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Home Buying in 32223 : Real Estate Advice

  • All25
  • Local Info1
  • Home Buying17
  • Home Selling4
  • Market Conditions0

Activity 17
Sat Feb 7, 2015
Mark LeMenager answered:
Yes. It's not at all uncommon for the second mortgage holder to mess up a short sale. Not what you want to hear I know, but it is what it is.
0 votes 1 answer Share Flag
Fri Nov 7, 2014
kuhnen answered:
Pretty late, but here's a list of all the major Broward and Ft. Lauderdale builders and communities from newhomesource.com.

http://www.newhomesource.com/communityresults/market-63
0 votes 5 answers Share Flag
Thu Oct 16, 2014
Gary Geer answered:
Candace,
Banks want to eliminate inventory and don't want to wait. Anything can happen with a contingency and they would rather get the property off the books. I do know that some banks will accept a home close contingency ( that's if your home has an offer and you are only waiting to close your deal). Get your home under contact and hopefully pending closure only as a contingency, then make your offer with a home close contingency only.

All the best,
Gary Geer
Results Realty USA LLC
... more
0 votes 12 answers Share Flag
Mon Sep 1, 2014
Cathy Lee answered:
1st question is the seller approved by the lender to short sale the property? Is the listing price approved by the bank? Is there 1 loan only? The key to buying or listing a short sale is the listing agent and the buying agent must be experienced, successful short sale negotiation agents.

New regulations in place for 30 day responses , if the seller's short sale and listing price was approved by the lender, which should be done prior to listing the property.
... more
1 vote 12 answers Share Flag
Sat May 11, 2013
Ashley Stokes answered:
Just to save you some time here is the direct website you need to search the property address. There maybe a small tip of Duval that may be covered but as a whole no.

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Here you can plug in your address your searching to see its eligibility.
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0 votes 10 answers Share Flag
Wed Feb 6, 2013
Brian McLogan answered:
If its not written in te contract them you may walk. If its worth it see if you can negotiate it down and pay the extra you need to finish the sale
0 votes 7 answers Share Flag
Thu Nov 15, 2012
Danbarnes47 answered:
Don't get involved in a short sale with chase bank.. total SCUM-BAGS. liars nd thieves !!!!
0 votes 10 answers Share Flag
Mon Aug 13, 2012
Rosina Eisenmann 904-482-8666 answered:
Hi Ziv. A lot depends on what materials are being used in the construction. Is it a land/home package? Is it your land and you just need a Builder? Concrete or Frame? I work with several Builders in the NE Florida area and would be more than happy to work with you to find the best one suited to your needs. Please feel free to contact me. Rosieflrealtor@yahoo.com ... more
1 vote 7 answers Share Flag
Mon Sep 5, 2011
Donald Price answered:
Shortsale, Your rights are in the purchase and sale agreement. The brother has no say after the fact. I hope you used a Realtor that has training in short sales. The bank accepted your offer, so the closing will take place. If the sellers try to change something, they will be in default. You might have to take legal action to make them perform. Good luck, give me a call or email me with any questions 904-962-8089 dprice@agentlink.net As a State Certified Residential Real Esate Appraiser and a REMAX Realtor, I know the local market.
Don Price USN-RET
SFR, CDPE
REMAX Specialists
... more
0 votes 16 answers Share Flag
Sun Jun 12, 2011
Mark Good answered:
The short answer is NO and NO which is a shock to some people. The real decision maker is the holder of the loan. Usually it is not the bank as they are only the servicer of the loan but almost always the investor who bought the loan and will be taking the loss is the one who decides what he will accept and therefore what his loss will be. Most investors should realize if they don't take a market price offer they will end up in foreclosure and probably get even less but sometimes it doesn't seem they act on that realization.
Mark Good, markgood500@gmail.com Prime Properties of NE Florida, LLC
904-599-5462
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0 votes 13 answers Share Flag
Wed May 11, 2011
... answered:
Alma said it right - keep looking.

