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Foreclosure in 22101 : Real Estate Advice

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  • Home Buying7
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Activity 2
Mon Oct 19, 2009
Kathy Stark answered:
Marc

You can find out how many liens an Owner has from the courthouse but how much they owe is another story. Their could be just a first mortgage, or more likely an owner has a 2nd mortgage or a line of credit, and there is no knowing how much they have borrowed on that line of credit. Also, the Owner may owe back taxes on the home, he/she may owe fees to the Homeowner's Association. If it is a foreclosure or short sale there may be attorney's fees too.
Why do you need to know how much the seller owes, and/or the number of liens on the home?
More information might better help to answer your question.
Give me a call and we can discuss it further.

Kathy Stark
703-201-9656
kathystark@weichert.com
Weichert, Realtors
Accredited Buyer Representative
Certified Debt Resolution Specialist
Graduate Realtor Institute
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Tue Aug 18, 2009
Andy Krumholz answered:
Hi Marc,

As Glenda mentioned below, the house is already under contract. It was listed at $649,900, and we won't know the actual sales price until it goes to settlement. It likely sold for more then the dollar figure in RealtyTrac though. If you are interested in McLean there are a handful of other properties (a couple of short sales and a couple fo regular sales) that are also under $600k.
As a CDPE (Certified Distressed Property Expert), I do understand and know how to work the process, and have gone through numerous short sales and foreclosures on both the listing side, as well as the purchase side of the transaction.
If I can be of assistance, please feel free to email me at ajkrumholz@yahoo.com.

Regards,
Andy Krumholz, GRI, CDPE
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