Buyers

Script for Zillow Zestimates   OK, so I was just offered  to download a script from Zillow so I would know what to say to clients when they ask about zestimates.  Really?  Why do I need a script?   Seriously, I have never used a script in my life.   I speak spontaneously and simply tell it like it really is: which is different from Zillow Zestimates.   Zillow is misleading   No, not intentionally.   Zillow Zestimates is simply data...

Short sale VS. Foreclosure Most consumers and many agents are confused about the difference between a short sale and a foreclosure.  Here is a simple comparison:   Short sales are properties where more money is owed then the property is worth.  In order to sell the property, the price will be less than the mortgage, so the bank has to agree to take a "short" payoff.   That is why they are called "short sales".   Short sale   The property is owned by a ...

What is a Florida Estoppel Letter?   One of frequent questions we receive from home buyers is "Do I have to pay the sellers HOA or condo debt?"  Unless the buyer agrees to it in the contract, the answer is "No". The buyer does not have to pay it.  But what is a Florida  Estoppel letter?   A Florida estoppel letter also called estoppel certificate is a legal document that can be relied on for the sellers current financial status about what is owed to the Home Owners As...

Everyone wants to be a landlord.   We get many calls from home buyers who want to buy a rental property because they think they will get rich.  I have been a landlord for 35 years and I am still waiting to get rich...ha!   It is just not that simple.   Think that you qualify to be a landlord?   Stage 1:  Buy a rental property. Stage 2:  Be a landlord for 3 years. Stage 3:  Sell the property as an don't wanna be a landlord...   The reali...

 What is FIRPTA?   F.I.R.P.T.A. is an acronym for Foreign Investment Real Property Tax Act.  It was established in 1980 for the purpose of withholding the estimated amount of taxes which may be due on the profit  of the disposition of a U.S. Real Property Interest from foreign persons.  10% of the gain on the sale is withheld as anticipated tax due on the sale of U.S. real property interest. Who is responsible for FIRPTA?   Even though FIRPTA sounds like a forei...

1. What is the property really worth?   Home buyers have no clue what a property is worth, which is why home buyers should never buy a home alone or a FSBO (For Sale By Owner) without a good buyers agent.   Zillow cannot help either, which is why their value opinion is called a "zestimate" instead of an appraisal.   When home buyers look at a property of interest, they incorrectly assume that the seller expects to discount the property by lets say 10% or more....

Winter Park, Florida has new construction homes! Winter Park, Florida located just 10 minutes from Downtown Orlando, is famous for Park Avenue, brick paved streets, mature oak trees, and luxury properties.   Winter Park is a very sought after area due to it ambiance, conveniences, beautiful neighborhoods, history, culture, restaurants, grocery stores, and central location.   Even though this is an old historic area, there are still Winter Park New Construction homes ...

Educate yourself on Renovation Loans   Renovation loans can help home buyers roll remodeling costs into the loan.  These renovation loans allow the buyer to update the home to their preferences, and reduce the amount of cash needed from their pocket when buying a home that needs fix-up.   Before you consider buying a fixer upper or outdated home and are thinking of getting a renovation loan you need to understand the complexity.   Buying a home with a renov...

Financing a home is serious business...   Smart home buyers who take financing seriously, need to develop a close relationship with their mortgage broker in order to avoid financing pitfalls.   One way to get a great overview is to understand the 10 Commandments for Financing a Home.  These could be critical for your success in getting a loan.   Financing has gotten tougher for home buyers   Evaluating a borrowers qualifications for a loan is not what it ...

Agents love the term "win win" in Real Estate   Brokers say it all the time. They will say something like " I negotiated a "win win" deal. Real Estate is a "win win" situation. Really? For whom?   OK, so I admit I dislike that term...I just don't see how a buyer and a seller who have opposing interests can both win.  At the same time.  Not happening.   Agents will then go on to say something canned right out of the coaching books like... "well, the seller wan...