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Foreclosure in 33954 : Real Estate Advice

  • All11
  • Local Info2
  • Home Buying5
  • Home Selling0
  • Market Conditions1

Activity 21
Mon Nov 26, 2012
Tammy Hayes answered:
Contact a local real estate attorney.
Richard Rosenbaum
Murdock Circle, Port Charlotte
(941) 255-5220

or
Farr Law Firm
Nesbit St, Punta Gorda
941.639.1158
0 votes 2 answers Share Flag
Mon Dec 10, 2012
Danielle Sharp answered:
Yes. Regardless of whether or not the owner is paying their mortgage has nothing to do with your lease & obligation to pay rent.
0 votes 7 answers Share Flag
Thu Dec 8, 2011
Shawn Ryan Rosa answered:
unless you have a firm written contract (attorney review concluded), seller can accept other offers without having to justify the decision.
0 votes 10 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
Thu Dec 8, 2011
Dan Tabit answered:
Marianne,
State laws vary, and I'm not licensed in FL, so it could be different, but in most places I'm aware of Agents are required to disclose any material defects inherent in a property. I would suspect a failed septic would fall under this category. Did you receive any sort of disclosure regarding the home? In some cases, like bank owned homes they may be exempt from completing a disclosure form since they never lived in the house, but I still believe an agent would be required to disclose this as a material fact if they knew.
What does your agent say? If you can prove the listing agent had prior knowledge and didn't reveal this to you prior to writing your offer it may be worth discussing the matter with them and their broker. Your agent should be the one to start this process.
... more
0 votes 15 answers Share Flag
Mon Apr 18, 2011
Julie Laten answered:
There are no additional fees associated with foreclosures unless the home has been foreclosed on and the owner did not pay the taxes. This can play out one of two ways. 1 The new property owner (bank or government) will pay those taxes for you or you will need to pay those upon closing. Typically those are paid for you. Also, if the homestead exemption has expired you may pay a higher tax rate for the first year but will get that money refunded when you pay your taxes the following year. When you close on your new home you will be required to buy title insurance (this is true with any house) which will protect you from any title encumberance.

Hope this helps,
Julie
... more
0 votes 11 answers Share Flag
Wed Oct 27, 2010
Mark and Jean Tyree answered:
Sure, it's not too early to start looking. We can set up a search for you and send you some homes that are appropriate. Give us a call or email - cell #: 941-204-9805 or tyreeteam@century21.com you can see more about us on our web page: tyreeteam.com. Thanks! Mark & Jean Tyree/ Century21 Almar ... more
0 votes 6 answers Share Flag
Wed Aug 25, 2010
Shellee Guinta answered:
Hi, Kate,

Please call me. I have listed an immaculate 3/2 pool home...just reduced the price to $84,900.


Shellee Guinta
CENTURY 21 Almar & Associates
19700 Cochran Blvd.

Port Charlotte, FL 33948
Toll Free (800)231-0323
Direct (941)426-4534
Email shelleegee@verizon.net
Website www.ISellHomesInParadise.com
... more
0 votes 8 answers Share Flag
Mon Sep 19, 2016
Dave Griswold/ Lisa Payne-Griswold answered:
Hi Kelli, Yes as Mott has said legally you do, you will need proof of rental payment and if you have it a lease when the bank comes knocking, they may let you stay out your lease and at that point you'd be paying them the rent. Many banks will honor the lease term. Some will not but in most cases when they don't they will still allowed you time to move. 60 to 90 days is standard. If you have security with your current landlord and can show proof of such then you may be able to neg. with bank for return of that money,, maybe it's rare but you can try.
All the Very Best

Dave & Lisa
... more
0 votes 33 answers Share Flag
Sat Jun 12, 2010
Shannon Moore - The Moore Team answered:
Hi Daniela!

I don't see an address or MLS# for the home in question. Please give me a call or email it to me and I can answer all your questions about the home.

Shannon Moore, Broker/Owner
Green Lion Realty
941-276-8142
twomoores19@comcast.net
... more
0 votes 2 answers Share Flag
Wed Oct 27, 2010
Billyboy answered:
Thu Sep 10, 2009
Shellee Guinta answered:
There are several areas where you can have a motorhome and be on water with sailboat access. I would need more information from you however. What price is in the "affordable"; range for you? Also, what other criteria are you looking for?

Please contact me...I would be happy to do a search for you and email information on properties which match your criteria.

Shellee Guinta
CENTURY 21 Almar & Associates
(941)426-4534
... more
0 votes 4 answers Share Flag
Thu Sep 3, 2009
John Bennett answered:
Would that be Paul Newman - 'the man with a Barbed wire Soul"

What a great movie - going to rent tonight - thanks for reminding me.

John
0 votes 2 answers Share Flag
Sun Aug 23, 2009
Rodney Forbes answered:
It depends on whether or not the property is sold at auction. Most properties that go to auction are not sold and the property goes back to the bank.

