Edith Smith

I'm a:

Real Estate Professional

3 Answers
1 First Answer
1 Useful Answer

Report this profile

My Q&A View all >>

Edith Smith's Questions (0)

Edith Smith's Answers (3)

foreclosure costs

Asked Sat Sep 6 2008, 08:17 by Susie - District of Columbia - Foreclosure - 3 answers

Edith Smith answered:

In response to your question, the costs vary for each bank based on the property, administrative and legal costs to hold the property. Some banks level deficiency judgements or issue 1099 IRS actions against the property owner. However, as I understand the federal government is aiding home oweners until Dec 2009 by waiving these actions by lenders against home owners. - Mon Sep 8 2008, 05:45

My house has been on the market for approx 40 days, we had a contract and it fell through.

Asked Wed Jun 11 2008, 12:21 by Gabismama - Chevy Chase - Home Selling - 4 answers

Edith Smith answered:

Sorry you have not sold your home. In this market, the price is key to finding the right qualified buyer. If you have to sell, I agree you must have a serious price reduction conversation with your Realtor. If you do not need the money right now, consider a rent to own contract. Because of the market, I would not recommend any major construction. - Thu Jun 12 2008, 07:54

My husband and I were set to close on our first house next week. However while out of the country, we learned

Asked Sat May 17 2008, 13:32 by Elisa - District of Columbia - Home Buying - 4 answers

Edith Smith answered:

Elisa-You have a contract that states terms that are binding on both parties. I am not an attorney, but all owner debts and liens must be satisfied during the sale. The owner must provide clear title for the transaction to complete. I would not recommed you change your offer. If the owner does not have enough money with the proceeds, then the owner must make up the short fall or request a short sale from their lender. Let the owner an the lien holder work it out. - Mon May 19 2008, 07:42

View all Edith Smith's Questions & Answers >>

RSS