Wellington Short Sales Where Cash Is King!
Does having an ALL CASH offer on a Wellington short sale listing give you an advantage?
Yes, it does!
Cash is King and there are many reasons why having an ALL CASH buyer or if you are the buyer, an ALL CASH offer on a short sale listing in Wellington Florida. As long as the cash offer is a reasonable offer there are benefits to having ALL CASH to close.
1. When you have an ALL CASH offer we do not have to submit an approval letter from a lender to the seller’s short sale lender. You do have to have a statement from your financial institution or stock brokerage that you do have the cash to make the purchase, that is called a ‘verification of funds’. This will save a little time in the negotiating process.
2. When you have an ALL CASH offer on a Florida short sale listing you are the boss of your cash and you don’t have a mortgage banker telling you what you can do with your cash. Therefore, should a short sale seller not have the funds to pay off his HOA fees or his lender needs a cash contribution and he does not have all of it, a cash buyer can help out.
3. When you have an ALL CASH offer in many situations with many lenders we can get them to move faster on an approval. We have been able to get approvals with ALL CASH offers from certain banks in 3 days or less! It is all about having Wellington short sale agents who really know how to negotiate the terms and who know who to go to at the seller’s lender to get the answer.
4. When you have an ALL CASH offer the seller’s short sale lender will expect you to close quickly once they send us the approval letter. This is great because if the seller is close to foreclosure you will be able to close and the seller won’t get foreclosed on. Many times buyers who get loans need extensions because their lenders are not ready in the time the seller give to them to close.
To find out more about Wellington Short Sale Agents go to: http://wellingtonfloridashortsales.com
Loxahatchee Groves is an equestrian community and also is adorned with many garden nurseries where you can buy tropical palm trees, fruit trees and landscaping plants.
There was a stigma over Loxahatchee for a while over a cancer cluster scare. This hurt the property values. Those buyers who were keen to the fact that these kinds of rumors tend to go away after a while were able to take advantage of some great prices being offered in Loxahatchee.
But like the rest of South Florida property values took a hit in Loxahatchee when the real estate market when bust.
This has created a lot of homes that are underwater on their mortgages. If you are planning to live in your home for a long while then now is not the best time to sell in most situations. But if you get relocated for work, get sick, lose your job or many other reasons- you may need to think about doing a Loxatchee short sale and choose an agent who knows how to do short sales and understands the Loxahatchee market.
Loxahatchee Short Sale Agents- Short Sale VS Foreclosure
That is not always the best option. We are not attorneys but we do know a lot about the short sale process. We have been helping short sale sellers since 1995. This is not the first downturn in the housing market we have worked through.
What is the difference between a short sale and a foreclosure?
A Foreclosure is when the bank takes your house away from you through a judicial court procedure here in Loxahatchee Florida.
The most common reason that the bank files a foreclosure summons and complaint against you is when you stop making your mortage payments. If you stop making your mortgage payments you could lose your home to foreclosure.
A short sale is a way to avoid foreclosure. A Loxahatchee short sale is when you negotiate an agreement with your bank for them to accept less than you owe to them when you have a buyer for your home.
At the completion of a Loxahatchee short sale you will be asked to vacate your property. If your home is your Loxahatchee Florida primary residence you may qualify for a HAFA short sale.
In a HAFA short sale you will be getting up to $3000 to move out of your home to help you with your relocation expenses. If you have an old WAMU or old WACHOVIA loan you may be able to even get up to $20,000 from the proceeds of your home when you sell it to a buyer even though you are under water on your mortgage.