A real estate contract signed and accepted by the Seller and the Buyer, whether for a Miami condo or home, is a binding and fully enforceable contract, regardless if the contract is “subject to short sale lender approval” or not. If such real estate contract is subject to Seller’s lender approval it does not necessarily mean that [...]
Filed under Miami Beach Short Sales, Real Estate Law Tips by 
Rates on 30-year mortgages dropped slightly and remain just above record lows. Mortgage finance giant Freddie Mac said this past week that average rates on 30-year fixed-rate mortgages fell to 4.82 percent this week, down from an average of 4.87 percent last week. According the the Florida Association of Realtors, the all-time low of 4.78 [...]
Filed under Miami Beach Short Sales, Miami Real Estate News by
Great news for Florida condo buyers! According to the Florida Association of Realtor’s recent reports, the price of a condo dropped 37 percent from February 2008 to February 2009. The statewide existing condo median sales price last month was $109,300 while in February 2008 it was $173,900. NAR reported the national median existing condo price was [...]
Filed under Miami Beach Short Sales, Miami Real Estate News by
Attorneys Title Insurance Fund, a popular Florida Title Insurance Underwriter recently warned its agents about inappropriate estoppel letters from lenders on short sales. These sellers’ lenders have been including language in the short sale approval estoppel letters that would allegedly void the sale subsequent to the closing upon the discovery of certain acts or information. [...]
Filed under Miami Beach Short Sales, Miami Title Insurance by
Miami Florida Short Sale buyers and sellers have the convenience of using the standard Florida Association of Realtors Short Sale Addendum, but must also review it carefully to understand the terms. It is important to map out the time lines and clearly understand when time periods start and stop, particularly for inspections, in relation to [...]
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