Carolyn Giandonato

Valori-
Give me the MLS # (begins with 2007 or 2008) and I will find out what the story is.
Good question!
Carolyn Giandonato
239-243-4082 - Wed Nov 5 2008, 07:14

At one time, it was MAYBE 1 out of ten that actually closed. The statistics have gotten better, but not by much. Your second questions is harder to answer. By list price, do you mean what it was originally listed at, or the price it came down to when it finally got an offer? Alot of agents list short sales at unrealistically low prices to generate offers (not bids). Then the bank crunches their numbers, looks at a BPO, shuffles the papers a little, and then comes back with the amount they are willing to take if all other criteria are met. The longer it takes for the bank to respond, the more likely the buyer will walk as the market is still declining. Once the bank comes back with their number, the buyer either accepts it or walks from the deal. There is no counter offer to the bank's counter offer.
If you have the time to wait (4-8 weeks typically) than YES, they are worth making offers on.
As for closing time, if the bank accepts your initial offer, the deal can close in 1-3 weeks.
Hope this helps.
Carolyn Giandonato - Sun Oct 26 2008, 09:21

Terrence-
Log onto http://www.CarolynGiandonato.Listingbook.com
and you can find out all of the info you are looking for.
Good Luck
Carolyn - Fri Oct 17 2008, 03:36

Most likely you will be responsible for the 2008 taxes for the part of the year that you owned the house. Not only that, you might be hit with a judgement from the bank for the difference between what the bank sells the house for, minus the cost of the foreclosure, and what you owed when the deed was given back to the bank. Especially if this was a vacation home or a second home. If it was your primary residence, you might be in the clear depending on the terms of your agreement when you signed the deed over to the bank. Alot of people mistakenly think that the main repercussions of a foreclosure is the black mark on your credit report. Sometimes that is the least of your worries. Another problem could be a 1099 in January for the amount of the debt that was forgiven. And the IRS never forgives a debt, even after bankruptcy. Sorry to be the bearer of such bad possibilities.
Carolyn - Wed Oct 15 2008, 14:15

Hi Ron-
The City of Cape Coral has a pretty good website full of information on everything. http://www.capecoral.net
You can try there, or go to http://www.leepa.org which is the property appraiser's site. After you get to the property address, you can print out a forn for Cape Coral Fees. Print it out and fax to CC and they will return it within 24 hours with up to date info on assessments -- what is owed or if they are paid in full.
As for closing costs, you can figure about 3% of the price. But you can always ask the seller to contribute that. A buyer's agent, like myself, will always work for the buyer, getting your out of pocket expenses down as low as possible.
Hope this helps.
Carolyn Giandonato - Sat Oct 11 2008, 04:24