Orlando Real Estate Voice, Short Sale Expert & Specialist

Too many agents are afraid to take on short sales, as they should be. They’ve heard that these short sales in Orlando are too complicated, the lenders are uncooperative (and sometimes hostile), or the property gets foreclosed on before they find a buyer. Any of these can happen, but mostly to agents who are unaware of how to successfully negotiate and close a short sale.Let me tell you, if it was that easy, every agent in Florida would be rolling in cash by now.  Our Services include:

• Presenting a solution to the lender and negotiating favorable terms
• Allowing the borrower and her/his family to get a fresh start
• Expediting the process with a fast resolution.Our success rate is among the highest in Orlando. Many of our services are FREE OF CHARGE to the borrower and our consultation services are always FREE.  If you are considering doing a short sale on your property give me a call and we can discuss the in’s and out’s of doing a successful short sale. You need a Short Sale Specialist and now you’ve found one. Call me today for a Free Consultation at 407-580-7011********************************************************* 

 Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden,  or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

Do I qualify for a Short Sale? Do You….

• Owe more on your Orlando area property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc?
• Have difficulty covering your expenses each month?
• Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank?

Are You Having Trouble Making The Payments? Are You….

• Feeling the stress mounting with each missed payment and phone call from your bank?
• Have difficulty covering your expenses each month?
• Getting confused as to what your options are at this point?

Foreclosure Sale Date Approaching?

•·        Are you behind on your payments?

•·        Do you owe more than your home is worth?

•·        Have you lost your job, fell ill, or lost a loved one?

•·        Did your “ARM” adjust & you can’t keep up?

•·        Do you want to just walk away and not owe a dime?

Many Luxury Homes are also facing foreclosure. If you have a Luxury home in Windermere, Winter Garden, or the Orlando area Yes, you can do a Short Sale on Luxury Homes. Call me and I can help!

******************************************************************************************  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden,  or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

The Orlando Real Estate Market is a changing market. Are we at the bottom? Well, no one knows for sure. However, I do want to share with you the statistics from the Orlando Regional Realtors Board that are compiled monthly.

Please Click Here to view the Market Snapshot

 You can see that prices came down and sales responded by picking up every month this year through June. July sales typically fall a little behind June, and this year was no exception. Look for August to be a little slower still as school resumed this week. September will also be a little behind the summer numbers, but we usually see a rebound in October. Of course, there is a huge number of pending sales that could finally get closed creating a sales spike primarily from Short Sales. Many homes were put under contract as a short sale in the last 60 days that have yet closed. I’m guessing we’ll show a bit of a spike in September and October this year.

******************************************************************************************  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden,  or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

Short Sales in Orlando Florida – What’s Needed?

When you go through the short sale process your lender will require certain documentation.  Remember, the lender does not want to take the home back through foreclosure. That is a last resort for both the homeowner and the lender.  The lender would rather accept a short sale as long as the borrower can show an inability to pay the mortgage.Each lender has their list of required documentation.  Therefore, the first step is to give your Realtor signed authorization to speak with the lender about your account. Your Realtor will then request a “short sale package” from the lender.  Most lenders require the following documentation.

• Exclusive right of Sale Listing Agreement
• A copy of the executed “AS-IS” Sale and Purchase contract
• Letter of Authorization to the bank to release Information.
• HUD-1, which is the estimated net sheet from a title company.  The settlement statement will show all of the expenses related to the sale with the seller receiving zero.
• Hardship letter.  A handwritten letter may be better to explain the borrower’s situation and requesting a short sale. It should describe why the borrower cannot make their mortgage payments and their fear of possible foreclosure.  It should be a plea for the lender to consider a short sale. Document to support Hardship (termination of employment, substantial medical bills, disability letter, etc.
• Personal Financial Statement form 1126, which includes current debt, payments and a household budget.
• Two years of tax returns and W-2′s.  Remember to provide signed copies of tax returns.
• Two most recent bank statements and retirement account statements.  Be sure to copy both side of double-sided statements.
• Two most recent pay stubs
• A current Comparative Market Analysis (CMA) from a real estate broker or appraiser
• Buyers proof of Funds or Loan Approval letter
• Lastly note on the submission package that they need to order the BPO immediately and a negotiator needs to be assigned.

