ASK THE BROKER…..What Is 3rd Party Approval?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS


Florida Real Estate Broker 407-873-2747Hi Broker Bryant, 

Thank you for the sample short sale submission letter, I found it to be very helpful. I am currently closing on a short sale and picking up a couple more tomorrow. 

I have a couple of questions …. You stated… “Just remember, you are submitting a fully signed and accepted contract and asking the lender to remove the 3rd party approval. You are not asking them to accept the offer. The lender is not a party to the contract.” 

My questions are: 

1. What is the 3rd party approval on a short sale purchase agreement?

2. Why is the lender not a party to the contract when the sellers need the banks approval to pass clear title? 

Hi there, 

A purchase contract is between the buyer and the owner of the property. Unless the property has already been foreclosed on then the lender is not the owner of the property. They have a lien on the property. No different than if there were an equity line or tax lien on the property. The mortgage is a lien that has to be cleared off at time of closing. 

BUT since there will not be enough money left over at closing, to pay the lien in full, the owner of the property is asking the lien holder (lender) to accept less than what is owed (short) and remove the lien so they can provide the buyer clear title. This is a contingency (3rd party) in the contract. Simply put, the lender (lien holder) is a 3rd party who has to agree to accept less money, remove the lien and allow the transaction to close.

If you have a question for the Broker CLICK HERE.






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*****I am NOT an attorney and this is not legal advice. I am also a Florida Broker and I’m basing my opinion on Florida laws. Please check with your own State’s laws and get legal advice from an attorney in your state. This response is my opinion only.*****


Free Teleconference on "The Art Of Preparing The Persuasive CMA"

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Sell with Soul! Jennifer AllanOK folks. This Saturday is a HUGE day for me. I am participating in my very first teleconference webinar thingie ma giggy!!! My friend Jennifer Allan the author of Sell with Soul sent me an email a few weeks ago and invited me to be a participant. She is soooooooo good looking (just like me) so how could I possibly say no? I couldn’t.

I have to say I’m a little nervous. I have 15 to 20 minutes to talk about preparing a persuasive CMA. Heck….it doesn’t even take me that long to prepare one!!! BUT……I think I have managed to come up with some ideas that may help you in persuading your potential seller to not only list with you but to price their property correctly. Anyway………here are the details provided by Jennifer.

Join us on Saturday, February 7th at 8:30 am (Pacific) / 11:30 am (Eastern) for a teleconference panel discussion with me, Broker Bryant Tutas, Borino & Katerina Gasset – four very different personalities, four very different approaches to the Art of the CMA. Each of will have 15-20 minutes to spill our beans, and then take questions from the audience. We expect the conference will last 90 minutes or so.

The cost? It’s FREEEEEEEEEEEEEE! Actually, we’ll be giving away some cool prizes, so you might actually come away from the show a little bit richer! And certainly wiser…

How does it work? You have to register, and once you do, you’ll get the details on how to tune-in to the conference.  You can listen online or over the phone line.

Hope to see you there!!!

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Holiday Homes with Pool Near Disney World

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS


Beautiful 5 Bedroom, 3 bath home with screen enclosed, in ground and heated pool. Ceramic tile floors in all wet areas. Kitchen with breakfast bar opens to family room.  Separate formal living room. Privacy fenced back yard. The home is being offered fully furnished with short term rental licensing and bookings in place. Turn key holiday home located 10 minutes to the Disney area less than 1/4 mile south of I-4 on HWY 27 in Davenport. Sunset Ridge is a quaint gated community right down the street from restaurants and shops. Don’t miss  this one! Call today to arrange your private tour.



Beautiful vacation home in Southern Dunes Country Club. World class golf course, tennis courts, club house all in a gated community about 25 minutes to the Disney Area. Furnished, licensed and ready for short term rentals. The homes features a very open floor plan with eat in kitchen and inside laundry room. The pool are has a covered lanai and the pool is screened and heated with a privacy wall in the rear and down one side. Perfect for a Florida Holiday home or primary residence. Don’t miss this one. This is a ‘Short Sale”. Listing price may not be sufficient to cover all encumbrances, closing costs, or other seller charges and sale of Property at full listing price may be conditioned upon approval of third parties






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Defining Your Unique Value Proposition

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Polly want a cracker?Hi folks. OK so Wendy and me are now “Official Short Sale Instructors.” Even though we are instructing we are also learning. We are learning how to work together and how to market our new business. With any new business venture one of the first things you want to define is your “Unique Value Proposition”.