I'm sorry to say that if you really want this house you may need to wait until after the bank acquires it and even then there's no guarantee that your offer would be accepted or what the price would be.

Tom
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1 vote 8 answers Share Flag
Sat Jan 8, 2011
Ruth and Perry Mistry answered:
Hi Mau:

No difference at all. If there is 1 lender it will be slightly less than if there are 2 lenders.
By that I mean if a seller has a first say with Citi Bank and a Home Equity or 2nd with Wells Fargo
then it can take 90 - 180 days.

If 1 lender and the Short Sale has been approved 45 - 60 days, if not approved
60 - 120 days.

Perry
... more
0 votes 11 answers Share Flag
Mon Apr 5, 2010
Frank & Sharon Alters answered:
Good Evening Mr./Ms. Tottenham,

If your credit scores are excellent, then yes. At least it was possible a few months ago. We worked with a buyer who I believe got a 95% loan through Compass Bank's lending to professionals program for a $480,000 sales price. Compass has an unusual program that I have not found through other lenders. Give Sue Hicks a call at 904-343-2114 or 904-564-8651.

Another great guy who may also have similar programs is Tom Reber at Wells Fargo 904-318-1058. If Tom says you can do it, he will make it happen.

Any loan under $417,000 is a conforming loan. Anything above that and you are in jumbo loan category and that's a different game, but the buyer of the $480,000 home was a jumbo and was still able to put just 5% down with Compass Bank.

Hope this helps. Please let us know if you need any other help.

Best regards,

Frank and Sharon Alters, CDPE, e-PRO, GRI
Watson Realty
904-673-2308
sharon@teamalters.com



Both of these individuals have great reputations and are very honest. We receive no financial gain from recommending them, but I am happy to pass along their names to help someone.
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0 votes 6 answers Share Flag
Mon Aug 24, 2009
Tita Garcia answered:
It looks like you're asking a hypothetical question, or is it not? Like my fellow Realtors had mentioned, repairs need to wait until after you own the property, otherwise the liability is too high of a risk. The only repairs that needed to be done prior to closing are the lender required repairs for VA and FHA which in this case usually is stipulated in the purchase offer to the seller.

If this has happened and you'renot being represented by a Realtor, I strongly suggest you seek counsel of a Real Estate Attorney.

Hope this helps!
... more
0 votes 5 answers Share Flag
Wed Jul 1, 2009
Jason Lindsay answered:
Hi, Shortsales provide a unique opportunity for buyers these days. The drawback is they can take a long time to close and issues often do come up while you are patiently waiting to hear back from the bank.
In your specific case it sounds like the problem stems from title search issues. A good piece of advice for anyone trying to purchase a short sale is to research the title very carefully. There are good reputable attorneys who can do this for you. It is usually worth every penny because they can alert you to clouds on the title which must be cleared before you can close on the property. In your cASE i WOULD ASK TO SEE THE TITLE SEARCH DOCUMENTS THAT WERE DONE BY THE TITLE COMPANY YOU MENTIONED ABOVE. Then get a real estate attorney to review them to see where things got off track. Hopefully you will be getting a great deal and any extra expense will be justified.

Good Luck, Jason Lindsay, REALTOR
... more
0 votes 5 answers Share Flag
Fri May 1, 2009
Bill Eckler answered:
Nino,

People often question why they need a real estate professional during a transaction....this is a PRIME example of the type of things that can happen when buyers are not well represented.

Our best recommendation is to consult a real estate attorney ASAP to protect your interests.
... more
0 votes 5 answers Share Flag
Sat Apr 18, 2009
jcs2000 answered:
The larger question is why you would want to sink money or purchase a property with mold and a leaky roof. There are plenty of bargains in this market that have neither issue. I would be very careful as most REO are sold as and you could be stuck with a lemon, especially if other problems become apparent after the sale completes. ... more
0 votes 4 answers Share Flag
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