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Short Sale in Wellington Florida have been common place for several years now and currently account for 13% of the homes for sale in Wellington Florida, which is the same last month.  While some Wellington FL real estate agents still don’t understand the short sale process I do and assist short sale sellers and buyers  with their short sale real estate needs.

• April 2012 – Wellington Short Sale Market Report
• March 2012 – Wellington Short Sale Market Report
• February 2012 – Wellington Short Sale Market Report
• January 2012 – Wellington Short Sale Market Report
• December 2011 – Wellington Short Sale Market Report
• November 2011 – Wellington Short Sale Market Report
• October 2011 – Wellington Short Sale Market Report
• September 2011 – Wellington Short Sale Market Report

If you are thinking about buying a short sale or selling your Wellington FL home via short sale make sure to hire a Wellington short sale agent who is experienced with the short sale process.

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Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process.  This is the fifth in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:

Buying a Wellington Short Sale: Get your Checkbook Out!

Once you write an offer on a Wellington short sale it will be submitted to the seller, who will either accept, counter or reject.  If you and the short sale seller come to terms be prepared to put down an initial escrow deposit, which is usually between $1,000 and $5,000.  This escrow deposit will be held by a brokerage, title company or attorney.  Depending how the contract is written the initial escrow may or may not be refundable.

Once the contract is fully exectued it will then be submitted to the short sale lender for approval.

If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!

Part 1:  What is a Short Sale?
Part 2: Short Sale Negotiations
Part 3: Short Sales are NOT Short!
Part 4: Expect to Pay Market Value!

Read more: http://wellingtonhometeam.com/buying-a-wellington-short-sale-get-your-checkbook-out/#ixzz1suj7MGf8

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Now and again, there are articles that float around the Internet that reflect on the phrase, “Cash is king.” Recently, I’ve seen a few articles that touch on the topic with interesting perspective. The question that these posts seem to address is this: When writing an offer on a short sale, is the cash offer king (read: the best offer on the table)?

I guess the real answer to that question is that it really depends upon your definition of the wordking. Receiving the title of king occurs in a variety of ways. For Elvis and for Michael Jackson, king was a title conferred upon them because they dominated their fields. For the Royals, it is a title that comes with a birthright.

In a short sale transaction, there are some significant benefits to cash offers. For one, the cash buyer does not have to obtain a mortgage loan. This very fact can speed up the closing of the transaction. Additionally, a cash buyer may have a little bit of wiggle room when and if the bank does not approve funds for certain items required for the short sale closing. For example, if there is overdue HOA or a required termite report, the cash buyer might be able to contribute some funds to cover those fees. Lastly, in a pinch and if the foreclosure auction is imminent, the cash buyer can close more quickly. That last fact is often seen as a positive by the short sale negotiators and processors at the bank.

That being said, often times cash buyers (by the very nature that they are cash buyers) are more fluid. Since these buyers do not require a loan, they can continue to look at properties and shop around. Additionally, many cash buyers are investors that are looking for an investment with a strong return. So, if the bank counters their offer at a higher price, they might move on to another investment. Lastly, as an investor buyer, the cash buyer is not emotionally attached to the property the way a first time homebuyer might be. For example, a first time homebuyer might want a specific school district or neighborhood, whereas the investor is often more focused on the financial bottom line.

Now, with respect to short sale negotiations, few and far between are the times when bank employees will speed up their corporate time frames or take a lesser dollar amount because a cash buyer has submitted an offer. If an investor, such as Fannie Mae or Freddic Mac, has done their due diligence and decided upon a minimum net amount, the very fact that the offer is cash will not usually coerce the lender into accepting something less than a pre-determined net. Additionally, it is not often that a bank will speed things up when a cash offer is on the table.

I’ve gotten a few short sales approved in record time—several in under a week. However, in all of those cases, I already had a fully approved package in the hands of a higher-level short sale executive who was just waiting for me to submit either a new offer or an offer that already met some pre-determined or pre-approved terms. So, in those cases, it might not have been the cash that was king, it may have been (like Elvis and Michael Jackson) a title conferred upon me because of my domination in the field (LOL if you want).

So, while cash certainly may be of benefit when considering the purchase of a short sale, as to whether cash is king—I guess it would all depend upon your definition of the word king.

Originally posted at http://www.shortsaleexpeditor.com/short-sale-tips/elvis-presley-michael-jackson-and-short-sale-buyers-%E2%80%93-what-they-all-have-in-common/

Photo: flickr creative commons by puamelia

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Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process.  This is the forth in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:

Buying a Wellington Short Sale: Expect to Pay Market Value!

