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Derwood : Real Estate Advice

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  • Local Info1
  • Home Buying2
  • Home Selling0
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Activity 10
Wed Apr 13, 2016
Qymj86-mm asked:
Tue Jun 9, 2015
You can't do ANY of your own work unless you are a contractor licensed to do that. 203K is pretty strict when it comes to the repairs/upgrades to the house. They require pretty much ALL work to be completed by a licensed builder/contractor. So even if the work is not all that complicated and you have the knowledge and expertise to do it yourself, you're out of luck there unless you are a builder or contractor. Even then they usually frown upon that.

If something goes wrong they need to place the liability somewhere
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Wed May 21, 2014
Sunita Bali answered:
I would recommend that you check the zoning for the property to see if a business can operate on that property.
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Mon Sep 30, 2013
The Roskelly Team answered:
If the property is on the market, any local real estate agent can assist you. If it is just a vacant home that appears abandoned, they can help you locate the owner through a tax record search so that you may approach them with an offer.

If the home is part of an estate, in probate or pre-foreclosure it may be in "limbo" and unattainable.


Laura Roskelly, Realtor® & Accredited Staging Professional
The Roskelly Team
RE/MAX Leading Edge
Hall of Fame member
410-721-6694 ~ Office
443-926-0090 ~ Fax
410-507-2495 ~ Mobile

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Mon Sep 16, 2013
Greg Myers answered:

Sorry to disappoint you, but until the bank or the bank servicing the loan lists the home for sale with a real estate agent it is not available for sale. Bank asset managers (REO/ Foreclosure) do not deal directly with the public.

Greg Myers
Re/MAX Realty Group
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Wed Nov 7, 2012
Robert Kerxton answered:
Yes you can and will absolutely get your Earnest Money Deposit back! As long as the short sale contingency period (3rd party approval) has expiered you are free to void your contract at any point in time! ... more
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Mon Jul 18, 2011
Yes you can but as the others have said depending on where you are in the process could cost you appraisal money. And it's starting all over. If the savings is enough than you might want to take a look though. Again as the others have said look before you leap though. Don't always chase the lowest rate from some internet shop. You might get it, you might not but someone local offers a degree of accountability and local expertise that out of towners can't match. I live and work in Rockville so if you need anything just let me know and we can talk. When I deal with a new company/person I Goggle their name also just to see what comes up both good and bad. You may wish to consider this as well so you know with whom you are dealing.
Hope this helped. Thanks
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Wed Dec 2, 2009
Piero Marinucci answered:
Still looking for this information? Check out for free home reports that show solds and active listings (and it includes map and address info, plus schools, community info, etc.). good luck. ... more
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Wed Nov 18, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
There are lots of reasons why the information could be on realty trac or or some other site that reports the data of loans in preforeclosure. The way realty trac gets the information is that the first legal foreclosure action is recorded in the court house and becomes a public record. Once the information is public, vendors download the information and make it available to companies like Realty Trac.

As long as the information is reported on the public record it will be reported on realty trac. So if the case is cured according to the bank or the owner the bank should recind the first legal from the public record. The reason why the first legal has not recinded can because the bank or attorney did not process it or court has a back log in recording the update or the vendor that supplies the data has not updated the information. The information on realty trac is only updated once a month.

How a loan is cured will effect the process too: it could be that the loan was reinstated, modification completed, property sold, short sale completed or a repayment that brought the loan within 60 days late (maybe depending on the lender).

As indicated in the previous response the only one that can sell the property prior to the foreclosure sale is the owner. If it is a short sale the owner is selling the property with the approval of the bank. Otherwise you either have to buy the property at foreclosure auction or from the bank as a Real estate owned property.

Realty trac is only a tool not a listing of properties for sale. The foreclosure process is a complicated process and you need someone who understands the data to assist you if you are looking for a home. Only 50% of the home owners that enter foreclosure work them selves out of foreclosure. So that means the people decide not to keep or sell their home.

Everyone has there own reasons why they do what they do!

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
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Thu May 22, 2008
Rez Kodad answered:
Frank, $250 to Surveyor would be the solution. Markers usually are wood sticks; however for a fee they can install a metal permanent marker.

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