SHORT SALE & FORECLOSURE REAL ESTATE
When the net proceeds of a real estate sale are insufficient to pay back the total commitment of the loan by the Borrower and the Lender agrees to accept less than the amount owed or borrowed on a property.
Please contact Luxury Resort Portfolio,* ** *** your South Florida / Boca Raton Luxury Real Estate Short Sale Listing and Buying Specialists if you have additional Short Sale questions, concerns or to schedule an appointment to tour any of these South Florida / Boca Raton Short Sale or Foreclosure real estate listings. Luxury Resort Portfolio * ** *** has extensive experience in effectively coordinating and assisting both Homeowners and Home Purchasers through the entire Short Sale process… culminating in a successful and completed Short Sale transaction.
Buyer Short Sale Process: *
1. Seek the services of an experienced South Florida / Boca Raton Luxury Real Estate Short Sale Buyer’s Specialist
2. Submit to Selling Real Estate Broker an “As Is” Purchase Contract with an attached Short Sale Addendum
Seller Short Sale Process: * ** ***
1. Contact your Lender(s) to see if you are eligible for a Short Sale, and if so, request a Short Sale Package
(Documents required by the Lender from the Homeowner for the Lender to qualify and approve a Short Sale)
2. List the property with a skilled and experienced South Florida / Boca Raton Luxury Real Estate Short Sale Listing Specialist
3. Prior to receiving an offer for your property, your South Florida / Boca Raton Luxury Real Estate Short Sale Listing Specialist will submit the Short Sale Package to the Lender for approval of all documents in the Short Sale Package
4. Once all Short Sale documents have been approved by the Lender, your South Florida / Boca Raton Luxury Real Estate Short Sale Listing Specialist will note such on the Multiple Listing Service (MLS) to alert Cooperating Real Estate Brokers of a Completed Short Sale Package
5. After receiving an offer for the property, your South Florida / Boca Raton Luxury Real Estate Short Sale Listing Specialist will submit a signed Purchase Offer to the Lender along with a Preliminary Settlement Statement (HUD – 1) and the Exclusive Right of Sale Listing Agreement
6. A Negotiator representing the Lender will be assigned to your file and will contact your South Florida / Boca Raton Luxury Real Estate Short Sale Listing Specialist to coordinate, assist and facilitate the transaction on behalf of the Lender and / or Investor servicing the loan
7. Please note, the Short Sale purchasing process can take anywhere from thirty days to one hundred and eighty days or more to complete, if at all, depending on the Lender
* Luxury Resort Portfolio recommends that both the Short Sale Purchaser and the Short Sale Seller contact and retain the services of legal counsel and a tax adviser prior to entering into a Short Sale agreement.
** MARS Disclosure for General Commercial Communication
Luxury Resort Portfolio,LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
*** MARS Disclosure for Consumer Specific Commercial Communications
You may stop doing business with Luxury Resort Portfolio,LLC at any time. You may accept or reject the offer of mortgage assistance Luxury Resort Portfolio,LLC obtains from your lender or servicer. If you reject the offer, you do not have to pay Luxury Resort Portfolio,LLC. If you accept the offer, you will have to pay Luxury Resort Portfolio,LLC 6.0% of the final sales price for our services.
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