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Home Buying in Frederick : Real Estate Advice

  • All123
  • Local Info11
  • Home Buying38
  • Home Selling8
  • Market Conditions4

Activity 22
Wed Jan 21, 2015
Ron Thomas answered:
One of two things;
Either you lied to your Lender about your finances,
Or, your Lender turned a bind-eye to your situation.

This is the kind of thing that started the whole thing 4 years ago. ... more
0 votes 11 answers Share Flag
Wed Mar 13, 2013
Scott Godzyk answered:
It could be a waste of time.... They can only send one offer to the bank for approval. The sellers bank first has to approve the seller to even complete a short sale and then has to approve the sales price. usually if teh deal falls apart the whole sale falls apart. If you have a strong buyer broker who is willing to take the time to get exact info from the listing agent who is willing to share it, you could find out if the buyer is close to pulling out and thenm you could submit your offer but be willing to wait 2-3 months for the bank to decide. ... more
0 votes 10 answers Share Flag
Tue Dec 31, 2013
Nancy Milton Holtzscher answered:
Hi, Leeann: Elizabeth is right on all counts. I'd say the first thing to do is talk to a lender to make sure you're going to qualify for a mortgage and to find out what your comfort level will be with a payment. Don't forget to include the taxes, interest and insurance in your payment to get a realistic idea of what you want to spend each month.

Then find a Realtor you like and form a real partnership with her/him to find your new home. They can set you up with emails from the MLS in your preferred price range. That way, when you decide to go out looking in person, you'll know a lot about what type of home is available.

Also, make sure advance decisions about where you'd like to live. Buyers who are unsuccessful are often unsure about where they want to be geographically and it leaves them too large of an area of consideration, becomes confusing and ends in frustration. Location is a decision you can make before you start to look -- based on commute distance, school districts, access to services, proximity to family, etc.

Best of luck!
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0 votes 9 answers Share Flag
Thu Sep 27, 2012
The Roskelly Team answered:
Your banks appraisal is all that matters on value. They won't see or care about the current lenders BPO.
0 votes 5 answers Share Flag
Tue Feb 12, 2013
jspivey818 answered:
The bank is trying to obtain value on the property. Typically, the bank will accept or counter the contract after they get the BPO back. This would probably happen within 45-60 days.
Joanne Spivey, CDPE, The Buyer's Best Realtors, 301.874.5100
... more
0 votes 4 answers Share Flag
Fri Sep 28, 2012
Tim Moore answered:
Yes, normal for any house under contract with contingencies on it to be shown and a short sale has a contingency that the bank MUST approve the sale which is a HUGE contingency. Has the bank sent a written acceptance letter? Until you get that it can fall apart and the seller can look for back up offers up to the time it closes. Remember ---- it is still the sellers house and not yours. ... more
0 votes 13 answers Share Flag
Thu Mar 20, 2014
Kris Paolini answered:
If your real estate agent used the MAR contract and MAR short sale addendum, there is nothing that speaks directly to the BPO. As a buyer, you give the bank a specified number of days to issue an approval. If the bank does not issue an approval in that time period, the contract becomes null and void. After the bank completes the BPO, they should be fairly close to issuing an approval if all of the seller's documents are up to date. i hope that helps. ... more
0 votes 4 answers Share Flag
Mon Sep 17, 2012
C.quinones asked:
Most of all for answering them quickly!
0 votes 0 Answers Share Flag
Tue Sep 18, 2012
Richard Iarossi answered:
If you submitted an offer to purchase a home in Maryland, the earnest money deposit has to be deposited by the Broker when the contract is ratified. In the case of a short sale, the offer is ratified when you, and the owner sign it, not when the bank gives approval. ... more
0 votes 2 answers Share Flag
Fri Sep 21, 2012
Shanna Rogers answered:
Hi C.quinones,

I'm not sure about MD, but in CA it is NOT the normal procedure. The earnest money deposit check is not cashed until you have WRITTEN approval from all lenders involved in the short sale.

Shanna Rogers
SR Realty
... more
0 votes 6 answers Share Flag
Thu Sep 6, 2012
Tim Moore answered:
Your other post said you were putting an offer on a short sale and it was accepted. it was accepted by the seller but the bank has to agree and that can take MONTHS. If the bank is pushing it towards the foreclosure auction you may be totally ignored. The sellers agent might be able to convince the bank to accept your offer to buy it as a short sale but I would say you have a steep uphill climb to get them to do that. Once the foreclosure wheels turn it is hard to make them stop. ... more
0 votes 2 answers Share Flag
Sun Feb 12, 2012
Charlotte Savoy & The Savoy Team answered:
I would suggest asking for HUD's rejection of your EMD in writing? If you had a contingency in the contract for a review period of the HOA docs and didn't waive your right to review them, I would definitely have your Agent contact the listing broker for help in getting your EMD back. Good luck! ... more
0 votes 7 answers Share Flag
Fri Nov 18, 2011
Darren Ahearn answered:
Hello Beth-
Thanks for your question. Cannon Bluff is a small community of homes in Frederick- Ryan homes is building these. Let me know if you would like to go visit this area and I will be glad to help. 240-344-1713
I have not been over there in about 3-4 months but some are going up-
Cannon Bluff is within the Frederick City limits. Trash pickup is twice a week, but there is no recycling in Cannon Bluff, so if you are one of those people who can't stand not having recycling, don't come here.

Tuscarora Creek is the failed (foreclosures & auctions, etc) community in the front of Cannon Bluff. I more or less put blinders on while driving on Tuscarora Creek Blvd. At the end of Tuscarora Creek Blvd is a stop sign, but you can only left onto Chamberlain Dr, so that stop sign drives me nuts. Anyway Chamberlain Dr is mostly rows of corn, and then finally you get to Cannon Bluff, which is thankfully separated from Tuscarora Creek by all that corn.

