Once I Get An Offer On My Home, When Will I Close?

That's a great question and depending on whether you are selling as a traditional seller or as a short sale will make a big difference.

For Example:

Traditional Seller Time Frame:

Buyer and buyer's agent presents an offer to seller's agent
Seller accepts buyer's offer
Contract is considered executed
Now the time frames noted on the contract start ticking...
Typically the buyer has 5-15 days to have a licensed home inspector perform home and termite inspections.
Following the inspections the buyer's lender (if the buyer is financing the property) will order the appraisal.
If the appraisal is returned at a satisfactory value the buyer and seller will move towards the closing date, typically aware between 30-45 days from the executed contract date.

Short Sale Seller Time Frame:

Buyer and buyer's agent presents an offer to seller's agent

Seller accepts buyer's offer

Contract is considered executed

Sellers financial information along with the contract, disclosures and addenda will be sent to the seller's bank for review. 

Review can take aware from 1 month - 6 months

All things going well the seller's short sale application is approved

Following the approval the time frames on the contract for inspections, etc. start ticking

As above:

Typically the buyer has 5-15 days to have a licensed home inspector perform home and termite inspections.

Following the inspections the buyer's lender (if the buyer is financing the property) will order the appraisal.

If the appraisal is returned at a satisfactory value the buyer and seller will move towards the closing date, typically aware between 30-45 days from the short sale approval date.

Have questions about selling your home or buying a short sale? Call me 321-443-7257, send me an e-mail or check out www.TheAistropTeam.com. 

I'm Selling My Home As a Short Sale, Do I Need to Pay For Repairs?

Most contracts written in the state of Florida by the buyer's agent and presented by the listing agent to the sellers are written on an "As Is" sale and purchase contract. This means that the seller is not obligated to pay for any repairs that show up on the buyer's inspection report. Minor things that show up on the repairs such as loose toilets or missing light bulbs will not be a big issue and will be taken care of the buyer once they take possession of the home. Major issues, such as a termite infestation or leaky roof, showing on the inspection report will be items that will often lead to contract re-negotiation.

For example: I had a situation where the buyer's inspection report showed some termite infestation and damage. Following the inspection report findings, the buyer obtained two quotes that showed the cost that would be needed to treat and repair the termites and damage. The quotes showed approximately $10,000 would be needed. What we were able to do was  send the inspection report and quotes to the seller's bank for their review. They then reissued a short sale approval letter that had lowered the purchase price of the home from $75,000 to $65,000. The seller was happy as he was still able to proceed with the sale, the buyer was happy as he loved the house and had now purchased it for less and the bank was happy to be able to sell the home as a short sale instead of proceeding with a costly foreclosure.

Interested in selling you home as a short sale? Call me today 321-443-7257 or check out www.TheAistropTeam.com

Are There Many “Short Sale” Properties for Sale?

Currently in the central Florida area there are a large amount of homes for sale that are “short sales”. The amount of traditional sellers with homes currently for sale are in many cities similar to the amount of short sales. Following “short sales” and traditional sellers the bank owned properties come in with around 10% of the homes for sale. Due to the large inventory of “short sale” properties you can see why a great deal of people consider purchasing a short sale. 

As of April 2011. Statistics for single family homes for sale:

Please check out www.TheAistropTeam.com for more information regarding "short sales". 

I'm Looking For a Home with a Pool Bathroom, What's Available For Sale?

Fresh on the market this property is priced at only $148,900! This is an exquisitely maintained, fully furnished, pool home situated on over a 1/4 of an acre. Plus it boasts not only one, but two pool bathrooms (a bathroom that has access leading out onto the pool deck).

 

2921 Evan's Drive, Kissimmee 34758

3 bedrooms, 2 bathrooms 

0.28 acres

Call today to schedule a viewing! Plus, this home is not a short sale so you won't have to wait months for a bank approval! Irena: 321-443-7535.