www.ShortSaleSuperStars.com…….IT’S FREE!!

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

Hi Folks. We are looking for 55 new members this weekend. We already have 145 members and would love to hit 200 this weekend. Come on……it’s FREE!!!!

All things Short Sale

Wendy Rulnick and I have opened up www.ShortSaleSuperStars.com to everyone. That’s right…no more membership fee. So……if you are interested in Short Sales pop over and join. We’d love to have you.

More short sales

***Together WE can make a difference!!.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

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

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

Real Estate Negotiating. It’s not rocket science.

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

Hi folks. Let’s talk a little bit about negotiating. Negotiating is one of the things I enjoy most about my job. I would be perfectly happy to never do anything but sit at my desk and negotiate deals over the phone.

Negotiating is an acquired skill that anyone can learn. It’s one of those things that the more you do it the better you get. I also think everyone has their own way of doing it so I’m just going to try to explain what works for me and then you can tweak it or add to your current way of doing things so that it works for you and your market. And hopefully, you will be able to add some suggestions or techniques, in the comments, that will help me to improve. So here goes:

One of the first things I’ve learned about negotiations is that unless the offer is acceptable I always suggest to my Sellers that they counter offer. We rarely out right reject an offer. I’ve had offers that started out extremely low where the Buyers eventually came up. There are some Buyers who just have to get the low ball offer out of their system. It could be a cultural thing. It could be they have watched too much late night TV.  Whatever the reason…..it’s just an offer. Don’t let the Sellers take it too personal and get upset over it. Counter it.

When I receive an offer on one of my listings, the first thing I do is call the agent and go over the offer with them. I do this for two reasons. One, I want to make sure I have the entire offer and I’m not missing an addendum that may have additional terms on it and secondly, I want to open up communications and get friendly with them. Why? Well, it’s simple, they may tell me something that my Sellers and I can use while negotiating. You would be surprised at the things I’ve learned during the course of a conversation.

Next I call the loan officer or mortgage broker. Same strategy, ask questions and listen. You can find out quite a bit of information. But most importantly, I want to make sure the Buyers truly are qualified. You can usually tell if the LO is being truthful with you or not.

Now folks, I’m not working for the Buyer. I work for the Seller and my goal is to get as much money as I can for my Seller’s property. There is nothing wrong with me asking questions. If the Buyer’s side chooses to answer something they shouldn’t, well that’s their problem not mine.

Once I have taken these two steps, and I’m satisfied with the answers, I prepare a Net sheet and transaction outline for my Sellers. Now I’m ready to get with my Sellers and go over the offer. Initially I prefer to present the offer via Email or by phone. At this point in the negotiations I’ve just found it easier on the Sellers if I’m not burying them in paperwork right up front. I present the offer by using the Net sheet and transaction outline that I have prepared. I want the Sellers to concentrate on the things that are important to them not 10 pages of useless disclosures and addendums. We can go over that stuff later.

I suggest to my Sellers that they make a strong counter offer. We want the Buyer to be tempted to accept our counter. I also suggest they agree to as many minor things as they can i.e warranties, closing costs contributions, closing dates and the such. If the costs/terms are within reason, accept them.  Give the Buyer the small stuff. It’s easier to get a counter accepted if you are not changing or denying every little thing the Buyer is asking for. If the Buyer wants closing costs and warranties, these items are just reflecting in the counter offer price anyway……so why not leave them in?

Once the Seller has decided on a counter offer we make the changes on the contract and mark where the Buyer needs to initial. Now this step, may be a little controversial and some may not agree but here goes, my Sellers do NOT sign or initial the counter offer. I Email it to the Buyer’s agent with no signatures or initials. “But Broker Bryant, why do you do that?” Well, let me tell you, I want the Buyer to commit before my Seller signs off on it. My Seller ALWAYS signs last.

We keep the property on the market and take showings and offers until the Buyer has agreed and signed and initialed everything AND put up his escrow deposit. I want my Sellers to be in a position to negotiate and accept another offer if one should come in that’s better. I don’t want the Buyer to sit on my Seller’s counter for two days while they decide whether or not to accept it or counter it.

Also,  NEVER give an ultimatum in negotiations. Don’t say, “This is my Seller/Buyers final offer, take it or leave it.” It slams the door shut on any further negotiations and it’s not true. I can assure you, if my Seller comes back within $500, your Buyer will probably accept it. So just don’t give ultimatums. Negotiate until the deal is accepted or dead and buried.

That’s how I do it. Any questions or suggestions?

***More videos from ROAR!! Productions

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

Florida Short Sale Approved by Chase in 137 days!

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

Another successful Short Sale approval in Central Florida!

Lender: Chase

Amount owed: $129,000

Hardship: Loss of income and medical

The property was placed on the market on February 14th at $110,000. The price was slowly reduced to $85,000 on April 11th and went pending on April 18th at $87,500.

The complete Short Sale Package was submitted to Chase on April 24th.

On July 17th we were asked by Chase to reduce the Seller concessions from 6% to 3%. So we rewrote the contract at $84,500 and reduced the Seller concessions.

