JON BLANGIARDO

Hi James,

Mark Nardone with Bridge Home & Septic is someone that I have had good success with in the past, and is someone that I would use myself. He's very personable and thorough. His office number is 508-580-0465.

Don't hesitate to contact me if I can be of further assistance.

Good luck!

Jon - Wed Sep 17 2008, 18:53

Hi Danielle,

It's interesting... If you're buying a home below assessed value, that's great! On the same token, if you're buying a home above assessed value, that's also fine. Bottom line, the assessment is not a true indicator of market value. It's typically slow to reflect actual market conditions, and often doesn't even include totally accurate property information... and anyway, it's for tax purposes! What that means is that you can pretty much throw that number out the window when it comes to financing your home. What matters is what the lender is willing to lend- and for that, the bank sends an appraiser. The assessed value shouldn't affect your ability to obtain a home improvement loan aka renovation loan.

If you're looking for a mortgage pro who will get you great rates on a renovation loan- visit my website and click finances. Feel free to contact me if you need anything else!

I hope that helps!! - Tue Aug 19 2008, 10:41

Hi Steve!

I suppose that best way to find out if the offer has been presented is just to ask your agent.....! :-)

But just to give an overview...

From my experience, in current real estate market, there are 2 main ways in which a prospective homebuyer would have to deal with the bank accepting/approving an offer on a property. Foreclosures and short sales. In a foreclosure, the bank is the seller. In a short sale, the owners are the sellers, and the bank needs to approve the offer.

The challenge for you and your agent is that banks can be difficult to deal with.

During foreclosures, the listing agent will likely have a well established relationship with the bank who has foreclosed on the property, and the process should flow smoothly, albeit slower than dealing with your typical homeowner.

On the same token, short sales can become an extended process over a few months. The reason for that is... the bank takes forever!!! In this situation, the agent establishes the market value of the property and pushes for bank approval. Some banks are more organized than others, but the listing agent could end up sitting by the phone and fax machine for hours and hours trying to get through to the right people who can make your deal go through.

If you really love the property and you're getting it for a good price, just relax and wait. Ask your buyer's agent how the process is going, they should be able to give you an idea of where you're at. Often times, short sales are approved, they just take awhile.

I hope that helps! Let me know if I can be of further assistance. - Mon Jul 21 2008, 09:32