Orlando Real Estate News

Determining the Offer Price

Finally! You found the "right" Orlando area home to purchase! After all the searching on the Internet, investigating Open Houses, as well as the other viewing we did, and there it is! Now to close the deal.

Read Also:  Advice for Orlando Area First Time Buyers

Offering Price

What you offer on an Orlando area home depends on many factors.

• Offer above or below the asking price?
• What concessions do you need or want,
• what closing arrangements are to be made, to name just a few.

You really have to ask yourself how much do you really want the house? If you really want the home, you may want to make an offer equal to or greater than the asking price. This is where we come into the picture to assist you. We will have the information that you will need to make a final decision.

Read Also:   Let's Talk About Multiple Offers

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http://www.orlandofloridarealestatehomes.com/00A9B9

The FHA (Federal Housing Administration) has helped millions of Americans to get their dream homes in Central Florida, since 1934. The FHA does not provide home loans or set interest rates. It only provides mortgage insurance on loans from FHA-approved lenders, against defaults. And in case you didn't know...it's not just for first time homebuyers!

An FHA loan can be used to buy or refinance a new or existing single family house, a condo unit, or a manufactured or mobile home, provided that it is on a permanent foundation.  

What benefits does the FHA Loan Program offer to those buying a home in Orlando Florida?

The FHA Loan Program offers many benefits, including competitive interest rates, and a smaller down payment. It also offers easier qualification, and there is no need to have perfect credit. Greater Orlando area home buyers get more protection, helping them to keep their homes.

The FHA Loan Program is ideal for first-time home buyers in Central Florida, who are worried about qualifying for home loans. It is also suitable for non U.S. citizens, those who don't have perfect credit, and those who want to keep their monthly mortgage payment as low as possible.

People who are concerned about being able to pay their monthly installments, and are worried that they may go up, can also opt for the FHA Loan Program.

Need more information about Orlando Real Estate, the home buying process or the FHA loan program?  Contact your local Seminole and Orange County Realtor today for a consultation.

You need to work with a Professional who understands these differences and how your home compares to the current Real Estate Market, how best to present your home, and who guide you on the road to a successful home sale.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

SOLD:  How to attract more Orlando Florida home buyers with seller financing

Like honey draws bees, creative financing can draw home buyers in Orlando Florida to the doorstep of your home for sale. Many Orlando area home buyers are motivated to buy but need help meeting mortgage-qualification rules, especially today. You can help a prospective home buyer finance the purchase of your house (and speed your sale) in several creative ways. 

Seller holds first mortgage.

When selling a home in Orlando Florida, you can lend the home buyer the money, pocket the interest payments, and hold the mortgage on the property, as long as there is no current mortgage. The tax benefits are you may be able to pay income tax only on a percentage of the principal and interest that you get each year. You probably will want a 20% down payment (to discourage default on the loan), and you'll need an attorney to draw up a deed of trust and promissory note.

Seller holds second mortgage

You can help fill the gap between other sources of financing and the sales price of the house. The second mortgage is usually for a smaller amount than a first mortgage but is riskier since it could be wiped out by defaulting on the first mortgage. Real Estate financing can be tricky, so be sure to have your interests legally protected by your attorney.

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If you've found your Orlando dream home, but don't have the money for a down payment, you may want to consider using a Central Florida down-payment assistance program to help make that dream come true.

What is down-payment assistance?

Down-Payment assistance is a program provided by non-profit organizations to help low-income families acquire the down payment, closing costs and other up-front expenses required to purchase a home. It may surprise you to know that almost one fifth of borrowers with an FHA mortgage utilize a down-payment assistance program.

The three most recognized non-profits offering down-payment assistance are AmeriDream Inc., Partners In Charity, and Nehemiah.

For first-time homebuyers, I should start at the beginning by explaining what a down payment is and why it is often required.  A down payment is money a home buyer must come up with out of his or her own pocket in order to qualify for a mortgage.  It is typically anywhere from 3% to 20% of the home's purchase price.  In the past, 20% was most commonly required, but to make home ownership more accessible, requirements have been relaxed.  Today with an FHA loan, the down payment can be as low as three percent.

Lenders require a down payment in order to reduce their risk of the borrower defaulting on the loan.  The more money someone has invested in their home, out of their own pocket, the less likely they are to just walk away.  Also, as we're currently seeing prices fall in many areas of Orlando, Central Florida and around the country, lenders want a down payment to ensure they are not lending more than what the home will be worth in 6 months.

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Orlando Florida Real Estate Resource 

Orlando Florida Luxury Real Estate - Winter Park, The Landmark Condos

Think of everything you love about Park Avenue in Winter Park Florida.  Inspiring location, exquisite cuisine, relaxing amenities and oh so wonderful shopping.  With The Landmark Condos, the experience you love can be yours to own - for a lifetime.  In Orlando Florida's most sought-after destination is a luxury lifestyle reserved for a few select residents.  Each spacious, exquisitely designed luxury home offers the unrivaled advantage of world class design and understated elegance, providing effortless comfort and peace of mind.

You'll love the warmth & grandeur of this architectural masterpiece. The "Landmark" is Winter Park's prestigious condo home location, nestled between the world renowned Park Avenue shopping district & historic Lake Osceola.  This grand yet quaint building has only a handful of unique and distinctive residences.  All are appointed with the finest finishes and breathtaking open terraces overlooking the serene "Olde World" garden courtyard. This elegant location also has secured gated entrances and underground parking for your every convenience. 

The perfect location adds to The Landmark Condo's appeal, with close proximity to Park Avenue's quaint boutique shops, café dining and tranquil parks, easy access to Orlando Florida's highways, Downtown Orlando, Rollins College, the beaches, the attractions and more.  Come today and immerse yourself in this idyllic lifestyle!

Click Here For The MLS Listing Information

Virtual Tour

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