When it’s time to sell, you must be confident that every element of negotiating the best terms and the highest price has been set before your home is even listed.

Start with the resources I’ve provided. There is no charge for this information. These will help get you started in terms of assessing your real estate situation and planning for a stress-free and successful sale.

The real estate market in Tampa is volatile, especially lately, and it takes an experienced professional to move your house quickly, professionally, and profitably.

When you’ve decided to sell, I will be your advocate, your guide, and your fierce negotiator. I will work hard to make yours a great sale.

I look forward to it.

Sincerely,
Bob

SHORT SALE Information for Sellers

When home values decline, many sellers find themselves in a situation where the mortgage balance exceeds the current market value of the home.  Even getting full market value will not pay off the mortgage, and closing costs.

If you have the assets to cover the difference between what you owe the bank(s) and the selling price, then the bank will want you to pay that amount, and will likely not consider a short sale.  Assets may include cash, stocks, bonds, or equity in another property for example.

If you need to sell, and cannot pay the difference plus closing costs, it's a good idea to talk with the bank prior to listing the house for sale, and provide proof that you do not have the assets for covering the difference.  In this case, the bank may agree to plan on a short sale, where they will forgive a portion of your loan which cannot be paid, rather than foreclosing - ultimately saving the bank money.

The listing will note Short Sale / 3rd Party Approval Required.  You can negotiate an offer to an agreement, then your propsed sale contract will be given to the bank's loss mitigation department.  They will determine if they will accept the price, along with other expenses in the contract offer.  The bank's acceptance usually takes from 3 to 7 weeks.  During this time, your Listing Agent will continue to market for other offers.  You do not have an executed contract until the 3rd party (bank) signs the offer.  During this time, the potential buyer (or seller) may cancel for any reason.

Other Pre-Foreclosure Advice

When homeowners are struggling to pay the mortgage, "sharks" will begin to circle.  They promise to help you with the situation, and set up an appointment at your home to discuss their plan.  Usually, they arrive with THEIR attorney, and a video camera.  (That should be a red flag!)  They film themselves giving you $5 or $10, and you signing the deed over to them.  This usually results in them owning the house free and clear, and you still owe the mortgage to the bank(s).

If you are contacted, and want to see their offer, bring your own real estate attorney to the meeting.

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