Thinking about Selling Your Jacksonville Florida Area Home?
As a Jacksonville area real estate agent, I have years of experience in real estate and stay up-to-date with the latest, technology and marketing tools (on and offline) in order to expose your home to the widest possible range of qualified buyers. Accurately pricing your home and making it standout in today's market is extremely important.
I will provide you with a comparative market analysis, otherwise known as a CMA. Once a competitive price has been established, I will move forward with a comprehensive on and offline marketing strategy to ensure that your home gets maximum exposure. My goal is to get your home SOLD as quickly as possible and for the best price.
If you are underwater or behind on your mortgage and need to sell your home, I can help. Most home owners in distress have more questions than answers about their circumstances and what to do. I have those answers and will compassionately help you every step of the way.
The Closing is the final step of the sales process and at the closing table is where the ownership of your property will transfer from you the seller to the new buyer.
Other closing costs or credits to the buyer -You might have agreed to pay various standard costs associated with closing the deal, such as Deed stamps, Owner's title insurance policy, Title search, Closing attorney/settlement fee, Real estate brokerage fee, Survey, Satisfaction of mortgage and recording fee, SELLER's courier fees, Wood-destroying organism report for VA sales only), All mortgage payments, condominium or homeowners association fees and assessments, Community Development District and government special assessments due and payable shall be made current at SELLER's expense at the time of closing. (Closing Expenses to expect will be outlined on your HUD 1 statement at closing).
What to Bring to Closing
All sellers must bring:
- Government issued photo ID
- Deed to your property
- Paid receipts for utilities and proof of association fees are paid if applicable
- All house keys
- Garage door openers
- Codes for keyless entry and or alarm system
- Certified check payable to the title company if the above costs are not being deducted from the sale of the home.
Find Your Home's Market Value:
Receive a FREE comparative market analysis of your home's market value emailed to you with no commitments.
What is a Jacksonville Florida Short Sale?
A short sale is the sale of Jacksonville, FL Real estate in which the proceeds from selling your property fall short of the balance of debts due and secured by liens against your property, and you as the property owner cannot afford to repay the full amount of the loan due to a hardship. Under the Mortgage Forgiveness & Debt Relief Act the lien holders may agree to release their lien on your principle residence. The lien holders agree to release their lien on the Jacksonville, FL real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency. Under the Mortgage Forgiveness & Debt Relief Act the lien holders may agree to release their lien on your principle residence.
Jacksonville, FL Short sale agreements do not necessarily release borrowers from their obligations to repay on the loans, unless specifically agreed to between the parties. Once the short sale is approved, no deficiencies are permitted after the short sale.
A Jacksonville, FL Short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. There have been 2.2 million short sales in the United States during this Sub-prime mortgage crisis.
In some ways, buying a Jacksonville, FL short-sale property is just like a traditional home purchase. However, there are a couple of ways in which the purchase agreement you and your agent draw up are different. The contract will specify that the terms are subject to the mortgage lender's approval. In a normal transaction, the only party who would need to approve the sale is the seller. Some experts say that short sales are priced below market values, creating the opportunity for buyers to get a great deal or for first-time home buyers to get into a home when they otherwise might not be able to afford one.
"FYI - You could wait up to a year to close on a short sale, so be prepared to wait". Also, as of December 31st. 2013 there is no more tax forgiveness on the gain to the seller /shortfall to the lender from short selling a home.
What is a Jacksonville Florida Foreclosure?
A Jacksonville Florida foreclosure is the process by which a homeowner's rights to a property are forfeited because of failure to pay the mortgage. If the homeowner cannot pay off the outstanding debt or sell it by short sale, the property then goes to a foreclosure auction. If the property does not sell at auction, it becomes the property of the lending institution.
If you are house hunting, you may want to consider buying a foreclosed home, also called a real estate owned (REO) property. An REO property is owned by the lender as a result of the previous owner defaulting on the loan. This is also known as a foreclosure property or a bank-owned property.
The two common ways of buying a Jacksonville, FL foreclosed home are through a Jacksonville Florida real estate agent or through a public auction. There are many factors to consider when buying a foreclosed home compared to a traditional home purchase. REO properties are an affordable housing option, but there are also more things to watch for with this type of home purchase such as:
- Property condition- Given that the bank has not maintained or had first-hand knowledge of the foreclosed home before acquisition, there may not be any record of property repairs or maintenance that would assess the true property condition. Often times in a foreclosure situation, the bank is unable to verify the condition of the property or complete and provide a Seller's Disclosure. Buyers are allowed and encouraged to complete professional home inspections on the property.
- With a typical real estate transaction, out-of-pocket expenses can occur before and after an offer to purchase a property has been submitted. These out-of-pocket expenses may include lender required documentation such as an appraisal or home inspection and bank-required minimum earnest money. Earnest money is a "good faith" deposit demonstrating the buyer's interest in the property and may be an indicator of how much money will be deposited as a down payment.
- Title issues may be discovered during the closing process and will need to be addressed and resolved, along with completion of all necessary paperwork to support the transaction. An extension of the close date may be requested by the seller if these issues cannot be resolved by the contract close date. Because of this, you as the buyer, should allow enough time after the scheduled contract close date to schedule movers, furniture deliveries, utilities, and so forth.