Your Unique Value Proposition is:

Clearly identifying how your products and services are different from your competition.

Basically, you have to know what sets you apart from your competition. Whether you are selling houses, Webinars or widgets, if you don’t have something unique to sell, you will struggle. You will get lost in the mix of ordinary.

And…’s NOT necessarily the product that has to be unique. It could be the marketing (Think Geico). It could be the delivery (NetFlix). Or, of course, it could very well the product (Swiss Army Knife) .

Whatever business you are in you MUST be able to answer the question……

“Why should your ideal customer purchase from you rather than from anybody else?”

On our quest to answer this question, Wendy and I keep getting back to this answer….

  • We are both full-time, working Brokers who list and sell short sales, all day, every day.

So what is YOUR Unique Value Proposition? Do you know?




“I’ve completed lots of training but feel yours was most valuable in your method of approach and delivery. The dialogue made it feel like I was in an actual brick and mortar classroom with real live scenario.” Wendy Weber, Realtor, Scottsdale, AZ

“Your webinar was very impressive and informative. I feel that it didn’t come across as a lecture, but good and clear conversation. The short sale is a very complex process, but you have made it much clearer and there was a lot of useful information.” Richard Barton Real Estate Investor

“I am really glad you guys are doing this, I was looking for a class taught by practicing real estate brokers.“  Jana Hristova

“I enjoyed the SS session 1 yesterday and look forward to the next 4. After Wendy’s comment about the lame duck DOD HAP program yesterday I decided to blast my Congressman and 2 Senators an email blasting DODs inaction as a Citizen, Veteran and Realtor serving military clients.” Don Duft, REALTOR®

“I just wanted to thank you again and let you know that you and Wendy did a fabulous job!  I’m really looking forward to the next one.” Debe Maxwell, Realtor®/Broker

Copyright © 2009 | All Rights Reserved

The beginning of the end was quite evident….if we listened.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

The beginning of the end.

Hi folks. Sometimes I find it hard to believe that we are 3 years into this drastic market decline. I was reading through some of my older articles this morning and found this one written in late 2006.

Real Estate is about people, not money! Part 2

Today I met with another pre-foreclosure Seller. I sure am getting a lot of these lately. Anyway, I spoke with this gentleman yesterday and could tell he was really stressed out. Life had dealt him a bad hand this year, health wise, and he has found himself disabled and unable to make mortgage payments. In fact, he hasn’t made any for 5 months. His wife has just started back to work, so they are now in a position to start making payments, again. So that’s a good thing.

I’m writing this post to bring to your attention “predatory lenders” and how they prey on good people’s misfortunes. First, these folks have no other debt except their house, which has a mortgage balance of approximately $170,000, including missed payments and a prepayment penalty. Fortunately, the Lender has not started foreclosure proceedings and have not tacked on Attorney fees……yet.

When I walked in today, the first thing the Seller started telling me, was how he was working with a different Lender, to see about refinancing his house, to “help” him out and how they should have an answer for him in 3 weeks. With this is mind, he only wanted me to list the house for 3 weeks, if I could sell it before the loan came through then good, if not he would take the loan being offered. Well needless to say this did not appeal to me and my immediate thought was to just give this guy some quick info, politely bail out and leave. But I couldn’t do it. He was very stressed so I decided to get some more info from him and see if I could give him some advice.

Well to start, his house is only worth $245,000 to $250,000 max. It turns out, the lender that is willing to “help”, has told him that he can do a loan for 65% LTV based on an appraisal of $300,000! And will only charge him $10,000 in closing costs. Now if you do the math, it means the Seller will have a new loan balance of $195,000 and after paying closing costs MAY get a check for around $13,000. His current payment of $1,400, that he can’t afford, will go up to $1,500 (this is what the lender told him). Now what is wrong with this picture? Well first, how can a house appraise at $300,000 that is only worth $250,000 max? FRAUD. How can they quote him a payment of $1,500 on a high interest loan of $195,000? LIAR. How long will this Seller be able to make payments before he is in foreclosure again? SAD.

