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Foreclosure in Greensboro : Real Estate Advice

  • All453
  • Local Info61
  • Home Buying142
  • Home Selling18
  • Market Conditions20

Activity 11
Wed Dec 12, 2012
Fred Yancy answered:
You have until the end of your lease. Fannie Mae will honor your lease. However, if your lease has expired at the time of foreclosure Fannie Mae will give you three months.
0 votes 4 answers Share Flag
Tue Apr 10, 2012
Tim Moore answered:
What home? There is no home attached or mentioned so we can't answer that.
0 votes 2 answers Share Flag
Tue Apr 10, 2012
Josh Miller answered:
4272 Julius Court is a foreclosure in Trinity Lakes.

Would you like more information on it....our even like to see it?

Please give me a call at 336.215.8019.
0 votes 3 answers Share Flag
Sat Jan 22, 2011
Sally Grenier answered:
First things first, find a REALTOR to determine what you can get for your house and what the market is like in your area. Don't confuse "Market Value" with what you';d like to get out of it. Fair market value is what the house will sell for. Whether that's what you want or need is a different story. Then, once you determine if you can sell it, and what you'll get out of it, then you can think about buying something new. If you need the name of an agent in your area, I'd be happy to refer you to someone. Good luck!

... more
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Sat Nov 27, 2010
Josh Miller answered:
Hi Joy,

I have a few you will love!

Feel free to call me. :)

Joshua Miller
RE/MAX of Greensboro
Multi-Million Dollar Producer
0 votes 3 answers Share Flag
Thu Nov 11, 2010
Terri Vellios answered:
Are you talking about a short sale? Each bank is different. They have their numbers which work for them. If there is a second and the other cost involved, sometimes they believe it is better to foreclose. If this is the case ask to have it escalated to a supervisor, keep pushing, and document everything in writing back to them. ... more
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Thu Oct 7, 2010
Larry Story answered:
Well first you will need a signed/executed copy of the contract. Then your agent will submit that to your lender (if getting a mortgage). If paying cash they you will simply forward a copy of the contract to your closing attorney to prepare for the closing. You will probably want to do your inspections (home, termite, radon) as soon as possible. Most Freddie Mac homes if you are going to be an owner occupant are now offering 3.5% closing costs assistance so that is good.

Just keep in touch with your agent and make sure they are communicating with you on the timeline of things that need to happen.

Hope this helps,
... more
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Thu Jul 29, 2010
Anna M Brocco answered:
Do you have an agent of your own and if so what is he/she advising--It's not unusual at all for a listing agent to ask for a final and best offer if multiple offers exist, that9;s his/her job-- and not sure what kind of documentation you would like to see as to the other buyer involved-- that information stays private until it becomes public record. Keep in mind the bank wants to make as much money back as possible--usually the highest and best offer wins out and any other offer(s) can/will be considered back-up offer(s). If this is the property you must have-- are aware about of similar closed properties in the immediate area and what they actually sold for make a determination on the new offer based on the data. ... more
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Fri Aug 21, 2009
Larry Story answered:
Basically with short sales it is a game of patience. The short sale process varies from bank to bank so first it depends on how much the homeowner owes on the home and how many banks are involved. So did you know if there is more then one loan on the property? Your agent should be communicating with on the process. As far as the offer it varies also from bank to bank on how much they will accept as an offer. I have seen the banks accept as low as 27% so it really depends on the bank. As far as the deadline it is up to you if you have the patience to make this work. It sometimes takes over 90 days to get a short sale fully approved and closed.

Ask your agent if yours is the only offer in, and then ask if they have submitted to the bank. Now if yours is the only offer in has the seller signed it and do you have a contract?

You just need to be patient. I will say though if you are a First time home buyer and trying to get closed by November 30th to get the $8,000 tax credit this might not be the best thing for you to be pursuing.

Hope this helps,
... more
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Fri Apr 24, 2009
Debt Free Dave answered:
It depends on the bank.. that is a tough question to answer. All banks do things differently with their reo's
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Thu Mar 13, 2014
Brian Parkes answered:
First, do you want to be a landlord? It is all dollars and cents if it is going to be an investment... Talk to your local Realtor to see what it can rent for, what are your carrying costs, speak to your accountant. The market has turned in most areas and it depends if you are comfortable with the suggested sale price. ... more
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