Foreclosure in Wilmington : Questions & Answers

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Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
Should the buyer be present for home inspections and appraisals?
We would agree that the best scenario is for the buyer to be present for the home inspection. If for no other reason than being able to view the property one more time. The importance o ... more
0 votes Share Flag Thu Mar 15, 2012 Foreclosure in Wilmington
Kai Etienne, Real Estate Pro in Delaware
Kai Etienne answered:
I have looked at several properties, one need vanties in both bathrooms, one needed kitchen cabinets. Can a house pass inspection needing work?
The simple answer is, It will be based on your loan requirements...
If you are paying cash of course no inspection is required at all.
If the seller is "holding the note" ... more
0 votes Share Flag Wed Mar 7, 2012 Foreclosure in Wilmington
Michael Hunt…, Real Estate Pro in Wilmington, DE
Michael Hunter answered:
When should you get a home inspection or appraisal on foreclosure? Will the bank approve a foreclosed property that needs work?
Hello, thanks for your inquiry. The appraisal is ordered through the lender after you are under contract. The inspection period granted by the seller also occurs after you are under con ... more
0 votes Share Flag Wed Mar 7, 2012 Foreclosure in Wilmington
Christopher…, Real Estate Pro in Hockessin, DE
Christopher Pataki answered:
I'm looking for an agent with experience in bank foreclosures in Delaware. How does the process work? Pro and Cons of foreclosures???
Hi Ak39443
Sorry for the delay in responding to your very important inquiry - I was showing several bank owned properties. There are similar but different processes for each of the di ... more
1 vote Share Flag Wed Mar 7, 2012 Foreclosure in Wilmington
Dawn Phillips, Other/Just Looking in Schererville, IN
Dawn Phillips answered:
In a short sale situation, can I make an offer with the stipulation that the seller covers all closing cost? Does the bank ever cover closing cost?
It does not hurt to ask. I have seen the banks agree to closing cost previously. Most cases they will counter.

thanks,

Dawn
0 votes Share Flag Sun Aug 22, 2010 Foreclosure in Wilmington
Ronda Allen, Real Estate Pro in Amarillo, TX
Ronda Allen answered:
I'm about to make an offer on a short sale house. what are the chances that a bank will let a property go for $100k when the balanced owed is?
Banks are countering offers, based on their own determination of fair market value, when they order what we call the BPO (Broker Price Opinion). If you go too low, they will counter-of ... more
0 votes Share Flag Sun Aug 22, 2010 Foreclosure in Wilmington
ChangingStre…, Real Estate Pro in Cary, NC
ChangingStreets.com answered:
I found a foreclosure home for sale but the listing price was different on three different website. How do I know which is correct?
If you don't have one find a good buyers agent with the fortitude to make things happen in with REO brokers. It may take a couple of calls but ask how many foreclosures they have c ... more
0 votes Share Flag Wed Mar 31, 2010 Foreclosure in Wilmington
Global Prope…, Both Buyer and Seller in Philadelphia, PA
Global Property Group asked:
Who is looking for short sale deals? I have ten Wilmington properties that I want to sell. These are all bank approved short sales that require cash purchase and 30 day close. Check them out at my website JPRescue.com
0 votes Share Flag Mon Sep 22, 2008 Foreclosure in Wilmington
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