Category Archives for Wellington Short Sales

How Can Wellington Short Sale Specialists Help with Listings?

Wellington short sale specialists are every homeowner’s best friend when it comes to having listed their property. Many homeowners mistakenly assume that putting up their home for sale is as simple as submitting an ad to a website or broadsheet and then waiting for their phone to ring. If only it were that simple!

Creditor requirements                       

Before you can list your property for short sale, it’s possible that you may be required by your creditor to provide additional information about your home. Chase, for instance, requires homeowners or – more specifically their short sale agents – to provide the following information if and when they are asking for more than $250,000 to be waived or forgiven with the short sale.

  • A history of the property’s price reductions
  • Showing appointment sheet
  • Marketing strategy
  • A complete list of ads for your property

As you can see, such information is not something a homeowner is generally equipped to provide. With the marketing strategy alone, you would have to convince the creditor that you are taking the necessary steps to make your property’s short sale not only successful but quickly accomplished as well. You would also have to take careful note of when and where all the ads for your property are appearing.

In some cases, your creditor – not just Chase, mind you – may also ask you to provide a report explaining the current condition of the real estate market in your area so as to justify the need for a short sale.

Improving quality of photos

The best Wellington short sale specialists would always be the first to tell homeowners that photos can be their most powerful tool for short sales. According to one survey, listings which are accompanied with at least 21 photos of the property being sold are the first to sell and get the most number of views as well.

A good Florida short sale agent will not only ensure that you have the right number of photos for your property. He or she is also likely to make sure that each photo you take and put up with your listing would have the ideal quality as well.

Accurate MLS listing

MLS stands for multiple listing services, and it can easily be another source of headache for homeowners who insist on doing things on their own. Without a qualified agent, you can’t really get your property included in the MLS for your area. You won’t even know how to make your property stand out in such listings even if you were given the chance to write your own ad.

MLs are for and by real estate agents and they provide substantial information about local real estate markets. This is one of the best places to have your property listed for short sales, but you can only do that with the help of a good Florida short sale agent.

Florida Homeowners’ Complaints Rise Against Attorneys

Florida Homeowners’ Complaints Rise Against Attorneys

The Florida Bar reported that they have received over 1,400 complaints against attorneys in Florida that are related to the housing crisis. 

Let me preface that Richard Zaretsky and Marlyn Weiner are attorneys we refer sellers to. These two attorneys are ethical. Let me also say that there are good attorneys and bad attorneys just as there are good real estate agents and bad real estate agents. 

Sometimes if a homeowner has not been paying their mortgage payment for many years and their attorney is not getting paid to defend them anymore, they may lose their home eventually to a foreclosure. The disgruntled homeowner than complains that his attorney committed fraud. 

Marlyn Weiner says this is the most common call out, fraud. But not all cases are fraudulent. 

In fact, so many complaints are coming in that the Florida Bar had to start a loan modification category, a mortgage fraud category and a foreclosure fraud category. None of these categories existed before 2010.

The first recorded loan modification complaint was in November of 2010. I won’t say any names but I can bet I know who that complaint was against. There was this one attorney who was doing loan modifications and foreclosure defense and several of our sellers had hired him. He did not even show up to the foreclosure hearing as agreed in one of the cases. In another case, he took our sellers money for services to defend them in a foreclosure and he never responded to the plaintiff’s counsel. 

The number of complaints is not stopping either. The Florida Bar had to an attorney to help the ones that are buried in these complaints. They have never seen anything like this in the history of the Florida Bar. This one attorney is trying to take care of these cases. The complaints account for 17% of all the open Bar cases. 

Consumers are complaining about the conduct of attorneys. So far 793 cases are now opened. 

So far 208 of the 1,394 housing- related cases resulted in some form of disciplinary actions against the attorneys in the complaints. The disciplinary actions range from public reprimand to disbarment. 

The biggest problem is that many lawyers took classes in loan modifications and then started to process them. But just going to a class does not make you proficient in doing loan modifications. 

Here in Florida a law passed in 2010 requiring licensing for any person or entity doing loan modifications in this state.

In 2008 a Florida law was passed that bans charging up front fees to do loan modifications. 

Attorneys were the exception to this law. Marlyn told us that many of those third party loan modification companies then approached lawyers to make deals with them in order to continue to run their businesses here but through the attorney’s firm. Many of these attorneys must not be happy with this arrangment they got themselves into. 

We believe that the next wave of complaints will be coming from homeowners who felt they were pushed into doing Deed in Lieu instead of short sales. Many attorneys get paid up front and a flat fee rather quickly for getting a Deed in Lieu through instead of waiting for a short sale to get approved. 

If you are facing foreclosure- you do have options. Contact Nestor Gasset or Katerina Gasset at 561-753-0135 to go over your options. A Florida short sale may be an option for you. We offer a no obligation confidential phone interview. Don’t wait until a court date is in your hand to act. 

Read our Florida short sale testimonials here. 



Wellington Home Prices- Higher Home Prices?

Wellington Home Prices- Higher Home Prices? 

The South Florida real estate market is heating up! And Wellington is part of South Florida:) This is great for our real estate markets. 

The South Florida real estate market is improving. The forecast is that home prices will rise another 6% before the end of this year. 

Forecasters put Palm Beach County, Broward County and of course Miami/Dade counties to be in the top 10 highest and best performing markets in metro markets!!! 

Of course there are pockets and areas within these counties that are still going to be going down in price for the next year or so. But the affluent and sought after markets have started to rise and will continue to go up. 

These three counties were the first to fall- a huge fall in the bust. Following were Nevada and California markets followed by Arizona markets. But first to fall are first to rise! 

