Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Team Advantage Reo All Locations : Nationwide Real Estate Advice

  • All727K
  • Local Info61K
  • Home Buying266K
  • Home Selling46K
  • Market Conditions26K

Activity 372
Showing results for Team Advantage Reo [Clear search]
Wed Feb 27, 2013
Bruce D. Boyd answered:
A land contract is seller finanacing. The buyer makes a down payment and the seller holds the title until it is paid off as security. The terms are negotiable between the buyer and seller unlike a bank. Some contracts pay themselves off and others have a balloon payment. You would then have to get a mortgage to pay off the seller. The closing costs are also very limited compared to a mortgage. ... more
0 votes 10 answers Share Flag
Wed May 21, 2014
Carl Head answered:
I'm a Buyers Agent. I think I could be able to help you.

Carl Head
Licensed Real Estate Agent
Realty Center
407-832-4650 (cell)
0 votes 33 answers Share Flag
Wed Aug 24, 2011
answered:
Steve, First, thank you for your Service! Second, your desires are admirable. Third, it's a little difficult to give you some usable advice because too many questions precede the answers. What are you doing after the service? Have a job lined up? Income? Debt? Number of dependents? Wanting to use your VA entitlements? Savings? Comfort level for a monthly payment (this may be very different that a lender will qualify you for).

Congrats on choosing to settle in the Redding area...It is so beautiful around there. Love Shasta Lake area. I understand that you may not want to lay all of your cards on the table on trulia; however, it would be very difficult to answer your questions without specific information. If you would like, please give me a call. No pressure...just the best advice I can offer specific to your situation.
... more
0 votes 10 answers Share Flag
Sat Mar 17, 2012
Mary Claus answered:
Hello Kay~

All of the areas in the South Bay have sales activity. The important selling factor is the price. Homes that are priced at market value, and are in good condition are selling fastest. Homes priced under 700K seem to be selling faster than the ones above that price point.

This is a great move up market if you are thinking of selling your current home and trading up. Please let me know if you'd like some recent sales activity sent to you. I can also give you more detailed information about the current market around us.

Warmest Regards,
Mary Claus & Allyce McAlarnis, Realtors
KELLER WILLIAMS REALTY
(310)529-6687
Mclaus1959@aol.com
2008, 2009 and 2010 Gold Top Team Award
WWW.Maryandallyce.com
... more
0 votes 8 answers Share Flag
Mon Sep 5, 2011
Kary Krismer answered:
First, I think many of the bank contracts deny a commission if the buyer is an agent.

Second, I think most brokerages now don't take on new agents and allow them a commission free transaction right out of the gate. Liability in exchange for no commission is not a good trade off.

Beyond that though, a bank owned property is not something that you want to cut your teeth on, whether it's for you or a client. They are more risky.
... more
0 votes 11 answers Share Flag
Thu Aug 11, 2011
John Juarez answered:
Noodle,

You do not want to use a real estate agent so you have asked your question on a site where 99% of the answers are supplied by – you guessed it – real estate agents! ... more
0 votes 17 answers Share Flag
Fri Apr 13, 2012
Eli Givoni-Short Sale Dept LLC answered:
Yes. If you owe more to the bank then the property is worth, you can do a short sale. Feel free to give us a call and we can explain the process to you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
... more
0 votes 45 answers Share Flag
Sun Sep 16, 2012
Scott Bingham answered:
Miguel Casillas of Coldwell Banker (951)265-1146, email - miguel.casillas@camoves.com
0 votes 8 answers Share Flag
Mon Aug 29, 2011
Michael Emery answered:
If the home is significantly less in price than it's non foreclosure counterpart, there's a good chance that it needs work. If Homes in your area are selling for $100,000 and you see one priced @ $36,000, my guess is that it needs upwards of $50,000 to make it habitable. Any home that is priced significantly below market and doesn't need work is often sold within days. ... more
0 votes 8 answers Share Flag
Thu Dec 15, 2011
Danielle Sharp answered:
Find a buyer's agent you feel comfortable with - they should be able to provide you with extra photos, research and contacts for inspections/repairs. A large majority of my clients live out of state and many have purchased sight unseen this way.

If I can be of service don't hesitate to ask....we would love to earn your business.

Regards,

Danielle
O 239.541.5363
C 248.207.4445
sharphomes@yahoo.com
... more
0 votes 20 answers Share Flag
Mon Jun 3, 2013
Ron Thomas answered:
NO!!!
That cannot be possible!
You must be mistaken!
We haven't reached the BOTTOM yet!

