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Foreclosure in 02453 : Real Estate Advice

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  • Home Buying3
  • Home Selling0
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Activity 2
Mon Sep 28, 2009
Peter Mlaguzi answered:

How are you? The property goes underagreement/under contract when the seller has signed and accepted an offer. In regards to viewing a property that's underagreement, it�39;s upon the seller's discretion on whether they would like to continue showing the property and your buyer’s agent can find out whether the seller is still allowing the property to be shown. So it all depends on whether the seller is allowing showings and or taking up back up offers. And the offer that you would make wouldn't be called a counter offer, it’s called a back up offer. Have your buyer's agent contact the seller's agent and find out the status of the property and whether the seller is taking up back up offers and/or allowing back up showings. If you have any additional please feel free to email or call.

Best regards,

Experience excellence

p.s. Of all of your family, friends, neighbors and co-workers, who do you think will be the next one to move, buying or selling?

Peter J. Mlaguzi III
President of Real Estate Sales and Development
O: 617-395-1496 x703
C: 617-233-1476
F: 617-395-6867
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Tue Sep 1, 2009 answered:
Hi, Liz!
yes, that is the logical assumption about banks wanting to get the properties off their books but you will find this very often is not the case. Banks are still overwhelmingly disorganized when it comes to selling properties and often the agent listing the property doesn't help make that process any better. It is near to impossible to give you a set time frame on each stage of the purchase process because each bank is different (some less organized then others) but generally speaking you should plan on the process taking around 3 months to come together. Hire a buyer agent that has dealt with these types of transactions (do not use the listing agent!), They will help manage your expectations and keep your interests protected.

Good luck!
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