From the collapse of the real estate market- most of South Florida saw prices plummiting down 50% to 60% from the boom prices. We are back to 2003 and 2004 prices in most places in South Florida. 

Less than one third of all the sales taking place right now in South Florida are foreclosed properties. That number will be in flux for a while as the lenders continue to foreclose on properties stuck in the courts. 

Phoenix is projected to have the highest increases in prices up to about 12.1 %. That is good news for Phoenix also! 

About 60% of all the sales in South Florida are ALL CASH purchases. This helps keep the markets healthy and there does not seem to be any let up in foreign buyers eager to own a piece of Paradise in South Florida! 

Top 4 Reasons Why Wellington Short Sales Take So Long

Although the word “short” in Wellington short sales technically refers to the decrease in the home’s selling price, most people nevertheless assume that it may also means a minimal waiting period – or maybe even none – for its processing. Unfortunately, the opposite’s more often true than not and here are the five most common reasons for it.


You are your own worst enemy. No doubt you’ve heard that line before, and it certainly applies to the short sale process. Short sales can be pretty distressing and especially when you find it particularly hard to admit to financial difficulties in your hardship letter. Just be reminded that the longer you delay the inevitable, more debt would be piling up on your doorway.

Price Appraisals

Banks don’t always have in-house professionals capable of appraising the fair market value of your property. Most of them contract appraisers to do this, and if they are dealing with a very busy appraisal company then that means more waiting on your part. In other cases, a BPO or broker price opinion is used instead. This, however, can also consume a lot of time.

Mortgage Insurance Company

Getting approval from the bank is hard enough as it is, but that’s just the beginning. The second hurdle in getting Wellington short sales approved will be to get a nod from your property’s mortgage insurance company instead. Paperwork that you get from the bank will have to be submitted to insurance companies. If you are lucky, you could have those papers reviewed and approved in several weeks. The average, however, would be around thirty to forty-five days.


Last but not the least, there’s the bank to consider. Banks play a very integral role in the short sale process and if they don’t give their green light to the deal then nothing would happen. Unfortunately, even if they do want the short sale to push through as quickly as possible as well, it still doesn’t end up that way.

If you’ve followed recent foreclosure reports, you may have noticed that a lot of banks are under fire for not showing up in mediation sessions with all the required paperwork. Well, it’s the same with the short sale process.

As you can see, even if you have a really good realtor working for you there are just some things in the Wellington short sales process that is entirely out of his or her hands.


How to Confirm What a Wellington Short Sale Agent Says about Your Home

If your Wellington short sale agent has told you that the value of your property makes a short sale imperative, one of your first reactions could be shock or denial. Many homeowners are resistant about the idea of short selling their home as it could mean a tediously long process of negotiation with their lender as well as the risk of selling at a loss. Nevertheless, there comes a point in time when you need to learn how to let go of a home that’s steadily draining your bank account – and shows no signs of stopping from doing so.

If you want to confirm what you have learned so far from your short sale agent, you should consider asking the following people about it.


Again, you can ask either your personal accountant or anyone you know who’s in the accounting profession. Accountants take into consideration your financial standing.  They can help you understand just how long you can probably last before you start having trouble paying the bills, and it’s all because of your decision to stick with a property that is no longer financially practical to hold on to. Of course, you are going to need a place to live so you will need to figure that out to.

Financial Manager or Adviser

If you have someone managing your finances, you can definitely ask him or her about whether it’s a good time to short sell your home. It’s possible that your financial manager may have long thought of the same thing but refrained from broaching the topic out of concern for your personal feelings about it.

People you know who had previous success with short sales

Last but not the least you can confirm what your Wellington short sale agent is telling you by asking advice from family members, friends, and neighbors who had previous experience with short sales. They may even have some particularly helpful insights to share about the process and the kind of advice that may make it easier for you to adjust to the idea of short selling your home.

Not Paying Your HOA Fees Is The #1 Killer of Short Sales and Deed In Lieu

Not paying your HOA Fees is the #1 Killer of Short Sales and Deed in Lieus. 

Many homeowners who are behind in their mortgage payments are also behind in their HOA fees. When we take on a short sale listing it is very important for the seller to understand the ramifications of NOT paying HOA fees. 

In the state of Florida the HOA can foreclose on you, they can lock you out of the pool and clubhouse, they can evict you after the foreclose on you and rent your condo or property out, they can deny you access through the gate. 

And the HOA can do this very fast. Many people here are being told by their agents, by their attorneys and by their friends and family members that their HOA can not foreclose because the first bank, the main lien holder, is in first position and if your bank has not foreclosed the HOA can’t. Well, that is NOT TRUE. 

The HOA can foreclose on you subject to the first lien holder. They don’t need your bank to foreclose on you first or at all. 

If you are planning on doing a short sale then you should do all you can to keep up with your HOA payments. If you are far behind and the HOA has their legal council contacting you- make some arrangements to pay towards the part you are behind. 

If your HOA fees get too high, your lender is not going to approve those to be paid out of the net loss they are getting at closing. 

If you want to do a deed in lieu you have to be current with your HOA fees or you have to negotiate with your lender to pay a portion of those fees for you because you must give clean title in a deed in lieu. 

Attorneys tell us that for deed in lieu- the number one killer is the homeowner being behind in their HOA payments. 

Most every attorney we know that understands the short sale process advises their clients that even if they are not making their mortgage payments they should keep current with their HOA payments. 

We are not attorneys and we are not giving you legal advice. Consult an attorney if you are behind in your HOA payments.

If you or someone you know is behind in their payments consider a Florida short sale.Contact Nestor or Katerina Gasset at 561-753-0135 today for your private confidential interview to go over your short sale options.