REALTOR TOOLKIT
One out of every five transactions in Florida involves Distressed Property. Get informed and get the deal done right.
EDUCATION
The Alliance for Homeowners helps you meet the special needs of the distressed real estate deal with education, legal expertise, and with your best interests in mind. The Alliance also offers continuing education seminars to prepare Florida Real Estate professionals for today’s constantly changing real estate market.
LET US
HELP YOU!
The Alliance is ready to help you take action to save your client so you can save your deal. Find a local Real Estate Attorney to help you close your deal.
Florida ARECS and its real estate council members provide timely and valuable educational opportunities for real estate agents.
Take a few minutes and view this excerpt from “Dealing with Distressed Real Estate” conducted by the Attorneys’ Real Estate Council of Palm Beach County for the Realtors Association of the Palm Beaches. It’s just one of many programs available.
ATTORNEY BENEFITS
As a Florida real estate agent, you may question why it is to your advantage to consult with a Real Estate Attorney when selling distressed properties.
There are many advantages to having a Real Estate Attorney by your side every step of the way.
Consult with A Real Estate Attorney to learn the ins and outs of the real estate transactions process.
- Negotiate Short Sales
- Negotiate Elimination of Deficiencies
- Explain Short Sale Approval Letter to Seller
- Issue and Explain Title Insurance
- Address Probate Issues
- Address Tax Issues
- Address Bankruptcy
- Work with Foreign Sellers to comply with FIRPTA
- Intervene if Property is in Foreclosure
- Help Real Estate Professionals avoid UPL and Conflict of Interest Liability
ADVISING HOMEOWNERS
With a significant number of mortgages in a distressed state, more homeowners than ever are turning to Real Estate Professionals for advice on what to do with their homes. If they have exhausted other options, including forbearances, mortgage modifications and government programs, it may be in their best interest to look into a short sale.
ADVANTAGES OF SHORT SALES
AVOIDING FORECLOSURE
Going through foreclosure and losing their home can be an embarrassing situation. By going through a short sale, the homeowner retains dignity in selling their home.
UNDER FANNIE MAE GUIDELINES
Homeowners will be eligible to buy another home in two years as opposed to foreclosure, which can be between five and seven years before they can buy a new home.
NO MORE MORTGAGE PAYMENTS
The homeowner may be able to get out from under the mortgage and walk away owing nothing.
IT’S MORE FAVORABLE THAN THE ALTERNATIVE
On average, foreclosures can reduce the homeowner’s credit score by over 250 points. In a short sale, reductions are typically 100 points or less.
RESOURCES
Helpful links with more information and some of the options available for Florida Real Estate and distressed homes.
REALTOR TOOLKIT
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