Lakeland FL Short Sale Agents | Call 863-619-6918 Get Top Short Sale Help

Lakeland FL Short Sale Agents | The Right Agent For You

On May 20, 2011, in Lakeland FL Short Sale Agents, by Petra Norris

Lakeland FL: If you’re a homeowner in a distressed property situation, you may be considering a short sale as a possible way to remedy your circumstances.

It would seem that Lakeland FL short sale agents abound because, in theory, any agent can perform a short sale transaction. You may want to ask a few questions that can help you ascertain the agent and your situation.

What is a short sale?
What are the alternatives to a Lakeland FL Short Sale?
What are the requirements to list my home as a Short Sale?
Is a short sale guaranteed?

A competent short sale agent will provide a quick response that accurately and comprehensively addresses both your questions and concerns.

Working as a Lakeland Fl Short Sale Agent, I hear and see constant mistakes so called Experts make and the person who gets hurt the most is you, the seller.

Not just any offer will do – Granted, the decision to accept an offer is up to the seller, however your lender and/or mortgage servicer still has to approve the amount. Listing or accepting an offer by any Lakeland FL Short Sale agent far below market value will not get approved by the bank and end up wasting time and effort for everyone.

During the evaluation process of your Lakeland short sale, there are steps lender take ascertaining fair market value of your home. Lenders hire appraisers and real estate agents verifying the value of your home, which needs to be within a certain range. If your home is listed far below fair market value, you may generate a lot of traffic- people hoping for a “too good to be true” price but your chances to receive short sale approval are highly unlikely. Pricing for a Lakeland FL short sale should be priced just like any other property.

Do your research when selecting a Lakeland FL short sale agent to work with. I have experience closing Lakeland FL short sales on both sides of the transaction as a listing agent and buyer’s agent I bring you comprehensive insight and understanding throughout the short sale process.

Do you need to sell your home as a short sale in Lakeland, Auburndale, Bartow, Winter Haven, Polk City, Highland City, Mulberry, Bartow, Kathleen, or Lake Alfred? Call or email me for a personal and confidential consultation.

Three E’s to Help You Find the Best Lakeland FL Short Sale Agents

On May 19, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, by Petra Norris

If you are struggling to keep up with the mortgage payments of your Lakeland FL home, short sales are probably one of the best solutions to your problem. Certainly, they have more to offer compared to having the bank foreclose on your home. Before anything else, though, you need to learn how to find the best Lakeland FL short sale agents to represent your home.

Experience

Short sales are one of the few areas in real estate that not all licensed agents or REALTORS ® have essential knowledge and experience of. Although short sales have been around the corner for so many years, they have only become quite the buzz word and caught homeowner’s attention when the country’s real estate industry suffered a backlash from the ultra-lenient policies of banks and creditors in the past.

Now that more and more homeowners are becoming aware of short sales as an alternative to foreclosures, more and more real estate agents are consequently scrambling to convince clients they have what it takes to close a short sale. Unfortunately, not all of them are telling the truth.

Experienced short sale agents in Lakeland are those who have been around long enough to know which lenders are more difficult than usual to negotiate with. Experience will teach them the answers to getting rid of obstacles that frequently stand in a homeowner’s way when they want to short sale their house.

Expertise

Many people mistakenly confuse expertise and experience with each other. In truth, you can be experienced without having expertise but you cannot have expertise without at least even a moderate amount of experience.

Expert Lakeland Florida short sale agents are the best in what they do. Because of that they also work more effectively and efficiently compared to other agents. Effectiveness is all about the amount of time one requires to complete a job. If you have an expert Lakeland FL short sale agent at your side, you can be sure that short sales which may have normally required a year to close would be finalized in a matter of months.

Efficiency, on the other hand, is all about resourcefulness. Short sale agents don’t just give up when the going gets tough. If Plan A doesn’t work to convince the lender to agree to a short sale, they have Plans B to Z to make subsequent attempts at negotiation.

Empathy

Last but not the least, Lakeland short sale agents who are able to empathize with their client homeowners is a must. After all, short sales are a matter of life-and-death for many homeowners. It would be a huge relief to them if they know that their agents are just as aware of this fact and are doing

Tagged with: lakeland fl short sale agents • Petra Norris

Lakeland FL Short Sale – Bank of America HAFA and Florida Incentive Success

On May 15, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, lakeland fl short sales, by Petra Norris

Lakeland FL Short Sale – Bank of America HAFA and Florida Incentive Success

Last year when Bank of America announced the Florida Incentive program giving homeowners up to $20,000 who successfully close on or before August 31, 2012. I was a skeptical of how exactly would it pan out for the homeowners. It turned out that not all of homeowners who thought would get such an incentive, there were some who did not qualified, however these homeowners successfully closed with a waiver of deficiencies.

