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97203 : Real Estate Advice

  • All12
  • Local Info0
  • Home Buying4
  • Home Selling5
  • Market Conditions0

Activity 600
Tue Sep 18, 2012
Tina Lam answered:
Since we're not mind-readers, we can only guess at what he's likely trying to accomplish. If you're in a competitive situation, the listing agent may be doing you a favor by keeping you in the backup position, just in case the offer under contract falls through. Even if he's totally confident about the offer, there are no absolute guarantees that it will close. Anything can, and often does, happen, especially with financed deals. ... more
0 votes 6 answers Share Flag
Sat Sep 15, 2012
Tom Inglesby answered:
An offer that is in second position in line is not what we would call a back up contingent offer. A back up offer not a second on a contingent offer because most of the time they are bumpable with some kind of a dead line. Tom Inglesby ... more
0 votes 3 answers Share Flag
Sat Sep 22, 2012
Regina Ferron answered:
Hi Sonya, I would say yes! If the current buyer has an issue and has to cancel escrow, you will be next in line.
0 votes 9 answers Share Flag
Fri Sep 14, 2012
Wayne Olson answered:
Hi Sonya,

RMLS recently added a new status for short sales: Short Sale Pending. Most likely this is what the various websites you are looking at are trying to capture but haven't been able to because the addition of the new status (SSP) is still too new.

What is likely the case is that this property has received an offer which the seller has accepted and sent to the bank for approval, but the bank has not given that approval yet. Technically the property is still on the market. Once the bank approves and accepts the buyer's offer, the property will go off market and be marked as "Pending."

I hope that helps! Feel free to call or email with additional questions.

Best,

Wayne Olson
Windermere Cronin & Caplan Realty Group, Inc.
Lake Oswego, OR
(503) 389-3025
http://wayneolsonhomes.com
... more
0 votes 6 answers Share Flag
Wed Sep 12, 2012
Linda Heinrichs answered:
You should contact an attorney to help you, but at the very least contact your lender via phone and in writing to let them know what your plan is. If you need assistance with a short sale, please call asap - we are successfully helping sellers in these situations. ... more
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Wed Sep 12, 2012
Tim Moore answered:
Let them demand all they want. Have the number for an attorney available if you need it to sort through the details since we don't have any.
0 votes 5 answers Share Flag
Thu Sep 6, 2012
James Gordon ABR SFR SRS answered:
No you should have them as soon as possible but this does not void anything. Contact your Realtor® and ask for copies. You should have had a copy of your listing agreement when you signed it or shortly after. The Purchase contract you should have recieved a copy after it was fully executed. Electronically sent copies are fine. ... more
0 votes 5 answers Share Flag
Wed Sep 12, 2012
Ron Thomas answered:
That would depend upon who is doing the repairs:
If the SELLER is doing the repairs; they should be finished before the Close of Escrow, unless you have given permission to the contrary.

If you, the BUYER, wants to do the repairs; you may not do anything until after the Escrow CLOSES: The Condo does not belong to you, and if you spent some time and money on the Condo, you would not be covered by insurance, you wouldn't be approved by the HOA, and you could not make a claim against the SELLERs if the DEAL fell out of Escrow.

It would DEPEND upon what you and the Seller agreed to; but as a rule, YOU cannot do anything.
... more
0 votes 9 answers Share Flag
Tue Sep 4, 2012
Anne Yoo answered:
No, but it's sometimes hard to achieve because the two (or more) deals involved have to be approved and able to close at the same time; if mortgage lenders are involved, that can make this part particularly challenging in the current lending environment. ... more
0 votes 10 answers Share Flag
Tue Sep 11, 2012
Ruth Velez answered:
Hi, Austin:

I'd be happy to help you. Please contact me, and we'll go from there.

Best regards
0 votes 6 answers Share Flag
Mon Sep 24, 2012
Cindy Westfall answered:
Hi Laura,
Your best bet would be to interview a few agents and choose one to work with you closely to narrow down specific areas and neighborhoods that would work for you. Your price range will help determine what areas would work, and is the best place to start.

All the best!

Cindy Westfall, ABR,GRI
Premiere Property Group
Lake Oswego, OR 97035
503-819-5241
cwestfallportlandrealestate@gmail.com
... more
0 votes 7 answers Share Flag
Tue Sep 4, 2012
Ruth Velez answered:
Hi, Elisa:

Our agents work with many investors. If you would like to attend one of our investor workshops, please feel free to contact me. I'll be happy to provide further information. ... more
0 votes 6 answers Share Flag
Sat Sep 15, 2012
Melina Tomson answered:
You need 4 years for most lenders in order for them to sell it later. If you want to try and get a loan now, you will need to find a lender that holds their own loans rather than sells them. Washington Federal does here in the PNW. ... more
0 votes 8 answers Share Flag
Tue Nov 5, 2013
Aleem Mohammed answered:
Bart,

In order to be proactive, I would probably get estimates to show the buyer what it would cost and help to educate them as to whether they want you to convert it, or leave it for them to do with a potential credit from you.
You can educate your self as well and use as a negotiation tool.

Hope this helps,
... more
0 votes 12 answers Share Flag
Fri Aug 31, 2012
Melina Tomson answered:
We will need a mortgage broker to weigh in, but I think you have to pay the mortgage insurance for 5 years on an FHA loan before you can get rid of it. You can, of course, refinance into a conventional loan at that point as well. ... more
0 votes 7 answers Share Flag
Mon Dec 17, 2012
Marcus Necessary answered:
In my market, it is harder to sell a condo than a detached single family home but your market may be different. One thing that is universal is that getting financing on a condo can be more difficult. Lenders have more stringent regulations regarding the property development or Horizontal Property Regime (HPR). The HPR must meet certain construction standards and have a certain percentage of owner occupied units (normally must be 50%). ... more
0 votes 7 answers Share Flag
Fri Aug 31, 2012
Jennifer Peterson answered:
I know you are looking for a home to rent, but have you considered looking into buying a home? Contact me if you are interested in discussing further. Good luck!

Mandy Lewis
Realtor, Keller Williams
(503) 522-5803 cell
... more
0 votes 2 answers Share Flag
Fri Sep 28, 2012
Mack McCoy answered:
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