesday, May 20, 2008
Cape coral short sale experts
Vadala Realty : Call 239-898-2120 We Can Help: Guaranteed. Free Consultation.
Financial trouble with your property?
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose.
As a real estate broker, I am not a lawyer nor a CPA and cannot give any legal advice. However, I work hand and hand with many lenders in this area. We have successfully closed many short sale deals this year. We have a good record in success. Give me a call at 239-898-2120 for more information. www.vadalarealty.com
Be aware the Internal Revenue Service. will consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.
Call the LenderYou may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision. Lenders we have a relationship with: Vadala Realty Contacts
Submit Letter of AuthorizationLenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
Property Address
Loan Reference Number
Your Name
The Date
Your Agent's Name & Contact Information
Preliminary Net SheetThis is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.
Hardship LetterThe sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
Proof of Income and AssetsIt is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lender are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
Copies of Bank StatementsIf your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
Comparative Market AnalysisSometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes
Active comparables on the market
Pending sales in your area.
Properties that have sold in the last 6 months.
Purchase Agreement & Listing AgreementWhen you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions.
Services
If your were to hire a lawyer to do all these service for you it would cost thousands $$$$ of dollars for their services. We offer all theses services above plus negotiating on your behalf .
Our upfront fee for theses services range from $500-$1000 per listing (Non-Refundable). This is a small price to pay to save your credit.
We will then list your property for 6% commission which will be paid to us from the lender's proceeds.
Now if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.
How Vadala Realty will market and sell your property.
Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs. Large oversized companies can't give you that personalized service. We all have the same amount of exposure, no matter how many offices or agents. The Multiple Listing Service is working for all of us the same no matter what size you may be. The differences between Vadala Realty and other companies is we can offer personalized service! So don't be fooled by all theses statistics agents sell you on. Vadala Realty is committed to providing quality service to all of their clients and to ensure your property is marketed to an optimum level and receives high market value. I am available to my clients 24/7 for any questions or concerns they may have. Below is Vadala Realty's marketing plan for you. Communication & Trust is a strong foundation to success. 1. View and Photo Home, make recommendations on how to increase the value to Market the Home the most effective. 2. Agree on Price, Terms and Financing 3. Submit personalized Listing to MLS 4. Install a distinctive sign and Lockbox 5. Team up and run a campaign with the Real Estate Book for all lee county Multi Media Marketing homes6. Local advertising with Realtor.com National advertising in the duPont Registry on listings over 1.5 Mil. dupontregistry.com7.Internet marketing on our website www.sellcapecoralflorida.com , www.listhub.net, www.listingbook.com and the major search engines like Google, Yahoo, MSN, Ask.
8. Email 81 Million Target Prospects Monthly. That's 2.7 Million Target Prospects a Day! http://www.webtrafficmarketing.com/
9.State-of-the-art Technology ( Talking House) 10. 24/7 Appointment service and showings11. Hold Open House for Public & Brokers 12 Phone All Potential Buyers in our data base with Details of Listing 13. Follow Up on Open House for Public & Brokers 14. Mortgage Broker referrals for buyers. Title company referrals for sellers 15. Help make the transaction for the buyers and sellers as simple as possible (available 24/7 car internet access)16. Give You a Status Report & evaluate anything I can do better to met your goal. 17. Go Over Any Changes 18. Review Pricing 19.Create or revise Marketing Plan if neededRemember you always want to look for an agent that is honest, assertive, and one that best understands your needs. www.vadalarealty.com
Financial trouble with your property?
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose.
As a real estate broker, I am not a lawyer nor a CPA and cannot give any legal advice. However, I work hand and hand with many lenders in this area. We have successfully closed many short sale deals this year. We have a good record in success. Give me a call at 239-898-2120 for more information. www.vadalarealty.com
Be aware the Internal Revenue Service. will consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.
Call the LenderYou may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision. Lenders we have a relationship with: Vadala Realty Contacts
Submit Letter of AuthorizationLenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
Property Address
Loan Reference Number
Your Name
The Date
Your Agent's Name & Contact Information
Preliminary Net SheetThis is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.
Hardship LetterThe sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
Proof of Income and AssetsIt is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lender are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
Copies of Bank StatementsIf your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
Comparative Market AnalysisSometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes
Active comparables on the market
Pending sales in your area.
Properties that have sold in the last 6 months.
Purchase Agreement & Listing AgreementWhen you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions.
Services
If your were to hire a lawyer to do all these service for you it would cost thousands $$$$ of dollars for their services. We offer all theses services above plus negotiating on your behalf .
Our upfront fee for theses services range from $500-$1000 per listing (Non-Refundable). This is a small price to pay to save your credit.
We will then list your property for 6% commission which will be paid to us from the lender's proceeds.
Now if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.
How Vadala Realty will market and sell your property.
Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs. Large oversized companies can't give you that personalized service. We all have the same amount of exposure, no matter how many offices or agents. The Multiple Listing Service is working for all of us the same no matter what size you may be. The differences between Vadala Realty and other companies is we can offer personalized service! So don't be fooled by all theses statistics agents sell you on. Vadala Realty is committed to providing quality service to all of their clients and to ensure your property is marketed to an optimum level and receives high market value. I am available to my clients 24/7 for any questions or concerns they may have. Below is Vadala Realty's marketing plan for you. Communication & Trust is a strong foundation to success. 1. View and Photo Home, make recommendations on how to increase the value to Market the Home the most effective. 2. Agree on Price, Terms and Financing 3. Submit personalized Listing to MLS 4. Install a distinctive sign and Lockbox 5. Team up and run a campaign with the Real Estate Book for all lee county Multi Media Marketing homes6. Local advertising with Realtor.com National advertising in the duPont Registry on listings over 1.5 Mil. dupontregistry.com7.Internet marketing on our website www.sellcapecoralflorida.com , www.listhub.net, www.listingbook.com and the major search engines like Google, Yahoo, MSN, Ask.
8. Email 81 Million Target Prospects Monthly. That's 2.7 Million Target Prospects a Day! http://www.webtrafficmarketing.com/
9.State-of-the-art Technology ( Talking House) 10. 24/7 Appointment service and showings11. Hold Open House for Public & Brokers 12 Phone All Potential Buyers in our data base with Details of Listing 13. Follow Up on Open House for Public & Brokers 14. Mortgage Broker referrals for buyers. Title company referrals for sellers 15. Help make the transaction for the buyers and sellers as simple as possible (available 24/7 car internet access)16. Give You a Status Report & evaluate anything I can do better to met your goal. 17. Go Over Any Changes 18. Review Pricing 19.Create or revise Marketing Plan if neededRemember you always want to look for an agent that is honest, assertive, and one that best understands your needs. www.vadalarealty.com
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