I am happy to report that I love to do the happy dance when a short sale finally closes and sellers finally can walk away free and clear with a little cash to get on with their lives. Bank of America HAFA short sale which included a Florida Incentive payment for a successfully closed transaction on April 27, 2012 on a single family home in Lakeland FL.

The home has 3 bedrooms/2baths with about 1,689 living square feet. It was purchased in December 2007 for $169,500. It was sold for $118,500. A decline in market value of 30% within 5 years.

Liens:

1st mortgage balance of $156,000 with Bank of America

Hardship:

Curtailment of Income

I was contacted in October and shortly thereafter receiving all pertinent documents I marketed the property for $129,000 online in November. All required documents including HAFA application were sent through Equator for Bank of America and received an approval in February.

Seller received full waiver of deficiency as well as HAFA and Florida Incentive pay totaling $7,800, buyer received 3% closing cost assistance on USDA loan and closing took place on April 27, 2012 - It took 171 days from listing to closing.

Don’t be foreclosed! Do your research when selecting a Lakeland FL short sale agent to work with. I have experience closing Lakeland FL short sales on both sides of the transaction as a listing agent and buyer’s agent I bring you comprehensive insight and understanding throughout the short sale process.

Do you need to sell your home as a short sale in Lakeland, Auburndale, Bartow, Winter Haven, Polk City, Highland City, Mulberry, Bartow, Kathleen, or Lake Alfred? Call or email me for a personal and confidential consultation.

Tagged with: Bank of America • Lakeland Fl short sales • Successful Short Sale Closing

What Kinds of Documents Should Be Included in Lakeland Short Sale Packages?

On May 8, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agents, lakeland fl short sales, by Petra Norris

What Kinds of Documents Should Be Included in Lakeland Short Sale Packages?

Lakeland short sale packages are basically sets of documents used to prove the owner’s qualifications for short sales and – if available – information about potential buyer or buyers.

Get an agent.

Lakeland short sale packages are never something homeowners are meant to work alone on. It doesn’t matter if you consider yourself an old DIY pro when it comes to selling and buying real estate properties. Short sales are a different matter and are best entrusted in the hands of a professional agent.

With a skilled short sale agent, you will have a professional able to convince your lender about your eligibility for a short sale.

Be ready to confess the truth about your financial state.

It’s very damaging to one’s pride or ego to admit to any kind of financial difficulty – especially if it’s severe enough to have you served a notice of default or foreclosure. Even so, this is one of the things you have to do when writing a short sale hardship letter, which is one of the most essential documents in Lakeland short sale packages.

Although your agent can help you find the right words to use, they can only provide you with guidelines. They cannot, however, write the letter in your place. This is something you have to do on your own and preferably handwritten as additional proof of your identity.

Show them the numbers.

Some homeowners erroneously assume that a short sale hardship letter says it all. Even so, creditors would typically want proof – the quantifiable and verifiable kind – to substantiate what you have shared in your letter.

As such, Lakeland short sale packages should also include financial documents that prove a homeowner’s current or potential inability to pay his monthly dues. This means submitting payroll stubs if you are employed or financial statements if you have your own business. You should also provide copies of your tax returns to show all your sources of income and bank statements to prove how little savings you have.

Let them know that there’s interest.

In other words, Lakeland short sale packages should also include contracts certifying a buyer’s intent to purchase your property. Lenders typically prefer to approve short sales with sure buyers, hence the need to make this aspect known as soon as you have a buyer or buyers confirmed. Lenders will also want to know the varying amounts they have offered to purchase your Lakeland FL home. Just be aware that even with the most reasonably priced offers, there’s still a chance for lenders to disapprove of applications for Lakeland short sales. Ultimately, it’s their call but if you have a good agent then it could still be up for discussion.

Tagged with: lakeland fl short sale agents • short sale documents

Another Successful Bank of America Short Sale – 506 Buckshot Lane – Lakeland FL

On May 8, 2012, in Lakeland FL Short Sale Agents, by Petra Norris

Another Successful Bank of America Short Sale – 506 Buckshot Lane – Lakeland FL

We as short sale agents feel exactly what sellers are going through, we feel their emotion, their anger because the servicers/lenders declining their Florida Incentive even when told first they would qualify, HAFA decline, their angst what happens next – but all that goes by when short sale is successful, such as this one and the reward from a great testimonial.

