7270 Mauna Loa in Lake Sarasota avoids foreclosure: 2nd lien holder signs off for pennies; appraiser finds value & inspector gives thumb’s up to roof. Selling Sarasota real estate these days definitely requires many stars to align…perfectly. With this sale, we struggled to: 1. Short 2nd lien holder – nobody wants to accept less than [...]
Some real estate agents, struggling to earn a living, have turned to performing “broker price opinions” as a CHEAP alternative to the appropriately trained real estate property appraisers – to the homeowner’s detriment. Banks pay real estate agent $50-$80 bucks for full interior “bpo.” Banks pay real estate property appraiser ~$250.00 to conduct full interior [...]
Sarasota County wants to help house hunters grab keys to their new homes, offering eligible buyers up to $20,000 in down payment & closing cost assistance. The Sarasota Down Payment Assistance Program provides a *Shared Appreciation Mortgage Loan (SAM) to low-income first-time home buyers by paying a portion of their down payment and closing costs [...]
Sarasota homes for short sale turn into foreclosures for TWO tragic and mostly unnecessary reasons! If you or someone you know is facing foreclosure in a state with RECOURSE, please pay attention. In Florida (one of the 24 states with recourse), walking away from a property will NOT remove the problem. In fact, property owners [...]
Before buying distressed properties, house hunters MUST understand potential risks lurking undisclosed and potentially unknown to banks unloading foreclosed houses. Throughout the country, foreclosures (aka “bank-owned” houses) continue (and will continue) to flood local real estate markets. Bargain hunters, eager to land a move-in ready home for a steal, quickly discover a potentially scary experience, [...]