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Foreclosure in 22201 : Real Estate Advice

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  • Home Buying40
  • Home Selling2
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Activity 3
Sat Feb 9, 2013
Jamie DeSimone answered:
Hi Adel,

To answer your question, it depends. But foreclosure or REO properties have generally been closing between 1-2 months.

I would add though that foreclosures aren't always the deals that people think they are. There is no negotiating with a bank. In addition the condition of the property can be questionable. And if it is in great shape and priced well below market, chances are that it is receiving multiple offers that are pushing it up to market value anyway.

There are many other properties on the market that are in good shape and are reasonably priced. I would encourage you to speak with an agent to determine your needs and your price point to find the best property.

Feel free to reach out to me with any questions. I am very familiar with the market in Arlington and Fairfax counties.

Jamie Lee DeSimone
Realtor | Residential Property Enthusiast | Cat Wrangler
Keller Williams Capital Properties - Fairfax
http://www.vahomesbyjamie.com/
Cell: 703-517-5608
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Wed Oct 16, 2013
Carmen Di Biase answered:
You are correct in saying that FHA has a "no nonsense" policy when it comes to mold. Understand that FHA's primary concern is the safety of the property. I have sold 2 foreclosures with mold problems that were remediated by the bank. Unless the bank decides not to accept offers with FHA mortgages, they understand that a mold issue is their responsibility. FHA will order a follow up inspection to determine that the mold has been remediated. It does not seem like a large mold problem and the REO agent may be authorized to remediate up to a certain price. Negotiation is the key. ... more
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Tue Apr 15, 2008
Ron Kwiatkowski answered:
Get hooked up with a good Realtor in the area you are interested in. You will need to find one who has dealt with foreclousers before. If you need help finding one e-mail me and I will be glad to help search one out for you. Have a Great Day! ... more
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