Thanks so much for helping me sell my home in a reasonable amount of time . Not only were you there for me professionally but emotionally as we sold my beloved home. The real estate market can have many surprises as well as confusing and tricky paperwork . Thanks for being my liason with my bank. You made everything easy to understand. I especially appreciate the fact that you were honest, quick in getting back to me if I had questions, promptly advised me if there were any concerns with the contract and tried to get the best possible deal/contract you could for me.
I will definitely be calling you again, when it’s time to purchase my next home.
Thanks,
Doris

Sharing my successful short sale closing:

I am delighted to report another successful short sale closing that took place on April 26, 2012. The home is located in Lakeland, FL it was built in 2006. It is a 4 bedroom/2 bath home which has about 2,550 square feet of living space. They purchased the home in 2006 for $235,900 as their primary residence.

Liens – There were two mortgages on the home with Bank of America – Mortgage Balance $174,400 and $19,600

Hardship – Divorce

I was contacted in September and listed the property shortly after I received all pertinent documents for $135,000 in September 2011. Contract was accepted after first buyer walked, the purchase price was $125,000 and accepted on March 19, 2012. Everything was submitted to Bank of America through the Equator System. Bank of America countered to $130,000 and buyer accepted. On April 11, I received a short sale approval letter notifying me that Bank of America accepted the short sale.

Mortgage Balance: $194,000

Purchase Price: $130,000

Difference of: $64,000

Closing took place on April 26, 2012 – it took 212 days from listing to closing.

The Seller received Full Waiver of Deficiency without any cash contribution and/or promissory note.

As a Lakeland FL Short Sale agent, I can tell you that short sales close. Call me at (863) 619-6918 to talk about your options on how to avoid foreclosure.

Tagged with: Bank of America • Bank of America Short Sales • Lakeland Fl short sales • Successful Short Sale Closing

Welcome News For Lakeland FL Short Sale Agents – Bank of America Aims For Faster Short Sale Approval

On April 12, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, lakeland fl short sales, by Petra Norris

Welcome News For Lakeland FL Short Sale Agents - Bank of America Aims For Faster Short Sale Approval

This is welcome news for anyone involved with short sales in Lakeland FL. As a short sale agent specializing in the Lakeland real estate market I would like to express that I had my share of ups and downs with Bank of America, however if you compare short sales from two years ago, it is my opinion that Bank of America always strives for faster approval process. They have come a long way from when I first started selling short sales. Homeowners who have gone through or are going through a short sale process right now, know good and well that this process is very time consuming and most of all frustrating, especially when it comes to repeat the submitting of bank statements, pay stubs, 4506-T, tax returns over and over again. Bank of America says that this duplication of documents should stop with streamlining the short sale process.

I do want to send out a caveat when it comes to such an announcement. I suspect that it will take some time until they have all the kinks straightened out, it’s like growing pains with a new software or revamped software like Equator. Lakeland FL short sale agents, like myself, have used Equator for some time now and all documents which are uploaded into Equator must be complete, it becomes important that I educate and inform future sellers and buyers of the newest requirements.

As a Lakeland FL short sale agent I take part in various training seminars a lender such as Bank of America provides. The most successful way a short sale is getting approved in a timely process is provide the bank with what they require. With the announcement to approve short sale in 20 days, they also announced that certain documents are required at the time when a short sale is initiated with or without an offer. I’m here to share with you the new forms that pertains to real estate agents, sellers, buyers and anyone who is interested in a short sale that has to do with Bank of America, which are required.

If you are looking to avoid foreclosure and your loan is currently owned or serviced by Bank of America you may want to familiarize with these forms or why don’t you just pick up the phone and call me at (863) 619-6918 or email me at brokerpetra[at]gmail.com to go over your options.

Bank of America Short Sale Forms

Tagged with: Bank of America • Bank of America Short Sales • Lakeland Fl short sales

Bank of America and Citi Mortgage Short Sale Success – Lakeland FL

On March 28, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, lakeland fl short sales, by Petra Norris

Bank of America and Citi Mortgage Short Sale Success – Lakeland FL

I love to do the happy dance when a short sale finally closes and seller and buyer are happy campers. Another short sale successfully closed on March 26, 2012 on a single family home in Lakeland FL – Christina Community with Bank of America and Citi Mortgage.

