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- 55 Answers
- 1 Best Answer
- 9 First Answers
- 7 Useful Answers
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About Me
As a successful real estate investor and Realtor®, my focus is to assist buyers (investors, first time homebuyers, second home-buyers, relocations...etc) and help them find the best deal that matches their real estate needs.
My area of expertise is working in the foreclosure arena with REO/ bank owned properties, pre-foreclosures, distressed sales, fix and flips, and rental/ investment properties. I locate low LTV investment properties that have positive cash flow and allow my buyer clients to leverage their money with minimal down payments and low out of pocket expenses.
As for my seller clients, we work together as a team in preparing the home for sale to allow for the shortest time on the market with the highest sales price potential. With the ever so quickly changing real estate market, my ability to analyze the market allows me to effectively update my seller clients about were the market is heading. This has saved past clients thousands of dollars by being able to get their home to the right sales price number before their competition does and result in a successful sale.
Our current Scottsdale and Phoenix metro real estate market is ripe for investments. If your desire is to purchase a substantially below market home or rental/ investment property and don't know where to find them, look no further, you have found the right agent.
My area of expertise is working in the foreclosure arena with REO/ bank owned properties, pre-foreclosures, distressed sales, fix and flips, and rental/ investment properties. I locate low LTV investment properties that have positive cash flow and allow my buyer clients to leverage their money with minimal down payments and low out of pocket expenses.
As for my seller clients, we work together as a team in preparing the home for sale to allow for the shortest time on the market with the highest sales price potential. With the ever so quickly changing real estate market, my ability to analyze the market allows me to effectively update my seller clients about were the market is heading. This has saved past clients thousands of dollars by being able to get their home to the right sales price number before their competition does and result in a successful sale.
Our current Scottsdale and Phoenix metro real estate market is ripe for investments. If your desire is to purchase a substantially below market home or rental/ investment property and don't know where to find them, look no further, you have found the right agent.
My Q&A
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James Wehner's Answers (55)
James Wehner answered:
Absolutely! There are many factors that determine how much you can negotiate, but if there has been much movement of new homes in their community, the builder will be will to negotiate to make the sale. There would be more room to negotiate if the home is either a spec home or nearly completed where a buyer failed to perform.
Best advice would be to find a competent REALTOR that understand how the new home builders operate and make sure you visit the community for the first time with that REALTOR.
Good luck.
Best advice would be to find a competent REALTOR that understand how the new home builders operate and make sure you visit the community for the first time with that REALTOR.
Good luck.
James Wehner answered:
Something to keep in mind is, are there 2 deed of trusts on the property? If so, are they the same lender or not? Most issues with short sales not being approved are because the first and sencond lenders don't agree on a sales price.
To answer your question, first ask the listing agent where are at in the process. Have they started negotiating with the lender(s) yet. Try to feel around for a price where the bank may entertain an offer. Also, are the owners behind on their payments? Are they close to the trustee sale date?
Those are all important questions to ask to determine where you should come in with an offer.
If you need any other short sale/ bank owned negotiating tips or comparable figures for any prospective homes, feel free to reach me at: http://www.jameswehner.com
Good luck!
To answer your question, first ask the listing agent where are at in the process. Have they started negotiating with the lender(s) yet. Try to feel around for a price where the bank may entertain an offer. Also, are the owners behind on their payments? Are they close to the trustee sale date?
Those are all important questions to ask to determine where you should come in with an offer.
If you need any other short sale/ bank owned negotiating tips or comparable figures for any prospective homes, feel free to reach me at: http://www.jameswehner.com
Good luck!
James Wehner answered:
In my experience I have been told that if the HELOC was used for the purpose to improve the home, then the lender may be more forgiving. However, if the HELOC was used for other purposes such as consolidating debt or purchasing personal property, then the situation you described would be true.
There is no guarantee that the 2nd lien holder will not 1099 your client. You should be able to negotiate the 2nd lender to write off most if not all of the loan amount, depending on the 1st loan amount and market value. It the 1st lender proceeds with the trustee sale, there is a good chance that the 2nd will get wiped out anyway.
It would be best to have your client speak with their accountant and attorney regarding their financial decisions.
Good luck!
There is no guarantee that the 2nd lien holder will not 1099 your client. You should be able to negotiate the 2nd lender to write off most if not all of the loan amount, depending on the 1st loan amount and market value. It the 1st lender proceeds with the trustee sale, there is a good chance that the 2nd will get wiped out anyway.
It would be best to have your client speak with their accountant and attorney regarding their financial decisions.
Good luck!
James Wehner answered:
The lender needs to be in contact with trustee about what is going on. I've seen this happen many times where the short sale is in the works or even completed and the trustee sale still happens. There is no guarantee as to if the lender will choose to postpone the sale or not, however they most cases do. Do your best to stay in contact with the lender as well as the trustee as you approach the sale date.
Good luck.
Good luck.
James Wehner answered:
Specialties
Foreclosures, trustee sales, residential investment properties, representing buyers to find them a home that matches their wants and needs at a great price, representing sellers to get their home sold, not just listed for sale.
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