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Foreclosure in Boston : Real Estate Advice

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Activity 33
Fri Jun 4, 2010
Dianne Hicks answered:
Dukediver
1, First there is no why for us to know without knowing the address and the price you offered to see if it will have issues with appraiser.
2, I personally think if it can appraise, it should not be an issue. I have not had a problem asking for money towards closing cost most of the time
3, Brace yourself for a whole lota patience because BofA has yet to show they can move fast on any of these transactions. They seem to be notiously slow and that is all I can say about them and still be nice,
4, Are there mulitiple offers in front of the bank? Most agents submit only 1, so no worries there unless listing agent submitted more than one.

Good Luck!!!
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Wed Jun 9, 2010
Scott Godzyk answered:
John your bets bet is to get a buyer broker who will look out for your best interest and can assist you in finding properties that suit your needs. You can usually hire a buyer broker at no cost to you, theyget paid from the listing agnet at time of sale. You really want some one on your side if you are buying a foreclosure or short sale. ... more
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Sun Jan 24, 2010
Terri Evans answered:
I have a co-worker that I know very well that works at Keller Williams Realty in Boston, MA. Lisa handles the North Shore (Essex and Middlesex counties) and Greater Boston. Please call me or email me and I will give you their contact information.

Terri L. Evans, GRI Realtor®
Keller Williams Realty
304-261-1186 Cell
Licensed in Virginia & West Virginia
Please visit my website www.WinchesterVaHomes.com for Free information.
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Tue Sep 29, 2009
Ken Lambert answered:
Hello Moussa- Good luck with this home. Is it in good shape? Is it liveable right now? These are important things- especially for your new mortgage lender. I assume you'll need a mortgage. If you have any questions on that end, please contact me. Thanks, and good luck,

Ken L.
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Wed Dec 28, 2011
Scott A. Nelson answered:
I have a list of property managers, send along your contact info & I'll scan & email or fax it over to you.
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Fri Jun 4, 2010
Minna Reid answered:
I don't believe it is illegal.
Some may argue it is unethical or the banks won't allow it, but the answer all depends on who you ask.
However I have never seen a bank issue a short sale approval letter that states it must be an arms length transaction.
Now I am not suggesting that everyone should run out and have their relatives buy their overleveraged property. I'm just saying I don't see how it is illegal unless the bank specifically says in writing it is prohibited.
If the bank has not prohibited it, and they approve the sale, and you have done nothing to hide the fact that your brother is buying what exactly is illegal about it?
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Thu Apr 30, 2009
Dallas Texas answered:
GREAT QUESTIONs. however no the agent can't work direct with bank or their attorney. There are standard procedures must be followed. With any foreclosure/short sale/ preforeclosure always drama bank may never responded to your offer if there is a bidding war on the property you are not the top bid. If you dont hear back keep looking at times your have to submit multi offers on numerous properties to secure winning bid. Sorry to hear all has nothing to do with the agents, it is the bank, your are treated no differently than any other contract submit for a purchase.
Good luck ! http://www.lynn911.com http://www.homes-for-sale-dallas.com
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Sat Sep 27, 2008
Yvonne Pinkey asked:
the challenge the bank brought up is we cant change the value of my home after the my chapter 13 plan was confirmed. The value dropped 135K. So is there an argument for the judge that s...
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Mon Sep 8, 2008
Helene Moore answered:
Hi Kim,
In my experience as working on both sides of the transaction it has been much easier getting offers accepted by the bank foreclosure than dealing with short sales. Again this has been my experience. The banks seem to respoind quickly if you write a clean deal ....
Good Luck
Helene Moore
Las Vegas NV
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Fri Mar 21, 2008
Jonathan Bowen answered:
Hi Kim, every instance is different. You most likely need to physically read the foreclosure notices in the newspaper or sign up with a real estate agent who has access to the MLS to get a list of properties that are going to be auctioned. Even signing up for the MLS with a real estate agent isn't fool proof. You will still need to do some legwork. If you would like more information then feel free to contact me. ... more
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Tue Sep 28, 2010
Sean Waters - Sotheby's Realty answered:
There are many wonderful lofts in the Boston area. Your question is a difficult one to answer. Whether a property is a traditional condo or a loft, all market forces affect the "near-term outlook". How do you define "high-end"? Right now in Boston the "high-end" market, whether condo or loft, is doing very well, as the affluent are not affected by mortage rates and fluctuations in negatively percieved property values. In reality, despite the negative news reports, all of the properties I have sold in the last few years, and in particular this summer and autumn, have all sold above what they sold for last year. If you are smart, you will have saved at least 20% to put down on a property. If you have this amount, then you are ready to buy, and ready to negotiate for a property you want, need, and desire. The near-term outlook can be a series of guestimates. No one really knows. A few things are known however; you can write off your mortgage interest, and you are no longer throwing money away on rent. And there is nothing quite like owning your own property. It is the greatest feeling in the world. It is like being in love ... all the time. It is grounding, you call the shots, you don't have to answer to a landlord. And you build up equity, and your real estate portfolio too! (Please do your best to never sell your properties as you upgrade) A loft is a great property to hold onto and rent out, when you move on. A loft is a wonderful space to live, -- the near-term outlook in my opinion is not any different than a condo. The city has limited space for quality well priced properties. You need to work with a Buyer's Agent who has experience negotiating condos and lofts in the Boston market. A good agent who knows how to approach the parties in question and can make all the difference in winning you a loft at a good price so that you won't have to worry about when the perfect time to buy is. Have your agent show you many lofts in loft neighborhoods and new emerging loft neighborhoods, and you will begin to see which lofts are a good value, and you will be able to determine what the near-term out look is. There are many factors to look at. Keep it simple. Save your downpayment, find that ideal loft with your agent, and never look back. ... more
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Fri Jan 4, 2008
Pam Winterbauer answered:
Ask your Realtor to refer you to a Realtor in the Worcester area for determine what the schools, neighborhoods and area are like. Also the Chamber of Commerece can provide you with some of your required information. Good luck on the move. ... more
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Mon Mar 24, 2008
Gerry Bourgeois answered:
I am starting to see them coming back out in Central Mass., however we are much more affordable here.
0 votes 28 answers Share Flag
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