While Wellington Short Sales are technically considered “distressed sales” the prices that short sales sell for are not!  So far in 2012 the list to sales price ratio for Wellington Short Sales is 97.05%, which means a short sale listed for $300,000 will sell for $291,150, that’s less than 3% off the list price.

Wellington home buyers who think they will be able to pick up a Wellington Short Sale for 20% off the list price are mistaken.  Wellington’s list to sales price ratio across the board for Traditional Sales, Short Sales & Bank Owned homes for 2012 is almost 96% and I would not be surprised if that number gets to 97% or even 98% by the end of the year.

If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!

Part 1:  What is a Short Sale?
Part 2: Short Sale Negotiations
Part 3: Short Sales are NOT Short!

Read more: http://wellingtonhometeam.com/buying-a-wellington-short-sale-expect-to-pay-market-value/#ixzz1rPgvUX8W

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Short Sale in Wellington Florida have been common place for several years now and currently account for 13% of the homes for sale in Wellington Florida, which is an decrease of 4% since last month.  While some Wellington FL real estate agents still don’t understand the short sale process I do and assist short sale sellers and buyers  with their short sale real estate needs.

• March 2012 – Wellington Short Sale Market Report
• February 2012 – Wellington Short Sale Market Report
• January 2012 – Wellington Short Sale Market Report
• December 2011 – Wellington Short Sale Market Report
• November 2011 – Wellington Short Sale Market Report
• October 2011 – Wellington Short Sale Market Report
• September 2011 – Wellington Short Sale Market Report

If you are thinking about buying a short sale or selling your Wellington FL home via short sale make sure to hire a Wellington short sale agent who is experienced with the short sale process.

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Sit back, relax and enjoy the amazing views from this waterfront pool home in Sugar Pond Manor!  Featuring 3 bedrooms, 2.5 bathrooms, a 2 car garage and over 2,100 square feet of living.  Situated on almost a quarter acre this home has a lot to offer inside and out.  The backyard getaway features a screened pool, covered patio, large fenced in area, all overlooking the peaceful canal.

The oversized great room has vaulted ceilings, hi-hats and sliding glass doors that lead out to the backyard retreat.  You will also find sliding glass doors in the dining area, which is open to the kitchen and small family room.

The master bedroom features tile floors, a walk-in closet and private bath, complete with dual sinks, roman tub and separate shower.  Both secondary bedrooms are a nice size and also have beautiful tile floors.  The second bathroom is a cabana bath with dual sinks and a step down shower.   Other features include a laundry room, which has cabinetry and a wash basin, central vac, intercom system and the home is wired for business class DHL.

Sugar Pond Manor is located in the heart of Wellington Florida and is within walking distance to shopping, dining and entertainment.  Top rated Wellington schools are also close by along with parks and polo grounds.

This great short sale is being offered at $180,000

For more information about this great waterfront pool home in Wellington visit:
13635 Exotica Lane Wellington FL 33414

Read more: http://wellingtonhometeam.com/sugar-pond-manor-waterfront-pool-home-for-sale-13635-exotica-lane/#ixzz1s7bEWd00

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Meticulously Maintained Pool Home for Sale in the popular guard gated community of Palm Beach Plantation.  Featuring 3 Bedrooms + Den, 2.5 Bathrooms, a 2 Car Garage and almost 2,600 square feet of living.  Upon entering you will fall in love with this model perfect home, which has gorgeous upgrades throughout.

The formal living room features beautiful custom drapes, a vaulted ceiling and wrought iron stairwell.  The formal dining room also has custom window treatments and is perfect for entertaining.  The upgraded kitchen overlooks the large family room, which has sliding glass doors that lead out to the covered and screened patio.  The kitchen features 42″ wooden cabinetry, stainless steel appliances, a pantry, breakfast bar and breakfast nook.  The main floor has ceramic tile throughout, custom fixtures, a cabana bathroom and large laundry room.

The upgrades continue throughout the second floor, which is where you will find the master bedroom and two secondary bedrooms.  The private master suite has Brazilian cherry wide plank floors, two walk-in closets and an en suite bathroom, complete with dual sinks, roman tub and separate shower.  The master bedroom also features a 13×12 den, perfect for a home office, nursery or exercise room.  The den could easily be converted to a 4th bedroom as well.

You will be able to escape year round to your private backyard oasis!  The fenced backyard features an in-ground swimming pool with rock waterfall, paver patio and a large grassy area.

Palm Beach Plantation is located in Royal Palm Beach Florida and is close to shopping, dining, entertainment, the Palm Beach International Airport, Florida Turnpike and beaches.  Amenities within the gates of Palm Beach Plantation included a clubhouse, swimming pool, spa, fitness center, tennis courts, basketball court and playground.  Monthly maintenance fees currently include lawn service, alarm monitoring and access to all of the fabulous amenities that Palm Beach Plantation has to offer, there is even FREE zumba and aerobics classes until May.

