Find my dream home in Vero/SebastianPriorities are 1. NO HOA! 2. NO HOA! 3.Attached or Detached RV Garage or enclosed storage building. 4. Up to $425,000 5. Vero/Sebastian or South Brevard County area. 6. 3/2 - 1800 to
Be cautious about many of the waterfront properties you may see advertised. Not all of the canals lead anyplace other than around the canals. Some, especially in the Sebastian area have no access to the Intracoastal Waterway from the canal. Sebastian does offer an excellent boat launching park at the waterfront. Check with us for the type of waterway access offered with real estate listings. Email ginny@MyVeroBeachRealEstate.com for assistance.... more
Yes, I want enough information to make a decision on whether to proceed. If the HOA fee is reasonable, I will make further inquiries. If it seems too high, it is a signal that something (poor construction, faulty financial planning or other mismanagement) is wrong. I don't want to waste my time and energy on a property that should be a non-starter.... more
These days the short selling banks are trying to get higher prices. If the investor is Fannie Mae then they may be coming back with a crazy price (Often the big banks like Bank of America, Chase, and Wells Fargo are just servicing the loan for Fannie Mae and Freddie Mac who are the investors for the majority of loans in default). Fannie Mae made a decision last fall they were going to try and get more money for their foreclosures and short sales. It has been a real problem with the short sale market but there are procedures in place to contest the price.
First of all you can just counter the bank's price. Just coming up $500 may show that you want the house but you are not going to pay more. That has worked for me many times.
If the bank will not accept one penny less and the agents involved can show that the bank's price is really out of line, then there are ways to fight it. The listing agent should look up the loan to see if it is a Fannie Mae or Freddie Mac loan. If it is one of their loans, then there is a website they can go to contest the price.
There is a good chance the listing agent listed the home too low. Sometimes agents doe that in hopes of getting a quick offer so they can see what the bank will really take. That is not fair to anybody, but it does happen. Banks are starting to give agents advice on pricing in the beginning of the short sale process so this does not happen.
In the end you may have to decide you really want the house and pay the price or move on and find another house. If you are getting a loan then your bank will also do an appraisal. If that comes in low, you can send it to the seller's lender and ask that the price be lowered to the appraised price. You have a good chance of getting the price down with a full appraisal but there are no guarantees.
I wish you well and good luck.
Karen Anne Mathers
Charlie if the appraiser from your bank when getting a mortgage comes back lower than the price the sellers bank has agreed to sell the home to you at, your choice may be limited. You would need to submit a copy of that appraisal back to teh sellers bank to ask them to lower the price. It is about a 50/50 chance they will reduce it but be prepared to wait another month unless they have a real good listing agent who gets things done.... more