jump to navigation

Did you know that Personal Judgments can affect your Short Sale? June 7, 2013

Posted by orlandoshortsalefl in Bank of America short sale, FHA short sale, Florida Foreclosure, Foreclosure in Orlando, judgments and short sales, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, orlando realtor, Orlando Short Sale, Orlando short sale Realtor, short sale, Wells Fargo short sale.
Tags: , , , , , , , , , ,
add a comment

My husband Scott who is also a Realtor works very hard and very smart. Our specialty….Short Sales of course. 

Recently Scott has been working diligently on a Short Sale due to the Pending Foreclosure Sale date. As you know when that date is set, the clock it is a ticking. By the way Scott works diligently for all of his sellers. Well the title work came back and there are personal judgments against the seller. Can these personal Judgments prevent this Short Sale from closing? The answer is:  Yes they can.

Let me explain. A personal Judgment goes against the Seller and although it’s not attached to the Home it’s attached to the person trying to sell their home which can prevent the sale unless satisfied. So let’s talk about what types of personal judgments there are.  You can have a small claims case in which it didn’t go in your favor. You may have a criminal traffic ticket that hasn’t been paid or you were sent to collections court in the Clerk of court for that ticket. You may even have a credit card you stopped paying on years ago and just never did anything about it. These are just a few examples.

Now here is what you need to know. These types of challenges can ultimately hurt your chances of selling a home, but like any challenge there is always a solution. Here are a few steps you can take to correcting a situation like this. First off, when your listing your home in a Short Sale be up front with your Realtor/Broker, tell them about these outstanding items. Remember we are trained to handle these types of challenges. You can also pay them to get them recorded and satisfied. And if this is your personal residence you can file what’s called a “Notice of Homestead”, which then has to be sent to all creditors and there’s a 45 day response period before they are no longer active.

If we know about these Judgments upfront, we can give you the information you need to make this a Successful Short Sale.  

One more thing…. We understand it may be difficult to tell us this personal information that you may feel uncomfortable but just remember we ALL have bumps in this road we call life and in the end we ALL put our pants on the same way. One leg at a time.

Hope this helps those that are reading my Blog today.

Wendy Golding

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale and video testimonials from our clients. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com

Like what you see? Subscribe to our blog.

Advertisements

Cypress Fairway Condos in Orlando Rent versus Owning June 4, 2013

Posted by orlandoshortsalefl in cypress fairway condo Orlando, Orlando Condo, Orlando real estate, orlando realtor, Orlando Short Sale, Orlando short sale Realtor, short sale.
Tags: , , , ,
add a comment

I received a call from my cousin Ashley last night. Ashley is recently engaged to a super nice guy his name is Chris. They are both in the mid twenty’s and are planning their upcoming nuptials. Ashley is a Physical Trainer at the YMCA and Chris is an up and coming Golf Professional. They are going to have a wonderful life together.

Anyway Ashley is renting at Cypress Fairway in Orlando 32811, it’s between Universal Studios and Millenia Mall. It’s a Gated Community with nice amenities and a great location that’s very central to both their jobs.  Well last night her landlord calls her and asks her if she and Chris would like to buy the Condo for $70,000. Excited at the possibility Ashley took down the information ended the call and started her due diligence. That’s right she called her cousin who is a Real Estate Broker and asked me to check out the values for the unit. Good Job Ashley!

The landlord is asking $70,000 for the unit. This morning as I am checking out the values I noticed the asking price is over the value by nine to ten thousand dollars. That’s ok I thought, because the price is always negotiable.  But then I started to think that Ashley and Chris once married may outgrow this one bedroom one bathroom condo pretty fast.  But on the other hand this may be a good investment for them and if they could live there for two years after they are married and allow the unit to appreciate they could actually make enough money from the unit to put a nice down payment on a home.

So the point of this Blog is to ask yourself these very questions when you are approached with buying your rental.  

Rental versus Owning, well Yes owning will always come ahead because it’s more economical as well as a good investment.  But…..what do you see in your future? Will the size of your rental accommodate your future needs? With a young couple like Ashley and Chris you never know once they are married if two becomes three.  Just my thoughts and I hope this helps Ashley and Chris and maybe those that are reading this Blog today.

 When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale and video testimonials from our clients. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com

Like what you see? Subscribe to our blog.