Now being the good little Realtor that I am, I pointed this stuff out to the Seller. I explained to him that they are ripping him off and if you take them up on their “help” you will be digging your hole deeper. I also explained to him that his current lender does not want to take the house back. I suggested, that if they are now in a position to start making payments, then they need to contact the current lender and negotiate a loan modification. Since he has no other debt and has a legitimate reason for his financial difficulties, there is a better than good chance, that they can work it out and keep their house. I could actually see the glimmer of hope come into their eyes. They have been buried in stress and have been getting letters from “sharks” everyday wanting to “help”. They did not know they had other options. They don’t want to move. They love their house and just want to get beyond the financial hardship.

So folks, it was a great listing appointment! I did give them some info on selling but really do not think they need or want to sell. I told them if things don’t work out with the bank, then give me a call. I will be there for them.

They both walked me out to my car. Mrs. Seller gave me a hug and asked me for a stack of business cards. And Mr. Seller was really excited and pumped, about having another option, instead of selling or refinancing.

Folks, I’ve said it before and I will say it again, “Real Estate it about people, not money” As Realtors and Lenders, we can make a difference in people’s lives. Make it your goal to listen and to give sound advise. I left this listing presentation with my sign in my car and a smile on my face. To me, that’s priceless!

Available Short Sale Training:

Bryant Tutas
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker

***The content of this blog is solely my opinion***


Short Sales for Foreign Owners. Do they make sense?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Join Tutas Towne Realty, Inc

Hi folks. I received a very interesting email today. Here it is:


I’m English, live in China, and have NO USA contact except I own an investment home in Davenport. Loan is 220k, worth maybe mid-100’s. Do I walk (non-recourse…remember, I’m in China!) or short sell? Appreciate your advice..

Interesting question to say the least. And honestly I’m not sure how to respond. His question brought up a whole bunch of new questions in my head.

  •  What recourse would the lenders have on a foreign investor?
  •  How would it affect his credit? 
  •  Is there any advantage at all for a Foreign owner to go through the Short Sale process.

My market area is about 20 minutes to Disney and this issue is going to be coming up quite frequently.

Richard Zaretsky wrote a post last year about Short Sales and FIRPTA that you may find interesting as well.

Short Sales are not always straight forward transactions. It’s extremely important that we don’t use cookie cutter responses like “A short sale is far better than being foreclosed on”. Is it?

I need answers. Do you have any?

Available Short Sale Agent Training:

Bryant Tutas
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker

Are you a Florida REALTOR(R) looking for a change? Check it out.


Copyright © 2009 | All Rights Reserved


Only Deadbeats do Short Sales!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

http://centralfloridashortsales.comHi folks. Short Sales. Why do I spend so much of my time messing with these things? Isn’t it true most people are just doing them to avoid honoring their promissory note? They borrowed the money they should pay the mortgage. Deadbeats!

I closed on a Short Sale a few months ago. The Seller had owned the house for 27 years. It was the retirement home for him and his wife of many years. After 30 years of hard work they were finally able to retire and move to Florida, pay cash for a home and enjoy their twilight years together.

All went according to plan for 20+ years. Then one day Mrs. Seller was diagnosed with cancer. After several years of surgeries and treatments she finally had to be sent to a nursing home. Her husband, now almost 80, could no longer take care of her.

Mr. Seller was forced, by high medical bills, to place a mortgage on their home for $175,000. Less than 2 years later the money was gone and tragedy struck again……Mrs. Seller died.

Seeing his wife of 55 years suffer was just too much to handle. Mr. Seller, distraught, had a stroke. He too had to be admitted to a nursing home. He was 82.

Through all of this Mr. Seller still hung on and continued making mortgage payments. By the time I was contacted to help sell the property the value had dropped to $73,000. Instead of continuing to throw good money after bad he decided to go forward with a Short Sale. Deadbeat!!

I mess with Short Sales because real people need me.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more?


The BIO for Bryant Tutas

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About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.