Ask the lender that gave you the DU approval what their minimum credit scores are, to be sure you meet them. But I can't imagine you would have gotten a DU approval without meeting their minimum credit scores. As long as you documented and represented everything accurately to your loan officer, and your loan officer then input everything accurately into the DU software, you should be fine.... more
Short Sales just like foreclosures are not always the best bargain on the market. Determining factors include an appraisal of value, the market value and the outstanding mortage value which could include more than one mortgage lender. The short sale process from contact to acceptance to final settlement could take as little as 2 months or as long as 12 months, every sale is different. Your decision for what to offer should be based on your specific financial situation and what your are willing to pay for a specific property. If you determine there are no other interested parties you may want to offer less than asking price but there is a limit to how low an offer the bank will consider and again each case is different. If you determine there may be multiple offer on a property then you need to make your highest and best offer. I strongly recommend you seek the services of a professional real estate agent with experience dealing with short sales to guide you through this process. Once the seller has accepted your offer the contract goes to the lender holding the outstanding mortgage for their approval of the sale. During this process the property listing status should be pending and while other offers may come in they seldom do. I f I may be of further assistance please don't hesitate to contact me; 410-924-0901, email@example.com... more
I believe it was recently listed at a very good price. There are some super buys in the Caroline County at the moment due to the number of foreclosures in the area. We have many listed in our Denton office on 6th Street. I would be glad to send you a list of affordable homes including the one you enquired about.
Please contact, Dolores Emerson firstname.lastname@example.org . Lacaze Meredith Real Estate, A Long and Foster Company, 410-479-1200... more