Good luck and may God bless
0 votes 34 answers Share Flag
Thu Jul 21, 2011
Lilo Clacher answered:
Hello Martin!
Happy to assist with short sale or sales
I work Cape Coral, Fort Myers but not the Vero Beach area.
Please let me know if I can provide you with additional information.
Sincerely
Lilo
... more
0 votes 16 answers Share Flag
Thu Oct 27, 2011
Chris Meyer answered:
There is still a lot available if you need anything feel free to call or email me. Have a great night
0 votes 12 answers Share Flag
Fri Sep 23, 2011
Chris Meyer answered:
Hello I'm Chris Meyer with castles by the beach realty I have been doing a lot of investment properties with a couple of my clients I think I can be very helpful. Send me your email and I can send you some properties for you to look at . Feel free to contact through email or calling me Thanks have a great day ... more
0 votes 20 answers Share Flag
Mon Apr 30, 2012
Danielle Sharp answered:
Mon Dec 12, 2011
Paul Welden answered:
HUD homes are a type of an REO. HUD homes have been foreclosed where there was an FHA loan on the property.
0 votes 11 answers Share Flag
Fri Jun 17, 2011
answered:
Are they saying it happened in 5/14/2011 .... or on 5/14/2011 did they just finally put it on your credit, retroactive to 4 years ago?

Do you know when the actual foreclosure sale occurred? ... more
0 votes 7 answers Share Flag
Sun Nov 11, 2012
answered:
FHA purchases are for owner occupied homes as you probably are aware, and as such they require you to have qualifying employment and/or an income source that could be sustained while living in the home you are purchasing.

Transferring with your current employer is the ideal situation when making a long distance move and aiming to qualify to buy a home in the new location simultaneously... however not everyone's situation is deal. When you are instead going to be starting employment with a new employer FHA financing requires typically either requires a paystub showing that you've been paid for a total of at least 30 days OR a non-revocable contract for employment with a start date no later than 60 days from the closing date on the home.

You must also have sufficient income or cash reserves to support the mortgage payment and any other obligations between loan closing and the start of employment, so if you have $3k in the bank after closing, and your new mortgage payment is $1.5k, and your other payments are $500/mo (car payment, credit cards, student loans, etc.), because your 1st mortgage payment usually doesn't happen until the rest of the month you close in + the entire following month have elapsed (so closing on June 8th usually has a first payment due date of August 1st ) you'd really only have 1 month of mortgage payment + 2 months of the other payments to cover, or $2.5k, and your $3k would cover those until the employment begins.

Then later after closing, and after you begin employment, you need to provide a paystub or the lender contacts your employer to confirm you have begun.

You can find FHA's exact verbiage on it at: http://www.fhaoutreach.gov/FHAHandbook/prod/infomap.asp?address=4155-1.4.E.5.d

It's never too early to go over your situation in full detail with a loan officer, and it doesn't mean your credit needs to be checked either. But unless you absolutely know that your income, plans, etc. are all going to work down the road, I suggest you start planning as soon as you are ready. Keep in mind that some pertinent details won't be known such as employment and exact income, but you can get a plan of attack with the missing variables that can be filled in along the way, so you can "hone" your situation until you have pretty much everything figured out.

CalHFA is a popular 3% down down payment assistance program available throughout most of California: http://www.calhfa.ca.gov/homebuyer/programs/index.htm - it has some limitations, the processing time is on the longer side and sometimes their funding runs out, but if it's available it's an excellent way to get into a home with little money out of pocket.

San Bernardino County has some, but may not help out your precise situation: http://www.sbcountyadvantage.com/Housing-Assistance.aspx
... more
0 votes 11 answers Share Flag
Sat Jun 25, 2011
Lee Taylor answered:
They choose based on highest and best offer criteria, which is subjective and conditioned by the personnel involved.

So what?

The key to this submarket as a purchaser is to see lots of properties and make lots of offers.

Are you a purchaser, Grandma?

It's not hard to find these properties, by the way. What are your reasons for saying that? That's preposterous, Grandma. I can take one research swat at Ellenwood/South Dekalb and probably find 50-75 Fannie Mae Homepath listings for properties....

Why are there so many multiple offers? Grandma, when only 38% of all properties are selling, and when over 50% of all sales activity in metro Atlanta is happening under $200,000 and when well over 50% of that sales activity is distressed sales activity, well multiple offers are a functional part of the game.

FNMA Homepath terms and conditions have made the playing field very level for first time, primary resident homebuyers. There are other organizations, like non-profits, churches, etc. who also get an advantage over investor buyers / all cash buyers / absentee owners, with these properties.

Truly, quite fair. Truly, highest and "best" offers win. Truly, with multiple offers, they can be "choosy..."
... more
0 votes 4 answers Share Flag
Fri May 18, 2012
Pacita Dimacali answered:
There is not one answer to your question....there are no percentages, rules, etc regarding how much more a buyer should offer in a situation like this.

What does your realtor say?
What did you offer in the first place?
And how does that compare with current market values of similar properties in the neighborhood?

Remember, even if you write an offer for above list price, if you're getting a loan, that property will have to appraise for what you offered in order for the loan to be approved.

Good luck!
... more
0 votes 124 answers Share Flag
... 4 5 6 7 8 ...
Search Advice
Search