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Foreclosure in Fallbrook : Real Estate Advice

  • All79
  • Local Info4
  • Home Buying16
  • Home Selling3
  • Market Conditions4

Activity 7
Fri Aug 22, 2014
Sinead McAllister answered:
Hi Michellie,
Often it will show homes on Trulia that are behind on payments. Only one home has recently been for sale on that street and it is currently in escrow (list price was $395,000). If you are looking for something in Fallbrook, I would be happy to help. I live and work in North County. Feel free to contact me anytime!

Sinead McAllister
McAllister Homes Real Estate
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0 votes 1 answer Share Flag
Mon Sep 3, 2012
Sinead McAllister answered:
Hi Jojo,
HOA includes: Common Area Maintenance, Gated Community, Other/Remarks per the MLS. Message me directly and I can call the listing agent to find out the status of the first buyer. It has been a long time since it was off the market, so they may not be in the picture any longer...

Sinead McAllister
McAllister Homes Real Estate
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Sun Jul 17, 2011
Pam Moss answered:
I know what you mean regarding the actions of the aforementioned listing agent. It is unfortunate that there are a few questionable apples in the basket but most agents work ethically and hard on behalf of their clients. If your agent believes that unfair practices took place perhaps it would be appropriate to bring it to the attention of the professional standards committee at the board to determine if in fact an unethical act took place ... more
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Fri Jul 1, 2011
John Arendsen answered:
It's easy for us to play Monday morning quarterback while sitting on the sidelines and judging. I feel that if Pam and/or her client was/is passionate about a certain property and have made a play for it and feel as though there's some level of deceit or betrayal on behalf of a listing agent/broker that they have every right to probe.

Many of you are absolutely correct. There's a lot of this going on today. There are several instances when it's just a good time to say NEXT and move on. A short sale falls out, you're the losing bidder at an auction, the home doesn't appraise, you couldn't qualify, etc.

But having said that I take principle very seriously. When it comes to a RE professional's ethics and responsibility to his profession that's where I draw the line. If we as professionals don't hold our contemporaries accountable who will?

I think Pam has every right to address this forum on this matter. Isn't that in part what this venue is really all about? Asking sincere questions and hoping for some educated and well thought out answers? Instead of feeling like you're being blown off? Pam if it were me in your same situation I'd take this to the wall.
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Thu Sep 9, 2010
Jesse Madison answered:
Ida there is no way of knowing where the BPO came in unless the bank flat out tells you. This usually does not happen. You just get an approval or counter offer. It is hard to know when the home will become an REO. If a trustee sale date is set you can anticipate that will be when it becomes an REO. But, sometimes the banks will postpone the trustee sale date because they do not want to foreclose on the home and they prefer to try and do a short sale. Regardless, you can keep your eye on the home and have your agent watch the home for you to see hwen the trustee sale date might be scheduled.

Jesse Madison
Madison Realty
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Sun May 23, 2010
Keith Manson- Metro Milwaukee Wisconsin answered:
A short sale is more than a real estate transaction. You have the normal offer acceptance in a normal transaction, but it is subject to the short sale bank approving the deal. The second part of the transaction is the short sale validating the sellers financial situation and understanding if the hardship is reasonable or not. If there is a second lender there also might be issues of a deficency judgement against the seller that may need addressing. So there is a lot of documentation and a lot of review plus negotiations taking place with a short sale.

On a REO is depends on the bank and the investor, you may get a qucik answer or it may take a week or so to come to terms. The biggest issue will be getting the signed contract because a lot of negotiations are done verbally until a deal is agreed on. But there is no deal until you have a signed agreement in your hands.

Good Luck

Keith Manson

First Weber Group
Certified Distressed Property Expert

Metro Milwaukee
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Tue Jul 1, 2008
jbposey answered:
95% (buyer's price opinion) is a nice place to start, but by no means is that always the case. Many times, banks have to accept much less. The short sale process saves banks 10's of thousands of dollar and if the negotiation is done correctly, the banks will take a strong offer... and that is relative. ... more
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