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What Is A Short Sale?
by Mark Horan?
Welcome > For Sellers >
What is a Short Sale? by Mark Horan? ...
One of the buzz phrases of Real Estate currently is the phrase "Short Sales". What is it and how is it done may be your first question. A Short Sale is a process where a lender allows the sale of a home for less than the amount of the note, or the mortgage and in some cases forgives the homeowner the deficient amount. This process is to avoid an impending foreclosure. The homeowner must show a hardship to the lender of why the note cannot be repaid. The offer for purchase needs to be an amount that the lender feels that it is in their best interest to accept as opposed to the amount they will eventually receive in a foreclosure. This process isn't a right and it isn't guaranteed. Currently the success rate is only 20% to 30%. Every condition is different. If you are behind on your mortgage, you want to sell your home but your afraid that you cannot pay the Real Estate Professional's commission, the commission is included in the Short Sale and are paid by the lender. The homeowner does not get any revenue or pays any fees. Find a Realtor that deals with Short Sales regularly, use an experienced Realtor so that your success is almost guaranteed. Although there are no guarantees. The Resident Team have experience with Short Sales. Call The Resident Team, we will console you so you understand all of your options. 407-301-0312. Or email us at markhoran@NUMBER1EXPERT.com. We will get back to you within 24 hours. If you have missed mortgage payments, don't wait, the clock is ticking.
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Titles >Holding Title to A Condo With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.
A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.
A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.
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| Q |
What is the world's most capacious building?
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| A |
The Boeing Company's main aircraft assembly plant in Everett, Washington, has been expanded to a capacity of 13.4 million cubic meters, or 473 million cubic feet. |
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Mark Horan
Resident Team Realty LLC
1813 West Virginia Dr.
Kissimmee, FL. 34744
Phone: 407-301-0312
Fax: 407-426-1101
Email: markhoran@NUMBER1EXPERT.com
The Resident Team welcomes anyone looking to buy or sell their home. We use all the latest technology to search, market and get the results that you desire. You will be kept up to date all along the way. We are a partner you can trust. Don't just listen to us, read the testimonials of our past clients on our web-site, they are our true voice.
Buying or selling a home can be the most stressful activity that a person can experience. It doesn't have to be that way! The Resident Team will strive to make it exciting and enjoyable!
Contact The Resident Team today for your Professional Real Estate experience. We specialize in Bank Owned Foreclosures.   
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