Stephanie there are two things you need to worry about salability and added value. Salability is about overcoming peoples objections to buy your property for example a beige colored room with a scuff or two I wouldn't worry about however, a bright purple room even with perfect paint I would repaint. No one would walk away from your home because of a scuff or two however the bright purple would make alot of people walk away....that is salability overcoming objections. Added value I personally would not do before I sold....you could redo your kitchen and spend $20000 to do it but it may only raise the value of your home $5000. I would strongly suggest you have the Realtor that you are thinking of listing your home with come out and look at it before you do anything and get their input. If you have no one you work with I would gladly come out and take a look and give you my opinion. Good luck!... more
A lot of questions for you. The bank did what is called a bpo. Is that what your taking about? Is the house under agreement? if your broker is not calling you back you have options. Give me a call and I will tell you what you need to do. 610-737-5369
Weichert Realtors... more
Hi Carolyn, it has been my experience that if an offer is done online, the listing agent has been communicating with the bank and is used to doing this quite frequently. The listing agent can submit offers
online as many times as he wants to and generally the bank will give him/her an answer within 2-3 days.
With communicating online, it is so much faster than an actual short sale that has to go through all the hoops of this department and that department. I would call the listing agent and tell him that you want an
answer. I would call and be very proactive until he can give you a yes or a no.
Classic Real Estate, York, PA... more
It is not listed as an auction-- it was before but now back in the mls. The property is worth closer to the 150's than the 120's so I am guessing that the bank just does not respond to anything that is not close. The listing agent only tells me there is no word. I don't even have a confirmation of receipt of submission.... more
Yes Sarah there are several ways. To truly search yourself you can go to HUDhomestore.com and see what properties are listed however you will be limiting yourself to HUD only and you would still need an agent to show you the property and bid on the property for you. I would strongly suggest align yourself with a Realtor so that you can search all foreclosures and most of the time the seller pays our commission so the service would be free for you. Feel free to contact me if you would like me to do some property searches for you. 717-476-4029.... more
When the lender is considering whether or not to agree to the short sale, they require updated financials from you the seller to evaluate your financial situation and see if you have any funds to contribute to the deal or possibly take back a note so they can recoup some of the money they loaned you for the house.
If your financial situation is the same or worse, they may not require you to take back a note. They may also decide whether or not they're going to pursue you in the future for the deficiency (what you owed vs. what they are willing to accept on the deal for the short sale.
This is a common practice. I hope things work out for you.
Rosen & Company West
When an agent lists a short sale they must code it as such in the Realtors Association of York and Adams County multiple list service. Any agent belonging to RAYAC would be able to find properties that are short sales. If you aren't working with an agent feel free to call me I would be happy to help you.... more
Yeah it seems simple, right? Karen covered the basic requirements that most areas have:
- Has a closet
- Has a window
- Has a door to a hall
It's also required for them to have Heat (radiator, air vent, etc). Usually they must be a certain min square feet, and have a certain minimum ceiling height.
Assuming that the appraiser did his job, came by your house, the lack of a closet is a common thing that downgrades a BR but is easy to fix.
What happened to me was even more bizarre. I was buying a 3-unit multi-family with 4 floors. One unit is a 2-level unit, and both have kitchens but they are inter-connected and so just one unit. So ... this genius appraiser decided that the extra kitchen made them separate and appraised it as a 4 unit building, regardless of the fact that the TOWN lists it as a 3-family (which can't be changed without a variance). Basically, he wasn't willing to change his assessment to avoid looking like an idiot and stuck to his guns. So, the seller spent $800 to rip out one of the kitchens to make it work for underwriting. Fun, eh?... more
Hi Cin- First thing to do is go to a lender you prefer- and get pre approved. I have a list of several lenders if you need some ideas on that. Then call or e-mail me and I can refer you to an agent that knows the areas you would like to search for homes! Thanks- Carolyn 717 451-7004 email@example.com... more
My broker has quite a few, 32 to be exact, sctive foreclosed listings right now. A few of them in the York area. If you would like them to be emailed to you please email me at Lauri.Camplese@exithomefinder.com and let me know what area and what your price range is and I can send you a spreadsheet of the current homes that we have.... more
I like the site Dunes suggested on HUD. Ironically, I just sent that link, along with other educational materials to someone today. Ironically, after showing them some properties, they found a home in their own neighborhood, they happened upon a home going on the market next week. The guy agreed to sell it to them for far less than market price, providing they didn't use Realtors. The guys mom is a Realtor and will do the contract for them for free. I still sent them the information, as they need to know the steps necessary to protect themselves and make it all happen. I sent them to their possible purchase with a heartfelt hope it works out for them. They are a young family and really could just use a break.
You should contact your bank or credit union and get them to pre-approve you. The good news is that you are in control. No pressure, just gather the information. While they are making their determination, your mission should be learn, learn, learn! There are loan terms, real estate terms, and title terms that you don't want people spitting at you without some basis. It's okay to not "know everything" but you should give yourself the edge by understanding the process. You need to do this whether you use a Realtor or not. I tend to try to educate my buyers so they aren't constantly on the defense in information overload. Not all Realtors do that. It's your job to know.
Once you have an idea of what you qualify for, you need to ask your lender for a Good Faith Estimate. That is a sheet that will tell you all the charges to you for doing the loan. That is your power tool. With that, shop. Get a quote and request the same thing from several mortgage brokers and banks. It's a good idea to take what you find back to your bank. It doesn't hurt to give them a chance to beat your offers. This is a chunk of change that deserves your diligence. You'll be glad you were so smart!
I wish you all the best!... more
There are so many factors involved and the stage of the development is just one of them. It is such a good time to buy right now that choice, interest rates, and price may have more importance than the stage of the particular community. (if you are a first time buyer you should get cracking to take advantage of the 8K tax credit that is scheduled to end in November)
A few of the hings that work against a new community:
-lots of dust and some construction noise
-uncertainty about how the development will "develop" (will the same builder complete it, what quality would a new builder bring in and how would that effect your value)
-appraisals sometimes don't come in as high as expected if homes are more expensive than surrounding area
Some of the positives about buying in a new community:
-choice of home sites
-often introductory pricing
-you can get the know the neighbors a few at a time
-you might get more personal attention from the builder and marketing people
If you are looking at homes near Hanover and have not selected your agent yet, I would like to introduce you to a new community north of Hanover, but still within an easy drive. (nice homes starting around $200,000 by a really good builder)
The first thing you want to do is engage an agent to work for you in a buyer agency capacity. Once you have selected an agent to assist you the search begins.
I have lived in Hanover all my life and the restrictions vary from township to township. Depending on your location may limit what you can or can not do. Naturally a country location is going to be important, but, you will also need to speak with the zoning office about what you would like to do at the property.
If you would like to sit down and discuss your plans in person, please email me at firstname.lastname@example.org. My web site is listed below.
I look forward to being able to assist you.... more
Either one they both are bedroom communites to Baltimore. Hope the bypass in Hampstead helps with the traffic. Love the area use to live there and if your are looking to buy or sell I have a great local agent for you. Any questions, don't hesitate to call.
Diane Fuchs, CRS, GRI, ABR, E-PRO
Michael Saunders & Company