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Foreclosure in Greenfield : Real Estate Advice

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  • Local Info1
  • Home Buying8
  • Home Selling0
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Activity 4
Mon Apr 30, 2012
Lloydprogroup answered:
Here is another thing to think about from the home insurance perspective.

Homes that have mold claims that were turned into their insurance company MAY be uninsurable in the future.


Contact your local insurance agency for questions about a specific home.

Think very carefully BEFORE buying a home with known mold issues.

Lloyd Pro Group | Nationwide Insurance
2675 Breckinridge Boulevard #100, Duluth, GA 30096
(770) 497-1200   (770) 497-8721 (Fax)‎ lloydprogroup.com
http://www.lloydprogroup.com
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Sun Jan 25, 2009
Debby Thompson answered:
Jeff we are seeing many homes that are on the market for a long time. Some homes because of the repairs that are needed you have to pay cash for the home. So someone that is coming into a home like this is going to want to know that the home will be worth the repair cost and have the money to work on the home. At one time FHA had a program where you could get a loan for repairs but you had to use contractors to do the work. It had to been done through a place like Home Depot. The lenders want to make sure that when it was done it was done right. You could not do the work on the home. I am not sure if there is still program like is any more. I know about it before the big shake down on the banks. You might want to talk with a loan officer and see if they still have that type of program available. They would appraise the home with the improvements that needed to be done. But the home could not have basement issues or roof issues more of an interior issue. Nothing major. ... more
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Wed Aug 13, 2008
Debby Thompson answered:
You have the right to do inspections and any testing you would like on any property you purchase in Wisconsin. However on an ROE property the bank may not be willing to do any repairs. You should never buy a property you have not done an inspection on. The buyer pays for any test and inspection except for well and septic. All REO properties are listed as is in Wisconsin. You would have to write in an offer that you want an inspection and list any testing that you would want. This can not be done after the offer is excepted. This is an inspection contingency. ... more
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Fri Aug 8, 2008
Shane O'Gorman answered:
1. I would say comps are a fine way to determine value but have nothing to do with how much THIS particular seller is asking for the home. Comps in the case of a REO apply in the same way.. you dont know how much money the bank is expecting.
2. If you are working with an agent you shouldnt be looking at houses you cant afford.
3. I agree with wholy and this should be the main determing factor. what are you willing to pay for the house? Before submitting an offer the agent should go over with you and ask if this is the highest amount you would be willing to spend and risk losing the house. If its not then either take the chance that someone puts in a stronger offer or you make a stronger offer yourself. You cant count on anything.
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