Phil Fowler

MS,

The Listing agent is representing the seller of the property and their interests. You can use them but it is better to be in a Single Agency Relationship with another agent. If you hire a Buyer's Agent, then they will work on your behalf and represent you.

As a buyer's agent it is important to write the offer to the buyer's advantage.

Purchasing real estate is a big endeavor and It is to your advantage to have someone negotiating on your behalf not the sellers.

Hope this helps. If you need my assistance with your real estate needs, please contact me.

Kind regards,

Phil Fowler
Keller Williams Realty
813-401-8078
Phil@PhilFowler.com - Tue Jun 30 2009, 05:55

Steve,

75 days is not long enough for the lender to approve; 4-6 months can be more realistic and there may be more than 1 lien holder on the property.

Once the seller has signed and accepted the offer, the property is to be moved from "active" to "pending" according to our MLS rules".

I insert clauses into the contract to make sure this happens.

Keep in mind, that the listed price of the property may not be what the lender will accept. The listing agent may or may not have listed the property at a true market price.

Remember that the listing agent is representing the Seller of the property.

Be prepared for weeks of no information coming forth from the lender. If you can not be patient with the process, and it is a process, I would suggest you look for non distressed properties.

I hope this works for you. I have lived in the area since 1993 and I still think it offers great value.

Kind regards,

Phil Fowler
Realtor e-PRO TRC ILHM
Keller Williams Realty
813-401-8078
Phil@PhilFowler.com
http://www.PhilFowler.com - Sat Jun 27 2009, 06:54

Nicole,

I suggest you call a lender and discuss your financial situation with them first. There is always the possibility of
the Seller paying your closing costs. However, without knowing what you truly can afford it is difficult for me as a real estate professional to advise you.

Once you have know where you stand, then you can start looking at your options e.g. Seller financing etc.

Hope this helps you.

Phil
Phil Fowler Realtor
Keller Williams Realty
813-401-8078
Phil@PhilFowler.com - Wed Jun 24 2009, 12:19

The website is just advertising the fact that the owners of the property are delinquent on their mortgage. Unfortunately, it is not offered for sale on the MLS at this point.

Phil Fowler
Keller Williams Realty of South Tampa
813-401-8078
Phil@PhilFowler.com - Mon Jun 15 2009, 06:20

Your question has many facets to it.

First of all, unless you have defaulted on the loan or can prove hardship in paying your mortgage, the lender will probably require you to pay the difference that is owed on the property from the sale. They could amortize the amount.

Have you done a market analysis to determine what the monthly rent is?

Without seeing the property it is very difficult to determine what is the best course of action for you. Look at it this way, ..... if you don't test drive the car, you will not know if it will be a reliable vehicle.

Hope this helps.

Phil Fowler
Keller Williams Realty of South Tampa
813-401-8078
Phil@PhilFowler.com - Mon Jun 15 2009, 06:04