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Foreclosure in 91614 : Real Estate Advice

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Activity 2
Wed Jun 10, 2009
Gabriel Diaz, GRI answered:
You are allowed to use any financing you choose however the seller can request that in order for you to submit an offer you must be pre-qualified first. They will usually offer you special incentives to use their in-house lender as well. I have seen where they will remove the per diem charge if you request an extension if you use their in-house lender. You should have requested a different close date once the counteroffers kept coming to ensure you had proper time to close the transaction. Are you being represented by an attorney? ... more
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Tue Jun 16, 2009
Infinity Realty Network answered:
That depends on the individual listing, some Reo's are in pretty bad shape and need alot of work due to former owner trashing the place. Some Reo's are normal properties. If you are able to close quickly and can get a great deal and feel comfortable with the home they can be good for a First time home buyer. The flip side of that is being a first time home buyer you can underestimate the repairs needed or seriousness of certain problems if certain houses have them. Make sure you ask your Realtor as many questions as possible in these sales. ... more
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