On August 4th the Buyer’s appraisal came in at $60,000. We rewrote the contract at $60,000 and submitted to Chase with the appraisal.

We received written approval from Chase on September 1st for $60,000. The amount of the “Short” is $77,000 or 60% of the mortgage. No note or cash contribution is required of the Seller.

From contract to approval took 137 days. Not too bad for Chase.

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

 

 

Jingle Mail. The next big thing.

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

The walk away

Hi folks. This current real estate market and economic climate is really taking it’s toll on people. We’ve recently heard of  “Strategic Defaults” and “Delaying your foreclosure” now we have the “Walk Away” or mailing your keys back to the lender. Jingle mail is what the lenders call it.

And its spreading.

Not only are people doing this with their houses but they are also doing it with their other debts. Stop paying. Walk away.

If you want to get a better feel for people’s thought process just read through the comments on this article:

The New Consumer Debt Strategy: Just Walk Away

People are fed up. They are getting fed up with their credit cards’ interest rates going up even though they have never been late on a payment.

People are fed up with corporations getting trillions of dollars in bail out money while they get squat.

People are fed up with FICO scores and the control they have over our lives:

5 People Who Check Your Credit

People are fed up with creditors and their lack of willingness to help.

People are fed up. Are you?

So walk away
And close the door
And let my life be as it was before
And I’ll never never know
Just how I let you go
But there’s nothing left to say
Just walk away

*** Celine Dion—Just Walk Away—Lyrics by Albert Hammond.

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

 

Will you miss me when I’m gone? Will you even know?

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

Socila network icons

Hi folks. Here’s a question for you…how many online networks do you belong to? I would bet that a lot of us on ActiveRain also have profiles on Twitter, Facebook, Trulia, LinkedIn and most of the more popular sites.

So what’s your number? 5? 10? 20? More?

Would your loved ones know how to access these sites if you died or became incapacitated? Would they be able to let your online friends know what happened?

The reason I ask is that I read an article today in the Orlando Sentinel that asked the question…. “What happens to our Virtual World when we die?”. Written by Etan Horowitz

Personally, I keep all of my user names and passwords in a Word Document. Currently, my document is 4 pages long!!! I have well over 100 accounts that require passwords or pin numbers.

After reading the article from the Sentinel I am placing this issue on my list of things I need to take care of a.s.a.p. How about you?

Here are some sites that may help you:

www.TheDigitalBeyond.com

www.LegacyLocker.com

www.AssetLock.net

www.DeathSwitch.com

Do you know of any more?

 

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

SHORT SALE AGENT TRAINING

Short Sale Negotiator Interview…..11:00 am Eastern TODAY!!

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

THE NEGOTIATOR INTERVIEW

 

TODAY!!! Saturday August 29th at 11:00 am Eastern ….(Now available on MP3)Wendy and I will be interviewing a Short Sale Negotiator from one of the major lenders. He’s been doing this for 18 years and is a wealth of information. He has agreed to spend 90 minutes answering our questions.

Do you want to know:

  • What is the best question to ask when you follow up on your short sale?
  • What are the short sale phone reps looking at on their computer screens?
  • How are all those faxes separated and imaged in?
  • What qualifications do short sale negotiators have?
  • Why do they tell you “No” when it makes sense to you?
  • Why do they deny your BPO and comps?
  • Do they care if the buyer is going to “walk”?
  • What is going on with your package after two months of waiting?
  • What happens with Fannie Mae files?
  • What agents get the best treatment and why?
  • What would the negotiator tell you if they were allowed?
  • What can you do to mess up your chance of approval?
  • Why do they cut your commission when they are the junior lien?
  • How can you get them to reduce the promissory note or cash contribution?

………and much more.

$27

The Negotiator Interview is being recorded and will be available on MP3 just in case you can’t make it “live”.

Folks…… this may be the best $27 you have spent in a long time.

If you want to join us……….

Order The Negotiator Interview

Also, join www.ShortSaleSuperStars.com It’s FREE!!!

Bryant Tutas
Wendy Rulnick

Founders

http://ShortSaleSuperStars.com

Available Short Sale Training:

Short Sale Listing Package $47.00
Letter of Authorization,
Short Sale Detail Sheet,
Short Sale Questionnaire,
Short Sale Listing Check List,
What is a Hardship?
Short Sale Hardship Letter Outline,
Short Sale Financial Worksheet,
Short Sale Submission Package Cover Sheet,
Short Sale Submission Letter,
Short Sale Package Labels (sample)

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
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

SHORT SALE AGENT TRAINING

All Your Short Sale Questions – Answered

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

 

What more can I add? This is an awesome opportunity to Learn, Know and Grow.

 

Via Wendy Rulnick “Its Wendy!” Destin Short Sales (Rulnick Realty, Inc.):

Short Sale courses

 

Are you a short sale specialist? Are your hands cramped from using the phone?  Is your neck permanently twisted from being on hold all day? Are you tired of your faxes getting lost, buyers walking and your files being closed?  What is going on?  How can you improve your short sale processing and get an “edge” on success?  Well, we’ve got a solution for you.

