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Home Buying in Sumner : Real Estate Advice

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Activity 4
Wed Sep 16, 2015
Cuhome asked:
Fri May 23, 2014
Dan Tabit answered:
Slyndecorator,
Foreclosures listed here by RealtyTrac are almost always not currently for sale. RealtyTrac sell subscriptions to information you can get for free from a great local agent.
To buy a foreclosure you have two options;
1. Buy with cash at the sheriffs auction. No previews, inspections or changing your mind. You'll be competing with professional investors who will help you over pay on properties they aren't interested in to get you out of their way.
2. Buy with an agent a property listed for sale that has been through the auction process and was retained by the bank. You can preview these homes, inspect them and get the help of an experienced agent to help you make a wise purchase.
My suggestion to most buyers is consider all the inventory, not just foreclosures or short sales. Good buys exist in all categories. You can save a lot of headaches if the house you buy is a regular sale.
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Mon Aug 27, 2012
Jirius Isaac answered:
First of all, I am representing a client right now as their buyers agent & their loan officer for a purchase in Preston-Fall City area & the loan is USDA. So, no problem there. However, if the house you are interested in changes to not being in the new USDA area, that would be a problem. The approved areas have not changed for several years, so once they change it should not matter how long the short sale takes. If I can help you with anything at all, let me know.

good luck, Jirius Isaac
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Tue Mar 17, 2009
Katie answered:
Are you using a mortgage banker? Is the company national?

There is often a turn around time from when the local mortgage banker submits all the required documents and when the closing docs are sent...usually a week. It could very well be that your mortgage person has submitted the final pieces within the last week and may have a verbal green light while the final steps are still being completed. The folks at the headquarters can be rather unsympathetic to the urgency with which you need/want the docs and lighting a fire under them to expedite the process can be difficult if not impossible.

Until the docs are sent...there is always a chance that something could go south. But if you are being told that nothing further is needed from you and all looks good...it probably is, so I would not panic.
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