It may take weeks or months for the bank to get the property back on the market. You may be able to negotiate directly with them to stay in the home, but be ready to go with less than a week notice just in case ... more
0 votes 1 answer Share Flag
Sat Jan 31, 2009
Lorrie Tanksley answered:
Hi Ron - This home on Marydale is a bank owned property. Here is a link to open for all the details and multiple pictures on this property: http://mfr.mlxchange.com:80/Pub/EmailView.asp?r=1055884363&s=MFR&t=MFR. If you would like to see this home personally, please feel free to get in touch with me directly and I can make the appointment for showing it to you. Thank you, Lorrie Tanksley, Coldwell Banker Sunstar Realty ... more
0 votes 3 answers Share Flag
Sun Nov 2, 2008
Capt Bob Davies answered:
The length of time to close on a short sale depends on the lender, whether there is a second mortgage involved and if there is mortgage insurance. You can reasonably expect at least 60 days for a response and many times the entire purchasing process can take 3-4 months. With that said, if you have the time, you can get some great deals on short sales. Keep in mind, though, that it will be 60 days to get a yes or a no, so have your Realtor do a market analysis and be realistic with regards to your offer so you do not waste your time. The bank will have a Broker's Price Opinion or an appraisal done, so they will know how much the home is worth before they answer your offer. It can be lower and still approved, but it has to be within a reasonable range.

Bank foreclosures are much faster. The selling price is going to be about the same because the bank is not going to settle for much (if any) less than market value on a short sale, and by the same token, they are not going to be able to sell a foreclosure for more than the market will bear.

The main question you have to ask yourself is when do you want to purchase. If you have the time and patience and you fall in love with a particular home in a certain neighborhood that is a short sale without mortgage insurance, you may want to take the chance. If, however, you find a foreclosure that you like just as much, that process will go much faster and smoother.

Hope this helps. Good luck.
... more
0 votes 6 answers Share Flag
Wed Aug 27, 2008
Brooke O'Malley answered:
Barbie,
This is a question for a Real Estate Attorney to answer. Call the county to see if they have a legal help line
or other assistance.
Hope this helps,
Brooke O'Malley
Real Estate Broker
Mortgage Broker
... more
0 votes 5 answers Share Flag
Thu Aug 28, 2008
Bill Eckler answered:
Kerry,

There are many short sale and foreclosure properties currentlu on the market in Port Charlotte and North Port. It's difficult to project the actual numbers because homes are constantly coming on and going off the market. We would estimate there are more short sales currently on the market than foreclosures and when these homes move into foreclosure status the foreclosure numbers will increase significantly.

Here's an examle of a typical foreclosure in this locaton:

2006 construction, 3/2/2 pool, approx. 2000 sf, and priced under $160,000.

This is a wonderful time to be investigating purchasing options in this location. And on the other hand, no time to be SELLING.

We hope this is helpful

The "Eckler Team"
ecklerteam@comcast.net
941-408-5363
... more
0 votes 6 answers Share Flag
Sat May 10, 2008
Ron Barnes answered:
It's a free country, Rik! You can feel welcome in trying the negotiation route on anything with anyone, but they may not listen to you. Banks, including Fannie Mae, Freddie Mac, and so on, have a lot of property on their hands and are more flexible than ever on listening to offers. They usually base their asking price on a BPO (broker price opinion) or appraisal, but they often reevaluate their position. Give it a shot, be patient, and you may get a great deal. ... more
0 votes 13 answers Share Flag
Thu Aug 28, 2008
Shannon Moore - The Moore Team answered:
I think it is a great time to buy! In fact, I have had several Canadian buyers contact me this month. I think they are realizing that they can get some good deals right now.

I'm sure you've heard before...buy when everyone is selling and sell when everyone is buying.

I personally would shy away from many of the short sales in Port Charlotte. Here is the reason. The short sale properties have to be listed by a Realtor to be sold. Often times the Realtor lists the home at a very low price because they don't know what the bank is going to take until they get an offer in. I have seen many of the short sales go for well over what the listing price is. Usually you have to wait several months before you even hear back from the bank and then often times it's not what you expected.

Now foreclosures are a whole different deal. What the listing price is is what the bank is willing to take. Generally there is little if any waiting for a response from the bank. I have seen some pretty good deals on foreclosures in the past few months.

I just sold a foreclosure for $130,000 in a great neighborhood, only three years old, high ceiliings, fenced yard, garden tub, walk-in shower, large lanai, etc. It was a Canadian that bought this home from me, without even seeing it. There are deals you just have to find them.

Please contact me and I can assist you further.

Roxanne Moore, Realtor
Re/Max Anchor Realty
Port Charlotte, FL
twomoores19@comcast.net
941-626-3926
... more
0 votes 7 answers Share Flag
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