Keep in mind that banks are looking to get as much money back as possible--you can make whatever offer you wish, though not guaranteed it will be accepted---be informed--look at recently sold similar properties in the immediate area--factor in expensive repairs if any and make a determination as to a fair offer, generally banks accept the best offer with the best terms. Keep in mind that if a property is priced on target or slightly below today's market multiple offers may come to play.... more
Your agent can best advise you--when buying any property it is highly advisable to have an agent looking out in your best interest--acquiring a pre-approval letter for any property purchase will not harm your credit, and your loan officer can best advise you in that respect--if you haven't visited with any qualified loan officer(s) yet, do so, you need to know what your budget can handle as well as your credit score.... more
If you foreclose on one property then the lender cannot put a lien on another property because each property is different from each other. When you get a loan, they can take away only that property if you dont pay the mortgage.
Did you try for loan modification or short sale? You can avoid foreclosure by any of these option. Contact a local short sale expert real estate agent to discuss about short sale and also consult with CPA or tax attorney for any tax related questions.
Certified Short Sale Specialist... more
I can help you find information on these and other properties you might be interested in. Call me, at 305-609-8408, and we will discuss my findings.
Thank you for your interest,
EWM Realtors... more
Hi Avi, if the home is currently on the market and you are making a short sale offer and thereby starting the bank's review process, it can take 3 months (Short) to 5 or 6 months (longer). Anyone planning to buy a short sale should plan to wait 4+- months to be able to purchase (if approved by the lender). Make sure when you write the offer to include any special clauses needed to protect you (as the buyer) in a short sale. They are more complicated and tricky than a regular sale. Use a Realtor know understnads the short sale process well so they can explain it and make sure to look out for your interests.
Good luck and let me know if you have any questions.... more
This is typical of what is happening in today's market. There is just too much inventory for buyers to chose from and yes they do expect to negotiaite pricing. You are getting activity on the home which is good but no offers. That would indicate that pricing is an issue. Buyers today need to perceive value before they will make an offer. With no perception of value they will just move on to the next house.
Do you know how many homes are for sale in your immediate area? If so how are they priced?
In today's market you need to price your house below the market from the beginning, because to try and play catch up in this market is not a wise idea. There are homes being listed for sale everyday. You want to be ahead of the pack, not stuck in the middle.
Good luck and be patient.... more
I'm not in Miami, so I can't comment on your market there and what has historically proven most effective for the Miami market.
I can tell you this, though, the most effective 'advertising' for homes in my experience as a Realtor has always been the MLS. There simply is no better exposure.
Honestly, print advertising, unless it is in a specialized, targeted publication (i.e, for high-end homes), has usually proven a waste of advertising dollars.
Because today's consumer is so tech-savvy, and the majority are now performing their home searches online, advertising on sites like Zillow and Trulia can obviously do no harm in getting your home sold (though, with Trulia, advertising a home for sale is not an option for FSBOs), however, in addition to that, if you don't already have your property on the MLS, I strongly urge that you get it on there, either by listing with a full-service agent, or, at the very least, with a flat-fee listing service if you wish to give it a go by owner.
And hopefully a Realtor from your market will chime in here to offer up their expert advice for your area....
Good luck!... more