As the Dade, Broward and Palm Beach County, real estate market shows signs of a recovery each day many more Fort Lauderdale area homeowners and condominium owners are closer to having equity in their South Florida properties. However at the same time, one of the first overreactions to this recovery maybe from the banks and their investors, who once again may believe they are viewing a forever rising asset in South Florida. If you own a Luxury South Florida Home, a Condominium or any South Florida property where a situation exists that you need to speak of your bank about a modification, a short sale, or a deed in lieu of foreclosure, now is the time to have that conversation!
If you need help deciding which approach is best for you we are here to help with an obligation free discussion?
Many banks (and their investors) are looking at the buzz about the South Florida Real Estate market and are becoming harder to deal with. The value of completing a short sale to your future ability to receive credit and go on with life is incredible. We are seeing buyers ready to come back into the Fort Lauderdale Real Estate market and qualify for mortgages in less than two years. Walking away from a property without taking advantage of the options available to you will not serve you well in the future. Consider this an appeal, in our opinion your bank in not your friend, they want their investors money, that is their job. If you or someone you know is severely upside down in a property in Fort Lauderdale or throughout South Florida, or faces a financial hardship, do now walk away, it is the equivalent of giving your bank control of your financial future.
People decide to walk away from their Florida homes without attempting a short sale for many reasons but most are based on not having complete information. “I have too many other assets”, is often a concern, the banks can find your assets and sincerely they don’t want them, they want the property and a forth right negotiation can result in a successful short sale, a deed in lieu, and simply a better result than walking away. Remember you can always say “no” to any deal they offer. The bank wants the property back for their investor and doesn’t want to fight through the judicial system of Florida (this costs them money as well).
Even the most Luxury properties of South Florida can be eligible for a short sale, if we package it correctly for the investor. Eric Miller and Associates, Realtor in Fort Lauderdale, have completed successful short sales for people who for many reasons thought they were impossible. From a luxury townhome in the Victoria Park neighborhood of Fort Lauderdale, to a beautiful estate home in the Oaks of Boca Raton, the team at Eric Miller and Associates is always ready to have a conversation about strategic alternatives. From Miami, to Stewart, throughout Broward, Dade and Palm Beach property owners have found their solutions with Eric Miller and Associates.