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08037 : Real Estate Advice

  • All15
  • Local Info2
  • Home Buying6
  • Home Selling1
  • Market Conditions1

Activity 12
Mon Oct 21, 2013
Jerry Barker answered:
I work in and around Hammonton, and work directly with Mortgage reps that know everything about their business, please feel free to contact me and I can help get you on the right path to becoming a home owner again! ... more
0 votes 3 answers Share Flag
Sun Jul 28, 2013
Michael Hoffman answered:
Hi Henry,
Are you referring to 64 Trestle Ave Cedarbrook? That property was converted to business use With the eventual intention to rebuild another home.
0 votes 4 answers Share Flag
Mon Sep 5, 2011
Mary Petti answered:
Dorothy,

Only if the property is listed with an agent can the status be changed on Trulia. If you are tying to sell the house as a FSBO, you cannot advertise it on Trulia anyway.

SO if you have an agent, let them know they have to claim the listing...or they can manually enter the new listing onto the Trulia site. ... more
0 votes 4 answers Share Flag
Thu Nov 18, 2010
tina lobiondo answered:
Hi Nicholas,
Have your investors spoken with any of the local banks? We recommend several including Sun Bank and Ocean City Home Bank. If your clients are looking for a terrific investment property in Hammonton, I have one located at 220 Vine Street, right in the heart of the business district. It has tremendous potential as a restaurant, convenience store, retail boutique or professional office! ... more
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Fri Oct 22, 2010
Nicholas Polito answered:
I know of the house you are referring to. It is a beautiful home with all the amenities. I knew the original owner. It is definitely not an average house, and unfortunately it is off the market. ... more
0 votes 4 answers Share Flag
Wed Oct 20, 2010
Lucy Korzelius answered:
There is an area on Facebook called Marketplace and you can place your listings there.
0 votes 6 answers Share Flag
Sat Jun 20, 2009
Karen W. Salvo answered:
Yes, depending what the Agreement of Sale states. With a short sale, a Buyer should always protect himself by stating a specific timeframe giving Buyer the option to cancel contract. Recommended timeframe is 90 days from expiration of Attorney Review Period.
If no settlement date is stated in the Agreement or there is no timeframe stated, the contract is never expired until bank removes their acceptance contingency with an acceptance or non-acceptance.
Hope this answers your question.
... more
0 votes 6 answers Share Flag
Tue Apr 28, 2009
Victor Kaminski answered:
I think confusion may lie in how John's attorney's usually work by submitting an offer waiting for bank approval before starting attorney review

John said:
"if it is submitted, the attorneys office has to resubmit all the documents again for another person.. time = $ and guess what happens.......
the term "back-up offer" is used."

If this is the case, you should be aware once the contracts are signed by both buyer and seller you've got yourself a fully executed contract and the attorney review period starts counting time wait 3 days and you've got a solid contract or get it to the attorneys within that period to being attorney review and they can send letters back and forth and drag out the review process for a very long time.

Some attorneys will not complete the review process until they get approval from the bank but the good ones will end attorney review and wait for the banks approval as a contingency which must be met just the home inspection and mortgage contingency periods being contingencies. There are pluses and minuses to both approaches but I gotta run and show a house now so.... Later...
... more
1 vote 10 answers Share Flag
Mon Apr 20, 2009
Matthew & Richard Haviland answered:
On Average it will take 90 to 120 days to hear back whether your offer is accepted or rejected in a short sale. If the short sale is already approved it can be much quicker but I would expect to be in the months category to hear back.

Best wishes,

Matt
... more
0 votes 7 answers Share Flag
Sun Apr 19, 2009
John Sacktig answered:
Banks look for the highest offer / best qualified contracts.

The bank usually either says yes, or no and typically there is no counter offer.

Depending on the attorney representing the seller and THEIR practices, decides wether or not you are informed of the descision of yes or no.. or if they accept your offer. My experience is that is if the attorney representing the seller (bank) is prepared to handle the transaction and communication all can go smooth. If the attorneys office is not prepared or uninterested ( as I find most to be) then the deal will just go to the first person that makes an acceptable offer.

Short sales most definately are a good deal... it is a tiring drawn out process, but if you have a good agent that knows how to handle a short sale all can go bumpy smooth. I have seen numerous homes go for 25 -30% off market value.

Find a Realtor that has knowledge.. experience knowledge.. (not late night TV you can buy a home for $300. knowledge) of short sales and the transaction will hav a better shot at surviving.
... more
0 votes 8 answers Share Flag
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