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Home Buying in 98102 : Real Estate Advice

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  • Home Buying5
  • Home Selling2
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Activity 5
Tue Sep 13, 2016
Kary Krismer answered:
You really need to talk to an attorney about your specific situation, but deficiency judgments are rather rare in Washington assuming the security document was a deed of trust.

If there is a deficiency judgment, you will likely be responsible for some costs, primarily attorney fees and other foreclosure costs. But typically your responsibility for costs ends at the point of the foreclosure sale, not the later sale where the bank lists the property using an agent.

Again you need to talk to an attorney. Your being liable for a deficiency will depend on specific facts, including your income/assets and type of loan (e.g. USDA).
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Thu May 7, 2015
answered:
thanks foe the posting ...you sound like you are taking all the right steps .....I am guessing that the type of property you are describing in the area that you describe isnt existing ( unfortunately ) ...correct?

an idea ( maybe ) .....possible co borrower ( in order to incrase income ) and buying power ...this is not an ideal solution but I figured I would mention it ...this could also cause soem of the WSHFC programs to not be eligible ...best of luck
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Thu Feb 7, 2013
Karen Mcknight answered:
Hi KT,

In general, you obviously the mobile home needs to be removed from the land. There may be a company that will remove it for a lesser fee for the scrap value. Being built before 1970, there is hazardous waste mitigation. I would suggest you find a company through Bing or Google. 1-800-got-junk may be able to point you in the right direction.

I would not put a modular home on it, but would sell the vacant land. The vacant land has more value than the land with the mobile home on it, because removing the mobile home is a cost. You could list the home with the mobile on it and discount the price accordingly. Then the new buyer, who may have better resources to handle the mobile home, can take care of the problem.

Or, if you have the resources, build on the land and then sell the improved property. What you build depends on the neighborhood comparable properties and zoning.

If you don't have the resources to build, but have the resources to remove the mobile home, do that first, because it will improve the sales price of the land.

i have worked a lot with developers, investors and builders and would be happy to answer any questions you have, including determing the value of the land. Or depending on the location, I may have a potential buyer.

Warm Regards,
Karen
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Fri Feb 24, 2012
Matthew Steel answered:
I would highly recommend contacting a local, seasoned Real Estate Broker who specializes in short sale and other distressed property transactions. Request proof of the Brokers successful short sale and/or foreclosed closings. There is a special recipe to increase your success on buying and selling short sale and/or foreclosure properties. ... more
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Wed Feb 8, 2012
Daniel Smith answered:
Hi Sharron My name is Daniel Smith broker at Keller Williams if you would like me to check my off market sources( asset managers ) at several of the local banks, as well as what is available on market and what is going to auction in the next few weeks let me know.
I would be happy to help
Daniel Smith
206-550-1131
daniel.smith@kw.com
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