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Making An Offer On A Short Sale Home All Locations : Nationwide Real Estate Advice

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Showing results for Making An Offer On A Short Sale Home [Clear search]
Fri Apr 5, 2013
Carol Bauza answered:
Thanks for turning to Trulia for your real estate questions....

I can only answer for myself but I have covered all of the areas you mentioned and then some.
Your search will depend on the location, size, and amount you can spend. So before you do that you should contact a lender to get a pre-approval.

If you need a lender or just have more questions, please feel free to contact me.

Carol Bauza
Charles Rutenberg Realty
carol@carolshome.com
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0 votes 9 answers Share Flag
Sun Aug 25, 2013
Melissa Mccollum answered:
Those are really good places, you can also go through a mortgage broker that can place you with a bank that fits your needs as well. Your realtor should be able to help you with that! Have a great day! ... more
0 votes 20 answers Share Flag
Thu Apr 4, 2013
Gil Faust answered:
It would be very difficult to complete the mortgage process from beginning to end in 14 days. To best prepare yourself for a quick close, you should get completely pre approved, subject to the property and appraisal, before making offers. If you are ready and willing, we can provide a 21 day close guaranty certificate that you can submit with your offers. ... more
0 votes 8 answers Share Flag
Mon Apr 29, 2013
Alan May answered:
Personally, Martha... I wouldn't hire anyone who "badmouthed" the competition. But that's just me.

Selling real estate is not rocket science... but it's also not something that's formulaic. Meaning there's just no tabulation, or logarithm that we can use to build a price. So it often comes down to the agent's familiarity with the area, their experience (how long have they been doing this, how many homes of your type in your area have they listed), etc...

So it's not uncommon for agents to come up with different valuations... and since commissions are negotiable, each agent/agency decides what they charge, to make sure that the fee covers the expenses for all of the services that they offer.

So you need to do your homework... find out the history, experience, of each of those agents... how many homes did they sell last year, last three years.... what was their list/sell ratio on those homes... what percentage of their business is listings vs. buyers... are they prominent in your area in the type of home you have to offer.... are they a full-time, or part-time agent.

Ask them to explain exactly what services they offer for their fee, and ask them to explain why they charge what they charge. If one agent is charging less, make sure that they're not just deducting that portion from the buyer's agency commission that they're offering on the MLS.

Good luck.
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0 votes 11 answers Share Flag
Tue Jun 4, 2013
Ann Ryan answered:
RITH,

Have you attempted a short sale? Florida is a recourse state, so the banks can come after you for the outstanding debt. Hopefully, you've already consulted a financial counselor and lawyer about this, if not, call one TODAY.

(I work with one of the most experienced short sale negotiators)

The answers to 1-3 will depend on information that isn't clear from the provided information. Get a real estate agent to guide you when making an offer.
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0 votes 3 answers Share Flag
Tue Jan 13, 2015
Pacita Dimacali answered:
I'm sure you will hear from several folks on the whys.

You may find it interesting that the founder of ForSaleByOwner.com gave up on trying to sell his own place, and used a realtor to do it.

See http://agbeat.com/housing-news/forsalebyowner-com-founder-gives-up-on-own-listing-hires-real-estate-broker/

The articles states: AGBeat columnist Herman Chan said, “If people want to take a stab at For Sale By Owner (ie FSBO), go for it. But well over 80% of FSBO’s eventually have to list with an real estate agent to get their house sold. It’s harder than it looks!”

It goes beyond the hows...there are mandated disclosures that a seller should provide to the buyer. How much do you know is required, and are you insured against any errors/omissions?
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0 votes 17 answers Share Flag
Mon Nov 4, 2013
Anna M Brocco answered:
What is your agent advising...in order to determine a fair offer review comps, recently sold similar properties in the immediate area, see what the data suggests and go from there...
0 votes 5 answers Share Flag
Sat Apr 6, 2013
Bill J Deligiannis answered:
You can refinance to a lower rate or sell your home in order to allow you to purchase a new one.

Every deal is different - feel free to contact a lender so you can get accurate info pertinent to your specific needs.

Contact me should you need any help.
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0 votes 10 answers Share Flag
Fri Sep 26, 2014
Shanna Rogers answered:
Hi Tiffanitimmons,

Since you are still legally married, he needs to sign a Quit Claim Deed or he could have rights to your house since California is a community property state. Check with your Divorce Attorney on possible ways to resolve this since you can't find your ex to sign. I'm not an attorney but maybe you could just have your Mother on Title until your divorce is final (unless you can get your ex to sign the Quit Claim Deed before the house closes) and then once your divorce is final, you can be added to Title with a Quit Claim Deed. Again, I'm not an attorney but check with your Attorney to see if that is possible.