The home has 3 bedrooms/2baths with about 1,954 living square feet. It was purchased in November 2006 for $245,000. It was sold for $130,000. A decline in market value of 47% within 5 1/2 years.

Liens:

1st mortgage balance of $184,000 with Bank of America

2nd mortgage balance of $46,000 with Citi Mortgage

Hardship:

Curtailment of Income

I was contacted in November and shortly thereafter receiving all pertinent documents I marketed the property for $149,000 online by the end of November. An offer was negotiated and a contract was signed in December. All required documents were sent through Equator for Bank of America and faxed (80 pages) to Citi Mortgage. After Bank of America denied HAFA, we reinitiated a regular short sale through Equator. After negotiating the terms with Bank of America a short sale approval letter was received on February 22, 2012. Keeping Citi Mortgage updated of the status, ironically once I told Citi Mortgage that I received an approval letter from Bank of America, within an hour I received an approval letter from Citi Mortgage as well.

Seller received full waiver of deficiency on both loans, buyer received 3% closing cost assistance on a conventional loan and closing took place on March 26, 2012 - It took 117 days from listing to closing.

Please call Petra Norris (863) 619-6918 if you need help selling your Lakeland FL home as a short sale.

Tagged with: Bank of America • Citi • lakeland fl short sale agents • Lakeland Fl short sales • Successful Short Sale Closing

Is Your Lakeland FL Home FHA Insured And You Need To Sell As A Short Sale?

On March 14, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agents, lakeland fl short sales, by Petra Norris

Is Your Lakeland FL Home FHA Insured And You Need To Sell As A Short Sale?

There are many short sale programs to help distressed homeowners sell their home. Today, I want to make you aware of FHA insured home loans and the requirements necessary to get your home approved for a short sale under the FHA (Federal Housing Administration) also known as Pre-Foreclosure Sale (PFS) Program guidelines.

To complete a short sale successfully, the following eligibility criteria must be met:

The property must be owner-occupied, except for cases of job transfer, job loss, divorce, death, and the property was not purchased as a rental investment, or used as a rental for more than 18 months.

You must be 31 days delinquent at the time of sale/closing

Written proof of decrease in income and your inability to pay your mortgage through job loss, death, etc.

Approval to participate in the FHA/HUD Short Sale program must be granted in advance.

The property must be actively marketed for 120 days (up to six months) – restrictions apply as to what amount lender may accept: First 30 days of marketing the lender (mortgage holder) may only approve offers resulting in a minimum net sale proceeds of 88% of the as-is appraised fair market value (FMV). The next 30 days, lender may only approve $86% of FMV and thereafter short sale lender may result in a minimum of 84% FMV.

Additionally, the following are allowed settlement costs:

Up to 1% of buyer’s first mortgage amount if sale includes FHA financing
Sales commission not to exceed 6%
Reasonable “seller costs”, such as local/state transfer tax stamps, title search and owner’s title insurance
Discharge of junior liens if closing occurs within certain time frames of closings.

Settlement costs that are not allowed:

Repair reimbursements or allowances
Home Warranty fees
Discount points or loan fees for non FHA-financing
Lender’s Title Insurance fees

Remember these are guidelines and therefore subject to change. Here are more details of the HUD/FHA Pre-foreclosure Sale program (PFS) as well as additional information at FHA/HUD National Servicing Center.

If you need to sell your home as a short sale, please contact Petra Norris at brokerpetra[at]gmail.com for more information.

Tagged with: FHA • HUD • lakeland fl short sale agents • Pre-foreclosure

Client Testimonial For A Successful Short Sale Transaction

On February 21, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, lakeland fl short sales, by Petra Norris

Client Testimonial For A Successful Short Sale Transaction

As Lakeland FL Short Sale specialists we take pride when taking on a short sale. Treating sellers with respect, dignity and empathy is foremost as they deal with this chapter in their lives. Being proactive, tenacious and assertive, we make sure that lenders understand our seller’s positions and that it is in everyone’s best interest is to avoid foreclosure.

Lakeland Fl homeowners who go to a short sale process know exactly how nerve wrecking it can be whether or not one, two or three mortgages are involved. There are always last minute things that can come up, such as buyer changing financing programs, permit issues, hospitalization, lender charging extension fees for the short sale and the list goes on.

