Brokering and negotiating deals has been Steve Korshak’s passion for 30 years. A real estate broker and an attorney, he has practiced business and civil litigation, real estate, family law, personal injury, wills, probate, and guardianship as a member of the Florida Bar since 1985. As an owner and negotiator for Short Sale Facilitators, Steve sees the need to help people out of tough economic situations through short sales.
“I help people who are in financial distress,” Steve said. “We’re trying to help people who are challenged. It’s what we do every day, yet it is very complex for anyone who is under water in a home. Alma has a real emotional reason for doing this. She wants to help people and needs to make that difference.”
Steve’s philosophy on negotiation is that short sales are an intellectual puzzle for families bearing the weight of a home that they can no longer afford.
“The stress from that financial burden can be just unbearable,” Steve said. “That stress affects everything else you do. That’s why we want to help; so that people can get out from under the weight of their homes and into a life that they can enjoy.”
Steve graduated from the University of Chicago and then attended and graduated from John Marshall Law School. It was during a position as a law clerk that he met and married Alma and they began raising a family in Chicago.
After law school Steve immediately went into private practice as a partner at Korshak & Beaulieu, P.A. Soon after Steve became an instructor at the Chicago City Colleges in salesmen and broker’s license courses. He also founded Heritage Title Company and began real estate development deals.
Among many projects, an investor group was put together by Beaulieu’s father, of which the partners became investors in an Orlando timeshare company. Korshak & Beaulieu handled the title insurance, litigation and foreclosure and deeding for a multi-million dollar timeshare company.
The duo commuted back and forth from Chicago to Orlando until Steve and Alma moved down to Orlando to stay in 1988. Steve ran dual law firms, dual title companies, dual offices, and multiple real estate development projects. He developed a 48-unit town home unit in Chicago, apartment buildings in Orlando, public shopping centers including a Publix, condominiums, strip shopping malls in Chicago and Orlando.
Steve began a Keller Williams real estate franchise in Florida with eight offices and became the third largest franchisee owner of Keller Williams in the U.S. Eventually Korshak & Associates, P.A., was established in 2002, splitting amicably from Beaulieu.
Steve developed the real estate title office Greater Florida Title Company, the law office and the Short Sale Facilitators office building 950 S. Winter Park Dr., Casselberry, Florida. He continued by developing The Shoppes of Sweetwater, and developing an outparcel of McDonald’s.
Steve Korshak is an author of four books on science fiction illustrators, all which are well received within the genre. He is an avid art collector whose exhibition of science fiction illustrations had a record attendance at the Polasek Museum in Winter Park, Florida. He continues the real estate development of various projects within the five businesses throughout Florida.
Why Homeowners Should Be Proactive and Do a Short Sale
“Short Sale Facilitators are RESPA compliant and our team is comprised of realtors, lawyers and short sale specialists,” Steve said. “If you’re in trouble with your house you can either sit back and be reactive or do something by being proactive.”
Steve suggests that if you’re proactive you’re going to end up in a better situation than if you’re reactive from a credit standpoint. There are two ways to be proactive:
- One: Hire Short Sale Facilitators and let a specialist do a short sale for you.
- Two: Hire an attorney to help you with a foreclosure defense.
“If you’re reactive you’re screwed,” Steve said. “You’re just sitting back reacting to whatever’s going on. They’re (the lender) going to file a foreclosure, you’re not going to hire an attorney and you’re going to be out in 90 days. “Whereas with us doing your short sale we can buy additional time.”
Homeowners Credit Damage from Foreclosure vs. Short Sale
“A foreclosure and or a bankruptcy are worse on your credit…whereas a short sale is not as bad,” Steve said. “Because you’re working with a lender you can do a short sale before a foreclosure is filed or while a foreclosure is filed. It all depends on how proactive you are.”
Plan Ahead By Doing a Short Sale to Avoid Foreclosure Fees
If you do a short sale before a foreclosure is filed you could avoid paying an attorney for a foreclosure defense. The difference is that the short sale fee charge by Short Sale Facilitators is paid by the buyer of the home in the short sale!
“If you’re working with us on a short sale and we’re working with the lender and the home is sold but there is a deficiency (the dollar amount that is left between what the house sells for and what is owed to the lender) many times we can negotiate a deficiency down to nothing.
“Whereas in a foreclosure you’re being reactive again,” Steve said. “There’s nothing you’re doing. In short sales we are assisting the seller, working with the lender, we’re not assisting the buyer, but we are paid by the buyer.
“We are sometimes even paid by the bank, sometimes they’ll pay,” Steve said. “And if we can’t get the bank we can get the buyer to pay the short sale fee. The realtor doesn’t pay for any of it. It comes out in closing costs.”
Realtors and Lawyers Benefit From Working With Short Sale Facilitators
When a realtor stops listing property or stops selling property to negotiate they’re losing money. When an attorney has to negotiate and monitor a short sale and spend hours and hours to complete a short sale they lose revenue.
“We like working with and introducing our services to realtors and other lawyers because they benefit from our negotiation on their short sale,” Steve said. “Realtors earn their commission and lawyers are able to help their clients. We keep everyone involved in the sale completely informed and treat every short sale and seller as if the home was our own.
“Why? Because we want the seller to keep every penny possible and complete the short sale without the seller having to bring money to the closing on the sale of their home,” Steve said.
“They’ve (sellers) been through enough financial turmoil. We will negotiate away a deficiency if we can. We will go to the lender with requests to forgive the balance. We’re going to ask for everything possible so that a seller can walk away from the house not owing anything.”