How Much To Offer On Foreclosed Home All Locations : Nationwide Real Estate Advice

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Ann Ryan, Real Estate Pro in Doral, FL
Ann Ryan answered:
What are the "dangers" of buying a foreclosure property? What questions do I need to ask?
The dangers are too numerous to list, but here's a few highlights:

1) undislcosed liens
2) unpaid bills for electricity, water, taxes, etc. Even if you're not required to pay them ... more
0 votes Share Flag Mon Apr 14, 2014 Home Buying in Bradenton
Ashley Cooper, Real Estate Pro in Temecula, CA
Ashley Cooper answered:
Help buying foreclosure property in Temecula CA
Hi!! I can help!! Please give me a call. My number is 951-514-7854 or you can email me at I have helped numerous home buyers in your same situation. I ... more
0 votes Share Flag Sun Mar 24, 2013 Foreclosure in Temecula
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
So I understand buying a REO/ Foreclosed property is next to impossible as a buyer. Whats the best way to pu ...
Whoever you have been speaking with you should maybe stop. Buying a bank owned home is not hard or impossible, in fact it is pretty straight forward. Once the bank owns it and decides t ... more
0 votes Share Flag Mon Feb 18, 2013 Foreclosure in Austin
Rob Merhaut, Real Estate Pro in Bellingham, WA
Rob Merhaut answered:
Do we have to put up a year's worth of mortgage insurance payments at closing or is there a way aroun ...
FHA requirements for prepaid five years MI are due because of so many FHA foreclosed homes. Can you try a conventional mortgage and pay MI for the minimum period (reappraisal) once you ... more
0 votes Share Flag Mon Feb 11, 2013 Home Buying in 98136
Lanre Folayan, Real Estate Pro in Washington, DC
Lanre Folayan answered:
When do sellers typically lower asking prices?
Just because a house hasnt sold doesnt necessarily mean the price. Though Price is the main reasons why many houses dont sell,its not the only reason. It can be due to lack of PRESENTAT ... more
0 votes Share Flag Wed Feb 20, 2013 Home Buying in Washington
Laurie Chris…, Real Estate Pro in Oak Park, IL
Laurie Christofano answered:
100% list price offer rejected on foreclosure
Chances are it sold for higher than list price; there's fierce competition out there amongst buyers so you may need to be even more aggressive on the next one! Make sure you'r ... more
0 votes Share Flag Thu Apr 18, 2013 Foreclosure in 60624
Michael Hamm…, Real Estate Pro in Suwanee, GA
Michael Hammond answered:
Agent advised to overbid on HUD home. Bank will not approve loan over HUD list amount. We lose out?
Why would you hire an Agent who would advise you to overbid when you do not have the funds to make up the difference should the offer be accepted?
0 votes Share Flag Mon Jul 22, 2013 Home Buying in Dallas
Alan & Micha…, Real Estate Pro in Port Angeles, WA
Alan & Michaelle Barnard answered:
HUD homes..good buys? what are the risks?
HUD homes can be a good buy. I have one under contract right now. My transaction has been going well. Another agent I know also has a HUD home under contract and that transaction has no ... more
0 votes Share Flag Sun Feb 10, 2013 Home Buying in Sequim
Steve and Li…, Real Estate Pro in Roseville, CA
Steve and Linette Quaranta answered:
How to know whether a particular area is worth?
A major reason for working with a realtor/agent that is there to represent your interests is to do just what you are asking. I assume that the reason you want to learn more outside of ... more
0 votes Share Flag Wed Feb 6, 2013 Home Buying in 95747
Dallas Texas, Real Estate Pro in Dallas, TN
Dallas Texas answered:
What are the differences between buying a pre-foreclosure and foreclosure?
No difference between the two(2) it both requires lender approval. Be prepared to wait both of these transactions can take months to close.

