Home Buying in 21705 : Questions & Answers

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Ron Thomas, Real Estate Pro in ,
Ron Thomas answered:
Is this considered buy and bail or can we short sale?
One of two things;
Either you lied to your Lender about your finances,
Or, your Lender turned a bind-eye to your situation.

This is the kind of thing that started the whole thing 4 ... more
0 votes Share Flag Wed Jan 21, 2015 Home Buying in 21701
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
Is it worth putting in a Backup offer on a short sale?
It could be a waste of time.... They can only send one offer to the bank for approval. The sellers bank first has to approve the seller to even complete a short sale and then has to app ... more
0 votes Share Flag Wed Mar 13, 2013 Home Buying in Frederick
Elizabeth Bo…, Real Estate Pro in Cambridge, MA
Elizabeth Bolton answered:
What steps should I take in order to buy a place by next summer?
Hi Leeann ~ I would start visiting open houses and keeping tabs on things online in the areas you're interested in. You may meet an agent you'd like to work with at an open house - it' ... more
0 votes Share Flag Tue Dec 31, 2013 Home Buying in Frederick
Jessica Hood…, Real Estate Pro in Gambrills, MD
Jessica Hood & Laura Roskelly answered:
What if the value that the bank obtains (BPO) is a lot lower that our offer?
Your banks appraisal is all that matters on value. They won't see or care about the current lenders BPO.
0 votes Share Flag Thu Sep 27, 2012 Home Buying in Frederick
jspivey818, Real Estate Pro in Frederick, MD
jspivey818 answered:
Can anyone tell me what happens after the bank does a BPO?
The bank is trying to obtain value on the property. Typically, the bank will accept or counter the contract after they get the BPO back. This would probably happen within 45-60 days. ... more
0 votes Share Flag Tue Feb 12, 2013 Home Buying in Frederick
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
Hi all, Is it normal for a short sale under contract to still be shown?
Yes, normal for any house under contract with contingencies on it to be shown and a short sale has a contingency that the bank MUST approve the sale which is a HUGE contingency. Has the ... more
0 votes Share Flag Fri Sep 28, 2012 Home Buying in Frederick
Kris Paolini, Real Estate Pro in Seattle, WA
Kris Paolini answered:
I just got word from my Realtor that the bank did the BPO. What happens next ? On the contract, the bank has 45 days to respond.
If your real estate agent used the MAR contract and MAR short sale addendum, there is nothing that speaks directly to the BPO. As a buyer, you give the bank a specified number of days ... more
0 votes Share Flag Thu Mar 20, 2014 Home Buying in Frederick
C.quinones, Home Buyer in Frederick, MD
C.quinones asked:
Thank you all for answering my questions. Most of all for answering them quickly!
0 votes Share Flag Mon Sep 17, 2012 Home Buying in Frederick
Richard Iaro…, Real Estate Pro in Gambrills, MD
Richard Iarossi answered:
I didn't think so, so I asked my Realtor and she told me that her real- state cashed it. She asked if that was okay with me.
If you submitted an offer to purchase a home in Maryland, the earnest money deposit has to be deposited by the Broker when the contract is ratified. In the case of a short sale, the off ... more
0 votes Share Flag Tue Sep 18, 2012 Home Buying in Frederick
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
Now the Realtor Agency has cash my earnest check and still no word from the bank on whether or not they have accepted the offer on this short sale.
Hi C.quinones,

I'm not sure about MD, but in CA it is NOT the normal procedure. The earnest money deposit check is not cashed until you have WRITTEN approval from all lenders involv ... more
0 votes Share Flag Fri Sep 21, 2012 Home Buying in Frederick
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
Foreclosing? Oh no! What happens then? Thank you all for your responses. I have a home inspection today. I signed all the paper work and just wai-
Your other post said you were putting an offer on a short sale and it was accepted. it was accepted by the seller but the bank has to agree and that can take MONTHS. If the bank is push ... more
0 votes Share Flag Thu Sep 6, 2012 Home Buying in Frederick
Charlotte Sa…, Real Estate Pro in Columbia, MD
Charlotte Savoy answered:
hud accepted an offer, I reviewed hoa docs and decided to cancel. they won't return earnest money. Legal?
I would suggest asking for HUD's rejection of your EMD in writing? If you had a contingency in the contract for a review period of the HOA docs and didn't waive your right to ... more
0 votes Share Flag Sun Feb 12, 2012 Home Buying in Frederick
Darren Ahearn, Real Estate Pro in Frederick, MD
Darren Ahearn answered:
How large is Cannon Bluff? How many homes at buildout?
Hello Beth-
Thanks for your question. Cannon Bluff is a small community of homes in Frederick- Ryan homes is building these. Let me know if you would like to go visit this area ... more
0 votes Share Flag Fri Nov 18, 2011 Home Buying in Cannon Bluff
Patty Smith, Real Estate Pro in Frederick, MD
Patty Smith answered:
I'm looking for an agent that works with RE investors. Must be able to think differently & not be embarrassed to submit low offers.
Hi Michael:

I work on a real estate team that works with investors. I would be very happy to let you know how we work. Please e-mail me at pattys@longandfoster.com.

I look ... more
0 votes Share Flag Sun Aug 7, 2011 Home Buying in Frederick
Christy L. F…,  in Bowie, MD
Christy L. Fear answered:
I'm shopping around for the best rate on a 30-year fixed FHA loan. Do I have to apply for mortgages with multiple lenders to get accurate rates?
No you don't....Tenacity is a brokerage firm and I am able to do all of the work for you...you really don't want to have a ton of people pulling your credit etc...please give ... more
0 votes Share Flag Tue Jun 21, 2011 Home Buying in Frederick
Staci Johnson,  in Virginia
Staci Johnson answered:
Is there an HOA or Condo fee for this development?
There are condo fees associated with these properties. They range in price depending on the individual home. Were you interested in seeing one of the properties?
0 votes Share Flag Wed Jul 6, 2011 Home Buying in Commons of Avalon
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
I was looking to buy a commercial condo in Frederick, MD, however we found that the claimed sq ft was inflated. Can they legally do it?
You would need to prove they did with teh intent to harm, if you purchased it and proved it you may have a case, but if you only are looking at it, you have not been harmed yet. Unforta ... more
0 votes Share Flag Tue Jul 13, 2010 Home Buying in Frederick
Kirk Craig,  in Plainfield, IL
Kirk Craig answered:
Buying a home in 6 months, what should I be doing right now?
You should really talk to a mortgage professional. They will be able to help you determine what you can afford. Plus if there are any outstanding items you need to clear up during the 6 ... more
0 votes Share Flag Tue Jun 22, 2010 Home Buying in Frederick
Jenifer Mack…,  in 17268
Jenifer Mackley answered:
my exwife will buy a house, i want to help her with my money in the 401k.used my exwife single name
Hello,
That should not be a problem at all. What she would have to do get a gift letter for the lender stating you will be providing the funds. I am a realtor licensed in Md. And Pa. I ... more
0 votes Share Flag Fri Jan 15, 2010 Home Buying in 21702
Jon Tucker, Real Estate Pro in Columbia, MD
Jon Tucker answered:
I want to view 6514 dayton court today...is that possible? pls respond asap
Judith,

Jon Tucker with RE/MAX 100. Did you mean Daytona Court rental for $1,400. It says 24 hour notice which usually means it has a tenant currently. I also put the listing in ... more
0 votes Share Flag Wed Mar 4, 2009 Home Buying in Frederick
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