Shanna Rogers
SR Realty
www.RealtyBySR.com
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0 votes 15 answers Share Flag
Wed May 1, 2013
Heath Coker answered:
I am listing a similar size house in Plymouth with waterviews - on Saturday possibly.
Send me a note or text and I'll show it to you.
It may be more than your budget though, at $220,000.


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
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0 votes 11 answers Share Flag
Thu Jul 25, 2013
Kevin Sanderlin answered:
First step.... Talk to a lender!
Can't buy a home if you don't have the money.
You will probably get several references today from your question.
My preferred lender is Jon Shrum and can be reached on his cell at 714-614-3707
He can help you get pre qualified for a loan and get you on your way to buying a home.

Kevin Sanderlin
Keller Williams Realty
Cell 714-588-7881
kevinsanderlin@gmail.com
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0 votes 22 answers Share Flag
Thu Jul 25, 2013
Daniel Di Matteo answered:
I'd be more than happy to help.

Daniel Di Matteo
619-512-0006
Daniel@DiMatteoGroup.com
0 votes 35 answers Share Flag
Wed Apr 3, 2013
Julie Traver Lucia answered:
Please contact me, I am very experienced in short sales, to put in an offer, you only need a minimal initial deposit of $1,000 and while you are waiting for short sale approval which can take 30-90 days, you can still save up for your down payment for FHA. Will you be purchasing in CT? Look forward to hearing from you, Julie Lucia, Realtor, Coldwell Banker Realty 2000, 203-578-5631; JLucia@cbrealty2000.com ... more
0 votes 2 answers Share Flag
Thu Apr 2, 2015
stephen webber answered:
Depends on how well it has been maintained. Many many good solid houses over 50 years old. Just be sure to have your purchase inspected.
If you where to decide on and establish a geographical area you prefer to live in and establish a price range than see every property for sale in that area and price range you would become a very savvy home owner. Its not that difficlut of an undertaking. In my real estate years I walked hundreds and hundreds of people through the process and they were always happy with the results. There are a series for articles at Your-Road-Home.com that outline the process for you. You will also find articles on home inspection.
My advice has always been; gather information, gather information and...
Than after yu gather up all your information you will find loan officers and real estate agents on Trulia offering their services. Good source.
Best of Luck, Stephen
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0 votes 29 answers Share Flag
Thu Apr 4, 2013
Suzanne MacDowell answered:
You've seen 'do it yourself' home improvements, right? Well, a licensed agent is a professional. The difference between hiring a home improvement contractor and doing it yourself.
0 votes 4 answers Share Flag
Fri Sep 27, 2013
Gene Neal answered:
Are you putting down 20%? Are you willing to repair the property? It depends on your risk tolerance. Some deals are available however the property may need massive work.
0 votes 10 answers Share Flag
Thu Apr 4, 2013
asirois answered:
Not necessary - all assets can be counted for you if they are liquid - they don't need to be in one account. Moving money around too much can cause additional documentation requirements. ... more
0 votes 9 answers Share Flag
Mon Oct 14, 2013
Daniel Lehman answered:
Depends on the REASON for the lower credit. It could be inquiries, it could be derogatory accounts, and very commonly a VERY simple way to increase it would be to decrease your "debt to high limit". In other words, if you have a 10K limit on a credit card, you want to stay under 3,000 dollars, or 30% typically.

I dont charge for credit repair, but do a lot of credit repair for my clients to get them better rates/terms, etc when applicable. I also have a system where we can basically say "IF we were to do THIS, what would be the outcome", OR, we could say "We need 50 points. What do we have to do to get 50 points" and it will tell you exactly what you could do to increase your score.

If you want, drop me a line and I can take care of you.

Daniel Lehman
858-345-4725
daniel.lehman@wjbradley.com
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0 votes 18 answers Share Flag
Tue Apr 9, 2013
Maurice Thomas answered:
I agree with Elizabeth... This is a sellers market. Low inventory = lower supply = higher prices.
High demand = higher prices. With low inventory and high demand it is a sellers market. Please let me know if you have any questions. ... more
0 votes 13 answers Share Flag
Wed May 1, 2013
Kevin Yankow answered:
Distressed sales (REO and Short Sales) will require either proof of funds or pre-approval letter from a lender. FHA, VA, or any other conventional lending program should make no difference. I'm currently working with several buyers purchasing foreclosures or short sales and would love to answer any more questions you have. Feel free to call or email anytime.

Kevin E Yankow
Broker
KEY Real Estate, Inc.
239-206-3467
Kvin@KEYtoSold.com
... more
0 votes 8 answers Share Flag
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