Lynn911 Dallas Realtor & Consultant, Cre ... more
0 votes Share Flag Fri Feb 8, 2013 Home Buying in San Antonio
Jawad Fawaz,  in Los Angeles County, CA
Jawad Fawaz answered:
Thinking of purchasing a foreclosed/bank owned home or a fixer upper in the Arcadia area...

There are specific properties of what you are looking for in the city of Arcadia. You would need to start looking and getting educated about your first time buy.

Please co ... more
0 votes Share Flag Tue Feb 5, 2013 Home Buying in Arcadia
Ann Ryan, Real Estate Pro in Doral, FL
Ann Ryan answered:
I would like to buy a home in Seminole Fl. How do I find a foreclosed home for a great deal.?
1) If you're looking to live in the property, find a great home.

2) Not all foreclosures are great deals. (See my linked blog post).

3) There can be great deals on short sales an ... more
0 votes Share Flag Mon Feb 3, 2014 Home Buying in Seminole
Michael Cheng, Real Estate Pro in San Jose, CA
Michael Cheng answered:
Can a seller back out of a contract once it's in escrow. San Diego, CA
I'm not sure why a Realtor would get involved with the GFE, as that's usually handled by the mortgage originator. But in this case, the term is self-explanatory as you pointed out your ... more
0 votes Share Flag Tue Sep 24, 2013 Home Selling in San Diego
Thom Colby, Real Estate Pro in Irvine, CA
Thom Colby answered:
I guess when you wait a long time for a short sale approval from the banks you never know?
What is unfair about it ? You made an offer which was accepted by the Seller - BUT - it was CONTINGENT on the Bank approving the amount of the loss they would accept. Short Sales are ... more
0 votes Share Flag Mon May 13, 2013 Home Buying in Irvine
Tiffany Phil…, Real Estate Pro in Elizabeth, CO
Tiffany Phillips answered:
How did Denver become such a strong seller's market?
Denver became a strong sellers market because we have never had a huge explosion of growth like other areas; Florida, Arizona and we don't rely on just one major industry like, many are ... more
0 votes Share Flag Thu May 8, 2014 Market Conditions in Denver
asirois,  in San Diego, CA
asirois answered:
Moving PQ/RB area for 4 yrs. I do not intend to stay , should I rent or buy? 1st time buyer VA Loan 250k rang ...

The first question is what type of home could you be approved to buy, and you could determine this by obtaining a pre-qualification through a VA lender. As a direct VA lender ... more
0 votes Share Flag Sun Feb 3, 2013 Home Buying in San Diego
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Home Inspection. We accepted an offer on our home, and now it is inspection time. The inspector has come up w ...
The two realities are the MAJOR ISSUE, and your inability to fix it:

You, (and the Buyer), have three choices;
Lower the PRICE to allow for the repairs
Sell it As-Is and let the Bu ... more
0 votes Share Flag Fri Feb 1, 2013 Home Buying in Seattle
Joel Jadofsky, Real Estate Pro in Panama City, FL
Joel Jadofsky answered:
I am looking at a bank owned house in need of repair. I was wandering if the ba ... than asking price on a foreclosure? ...
Banks will take less then the price the home is for sale a majority of the time. It really depends how long its been on the market, what shapes it is in and so on. I had a bank foreclos ... more
0 votes Share Flag Mon Jan 28, 2013 Home Buying in Panama City Beach
Jerry Heard, Real Estate Pro in San Diego, CA
Jerry Heard answered:
How can we get our dream home while living far away when the inventory is low and every house gets more than ...
I can understand your frustration, If you are working with a Realtor who really knows what you want they can guide you in the way to make the best offer quickly. Cash does not a ... more
0 votes Share Flag Fri Nov 1, 2013 Home Buying in Carlsbad
Lance King, Real Estate Pro in San Francisco, CA
Lance King answered:
How do I investigate a property for auction before bidding on it?
Let me just say this: I mean no disrespect but the fact that you are asking this question leads me to say buying a property at auction is probably a bad idea for you. Here are some thin ... more
0 votes Share Flag Thu Nov 14, 2013 Home Buying in 93560
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