Foreclosure in 32259 : Advice

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Nancy H. Mas…, Real Estate Pro in Ponte Vedra Beach, FL
Nancy H. Massengill answered:
what rules are there reguarding who pays liens against a short sale property that showed up .should the buyer or the bank be liable?
Unfortunately there are no "rules", however, it has always been my experience that the bank negotiates all of the outstanding liens prior to the contract settlement. They sho ... more
0 votes Share Flag Tue Apr 26, 2011 Foreclosure in 32259
Mark LeMenag…, Real Estate Pro in Lake Nona, Orlando, FL
Mark LeMenager answered:
what is the relationship between the appraisal and the accepted price in a short sale?
Sak, there is no relationship what so ever. Hopefully the accepted price is well below the appraisal. If not then the bank is trying to make a killing and you should walk (unless you ... more
0 votes Share Flag Wed Nov 3, 2010 Foreclosure in 32259
Mark LeMenag…, Real Estate Pro in Lake Nona, Orlando, FL
Mark LeMenager answered:
Is the bank required to present their counter offer on a short sale IN WRITING? Our realtor says a lender's verbal counter is standard. We say
No problem Eliane, then you don't get the house. Sorry, but it can be a ruthless game these days. If you wait for formal written counters, then you will get passed by. Fair no, ... more
0 votes Share Flag Wed Nov 3, 2010 Foreclosure in 32259
Alma Rose Kee…, Real Estate Pro in Tampa, FL
Alma Rose Kee, P.A. answered:
after wells gets appraisal and arms length addendum signed, what happens?
The negotiator for Wells Fargo has to see if your offer fits within the guidelines the actual investor/owner of your mortgage requires. Wells Fargo is unlikely to be the owner and is p ... more
0 votes Share Flag Thu Jun 17, 2010 Foreclosure in 32259
Manu Kapoor, Real Estate Pro in Queens, NY
Manu Kapoor answered:
any new experiences with wells fargo and short sales?
Wells Fargo is good, so far.
Only problem is they need 2 appraisals and that also 45 days old.
So if they took 60-70 days to decide they want to order the appraisal again.
Time is no ... more
0 votes Share Flag Thu Jun 17, 2010 Foreclosure in 32259
Nadine Mauro, Real Estate Pro in Boca Raton, FL
Nadine Mauro answered:
anyone ever had a bank counter offer at a price higher than list price on a short sale?
Hi Sak,

The answer is yes. It doesn't mean the house is worth the banks price. You can always counter with a few dollars more than the current offer and say that's th ... more
0 votes Share Flag Tue Jun 1, 2010 Foreclosure in 32259
Alma Rose Kee…, Real Estate Pro in Tampa, FL
Alma Rose Kee, P.A. answered:
anybody have recent short sale experience with wells fargo since the rules changed in April 2010?
Also the April 2010 are not "rules" but is voluntary and offers incentives to servicers and investors and sellers.
0 votes Share Flag Tue Jun 1, 2010 Foreclosure in 32259
Keith Manson-…, Real Estate Pro in Milwaukee, WI
Keith Manson- Metro Milwaukee Wisconsin answered:
I'm a buyer with an active contingent contract . Any ideas as to when wells fargo will approve?
Wells takes a good 60 -90 days to approve the sale after they have all documentation and allow 45 days to close. However, if your your deal is contingent on a sale of another property ... more
0 votes Share Flag Sat May 29, 2010 Foreclosure in 32259
Dawn Spencer, Real Estate Pro in Jacksonville, FL
Dawn Spencer answered:
Can the lender come after a new property we are looking to finance with a 401K withdrawal, before our existing home is foreclosed on? (see detail belo
Alice, I agree with Minna's answer. It is very important to start the short sale process as soon as possible. You will need to contact your bank to get the specifics of the proce ... more
0 votes Share Flag Mon Nov 16, 2009 Foreclosure in 32259
Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
Foreclosure on market for 3 months, hints of water damage....steer clear or go ahead and make offer?
Water damage can lead to many other problems down the road,such as mold. Factor in the cost of repairs and time and effort you'll need to invest in it to determine if you are getting a ... more
0 votes Share Flag Thu Mar 5, 2009 Foreclosure in 32259
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