We as short sale agents feel exactly what sellers are going through, we feel their emotion, their anger because the servicers/lenders are not responding, their angst what happens next – but all that goes by when short sale is successful, such as this one and the reward from a great client testimonial on a recent successful short sale transaction:

“Petra handled every aspect of our short sale with real knowledge of the process and a true desire to help us in a time of need. The short sale went so smooth because of her experience, something we don’t believe we would have found using another company. We are glad we chose Petra as our agent and will recommend her to anyone who is looking. Thanks, Petra, for making this sale happen and for your support through the entire process!” David

Do you need to sell your home as a short sale in Lakeland, Auburndale, Bartow, Winter Haven, Polk City, Highland City, Mulberry, Bartow, Kathleen, or Lake Alfred? Call 863-619-6918 or email me at brokerpetra[at]gmail.com for a personal and confidential consultation.

Tagged with: lakeland fl short sale agents • Lakeland Fl short sales • Successful Short Sale Closing • testimonial

Successful Short Sale Closing With Nationstar Mortgage Near Lakeland FL

On February 16, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, lakeland fl short sales, by Petra Norris

Successful Nationstar Short Sale Closing – Mulberry FL Near Lakeland – Polk County

I am delighted to report another successful short sale closing that took place on February 1, 2012. The home is located in Mulberry, FL which is located very close to Lakeland in the Imperial Lakes community. The home was built in 1977. It is a 3 bedroom/2 bath home which has about 1,430 square feet of living space. They purchased the home in 2006 for $153,000 as their primary residence.

Liens – There was only one mortgage on the home with Nationstar – Mortgage Balance $145,000

Hardship – Curtailment of Income.

I was contacted in August and listed the property shortly after I received all pertinent documents for $85,000 in September 2011. Contract was accepted with a purchase price of $83,000 on September 22nd and everything was submitted to Nationstar Mortgage through the Equator System. On November 28th I received a short sale approval letter notifying me that Wells Fargo accepted the short sale.

Mortgage Balance: $145,000

Purchase Price: $ 83,000

Difference of: $62,000

Closing took place on February 1, 2011 – it took 148 days from listing to closing. This transaction required two extensions due to the buyers change from USDA to FHA.

The Seller received Full Waiver of Deficiency without any cash contribution and/or promissory note. In addition the buyer received 3% closing cost assistance.

As a Lakeland FL Short Sale agent, I can tell you that short sales close. Call me at (863) 619-6918 to talk about your options on how to avoid foreclosure.

Tagged with: lakeland fl short sale agents • Petra Norris • Successful Short Sale Closing

Tips to Keep Things Positive between You and Your Short Sale Agent

On February 7, 2012, in lakeland fl short sale, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agent, Lakeland FL Short Sale Agents, Lakeland FL Short Sale Specialist, lakeland fl short sales, by Petra Norris

Selling a home is no easy task, and it becomes even more difficult for everyone concerned if your financial future is at stake or if you are feeling sentimental about the potential loss of your home. Tempers could run high in certain situations and you could end up saying things that would spell the undesirable end to your working relationship with your short sale agent. Thankfully, keeping in mind the tips below can help ensure that the relationship between you and your realtor remain positive and mutually beneficial.

Be clear about your goals.

It’s important that you are up front with your short sale agent. Let him or her know why you believe a short sale is the ideal route to take in your case. Assuming that your agent agrees with you, he or she is unlikely to do anything you’re unlikely to approve of.

Be clear about your expectations.

You should also be up front with your agent about what you expect he or she can help you with. If it’s paperwork for short sales that you are most worried about, then talk to your agent about it right from the start. This way, your agent could prepare for it as well.

Be patient.

It’s understandable that you want your home sold as quickly as possible and for the best price. Be reminded, however, that your agent likely want the same thing, too, and as such is probably doing the best he can to close the deal.

If your property isn’t selling as quickly as you hoped it would, it’s impractical to think that your agent’s somehow as fault. A lot of factors could contribute to the delay, and calling your agent every minute of the day will not speed up the process in any way. If anything, your constant calls could be preventing your agent to effectively market your property.

Come up with a mutually beneficial schedule for communicating.

You’re busy, and your agent’s busy. Nevertheless, constant or regular communication is still essential so that both of you are updated about any new changes or events that may have bearing on your short sale property. To ensure that you and your agent are always on the same page about selling your home, both of you should come up with a schedule for when and how often you should have a talk about your property.

Tagged with: Lakeland Real Estate Agents

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Lakeland FL Short Sales
Petra Norris CDV TransAtlantic, Inc. Real Estate Brokerage‎ 342 Montebello Court Lakeland, FL 33809 (863) 619-6918

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