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20886 : Real Estate Advice

  • All11
  • Local Info1
  • Home Buying5
  • Home Selling1
  • Market Conditions0

Activity 8
Thu Jan 26, 2017
K. Lucas asked:
Wed Sep 7, 2016
Jonathan Lahey answered:
Your question was answered hope you get a helpful tips :)
0 votes 12 answers Share Flag
Tue Aug 16, 2016
Jonathan Lahey answered:
Yes, i mean i agree with Tony you can serve a letter or explanation and rest assure things will be fine , Good Luck!
0 votes 2 answers Share Flag
Sat Sep 13, 2014
Audrey Felts answered:
Were you currently working with a Realtor? If you are not, I am glad to assist you and answer any questions you may have. I can put you in contact with one of my preferred lenders who can discuss options available to you for financing this home. I always suggest 'shopping' lenders, as different banks offer various programs. Do you research the comps on your own? I am happy to run my own comps on the property. Feel free to contact me so I can better assist you. My contact information is in my profile. I look forward to speaking with you soon. ... more
0 votes 1 answer Share Flag
Thu May 23, 2013
Greg Myers answered:
I "Sold" a town home which was condemned by the City of Gaithersburg 4 years ago which had been foreclosed on. The City of Gaithersburg was leveling daily fines which included legal issues to the bank and the bank paniced. The bank just wanted to unload the house. The bank sold the town home for $42,000 to an investor of mine, he rehabed the home which I resold the home for $214,000. Sweet.

There may be an opportunity here for you.

Greg Myers
RE/MAX Realty Group
... more
1 vote 4 answers Share Flag
Fri Jun 25, 2010
Heather Peck answered:
Many REO agents that handle a lot of REO listings have a team. That means you will be dealing with an assistant, who is likely also to be a licensed agent. They can answer questions about the listing, offers, status, etc.

Most banks don't want to see every offer that comes in. The asset manager often directs the listing agent to market the property for several days (from 2 days to 2 weeks - depending on if they have a first look buyer or owner occupant rule). Then they will counter that offer. Until the counter is accepted, the property is not in contingent status. So if they have already submitted the offers to the lender, the lender has chosen one to counter and is waiting for the buyer's reply, the property will remain in active status in the MLS even if they are no longer taking offers.

Its a common practice.
... more
0 votes 7 answers Share Flag
Sun Dec 20, 2009
Piero Marinucci answered:
As the others have said, the bank will order an appraissal to figure out the value of your property. That said, anytime you want sales data for yours or any other neighborhood in the DC Metro Area and beyond, go to:

and register for totally free data (active and sold) from the MLS.

That way, once you receive your appraisal, you can double-check their work. Best of luck to you.
... more
0 votes 5 answers Share Flag
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