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Annapolis : Real Estate Advice

  • All162
  • Local Info10
  • Home Buying60
  • Home Selling3
  • Market Conditions12

Activity 92
Sun Apr 28, 2013
Leann Nagi answered:
Good evening! I would be happy to pull listings for you, in the Edgewater area. Sounds like you'd be highly desirable to landlords given you have no pets and have excellent credit. Feel free to contact me via email and/or cell and we can get the ball rolling.

Leann Nagi, Realtor
Cell: (443) 532-5254
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Wed Apr 10, 2013
Richard Taylor answered:
Easy to do; Call or contact me on at home@click3times,com with your contact info and I will set up a search and go over the process with you. Click on my website to learn more about my background.
Rich Taylor
443 710-7871
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Sun Jul 14, 2013
Catherine Purcell answered:
Hello Britt,

There have been instances where the bank does not move towards recording the deed in their name because they don't want to be responsible for the taxes on the property. Even though the banks went through with the foreclosure proceedings, it doesn't mean that the foreclosure actually went through...and, it would appear if the deed was not recorded in the new owner's name that there may have been some issues with the foreclosure not being completed properly.

Unfortunately, there were over 30 million home owners who were caught with upside down values on their homes - thus the great amount of foreclosures and short sales on the market today - they are a result of the 2004, 2005, 2006 boom and the 2009 crash in the market.

Hope this helps!

Catherine Purcell
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Sun Apr 7, 2013
Richard Taylor answered:
Houses are not put up for sale on the day of foreclosure nor is the bank required to put them up for auction. Sometimes the LA will put up a sign in advance of the MLS listing, but not always. If you have a real estate agent who has a MLS automated search in place for you, you will see whatever comes on the day the listing agent puts it in the MLS. You cannot rely on the "various real estate websites" to have information as current as the MLS. The MLS is where they get their data.
If you would like, I can create a search for you and/or find out details of the house in question. Contact me at

Rich Taylor 443 710-7871
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Wed Mar 27, 2013
Rachel Best answered:
When working as a buyer's agent I would certainly ask for evidence on behalf of my buyer client BUT the standard MD kick-out clause addendum specifically states the seller does not have to provide evidence of another offer to the contingent buyer. ... more
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Sun Aug 25, 2013
Robert McArtor answered:
I would suggest searching online for the "Paper of Record" for that particular county OR the main Auction Firms that link to their Trustee's Calendar is Alex Cooper Auctioneers, Harvey West Auctioneers, Tidewater Auctions, Mid-Atlantic Auctioneers, LLC. - Tax sales are held in each county. The best thing to do is visit each county's website and look-up the property tax sale schedule. Process to buy from the courthouse? READ the Ad. This is your contract. The Terms of sale are important and sometimes vary from Trustee to Trustee. You need to bring a non-refundable deposit of the amount specified in the ad for that particular property. You have to wait for the property to Ratify then you will receive notice. Once it is ratified you should have around 10 days to settle HOWEVER this may be different from Trustee to Trustee. Do your Due-Dilig. on the property and bid wisely. ... more
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Mon Mar 25, 2013
Akil Walker answered:
Hi Shelly,

The more baths tend to itself to higher value but since you will be the owner you can do anything you want with the home to accommodate your family's needs. when it comes time to sell it you can convert it back if you would like.
Good luck on your purchase.
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Tue Mar 26, 2013
Akil Walker answered:
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Tue Mar 26, 2013
Jenn Bonk answered:
Call me and we can discuss the process for getting it done for you. Jenn Bonk, 410-499-2251
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Mon Feb 25, 2013
Robert McArtor answered:
I have to ask you. What is your agent telling you? Is your agent asking the Listing Agent for daily up-dates as to what is happening? The Listing Agent is working on behalf of the Seller to move this Short Sale file forward. Believe me, they do not want this to go to auction HOWEVER...with that said. It MAY work to your benefit. I have heard many times that if the Lender (Investor) buys the property at the court house steps, the lender should take a second look at your offer. Remember, many times the one hand (Foreclosure Department) does not know what the other hand (Short Sale Department) is doing. Your file deserves and NEEDS an experienced Short Sale Negotiator. Basically someone who is working on this file everyday...demanding the Lender move forward on this....asking for a letter of approval, etc.

I would not contact the Seller directly. They are represented by their own agent. You need to work through your agent on this.
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Sun Feb 10, 2013
Scott Godzyk answered:
the key is no contingincies followed by teh least amount of contingincies. The banks will choose a lower offer that is guaranteed to close with no contingincies over one loaded with inspections etc. ... more
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Sun Feb 10, 2013
Suzanne MacDowell answered:
Have you spoken to a realtor? Are you sure the home is going to actually be auctioned off? Sometimes the auctions are put off while the bank and the owner attempts a short sale. Are you working with a realtor on the short sale? I would have them find out what's going on. If not a realtor, are you working with an attorney? Same thing, have the attorney try to find out what the situation is.

The problem is, once it's foreclosed on, they bank may not put it back on the market for years! it would really be in your best interests to try to hold the short sale together.
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Sun Feb 10, 2013
The Roskelly Team answered:
Hi Britt,

They will advertise the property in the paper. The auctions are "as-is" and purchasers who did not see the home previously will not be able to access it prior to the auction (usually). One of the big auctioneers in the area is so you might check their site for the info. There are lots of ins and outs to this type of purchase. Set a price based on a very detailed market analysis and don't go over it. Watch for terms like "subject to" that would make you liable for other loans or liens in addition to your purchase price.

If you have the cash you can get some great deals at the county courthouse steps!
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Thu Feb 14, 2013
Britt Grotheet answered:
Hi again-Just wanted to give a bit more background in case it helps someone answer the question. The owner abandoned the home about a yr ago. The home set to go to auction 1x before on July 5th 2012. The seller filed
a strategic chapter 13 bankruptcy and the home was not auctioned but placed as a short sale for $379,000. The seller owes $550,000. 2 leins both with Wells Fargo. Based on what we know about the sellers lifestyle (small business owner, cars, boat, vacations, renting a waterfront home) there is some question as to the sellers amount of
Hardship. We are specutating that his resistance to communicating with the bank could be due to this.
Now can any of you look into your crystal ball for us please??? We want this house!!!
Thanks britt
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Tue Feb 26, 2013
The Roskelly Team answered:
Hi Carol,

Are you planning on renting or buying? If purchasing, I'm not aware of any areas (other than some condo buildings) that would put a restriction on the number of pets. If you are renting, the difficulty would be finding a pet friendly Landlord. We do that all the time. Visit us on-line to view all homes for sale and rent homes and let us know if we may be of assistance. ... more
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Mon Jan 21, 2013
Jackie Grove answered:
The transaction is just like any other except the bank is the owner. I haven't seen any houses in Anne Arundel County for $2000. What area were you looking in?
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Mon Dec 3, 2012
Ron Thomas answered:
probably all of them:
the word we see is that most have a DOM of about 80 across the Country.
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Fri Nov 23, 2012
Richard Iarossi answered:
The compensation to the Brokerage is listed in the Multiple Listing Service. For a rental, it's usually all, or a portion of the first month's rent. The Brokerage then shares that with the agent based on their split. ... more
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Thu Dec 13, 2012
Fred Glick answered:
Sorry, HobbieCat,

This would never go through the Fannie Mae or Freddie Mac computer approval. Manual overrides are non-existant.

You can hopefully get more income for your rentals and show a bigger cash flow or sell and get under 45% and try again.

Good luck!

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