German Cerrato, Realtor

12/13/2021

A pocket listing also referred to as an “off-market listing,” is a property that isn't listed on the MLS, but is instead marketed to potential buyers by word-of-mouth or through private listing services that limits who can see information about the property.
Is a pocket listing illegal? No, pocket listings aren't illegal. However, the National Association of Realtors (NAR) has banned them for its members. Listings must be posted to the MLS within one day of being marketed to the public.

12/13/2021

* There is no guarantee that foreclosure will be postponed while attempting to complete the short sale.

12/13/2021

* The court order of foreclosure will specify how the foreclosure must take place, and the foreclosure must take place on those terms. Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is the responsibility of the lender or their representative to place such advertisement, publication, or notice. Open every letter you received and stay updated in your case thru your Lawyer, Bank, or case manager helping you. Do not ignore the legal notice, though, chances are it may be an offer from the bank or court order to your solution.

11/29/2021

Some Facts of Short Sales: * Extensive paperwork is required in a short sale
* In a short sale the buyer cannot be related to the seller, that is "Arm's in length"
* In short sale buyers without lender financing or not beginning mortgage process, it will not meet the required date for closing. "Seller's lenders want to close quickly and the buyers will likely not be ready with financing by closing"
* Short sale may take a longer time to close compared to a non-short sale transaction
* In the short sale and REO transactions it can be difficult to get closing costs covered or cashback for the buyer

11/15/2021

11/02/2021

Can the Bank evict the homeowner while Foreclosure procedures?
NO! They can't legally.

10/31/2021

HOA (Home owner association)
* When home is foreclosed in Florida, homeowners’ association (HOAs) liens can be passed on to the home’s new owner. If you buy a condominium or single family home at auction that is included in a mandatory HOA and has been foreclosed on, check to make sure the HOA dues are current.

* In most cases, the HOA takes a loss in their fees and end up collecting an additional deposit from new buyers in order to safeguard the possibility of another foreclosure and to make up for lost income.