We hear a lot about Short Sales these days. A short sale is simply a sale where the homeowner is able to sell his or her property for less than what is owed to the lender. This avoids a foreclosure on the property, and both the seller and lender benefit from avoiding a short sale. If you are on my e-mail list, you can automatically subscribe yourself to receive notices of short sales by updating your e-mail preferences.
SHORT SALES INFORMATION ON OUR WEBSITE
We have introduced a general information section about Short Sales on our website (http://www.zilbert.com). This information will help both sellers and buyers understand more about short sales, and how they work.While the luxury market in Miami continues to show signs of recovery, there are increasing numbers of homeowners who are no longer able to pay their mortgages. In these cases, we are ready to help the homeowner avoid a foreclosure and sell their property. The numbers of short sales are actually quite small (much less than what most people think), but they exist just the same.
Zilbert Realty Group has created a short sale department where we will guide sellers through the process, and help them avoid costly fees. In fact, our short sales team will handle all aspects of the short sale, from the listing of the property to the negotiation with the lender. No attorney is necessary to execute this process, as it is handled by our staff. Also, the lenders prefer to negotiate with real estate brokers, above anyone else. The best part of the short sale for sellers is that their costs are ZERO. At the end of the process they walk away from the property, with no money due.
Our firm, like many others, had great success during the condo boom. We’ve embraced the short sales market as one way of giving back to the community. In a short sale, sales commissions are slashed and the amount of paperwork is staggering. So, there is a lot of work for us, for little money. But, we have committed to helping those who need us, and we will allocate resources accordingly.
