Miami Short Sales done by MiamiAllCashHomeBuyers.com
No need to scour the internet for the right team to short sale your house in Miami because now you’ve found it! All we do is short sale houses quickly, privately, and without hassle. You want an expert that can deliver results and is confident in short selling houses. Many agents can say they are experts but none will actually purchase your house and get the process moving faster than we can! It doesn’t matter if your foreclosure just started or you have an upcoming sale date at the County auction, we can help!
Shot sale price negotiations and the overall short sale process can be daunting to say the least. With MiamiAllCashHomeBuyers.com’s expert team of negotiators, you can rest assured the short sale process will be easy. Can you negotiate a short sale? Sure, you can also perform brain surgery. But do you really want to?
You can trust the #1 Miami Short Sale Expert in the tri-county area. We’ve expanded! We now short sale houses in Palm Beach & Broward Counties too!
Below you can find out more about what a short sale is and how we can help. There’s even a frequently asked questions section at the bottom that we recommend you read. An educated client is the best client!
What is a Short Sale?
If you haven’t made mortgage payments, didn’t qualify for a loan modification, did a bankruptcy, or have a final judgement, it might seem foreclosure is the only option. In fact, you may already have abandoned your house. Did you know you’re still liable if someone get hurts in there?
A short sale may be the answer for you. A short sale happens when you sell your house for less than what is owed to the bank in order to AVOID Foreclosure. We start the process by collecting the information that bank requires to start a short sale. You’ll receive a success check list on the items we need from you. Our short sale expert negotiators check for their accuracy of all forms and items for you. We move forward and submit the short sale package to the bank.
A short sale allows you to repay your loan in full!
The bank accepts the short sale package and orders a BPO (broker’s price opinion) of your house. Once that is done, the bank and our team starts negotiating. Like all real estate transactions, there will be negotiations between the seller and buyer to determine the final price of the house. Once we come to an agreement, the bank sends you the short sale approval! The homeowner will then have 30-45 days to move from the property.
You can get money from the bank for a short sale!
If you are approved for the HAFA short sale, you can expect to receive between $3,000 $10,000 at closing! MiamiAllCashHomeBuyers.com then buys the property and you are no longer responsible for the mortgage!
How do I know Short Sale is right for me?
Pros and cons
The advantages of a short sale:
- Your loan will be considered paid in full.
- You’ll avoid foreclosure.
- A short sale has a smaller impact on your credit.
- After a short sale, you may be able to buy another home sooner than you would with a foreclosure.
- You take full responsibility for the sale of your home, which can be time-consuming.
- If you find a buyer quickly, you may have to move sooner than expected.
- All proceeds from the short sale go to the lender.
How can a short sale help me?
A short sale will help you because it will help you AVOID YOUR FORECLOSURE! You will not be responsible for the mortgage debt when the short sale is complete. It will show on your credit statement as an account PAID IN FULL!
Credit history is a big reason for some people to do a short sale. So let’s say things turn around for you 2 years down the road and you want to buy a nice home for your family. Because you did a short sale, you are now eligible for financing within 2 years of a short sale where as in a foreclosure the minimum wait time is 7 years! There are some new loans that will allow you to buy a new house within 1 day of a short sale!
You may be wondering “Where will I move?” or “How do I move in somewhere new with no money?” We try to help every homeowner by submitting your hardship and paperwork to the HAFA program. HAFA is a government-subsidized “Home Affordable Foreclosure Alternatives” program for distressed homeowners to sell their homes (through short sale) to avoid foreclosure, even if the sales price is not enough to pay off their existing mortgage loans. You may receive relocation assistance from HAFA; anywhere from $3000 to $10,000! Not all banks participate but we do everything we can to get you money.
We fight for you during a short sale. So much so that we get the banks to waive their rights to a deficiency judgment. So far ALL of our clients have received a waiver of deficiency. What is a deficiency? A deficiency is the difference between the approved short sale selling price and the total mortgage debt amount due. For example, John owes $200,000 and his short sale approval came in at $150,000. The difference between the $200,000 owed and the $150,000 approval price is $50,000. We get the bank waive their right to collect on the $50,000 and you walk away, not owing anything.
Why do I Need a Miami Short Sales Expert?
