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21227 : Real Estate Advice

  • All13
  • Local Info4
  • Home Buying6
  • Home Selling1
  • Market Conditions0

Activity 9
Fri Apr 19, 2013
Jgsheldon2 answered:
To expand...We have gotten positive feedback from potential buyers, who feel the price is right, but it all goes south once they see the condition of our nieghbors deck and back yard. We are a townhouse community, so the houses are close together.

The people at this address treat it like a Frat House, and it shows. I am at a loss as to what to do to make them clean it up. Our relationship is a bad one, as I have had to call the police on them a number of times, so I cannot simply ask them to do the decent thing. I have contacted the HOA, and I am waiting to hear if there is anything they can do.
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Sat Jun 8, 2013
Rocsheen Holston answered:

As realtors we are not obligated to provide that type of information. You will have to do research on your own
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Sat Feb 23, 2013
Miekeba Jones answered:
Thu Jan 30, 2014
Akil Walker answered:
Hello Samschene,

A short sale offer will touch many hands from a processor, negotiator, asset manager, etc. Essentially, these are middle men to the investor. The investor will make the final call as to what they will accept and reject in terms of your offer.

A BPO is not an appraisal but a Broker Price Opinion on what they believe the house will sell for under certain conditions in the current market as a distressed and standard sale utilizing recent sales of homes nearby .

if your short sale is moving along quickly and your getting response things are going well. if the BPO came back at 178k anticipate a counter offer from the bank.

Good luck
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Sat Jul 28, 2012
Charlene Carper-wainright asked:
We had an investor lined up but looks like he is backing out due to personal reasons (his wife is expecting) and he is putting all investments on hold. We had a house lined up, below ma...
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Fri Apr 8, 2011
Barry Miller answered:
what exact homes are you lloking for that you think the prices have changed? They are updated everyday by the Metropolitan Regional Information Systems. If you would like to provide me with some addresses I will be glad to give you a report of what exactly is going on with each individual home. ... more
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Fri Apr 8, 2011
Daniel Johnson answered:
It is not atypical for a bank to ask for your BAFO, usually they are looking to get the property off of their books and don't look to deal with negotiations... asking for all a buyer's got is the way around it. Recommending a price has happened to me as an agent, while I agree it seems unethical, it also saved us (myself and the buyers) time... simply put the property wasn't worth what they requested. Banks have little to no attachment to the homes they are selling, it is only about numbers to them... so while it may seem unethical it could merely be a case of them looking to hit a quota.

In short, it really does not matter what they want or advise you to offer, you have an agent looking out for your best interests to assist you with that. Have them run the numbers, comps, etc... and only offer what you feel comfortable offering (if you even decide to do so). Other homes will come, I assure you that. If it feels shady, walk. I definitely suggest you talk to someone who knows the situation (hopefully the Realtor you hired) before moving forward.

Dan Johnson
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Fri May 13, 2011
Dallas Texas answered:
Close a short sale IF the bank accepts your offer can be approx. 60 - 120 days

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Tue Nov 3, 2009
Steele V. Propp answered:
I'm a real estate agent that specializes in REOs. This is a situation I have run into a number of times this year. For whatever reason the new lender has problems getting the loan approved. And I am sure it is driving you crazy.

Since they placed it back on the market on Thursday there is always a chance another offer could come in. However, it doesn't sound like you have signed a cancellation on this one so one might be able to argue that you are still in play.

As long as there isn't another offer I would say you still have a good chance on this one. The last two times I have dealt with this, the original buyer (you) did get the house. It also depends on the relationship with the listing agent. Make sure this person knows you still want the house and are doing everything you can to get this done.

Good luck and stay on top of your lender.

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