Where I am, that's easy. Not sure about your MLS.
On our system, you can search for cash sales, or sales without mortgages. That's not perfect, but it will help identify a lot of purchasers who are buying for cash. Many of them will be investors.
Another way is to look at recent home sales and then screen to include only absentee (non-resident) owners. Most people who buy and then aren't living in the property are investors.
Also, get involved with your local real estate investment club(s). Here's a link to some in Nebraska: http://www.creonline.com/ne.html I see two listed for Omaha. You'll find plenty of investors there.
Sometimes you can flush some out by using Craigslist. You'll get a lot of flakes, but investors do peruse Craigslist. Identify a property or two that would be good for investors. Then put it in Craigslist. Don't get all fancy with the listing. Text and a few photos actually will get more attention, since many investors avoid listed properties.
There are lots of other ways, too. But that should be enough to get you started.
Hope that helps.... more
Ask for a copy of the lease beforehand so you have time to read it over. All leases I have seen are very clear and easy to understand. If you are paying utility bills, it would be a good idea to get the previous year's bills.... more
Every short sale is different, so there really is no "typical" short sale. Expect a longer closing 2 to 4 months minimum. How smoothly it goes, depends a lot on the agents involved. Give me a call if you have further questions.
Work with a good Realtor, one you are comfortable with and one who is working for you. Decide what you want in a home such as # bedrooms, bathrooms, garage space, location, etc. Look at different styles and look in the closets and cupboards - don't be shy, this will be your new home. When you choose a house, be sure to get a home inspection. It is a good investment. Good luck and let me know if I can help.
When making an offer, you can ask for seller paid closing costs, pre-paids and escrows. If it's an fha loan, you can ask for a maximum of 6% of the purchase price. If it's a conventional loan, you can ask for a maximum of 3% of purchase price. If you need clarification, please contact me directly.
Honestly there are a lot of things you can focus on. The easy items are staging have a home stager look at your home to make it show its best. Also deep cleaning - have a company come and clean, clean clean. We tend to get used to our houses the way they are so extra eyes go a long way. Do these things and declutter then have an agent come and look your house over before spending money on big dollar things. Another simple item is paint. It is true neutral colors work best. We tell people that you have to emotionally move out of your house now and realize you are setting the stage for someone else. Get rid of your personal preferences. Hope that helps.... more
How much upfront costs there can be which can include appraisals, down payment, inspections etc. The amount of time it can take to find the right home. Being beat out on a deal. There may be a couple of more, but those things come to mind first.
You can reach me at Fred@elitenebraska.com with any questions you may have.... more
I would suggest talking with your Realtor and your lender about a possible short sale. The bank does not want your house back and they may work with you to get it sold. It will affect your credit score, but not as bad as a foreclosure would. Try to work with the lender before just walking away. Good luck to you.... more
The tenants do have rights, some of which were extended in recent years to cover this specific situation, so it's not a cut and dry answer. They really need to talk to an attorney. Email me directly if you can't find an attorney, I have some people who my clients have used in the past.... more
Sorry, but that happens all the time.
A witness means nothing. Do you have something in writing from the lender saying that a foreclosure would be delayed?
As a practical matter, two different branches of the lender handle loan modifications and foreclosures. The two often run parallel. That is, while the people there are working on the loan modification, other people in another department are working equally hard on a foreclosure. Whichever gets to the finish line first "wins." In this case, the foreclosure people got there before the loan modification people.
Is it legal? Probably. Depends in part on whether the process was under HAFA or HAMP--government programs designed to assist homeowners.
You can contact your state attorney general's office and try to get them involved.
Hope that helps.... more
No it isn't. These are the factors for discrimination:
Discrimination in housing is prohibited by the Fair Housing Act of 1968 (FHA) and its amendments. The conduct prohibited includes discrimination in the sale or rental of housing on the basis of race, color, religion, national origin, sex, handicap or familial status. The Americans with Disabilities Act (ADA) prohibits discrimination against disabled people in commercial real estate matters.
The bank most likely is trying to avoid any type of fraud by selling to the previous owner or anyone related to them. It is a standard practice.... more
There is no exact answer available. The statistics you may see for Days on the Market are not accurate because we can only tell the days on the market for a house that is currently listed.
In other words, if a house was listed previously for 120 days, for instance, and then re-listed by another company and sells in 14 days, the time goes back to zero, andthe Days on Market would show 14 days which is not a true picture. The only way to get a true average would be to do a hand search.
Different home price ranges have different average market times. A home in the $100,000 range generally would not take as long to sell as a $500,000 home.
A full-time, experienced Realtor should be able to give you an "educated guess" based on your area, price range, condition, etc. Hope this helps.
Beth Lube... more
Keep in mind that assessed value has no bearing on market value; therefore review comps with your agent, recently sold similar properties in the immediate area and then make a determination on price; as for any advice needed, since none of us are directly involved, consult with your agent, he/she is your best guide...... more