132 views
Marla Vail
- 2 Answers
Locations:
Profile Link:
Experience:
Real Estate Saleswoman for O'Brien Realty
March 1997—present
Real Estate Saleswoman for Century 21 New Millennium
January 2009—present
Specialties:
Certified Residential Specialist, with emphasis on residential resale homes.
Certified Distressed Property Expert, consultation services to determine what ... show more
Certified Distressed Property Expert, consultation services to determine what ... show more
About:
I am a full time agent licensed in both Maryland and Virginia. I came into the real estate business because I saw a need for agents who would give their
... show more
Marla Vail answered:
Michelle,
There are variables. First, on a short sale the seller first must accept your offer. If the seller accepts the offer, many times a bank will pay some buyers closing allowance, however, it depends on the type of loan the owners getting the short sale have.
If the owners have an FHA loan, then the short sale will not be accepted by the bank. FHA short sales do not pay any of the new buyers closing costs.
You may want to check with your lender as you may still be able to offer less, and have your lender finance your closing costs, so long the property can appraise for your financing amount.
See the FHA pre- foreclosure guidelines below.
There are variables. First, on a short sale the seller first must accept your offer. If the seller accepts the offer, many times a bank will pay some buyers closing allowance, however, it depends on the type of loan the owners getting the short sale have.
If the owners have an FHA loan, then the short sale will not be accepted by the bank. FHA short sales do not pay any of the new buyers closing costs.
You may want to check with your lender as you may still be able to offer less, and have your lender finance your closing costs, so long the property can appraise for your financing amount.
See the FHA pre- foreclosure guidelines below.
|
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
|
|
|
Founding members are a small number of participants who submitted content at launch of Trulia Voices to kick off community discussions.
|
|
|
Your question:
Max. 200 characters
Name:
Email:
|
|
Share profile
Contact Marla Vail
Marla Vail is a member of Trulia Voices:
Get the inside scoop on your area and home buying and selling.
Ask and answer questions about real estate.
Build your profile and contact home buyers, sellers and agents.
Report this profile
|
|
|
|
|||||||||||
|
|
|
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback