Michael Krotchie

Hi Crystal,

Tonje nailed it right on the head, tax lien properties aren't going to be fast at all. I would second the suggestion for looking at bank owned homes but if your friend isn't going to seek traditional financing (pay cash) then pretty much any purchase can be accelerated. - Yesterday, 07:11

Hi Gail,

SPDS stands for - Seller's Property Disclosure Statement
CLUE stands for - Claim Loss Underwriting Exchange or Comprehensive Loss Underwriting Exchange (depends on the state)

A SPDS is something that is filled out by a homeowner where they disclose any issues they have had with the house, or issues that they know about that were disclosed to them by a previous owner. Some examples would be: a leaky roof, broken window, cracked drywall, etc. The SPDS form is several pages long and asks very specific questions so if they owner has any knowledge they are required to disclose it. The prospective homebuyer then has a change to review these SPDS.

The C.L.U.E. report provides a five year history (sometimes longer) of losses associated with an individual and his/her personal property. It is basically in place to show to the prospective homebuyer that the house is insurable (e.g. hasn't had major issues in the recent past that would cause home insurance companies to not offer coverage).

In you're question I'm going to assume that you are speaking about bank-owned properties; many times the property description reads as "no SPDS or CLUE provided." SPDS are usually not provided because the bank/lender never actually lived in the house and therefore they can't offer any insight as to the condition(s) of the house. The same verbiage is often used for investment properties or rentals where the owner doesn't actually occupy the property.

CLUE reports must be ordered by the seller and if there is no CLUE report provided I would writing a clause into the contract that essentially states that a CLUE will be provided by a certain time (well before closing); if the home is not insurable most buyers wouldn't want to buy.

Hope this helps! - Wed Jul 23 2008, 09:15

Hi Gail,

The best time of year to purchase a home is whenever the best time is for you! Typically the summer season is when the real estate market sees the most activity but that can be attributed to several factors; end of school season, job relocations, etc.

Trying to time the market is pretty much impossible especially considering what we've been experiencing these last few years. Also keep in mind that you should also be watching interest rates (if you plan on financing a home) in addition to home prices as they both play a pivotal role in the home purchase process.

Best of luck! - Mon Jul 21 2008, 11:48

Hi Mona,

As other posters below have already mentioned, speak with the managing broker of the company and try to work things out; many times a simple switch to another Realtor in the office will make everyone happy. If that isn't an option, then ask to be released from the buyer brokerage or listing agreement.

They will understandably try to keep your business but if push comes to shove they will probably let you out without any problems. I hope you find a Realtor who suits your needs! - Mon Jul 14 2008, 17:01

Hi Cleo,

Good to hear you're considering buying in Tucson. I just ran a quick search for the 85716 zip code with the criteria you gave and 18 results came up (I am including a link to the Tucson MLS) below so you can check for yourself.

As far as a strategy, I would say information is king. Find an experienced, helpful Realtor, one that you get along with, and learn as much as you can about the neighborhoods, comparable sales and the homebuying process.

As far as tips on neighborhoods, it really depends on what kind of feel you would like. For a home near amenities and within walking distance of many things consider living near El Con Mall. You could also look near Himmel Park which would put you near the edge of the University.

Hope this helps! - Mon Jun 30 2008, 10:37