On Saturday, August 29, at 11:00 Eastern, Bryant Tutas and I will be interviewing a working short sale negotiator from a “Top 5” Servicer.  Believe me, this is a big bank that you have likely dealt with, but he has to remain anonymous or he could lose his job .  Friends, we’ve lassoed a big one for you to answer any short sale questions you’ve ever had.  Get out your calendars, pen and paper and get ready!

Do you want to know:

What is the best question to ask when you follow up on your short sale?

What are the short sale phone reps looking at on their computer screens?

How are all those faxes separated and imaged in?

What qualifications do short sale negotiators have?

Why do they tell you “No” when it makes sense to you?

Why do they deny your BPO and comps?

Do they care if the buyer is going to “walk”?

What is going on with your package after two months of waiting?

What happens with Fannie Mae files?

What agents get the best treatment and why?

What would the negotiator tell you if they were allowed?

What can you do to mess up your chance of approval?

Why do they cut your commission when they are the junior lien?

How can you get them to reduce the promissory note or cash contribution?

If you want answers to these questions and more, join me and Bryant Tutas when we interview The Negotiator of a “Top 5” Servicer this Saturday, August 29 at 11:00 Eastern. 

It is not necessary to be there live – we will send the recorded MP3 for everyone who signs up.  The cost is a modest $27 to pay him for his time. 

So, get in YOUR questions.  This is real, this is “insider”, and this information is going to help YOU! …..  Sign up below!

 

Wendy Rulnick, Broker, Rulnick Realty, Inc. 

www.shortsalesuperstars.com

Why do we work Short Sales?

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

is this a short sale?

  • Working Short Sales is certainly not a glamorous job.
  • Short Sales don’t pay very well (at least in my area).
  • Short Sales are hard work.
  • Short Sales can be very frustrating.
  • Short Sales take a long time to get approved and closed.

Would I still work Short Sales if I had it to do all over again? Absolutely!!!! And here are a few reasons why……….

My husband and I currently live just outside of Manchester, New Hampshire.  We owned a house in Haines City, FL that we’d been trying to sell for over two years, but to no avail.  After having it listed with three different agents with not so much as a single offer, our next option was foreclosure which would have devastated our credit!   While doing a search online, I stumbled upon Bryant’s website which talked about alternatives to foreclosure, one of which was The Short Sale.   Bryant Tutas saved us from having to go into foreclosure!  He worked very hard for me and my husband and got the bank to accept the short sale!  Less than 4 months later, from start to finish, we closed!!!  Bryant was a God send to us and we would highly recommend him to anyone who wants to sell their home! – Lara and Dan

Bryant,  I want to thank you for all the help you provided in a professional manner. The short sell went well considering all the negotiations you had to do with First Horizon and Etrade. The end result saved us money and I hope some of our credit rating. I would not hesitate to recommend you to anyone interested in purchasing a home or doing a short sell.

Best Regards to you in the future,
David and Sara

When we first met Bryant we were at the point of total despair and we were seriously contemplating walking away from our home, but Bryant calmed our fears and explained to us the option to do a short sale, which is a better avenue than going into forecloseure. Just a short two months later Bryant got the bank to accept an offer. Our house was sold and most importantly we saved our credit. My wife and I now have a second chance to make it right this time. Thanks Bryant for all your hard work and dedication to us.

     Sincerely, Vanessa and Garry

It’s a tough job but someone has to do it!!! Do yo have what it takes?

Available Short Sale Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

SHORT SALE AGENT TRAINING

Looking For A Lakefront Home In Central Florida?

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

You know……..it is HARD to find good lakefront homes for sale in Orlando Florida. I’ve been searching for several days now for relatively new homes with lakefront and a pool. It also must have a dock for a boat and be a good lake for skiing.

My search encompassed Orange, Osceola and Polk counties for lakefront houses with at least 3,000 sq ft, 4 bedrooms up to $750,000. I figured there would be more than 2 that were suitable to my Buyer!!

Here are some interesting facts on lakes in Florida.

  • There are an estimated 7,800 lakes in Florida that are greater than 1 acre in surface area. Of these, 35 percent are located in just four counties: Lake, Orange, Osceola, and Polk.
  • Larger retention ponds sometimes are used by residents for boating and fishing and are considered by some to be lakes. (Not by me!)
  • The classification of some water bodies as lakes is highly subjective. What one individual considers a “lake” another might consider a “pond.” Generally, any water-filled depression or group of depressions in the land surface could be considered a lake.
  • Many lakes in Florida were formed by sinkhole activity and thus are called sinkhole lakes.
  • Most Florida lakes are seepage lakes—nearly 70 percent of the lakes in Florida have no surface water streams flowing into or out of them.

So….if you are looking to purchase or sell a Lakefront Home in Central Florida you best give me a call. If not you could end up with one of these.

Golk course pond

  Retention pond

                    Golf Course Pond                                                       Retention Pond

Instead of this………………….

Fishing and skiing lake

Fishing and skiing lake

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

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

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

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.