Foreclosure in Lakewood>Question Details

Jennifer Lea…, Home Buyer in Long Beach, CA

How do u go about getting a 30 day or less escrow? We are hoping to get in by the end of the year, we need

Asked by Jennifer Lea Reynolds, Long Beach, CA Thu Oct 23, 2008

the tax write off sooo bad!! Will help me for our next taxes? We are waiting as we speak.... for an answer we placed a good bid,and hope they accept, but there is alot of competition here in CA!

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Hopefully you have connected with a lender and have been preapproved subject to finding a property. If that is the case you can write you contract to close in 30 days or less. Good luck.
1 vote Thank Flag Link Thu Oct 23, 2008
Pam Winterba…, Real Estate Pro in Danville, VA
Jen, Most banked owned properties usually close within 30 days, this appears to be the norm in this market.As far as your tax advantages for the next year, you should proably ask your accoun tant what is the best tax strategy. If I can be of any assistance to you please feel free to contact me via email
0 votes Thank Flag Link Wed Mar 18, 2009
Hi, Jen:

You just need your Realtor to negotiate that for you.
Web Reference:
0 votes Thank Flag Link Sat Oct 25, 2008
Hi there Jen if you placed an offer on a foreclosure the banks are responding faster than in the past. So I would consult with your lender to amke sure the loan will still be avaialable. If you made an offer already ask your agent to contact the lisitng agent to find out the status. The agent needs to persistant and diligent in this area.

Bes Of Luck

Kind Regards
Michael Barron
Realtor /MBA
First Team Real Estate
(714) 552-6817
0 votes Thank Flag Link Fri Oct 24, 2008
We are actually closing more transactions now than last year at this time. The main reason a transaction closes late is financing. If I were you, I would dual app my loan with at least one direct lender.
0 votes Thank Flag Link Thu Oct 23, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
If you files are correct for lending it takes approx. 30 days closed is in the contract.
Web Reference:
0 votes Thank Flag Link Thu Oct 23, 2008
Just make that as one of the terms in your contract.
This is very standard; I don't understand why your realtor didn't explain it to you.
0 votes Thank Flag Link Thu Oct 23, 2008
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