Sarasota Real Estate & Short Sale Expert, Troy Funk with RE/MAX Platinum Realty, shares his personal experience of having to short sale his own properties to stop foreclosure in Sarasota County.
Real Estate Short Sale Success
Watch a short sale testimonial video. It's a story of one woman's fresh start after using a real estate short sale in Sarasota, Florida, to move past illness and financial hardship.
Stop Foreclosure with Real Estate Short Sales in Florida
Yes! The Florida short sale agent you select to represent you can make the difference between short sale success or foreclosure. Why? Because most unsuccessful short sales in Sarasota County, Florida, are the result of poorly trained short sale / real estate agents who do not have the experience or resources to complete the short sale process. Hiring a Florida short sale agent is usually free to the homeowner (your lender normally pays this expense on the HUD), and can be an essential asset to you in the negotiation and ultimate success of your short sale in Sarasota County, Florida. Bank of America recently reported that only 15% of their initiated Short Sales ever close. Our short sale success rate is nearly 100%.
Questions about Real Estate Short Sales
- What is a short sale?
- How do I qualify for a short sale in Florida?
- When should I start the short sale process?
- What are the steps I need to take in the Florida short sale process?
Questions about Foreclosure in Florida
- What is a foreclosure?
- Can I fight foreclosure with foreclosure defense in Florida?
- Should I file for bankruptcy when facing foreclosure?
- Can mortgage modification prevent foreclosure?
- Can forbearance prevent foreclosure?
- What is Deed in Lieu vs. Foreclosure?
- Should I consider Strategic Default when facing foreclosure?
- Should I try to get my mortgage reinstated when facing foreclosure?
Top 10 Short Sales Benefits–Sarasota County, Florida
Here’s our list of the top ten benefits of a real estate short sale in Sarasota County, Florida. However, since every situation is unique, we encourage you to speak directly with a qualified and experienced real estate agent to discuss your particular circumstances and concerns.
- 1. Short sales often prevent foreclosure in Sarasota County.
We have experienced this first-hand. In most cases, mortgage lenders prefer a short sale over foreclosure because it limits their loss (compared to taking ownership of the property through legal foreclosure proceedings). In many cases, a lender will delay a pending foreclosure in order to ratify a pending short sale.
- 2. Short sales often prevent a deficiency judgment, as they can often be negotiated as part of the short sale agreement. It’s a powerful advantage.
- 3. Short sale representation is usually free for the property owner.
Your lender generally pays the real estate commission and all expenses associated with a short sale. This means that nothing should hold you back from selecting a qualified and experienced short sale agent to work on your behalf.
- 4. Short sales often minimize credit damage.
In comparison with a foreclosure, which can take many years for financial recovery, a short sale is easier on many homeowners’ credit. Most short sales impact a credit score only 80 and 100 points, compared to 250–350 points with a foreclosure.
- 5. Short sales often quicken financial recovery. Compared to bankruptcy and foreclosure, financial recovery from a short sale is usually much faster. After a short sale, a homeowner can usually secure new mortgage financing within two years, compared to many more years with a foreclosure.
- 6. Short sales can be a non-taxable event.
If you qualify, the Mortgage Forgiveness Debt Relief Act of 2007 relieves short sale homeowners from having to pay taxes on canceled debt.
- 7. Short sales often make renting easier. In comparison with a foreclosure, which usually requires you to disclose “foreclosed” on an application, renting an apartment or home is generally much easier after a short sale.
- 8. Short sales allow you the dignity of staying in your home.
With a short sale, you can stay in your home until the property is sold, rather than being forced out by foreclosure. With a short sale, you can negotiate the closing date of your sale, which determines when you would leave.
- 9. Short sales are sold “as is.” Therefore, the homeowner isn’t required to make any costly repairs to the property prior to a sale.
If you want to learn more about real estate short sales or are facing foreclosure in Sarasota, Bradenton, or anywhere in Florida, please call Real Estate Agent & Short Sale Broker Troy Funk 941-365-8769 or E-mail Troy for a FREE 30-MINUTE PHONE CONSULTATION. Troy specializes in helping homeowners avoid foreclosure with short sales in Sarasota, Bradenton, and beyond, as well as facilitating short sales throughout Florida. He has been a licensed Real Estate Agent for over 24 years in Sarasota, Florida. In addition, he has earned the following Short Sale & Real Estate Designations: Certified Distressed Property Expert (CDPE); Certified Short Sales & Foreclosure Resource (SFR). He’s a member of the National Realtors’ Association, and is based out of Sarasota, Florida.
Troy Funk, CDPE, SFR
Sarasota Certified Distressed Property Expert
Sarasota Short Sales & Foreclosures Resource
Florida Licensed Real Estate Agent
For All The Latest Articles About Sarasota Short Sales And The Latest Sarasota Real Estate Listings, Visit Us At www.SarasotaShortSaleNEWS.com
Free Phone Consultation
Troy & Jenifer Funk, Short Sale Real Estate Agents
Sarasota Short Sale - Sarasota County
RE/MAX Platinum Realty
665 S. Orange Avenue #2
Sarasota, Florida 34236
Free 30-Minute Phone Consultation with Troy Funk, CDPE, SFR, Sarasota Real Estate - Licensed Agent
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