Make sure that when you submit the package it is COMPLETE. Some times it may be better to wait a day and ensure that it’s complete than to submit an incomplete package. Remember the Loss Mitigator is dealing with possibly hundreds of files at a time.Lastly Note: With a short sale your Realtor should negotiate for the lender to waive their right to file a deficiency judgment. **IMPORTANT***************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden,  or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

Anyone looking to buy a home in Orlando, East Orlando or any of the surrounding communities such as Windermere, Winter Garden, Ocoee, Winter Park, Kissimmee, Saint CLoud, or Lake Nona please give me a call because I have some terrific deals. I found this photos recently and I Love it. So, the answer is NO it’s not real and don’t ask where you can find it. 

However, I’m seeing short sales and foreclosures right now that are 1/2 price compared to only 3 years ago.  I’m hearing people saying that we are not at the bottom and they’re going to wait. Well, very simply if you wait for another $10,000 – $20,000 break in price your thinking is wrong. Let me tell you why.

  Interest rates is the answer.  Interest rates will rise and trying to save $10-$20 thousand will be nothing compared to a 1/2 point to a point higher in interest rates. Do the math. When you’re done doing the math, give me a call and I’ll find you that perfect home at a huge price reduction at the lowest interest rate. Don’t wait for the media to say it’s turning around, because by then it’ll be too late and you’ve missed the bottom. So CALL TODAY! 407-580-7011

BPO stands for Broker’s Price Opinion.  The term Broker’s Price Opinion (BPO) is a method that a Real Estate Broker (or an agent acting on behalf of their employing broker) uses to estimate the value of a Real Estate property/house.  The estimate of value is submitted in a BPO report (2-3 pages) that includes local Orlando Real Estate market information, neighborhood analysis, and (comps) properties that compare to the (subject) house that is being valued.  This method of estimating a value has similarities to a Certified Market Analysis CMA and a residential Real Estate appraisal.

Performing a BPO, in the BPO industry, means that a Real Estate Professional (agent, broker, or appraiser) is requested by a financial institution to submit an estimate of value for a property in a BPO report for a fee. A financial institution may order a BPO for the following situations:

• home equity lines of credit
• home equity loans
• requests to remove PMI – Private Mortgage Insurance
• REO/Foreclosures/Short Sale
• Any other reason that a bank/lender needs to make a financial decision on a property

BPO Process

1. A bank receives an application for a Home Equity Loan, Home Equity Line of Credit, request to remove PMI etc…  The loan officer must determine the value of the home.
2. The bank contacts a BPO Company for a BPO (they may order multiple BPOs for comparison) on the property in question.  A due date is established for the BPO (usually within a week).
3. The BPO Company maintains a list of Real Estate Professionals that perform BPOs.  The BPO Company contacts a Real Estate Professional on their list to perform the BPO.  The Real Estate Professional’s due date is a few days before the final BPO is due.
4. The Real Estate Professional contacts the homeowner to schedule an inspection of the home or property (if an interior inspection is required).
5. The Real Estate Professional physically inspects the home/property.
6. The Real Estate Professional gathers Real Estate market information and compiles the information to determine a valuation.
7. The Real Estate Professional submits the finished BPO to the BPO Company.
8. The BPO Company conducts a quality review of the BPO.
9. The BPO Company submits the final BPO to the Bank/Lender.
10. The BPO Company pays the Real Estate Professional.
11. The Bank/Lender pays the BPO Company.
12. The Bank/Lender makes a financial decision based on the opinion of value contained in the BPO.