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Foreclosure in Chesapeake County : Real Estate Advice

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  • Local Info2
  • Home Buying2
  • Home Selling0
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Activity 14
Fri Jun 3, 2016
Gfulcher2 asked:
Thu Apr 21, 2016
June Buerkle answered:
Do you realize that you are "asking the community" and not talking to Trulia employees?

Check the public records. Most property records are available on-line via the county/city Property Office page. ... more
0 votes 1 answer Share Flag
Thu Apr 21, 2016
Bandtlawnservice757 asked:
Sun Nov 27, 2011
Laurie Spivey answered:
I have several owners that are in your exact situation. Of course, renting with a qualified Property Manager may be your best option. My properties have been renting quickly in the last several weeks, but this situation could change at the end of December. Another option I offer to my owners is to list the property for rent or for sale whichever comes first. I do agree that you must be agressive in pricing this property. Please feel free to email or phone me and I will be happy to run a CMA to advise on what I think your property could rent for quickly, ... more
0 votes 11 answers Share Flag
Wed Jun 22, 2011
answered:
Good morning Rochester,

I'd have to agree with the previous information from Shanna and Bill. I'm not sure if the circumstances would allow for the former boy friend and his new soon to be wife to qualify to refinance on their own which would take the responsibility off of your girl friend and keep it soley on them. This would also allow her to be removed from the deed and title ... more
0 votes 3 answers Share Flag
Mon Mar 21, 2011
Dwayne Moyers answered:
Maryanne and I are Fannie Mae and Freddie Mac Select Agents. That means we sell a lot of foreclosure properties. Both Fannie Mae and Freddie Mac outsource the majority of the sales effort of foreclosed homes to REO asset management companies. Although there are agents who work directly for them. Many of these companies pay agents the standard 3% for their involvement in representing a contract with a successful closure. This is 3% to a buyer's agent, and 3% to the agent representing the REO company, and ultimately the mortgage holder. Assignments usually come with a $2,000 guaranteed commission for homes which have smaller sales prices.

Dwayne & Maryanne Moyers
The Moyers Team
Serving Northern Virginia
Maryanne (540) 379-7359
Dwayne (540) 446-6284
Top 2% of Realtors Nationwide
... more
0 votes 13 answers Share Flag
Sun Mar 13, 2011
Rebecca Thomas answered:
This house expired in March 2010. That listing was a shot sale. Right now it's not back on the market. If you would like me to keep my eye on this one for you, or investigate any other homes, please give me a call. My contact information is below. Thanks.

Rebecca Thomas, Realtor
Keller Williams Realty, Greenbrier
1100 Volvo Pkwy
Suite 200
Chesapeake VA 23320
Direct: 757.383.2070
Fax: 757.410.5864
rebeccathomas1212@gmail.com
http://rebeccathomas.yourkwagent.com
http://www.trulia.com/profile/rebeccathomas
... more
0 votes 3 answers Share Flag
Tue Mar 8, 2011
Danilo Bogdanovic answered:
Luv2bowl,

If someone told you that's the norm, they're embelishing the truth (to say the least). You may be able to get a foreclosure (aka bank-owned property) for about 30 percent below what the market value of that property would be if it were a traditional resale. But once you factor in the amount of money you'll need to fix the property up to bring it up to par, you may see that 30 percent margin whittle away quickly.

Don't believe blank promises like, "Sure! You can get a foreclosure for 30% less!" Like the saying goes, "If it sounds too good to be true, it probably is."

Danilo Bogdanovic
Real Estate Consultant/REALTOR(r)

http://LoudounScene.com
http://LoudounForeclosures.com
... more
0 votes 13 answers Share Flag
Mon Mar 7, 2011
Charles Lewis answered:
We offer a free service to consumers where we provide them with a list of Chesapeake foreclosures and we will also have a "Property Research Program" where you send us an address and we send you as much detailed information that we can about that property.

For the free list of chesapeake foreclosures go to http://www.buychesapeakeforeclosure.com/
... more
0 votes 9 answers Share Flag
Tue Mar 30, 2010
Scott Godzyk answered:
Joy you have to negotiate with both mortgage compoanies seperately if there are 2 different mortgage companies involved, if one company has two loans, then you will want to make sure each is negotiated or included with your negotiations. ... more
0 votes 1 answer Share Flag
Tue Mar 30, 2010
Scott Godzyk answered:
If you choose to complete a deed in lieu of foreclosure, if you have 2 loans with 2 different banks, you can not deed the property to 2 different people or banks. Depending if your state law is different, in many cases teh first mortgage gets the deed in lieu however the second mortgage remains unless they are some how paid off or negotiated with. It is the action of teh foreclosure auction that clears the title of liens so many first mortgage companies wont take a deed in lieu if there is a second mortgage. You would be best served by trying to negotiate, your first step is contact the first mortgage company, ask for the home retention department and let them know your situation, they should be able to guide you and assist you. You shoudl really try a loan modification if you would like to stay or at least a short sale, then a deed in lieu if they will accept it. good luck working things out ... more
0 votes 1 answer Share Flag
Wed Sep 24, 2008
Drew Hitt answered:
Wow, Don's response was great. He's dead on in his answer. Basically the investors already negotiated the short sale and the bank accepted their price, they are simply trying to find someone to take over their deal at a higher price than they negotiated it for. While the legalities are up in the area because we don't know what kind of disclosure they used, I see it happening quite often. My opinion would be to let the investors know it's better to walk with some money, then the bank take the deal back and you don't get any. Remind them of the foreclosure date and hope for the best. Best case, you get it back as an REO and make a lower offer...hahah. ... more
0 votes 3 answers Share Flag
Fri May 23, 2008
NonRealtor answered:
voices member. You can still flip houses in this area. That person just made 110K in just 5 years. That's 22K per year. It goes to show you, that if you wait long enough, someone will buy your house. There was a bigger house, just down the street from this house, that sold recently for 226K, but it was a bank owned home.
Golf Course Community
978 Willbrook Rd
Newport News
... more
0 votes 23 answers Share Flag
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