Weston, Florida Homes Sold on December 2010
January 11th, 2011 categories: Country Isles, Emerald Estates, North Lakes, San Sebastian, Savanna, Sunrise, The Falls, The Lakes, The Landings, The Meadows, The Ridges, The Springs, Weston Hills Country Club, Windmill Ranch Estates
Detailed list of Homes Sold in Weston on December 2010
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Who is the Seller? And Why it is so Important to know!
March 9th, 2009 categories: Tips For Buyers, Tips for Sellers
The answers might sound obvious but that little??? detail is one of the main elements of a contract. You have no idea how many times owners get stubborn with this concept. Incredible???
In a Regular Sale:
The owner(s) of Record! It is critical to have all parties sign the Listing Agreement and the Sales Contract to make sure we will not have surprises at the last minute. If the property is under a Corporation or a Trust it is important to ask for the paperwork showing who has the authority to sign on behalf of the owner. If it is signed by someone with a Power of Attorney it’s safe to ask for a copy of it. Sometimes we have a hard time obtaining the information from owners or listings agents…it’s incredible that some people do not understand how important this is!!!
In a Short Sale:
The owner(s) of Record! BUT, Technically since Short Sale Contracts include a contingency on the Lender(s) approving it, until the Bank(s) signs, there is “nothing”. Any other Lien Holders, second mortgages, construction liens, homeowners or condo associations…become “ghosts” that can ruin a transaction if they are not addressed from the beginning.
In a REO:
The owner(s) of Record! REO goes for Real Estate Owned/Bank Owned Real Estate Property. Once a property is foreclosed the Bank takes possession, even thou it is not reflected immediately in the Tax Records and in that case the seller will show as Owner of Record and a bank’s officer will sign the contract.
Each one of this transactions has a different way to handle it, a time frame for responses/closing and challenges the buyer and seller might be facing.
After everything is said and done, if anyone with an interest on the property doesn’t agree with the sale, there will be no resource for the Buyer if there is not a fully executed contract.
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