Right now construction is moving nicely now that Ryan was able to get the permits thing fixed in later summer of 2008. Phase 1 is finished but Phase 2 is a little slow with ongoing building at a snail pace.

The best reason to buy in Cannon Bluff is the incentives and prices are quite a bit down. If prices have dropped, then Cannon Bluff is still a great place depending on how you commute to work. If you are lucky Pool Jones Road may be the fastest way to work, and that road is just fun to drive on.
... more
0 votes 0 Answers Share Flag
Sun Aug 7, 2011
Cathy Chapman answered:
Good Morning, Michael,

I work with a group of cash investors who flip property. If you are a cash investor, I'm glad to work with you. I used to live in Montgomery County (G�39;burg) for 11 years and have been in Frederick for 13 years now so I have a strong level of market knowledge in all areas of your searches.

If you go to, you can find searches that are already set up for Foreclosures with a specific link to listings by county: Montgomery, Frederick, Howard, Washington and Carroll counties. Peruse these links and let me know what you'd like to take a look at.

Also, on, you can find comparables for several communities are updated about every 2-3 weeks: Clarksburg, Villages of Urbana, Spring Ridge, Worman's Mill and Glenbrook in Middletown. These communities are highly desirable areas and would give you a quick flip if you can find the right ROI opportunity. These comparables are broken out by Short Sale, Foreclosure and No Bank Involvement so visitors to my site can get a quick snapshot of how pricing varies based on bank involvement. Often times you get your best deals in short sales and foreclosures. But Short Sales are going to tie you up for an indefinite period of time since there are no government regulated parameters around Short Sales. It could take 3 months to get bank approval or I've seen them go over a year to get bank approval. Investors should look for Foreclosures for their best deals unless you find an owner who is desperate and is priced lower than the market just to move their property quickly. This does happen and often times they are rehabs.

I welcome the opportunity to meet with you and your team to discuss strategy and see if it's a fit for all of us to work together.

Cathy Chapman, Broker Owner Agent
Signature Home Sales, LLC
301-514-6839 Cell
... more
0 votes 6 answers Share Flag
Tue Jun 21, 2011
Christy L. Fear answered:
No you don't....Tenacity is a brokerage firm and I am able to do all of the work for really don't want to have a ton of people pulling your credit etc...please give me a call and we can discuss this further.

Hope to hear from you soon.

Christy Fear 301-474-4242 x1286
... more
0 votes 14 answers Share Flag
Wed Jul 6, 2011
Staci Johnson answered:
There are condo fees associated with these properties. They range in price depending on the individual home. Were you interested in seeing one of the properties?
0 votes 1 answer Share Flag
Tue Jul 13, 2010
Scott Godzyk answered:
You would need to prove they did with teh intent to harm, if you purchased it and proved it you may have a case, but if you only are looking at it, you have not been harmed yet. Unfortanately most mistakes in size are either a lazy agent using previous calculations from another source that were not checked or actually measured by themselves or as honest as a miscalculation.

Square footage is a basic math calculatio by taking the dimensions and multiplying. If soemone is adding square footage that is not there, they are not helping anyone in the long run. You could always wrote a letter of complaint to teh managing broker of teh firm, however as far as illegal, you have tio prove it was deliberate and unless tehy confess, it is a tough chore.
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0 votes 1 answer Share Flag
Tue Jun 22, 2010
Kirk Craig answered:
You should really talk to a mortgage professional. They will be able to help you determine what you can afford. Plus if there are any outstanding items you need to clear up during the 6 months this would be the time to find out.

Kirk Craig
... more
0 votes 15 answers Share Flag
Fri Jan 15, 2010
Jenifer Mackley answered:
That should not be a problem at all. What she would have to do get a gift letter for the lender stating you will be providing the funds. I am a realtor licensed in Md. And Pa. If I can be of any assistance to get you/her going in the right direction please give me a call. Best of luck.
Jenifer 301-514-9810.
... more
0 votes 6 answers Share Flag
Wed Mar 4, 2009
Jonathan S Tucker answered:

Jon Tucker with RE/MAX 100. Did you mean Daytona Court rental for $1,400. It says 24 hour notice which usually means it has a tenant currently. I also put the listing info below. If this is not the right property, please email me.

Thanks, Jon Tucker, 443.538.4316,,

ML#: FR6995800 LP: $1,400
Ownership: Condo, Rent Total Taxes:
Date Avail: 01-Apr-2009 Ground Rent:
Type: Garden 1-4 Floors Area:
Style: Traditional Map Coord: 77
BR/FB/HB: 2/2/0 Tot Fin Sqft:
Lot AC/SF: / HOA/CC Fee: .00/97.95
Model: Yr Blt: 2005
Lvls/Fpl: 1/1 Vacation Y/N: No
Construction: Brick,Vinyl Siding
Basement: No,
Parking: Assigned
# Gar/Cpt/Assgn: //2
Heat/Cool: Natural Gas/Forced Air/Electric/Central A/C
Water/Swr: Public/Public Sewer
List Date: 03-Mar-2009 Update Date: 03-Mar-2009

Showing Information: 24 Hour Notice,Call 1st-Lister,Lockbox-Sentrilock, All Days, -
Company: Charles H. Jamison, Inc. Office/Fax: (301) 428-8200 / (301) 428-8133
List Agent: Franklin Jamison Home/Office: (301) 972-7161 /
Showing: Franklin Jamison Home: (240) 793-4309
... more
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