Calling it a submarine sale reflects the idea that we do not care how far underwater the home is, Beardsley said. You can owe $200,000 on a $100,000 home and we can still give you cash at closing.
Dunedin, FL (PRWEB) December 29, 2013
Selling a foreclosure house is now easier with the introduction of the “Super Submariner Sale” announced yesterday by Advanced Realty Team, Inc.
Advanced is a Dunedin, FL-based real estate boutique specializing in buying houses fast and in as is condition for more than two decades.
“The name of the special is not designed to make light of the fate of millions and millions of people who have houses in or going into foreclosure because of a number of reasons, including a real estate slump that has left values below mortgage balances,” said George Beardsley.
Need to Let Them Know
“We are trying to attract the attention of some of those folks who owe more than the house is worth and to offer to pay cash for houses that actually have a negative balance,” Beardsley said.
The name of the sale reflects the common expression that a house worth less than the mortgage is said to be underwater, the company said.
“Calling it a submarine sale reflects the idea that we do not care how far underwater the home is,” Beardsley said. “You can owe $200,000 on a $100,000 home and we can still give you cash at closing,” he said.
Red Tape and Conditions Apply
There are disclosures and conditions on the sale, which include the house, must be within 35-mile radius of Dunedin, FL and must be no closer than 30 days to a final judgment for foreclosure, the company said. There is no promise of “saving the credit” of the buyer.
Advanced explained it is their intention to hire a board certified real estate attorney in an attempt to get the lender to recast the loan so that it is compatible with the current property values.
“Of course, the home owner could do the same thing we are planning, but many do not want the large legal expenses with no promise they will be successful,” Beardsley said.
We Are Willing to Take the Risk
“We are willing to take that risk in many cases,” he said. “In the meantime the house will be added to the Famous Foreclosure Rental” program, providing affordable housing at below market price,” he said.
The Famous Foreclosure Rentals program has been running over a year and Advanced has been looking for more houses that meet certain requirements constantly.
“We hope calling it a “Super Submarine Sale” will get attention without offending people in foreclosure,” Beardsley said. “Foreclosure is so common today and people react to the word differently, but it still represents a hardship and this is a way we can help some people by giving them cash,” he said.
ABOUT ADVANCED REALTY TEAM
George and Maryan Beardsley, two former stock brokers, founded Advanced in 1996 after spending several years working for a national franchise real estate firm and gradually doing a larger portion of their business buying and selling homes for themselves and financing sales for other Realtors. They entered the real estate business the hard way, owing a home in Boca Raton Florida within a mile of the site for a planned garbage burning incinerator.
The Realtor they hired suggested owner financing which Maryan and George said sounded “stupid and scary.” But having little choice they sold and held the mortgage and the more they learned about creative financing, the more it seemed to be an important tool, especially when it is difficult to sell houses.
Eventually, the buyer of their home refinanced and the Beardsleys received the full amount of cash for the sale, at top price and during a period when no one had been able to sell. “That really got our attention and we left stocks, commodities and bonds for real estate,” George said. The firm offers a number of ways of buying houses fast and lately has been offering affordable homes programs, using homes bought as rentals and rent to own homes.
Holds U. S. Patent Office Trade Mark
George Beardsley holds the U.S. Patent Office Trade Mark for the Famous Rent to Own on Steroids Program™ where all rent paid in the entire first year becomes down payment and the tenant-buyer can earn a mortgage by making 12 consecutive monthly payments on time and maintaining the home as though they already owned it. This program is now be modified to be Dodd-Frank compliant.
In the last year, the firm has added an Internet marketing division to use some of the experience the firm has developed Internet marketing both the purchase of houses fast and the various rental programs offered, including the Famous Rent to Own on Steroids™ and the Famous Foreclosure Rentals program. Advanced also offers a service for local merchants where they guarantee the local firms’ website will be on the first page of Google.