Learn more about Palm Beach Plantation in Royal Palm Beach Florida by visiting:  PALM BEACH PLANTATION COMMUNITY PAGE

This gorgeous short sale is being offered at $220,000

For more information and pictures visit: 315 Belle Grove Lane Royal Palm Beach FL 33411

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If you are looking for a Waterfront Pool Home in Wellington Florida then this is the one!  Situated on almost 1/4 acre fenced lot this single family home features 3 Bedrooms + Den, 2 Bathrooms, a 2 Car Garage and 1,996 square feet of waterfront living in Wellington Florida.

Built for entertaining this home offers an oversized great room that flows into a sunny Florida room, which has two sets of sliding glass doors leading to a spectacular backyard retreat.  The kitchen also has sliding glass doors that lead to a huge screened patio.  The popular split bedroom floorplan features a master bedroom sanctuary, two large secondary bedrooms and 14′x10′ den perfect for an office, playroom or exercise room.  In the private master suite, you’ll find a walk-in closet and an ensuite bathroom, complete with dual sinks a separate shower.

Escape to a backyard retreat all year long!  The fenced backyard can be your own sanctuary with a private in-ground swimming pool and large patio, all overlooking the serene lake.

South Shore is a single family home and townhome community located in the heart of Wellington Florida.  Top rated Wellington schools are just minutes away long with shopping, dining and entertainment.

This great Wellington short sale is being offered at $160,000 and only entertaining cash offers.

For more information and pictures for this great waterfront pool home visit: 1304 Stratford Street, Wellington, FL 33414

Read more: http://wellingtonhometeam.com/south-shore-waterfront-pool-home-for-sale-1304-stratford-street/#ixzz1rgIgihgU

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Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process.  This is the third in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:

Buying a Wellington Short Sale: Short Sales are NOT Short

Wellington home buyers often assume the word “short” in SHORT SALE refers to the time frame it will take to receive short sale approval.  Unfortunately “short” in SHORT SALE does not stand for the time frame, it stands for the short fall, which is what the sellers lienholder will be taking.

The actual time frame it takes to receive short sale approval will vary, some short sales may be approved within 30 days while others may take weeks, months and in some cases over a year.  While hundreds of short sales are approved every month some short sales will not be approved for numerous reasons, including the short sale seller not agreeing to the short sale approval terms.

If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!

Part 1:  What is a Short Sale?
Part 2: Short Sale Negotiations

Read more: http://wellingtonhometeam.com/buying-a-wellington-short-sale-short-sales-are-not-short/#ixzz1nJAZaZIh

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If you are a Seller in a Short Sale, you might be inclined to stick it to your Short Sale Bank and put a clause in your Northern Virginia Short Sale Contract that can be used to “motivate” the bank to act quickly.  After all, this is the same bank that probably was unresponsive and slow when processing your request for loan modification before you chose to go the route of Short Sale.  Anything you can do to light a fire is bound to help, right? Maybe a strict one month time frame for approval?

Let me share with you from my experience as a Short Sale Agent why this is NOT a good idea.  Whatever time frame you put in your Short Sale Contract for approval is also the amount of time you are expecting the Buyer to wait.

Typically, your Short Sale Agent will be able to give you a fairly close estimate on how long your Short Sale will take to get approved.  It may be 30 days or 90 days.   Whatever estimate you are given by your Short Sale Agent, that’s reality.  That is the amount of time you want to make sure your Buyer is committed to.  Shortening an approval time frame to 30 days when 60 is needed is asking for a Buyer that will find another property and bail on you before getting approval.

The date you set in the Short Sale Contract for approval really should be there to set a realistic expectation for the Buyer.  Setting unrealistic expectations in the hopes of motivating a bank is a bad way to start with the bank.

If you want to speed up getting your Short Sale Approval, the best idea is to cooperate with your Short Sale Agent in getting your financial documentation together for the bank.  That helps speed up the process more than anything.  Getting a complete Short Sale contract package to the bank helps immensely.  Leave the time frames in the contract as a guide to the Buyer with the idea that you will overestimate and deliver early.  That way, you are far more likely to get to settlement than to end up fighting with your Short Sale Bank and losing buyer after buyer with what amount to empty threats to the Short Sale Bank.  In the end, you are only hurting your chances at getting to the settlement table.  You’re not hurting the Short Sale Bank.

Originally posted at http://activerain.com/blogsview/2572101/northern-virginia-short-sales-should-you-use-shorter-deadlines-to-motivate-the-banks-to-get-the-deal-done- 

Chris Ann Cleland, Associate Broker | Northern Virginia Short Sale Specialist | 703-402-0037

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