Short Sale Completed in Aventura by Ft Lauderdale Realtors

Posted by Eric Miller on Tuesday, May 1st, 2012 at 8:06am.

Short Sale Success 

Ft Lauderdale Realtors, Eric Miller and Associates are proud to have completed the short sale transaction of of 3375 N. Country Club Drive Unit #1209 of the Bonavista Condominium in Aventura Florida. The tranaction was closed with the help of Assure America Title of Deerfield Beach Florida. The seller was pleased to reach closing day which took over 14 months from the original listing date, and the buyer was happy to close on a deal he waited a long time to see happen. The on going negotiation involved the condominium association and the mortgage holder. This sucessful closing involved the condo association receiving fees of over $20,000 which were past due to them. The Fort Lauderdale Real Estate team whoi coordinated the transaction sees the closing as a win for all parites concerned. The time frame which clearly gives understanding to buyers and sellers making comments that, "Short Sales take too long", was a direct result of not having three parties agree on the same terms within the same time frame. By eliminating one of the two the parties the entire process would have been much quicker to complete.

Stay Current with HOA Fees

The Short Sale Experts at Eric Miller and Associates often warn sellers that if you are getting involved in a short sale it is important to stay current with your condominium association. While taking many Fort Lauderdale Short Sales to the clsoing table the #1 obstical is sometimes the condominium assocaition or the HOA, and theri advisors. There are basically two reason a homeowner should try to stay current, if possible. The first is that the condominium association can start a foreclosuer action as well and take the property. The association may have an easier time in this process than the bank so staying current is certainly in the sellers best interest. The second and maybe even more important issue is that the association, with its many members, and advisors becomes part of the team you must negotiate with. If the short sale mentioned above it is our opinion that the entire process did not cause the condos association to recieve an addtionial money as a percetnage of what they were owed. Simply receiving the same percentage of a larger number was a result of a short sale where too many parties could not come to the tabel at the same time.

In the end this entire deal is viewed as a win for all parties and at the Fort Lauderdale Short Sale Division of Eric Miller and Associates this is always how we judge out short sale success.  

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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