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Newhall : Real Estate Advice

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Activity 5
Wed Jul 3, 2013
Emily Knell answered:
That's a tricky issue.

It sounds to me like you're on time with your mortgage payments yet you're approved for short sale, this is good for you. I have closed a few short sales where the owner is current on payments.

I would really need you to email me directly to give you the best possible answer.

I don't see why the buyer needs a THIRD extension? BUT it will likely be better for you, to let the current buyer close, if they can. It will take longer to get a new buyer approved, maybe 60+ days. Then again, I don't know how long it's been since your current buyer has been extending their close of escrow & how much longer they want the "4th" extension to close, to be. ?

I have a LOT of experience in this area, I'm happy to help. Please shoot me an email directly, I don't look back on this same Trulia posting for answers after mine.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
Short Sale Listing Agent w/ 97% success rate
100% Success Rate in CA
Closing short sales within 300mi of my home!
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Tue Jun 5, 2012
Laura Coffey answered:
Looks like you are in Newhall. I would recommend www.rentwithclassic.com Ask for John Everett.
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Fri Nov 19, 2010
Christopher Lefebvre answered:
The best thing to do would be to ask your bank for information on their loan programs and request an estimate for their closing costs. Just because they hold your current mortgage, doesn't mean they will have the best refinance deal now. You might want to talk with some mortgage brokers and shop around if your banks rates and closing costs end up being high. ... more
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Thu Nov 18, 2010
Dana Schuster answered:
First,let me ask--do you have an agent? As an agent,i get quotes from 2-3 different title companies. Closing costs vary from state to state. i will never forget my first closing.The buyer(my client0 was using a funding source based in virginia where closing costs are much higher than here in louisiana.They gave him an estimate for closing costs at something like $6100. he came to me in total shock. i went back & forth ibetween 2 diffeerent title companies & was able to negotiate a bit & we ended up at something like $1175.
In Louisiana(don't know how it is in your state) the choice of title companies is entirely the buyer;s--so you probably can get quotes(or get your agent to do this) from different companies. In louisiana,title insurance is optional but I urge my buyers to purchase it--it's well worth the cost. The sellers may believe in all good faith that they are presenting you with a clear title,but down the line things can be fouled up by something as simple as a misspelled name 60 yrs. ago--long before they purchased the property Hope this helps--but someone from your state can probably give you a more specific answer.
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Mon Nov 29, 2010
Keith Sorem answered:
Jahari
Do you have a Realtor representing your interests?
Or did you make the offer through the listing agent (L/A)?
Normally the L/A has a fiduciary duty to present all offers. However, in some cases (REOS) the lender will want to give the property some time to "season" on the market. Meaning that the lender (owner) may have asked that the L/A "collect" the offers so they can be considered at one time.

This makes comparing the offers easier. In some cases being first is not being "best". That is why working with a buyer's agent may "help " you. It is not uncommon to have listings, properly priced and marketed, to be in a "multiple offer" situation, and in that case you need a seasoned Realtor to help you"wine the listing" if that is what you want.

If you are represented by a REaltor OTHER than the L/A,. then they should be able to find out what is going on.

Good luck!
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