 

Our Jerry Maguire moment as Realtors June 3, 2013

Posted by orlandoshortsalefl in Foreclosure in Orlando, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, orlando realtor, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale, short sale realtor.
Tags: , , , , ,
add a comment

My husband Scott and I recently went on our annual week vacation; by the way Scott is also a Realtor. We prepared all of our clients, title agents and our fellow Realtors that we would be going on a Cruise and unable to be contacted. We were very diligent in thinking of every possible scenario that could become a challenge in our absence and we put in place steps for parties in the transactions to follow if they were to occur. We stepped on the ship and shut down our phones, put on our sunscreen and we were in Cruise mode.

As Realtors we all know how necessary vacations are. As Realtors we all fear something will go wrong with our Pending transactions while we’re on vacation. So how does this work, how can we enjoy our vacation that is overdue and needed to maintain our Family life? You just do!

It was when we were on our Cruise that both Scott and I had a Jerry Maguire moment. It was on this vacation that we both solidified we are doing things right. Not by making money right but Right meaning by people right. Let me explain.

The Cruise has an Art Auction which my Husband Scott had encouraged me to attend, having never attended an Art Auction and a lover of Art we attended. We had the best time; we enjoyed the Art, the stories behind the Artists and energy in the gallery. The auction lasted about an hour and a half, we had champagne and were given a auction paddle for bidding and bid we did. I have to admit we were caught up in the Art, the emotion of the artist’s stories and the energy from the auctioneer. Next thing you know we committed to $380.00 in Art, which we couldn’t have been more thrilled. After the auction a member of the Gallery comes to you and scheduled a time for you to come in and settle the payment. No problem we said they had 6pm available. When 6pm came we were there and the $380 turned into $2300 with framing and shipping. Still fine about it, we left about 7pm.

Fast forward to the last day of the Cruise and yet another Auction and another $5000 later, yes we bought more Art. We went back at 6pm to settle, then to the Customer Service desk to add another credit card then back to the fun. We went to dinner and gave our well wishes and tips to the dinner team and we were off to the Casino. We played penny slots and on our 3rd spin we won $983, I know right? We couldn’t believe it, we were so excited and our server was excited too and behind us was also our Gallery Rep who didn’t seem excited. We’re all smiles and he just tells us he had the ship service dept track us down by where we using our sign and sail cards last. We’re like HUH? He goes on to tell us the 2nd credit card could not be charged without removing the first credit card on the account and he had to balance the books. The gallery rep had a tone and insisted we go to Customer Service to handle this immediately. Scott said we have plans for the comedy show and it will have to wait until we return. The gallery rep once again insisted we take care of this now and again with the tone. We were both firm and said after the show.

So we went to the show, it was hilarious the comedian was new to the ship and we never laughed so hard. When the show was over we stand up to leave and who was behind us, you got it the Gallery Rep. Enough was enough, Scott and I looked at each other like are we being stalked? Again the Gallery Rep with his tone and insistence. This was enough, we told him to cancel the 2nd auction items and we’ll just take our 1st day pieces he would not take no for an answer and asked us to come to the Gallery with him. Keep in mind, the money at this point was not the issue. We did go back to the gallery, and it just went from bad to worse. We told him again, we’ll take the 1st day art and cancel the 2nd. The Gallery rep went on to tell us how he had to get up very early and had still to balance his books. At no point was the conversation about us, our love for the art, our last day of vacation and it being 2am. For a fourth time we told him to cancel the 2nd order and he made the fatal mistake of calling me “Sweetheart”. My husbands said don’t call her Sweetheart and I also said DO NOT call me Sweetheart. I gave him a lecture about how to treat clients and about what was right, what he did wrong and how his condescending words made me feel belittled. Ending my speech with Cancel everything! Scott and I exited the Gallery at 2:30am on our last night of our vacation feeling frustrated, angry and disappointed.

Sleeping was difficult; we just couldn’t understand this type of treatment from someone. We understand sales; we’re in sales we get it but like this. Never!

The next day, my Husband Scott and I talked about it some more. This is when we had our Jerry Maguire moment. We always knew we were doing things right by the families we worked with, but we never gave ourselves the credit we deserve. We put the money aside on every transaction and put the people first. The pay will follow once the family is taken care of and the job is done. We understand that when you’re Business Owners like we are the bottom line is important for the company to thrive and grow. We understand that a Company can’t stay in business unless it profits. We understand the economics of Business Development. But….. we also see how many families we help, with our competence and caring attitude. Scott and I are giving ourselves a big pat on the back because we are in it for the right reasons for our values, our families and our Clients.

It took Scott and I to be treated poorly to really understand what is most important to us as Business Owners and Realtors. It took our vacation our one week that we allow ourselves per year to finally get it and say to each another, “You’re doing it right!” “Good Job!” and “Keep up the good work”!

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale and video testimonials from our clients. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com

Like what you see? Subscribe to our blog.