We have been helping homeowners overcome FORECLOSURES since 2005. Out of the over 250 families we have helped, 100% have owed NOTHING after a short sale! We buy houses for cash that are in any condition and any situation. Let Us Help! We can help you with any real estate related problem. We are truly MIAMI’S #1 SHORT SALE SPECIALISTS!
Having an experienced Miami short sale specialist is a key factor when facing a foreclosure. Short sale isn’t always the answer, but it counts to have someone knowledgeable and experienced if that is the option your are taking.
One of the reasons it is important to have a good short sale specialist work on your short sale is because TIME IS OF THE ESSENCE in a foreclosure action. On one hand, you have real estate agents that work based off of commission. In other words, the higher the offer price, the higher the commission they think they will get. This type of realtor wastes precious days, weeks, and even months waiting for a juicy offer. Unfortunately, that strategy backfires because the bank will likely negotiate to a higher price than what was initially offered. This wastes valuable time especially when facing a foreclosure sale date! We do not work for commissions! We work with the homeowner to buy your house cash as fast as possible so there is no time wasted. Inexperienced realtor will just waste your time waiting for the perfect offer to come in. As soon as you give the OK, we start the simple process!
Another reason an experienced short sale specialist is important is understanding the process. An experienced Miami short sale specialist, such as ourselves, understand the process of foreclosure fully. We have been doing this since 2008 and have helped over 300 families! We know when and what needs to be done and where. Having an inexperienced non-foreclosure professional missing key steps in your short sale can cost you big in the future. A good example is missing the deficiency waiver and the bank coming back to you a few years down the road and garnishing your wages or taking your rental deposit (it happens all the time)!
You’ll be aware of everything in the process, A to Z coverage. We carefully review all your documentation for accuracy. We know the laws that are being passed (or not) on foreclosure all the way from the local Miami level all the way to Washington D.C. (national level). We present every avenue to the homeowner in order to help them make the decision that is right for them.
If you’re choosing to do a short sale in Miami, there is nowhere else to look. You are reading the about the truly #1 Miami Short Sale Specialist Team in South Florida. There is no situation we cannot work with because we are confident that we can complete your short sale quickly and on a level of professionalism not yet witnessed in Miami. We may even get you up to $10,000 from the HAFA (Home Affordable Foreclosure Alternatives) program!
Frequently Asked Questions about Short Sales
Can you explain what a short sale is in a different way?
A “Short Sale” or “negotiated settlement” or “short pay” occurs when a Lender agrees to accept less than the amount owed to payoff a loan as an alternative to foreclosure. If the property is worth less than the amount owed on the loan, then even if the Lender forecloses and takes back the property, they know they are going to take a loss. We can often convince a Lender that they will “do better” if they take less than what is owed now rather than taking the property back by foreclosure and trying to sell it later.
How long will a short sale take?
The Short Sale negotiation process takes 3 to 6 months to get approved. Many Lenders have several layers of bureaucracy, insurers, and investors that we will have to maneuver through in order to get a Short Sale approved. So it is important to be patient during this long process.
But my house is going to foreclosure, will I have enough time?
It is critical you call us as time is of the essence in a foreclosure. Just starting a Short Sale will not automatically stop a foreclosure. However, many times we can convince a Lender to stop the foreclosure to let us attempt to negotiate the Short Sale. Other times, we can use our lawyers to postpone your foreclosure at no cost to you. So, while there are no guarantees, it does not hurt to try.
Can I stay in the house? Can you lease it back to me/ to a relative? Can I buy back my short sale?
The purpose of a Short Sale is to get the property sold. Most times, the bank will ask you to sign a disclosure under the penalty of perjury that states you cannot live in the house after a short sale has happened, and that the sale is an “arm’s length” transaction. If this agreement is broken by you, the foreclosure process and mortgage debt will be reinstated and you may face criminal charges. This is not a program that can stop a foreclosure and allow you to keep the house indefinitely. You should make plans to move as a short sale is being processed.
Will I get any money from the sale?
In many cases, the homeowner received money for relocation from the HAFA program. You must qualify for this assistance and it is not guaranteed.
How can I help?
The Lender will require a review of a financial package that usually includes: two months’ bank statements, two months’ pay stubs, two years’ IRS tax returns and other information. The leading cause of delay and even denial of our offer to the Lender is caused by the Seller failing to call us in a timely manner.
To help us succeed, please find as much of this information as you can right now – this will help us work faster and increase our success. Call us at 754-800-4747.