winter garden fl real estate: Merrick Landing at Summerport Short Sale Home for sale, Windermere Florida - 09/18/08 04:42 PM
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winter garden fl real estate: Buyer Advise for an Orlando or Windermere Fl. Short Sale - 09/15/08 03:34 PM
Buyers: 1. First understand that this process may take 90 days after you've submitted your offer. Don't go into a short sale if you have a specific timeframe that you must have the home closed. 2. Understand that there are no guarantees in a Orlando short sale. 3. The lender may require more cash or a higher price up to the actual moment of closing. 4. The lender will most likely not allow the seller to pay any of your closing costs or give allowances for repairs. Typically, all deals are "AS-IS". 5. There is likely no certainty of the final … (1 comments)

winter garden fl real estate: Baldwin Park Short Sale Orlando Fl. $559,900 - 09/06/08 03:13 PM
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winter garden fl real estate: East Orlando Fl. Short Sale Property for sale - 09/06/08 03:11 PM
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winter garden fl real estate: Apopka, Fl. Short Sale Property For Sale - 09/06/08 03:09 PM
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winter garden fl real estate: MetroWest area Condo Orlando For Sale $169,900 Short Sale - 09/06/08 03:08 PM
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winter garden fl real estate: Conway Acres short sale - Orlando Fl. - 09/06/08 10:52 AM
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winter garden fl real estate: Tax Consequences on your Orlando, Windermere Fl. Short Sale - 09/06/08 10:47 AM

1. First and foremost I would always recommend anyone considering a short sale in the Orlando area to talk to your tax advisor first.
2. I posted in my FAQ's on short sales the following:
Is the seller going to get hit with a tax bill or a 1099 if you do a short sale?
Upon successfully closing a short sale, lenders will always report a loss to the IRS and issue a 1099. However, the Mortgage Forgiveness Act of 2007 was signed into law on 12-20-07 and is now official, effectively getting rid of the question "will I be … (0 comments)

winter garden fl real estate: Orlando Short Sale Sellers considering a short sale - 09/01/08 11:01 AM
1. Your credit score may fall 100 points or more.
2. You may be asked to sign a note or take a new loan for the amount of the short fall.
3. The lender may get a judgement against you for the amount of the short fall.
4. You may have to pay income taxes on the amount of the shortfall - it could be taxed as income to you.
5. Understand that you will have to prove that you cannot pay. Similar to how you qualified for the loan, but now you have to prove that you cannot afford this … (2 comments)

winter garden fl real estate: Bridgestone, MetroWest area, Orlando FL. home for sale $269,900 - 08/30/08 03:36 PM
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winter garden fl real estate: Do I Qualify for a Short Sale in Orlando? How about my Luxury home in Windermere Fl.? - 08/27/08 08:13 AM

Do I qualify for a Short Sale? Do You....
Owe more on your Orlando area property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc? Have difficulty covering your expenses each month? Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank? Are You Having Trouble Making The Payments? Are You....
Feeling the stress mounting with each missed payment and phone call from your bank? Have difficulty covering your expenses each month? Getting confused as … (0 comments)

winter garden fl real estate: Orlando Area News - 08/19/08 01:09 PM
Pending sales predict an improvement in year-to-date sales numbers
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winter garden fl real estate: NOT a Short Sale in Lakes of Windermere, Windermere Florida - 08/09/08 10:17 AM
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winter garden fl real estate: Windermere Florida Short Sale in Keene's Pointe - 08/09/08 10:16 AM
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winter garden fl real estate: Short Sale in Ocoee Florida in the Crestwood Heights community - 08/09/08 10:14 AM
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winter garden fl real estate: Lake Nona area Short Sale in Northlake Park, Orlando - 08/09/08 10:13 AM
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winter garden fl real estate: Apopka Florida Short Sale - 08/09/08 10:10 AM
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winter garden fl real estate: Metrowest Short Sale Condo in Orlando FL. - 08/09/08 10:08 AM
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winter garden fl real estate: Apopka, Fl. Short Sale Property For Sale - 07/25/08 03:56 PM
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winter garden fl real estate: Orlando Condo For Sale Short Sale waterfront on Turkey Lake - 07/25/08 03:55 PM
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Jerry LaRose

Orlando, Windermere FL. Real Estate, ABR, GRI,...

Windermere, FL

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Keller Williams Classic Realty

Mobile: (407) 580-7011

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