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Plainville : Real Estate Advice

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Activity 4
Sat Jun 9, 2012
Alysa OHara answered:
H:

There is currently one condo on the market on Willow Lane. It is a short sale and has an accepted offer; the sellers are waiting bank approval.

The fee for 87 Willow Lane is $246, it includes: Master Insurance, Exterior Maintenance, Road Maintenance, Landscaping, and Snow Removal.

If you have any other questions orwould like to take a look a condo, I'd be glad to help. You can call or email me at alysa.ohara@gmail.com or 781 249-6336.

Have a great day!

Regards,
Alysa O’Hara, Realtor, CBR, MBA
Bradford Realty
Direct: 781 249-6336
Office: 781 356-6565
Fax: 617 639-5788
Website: www.bradfordsells.com
E-mail: alysa.ohara@gmail.com



Search thousands of homes instantly at www.bradfordsells.com
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Sat Feb 9, 2013
Stephane Allinquant answered:
Unfortunately the bank can foreclose even during short sale proceeding even though most banks hold off the foreclosure when a short sale is offered. It could be that the bank has had this property in delinquency status for so long or that the seller has gone back an forth with the bank and now the bank is cutting the cord. Remember a short sale is a negotiation with a bank to accept less for a debt which was leveraged by a property. Thus a bank can choose to speed things up or slow them down depending on a sellers intentions or their own interests. The whole issue with a short sale is not the house but the mortgage and if the seller abandon a property the house is taken as collateral. Unless you or the bank can get in-touch with the seller it looks like you may have lost this property. The Sellers still own the property and thus must settle on the sale for you to own it. You can't go around that and make a deal alone with the bank with out their authorization even with their acceptance and or if you remedy the mold yourself. In your case I would do everything I can to get in-touch with the sellers or your not going to settlement. Please know that I am an agent in Virginia and don't know what specific laws you have in Mass. so I would recommend you ask your agent what to do and if they don't know ask them to find an agent who does. Also I would recommend not putting an offer on another property as you still have a contract in place and the sellers could pop up at the last moment. Ask your agent how you could get out of the contract if even possible with Mass. law. I'm sorry I couldn't be of more assistance. Good Luck. ... more
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Wed Mar 2, 2011
Steve Boucher answered:
are you working with a realtor as your buyers agent?
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Tue Aug 25, 2009
Grace Hanamoto answered:
Hello Rose and thanks for your post.

I had a very similar situation occur a few months back when my buyers were purchasing an REO property. There were several section 1 items noted on the termite report that the lender was requiring be resolved before close of escrow, and the bank flatly refused to let us on the property.

What the listing agent finally had to do was to talk with the asset manager and to get their list of "conditions" to allow for repairs. Those conditions were:

1. The listing agent had to be present during the "entire time" that the contractor was on site making repairs
2. Only a licensed contractor would be allowed to make repairs
3. The listing agent had to pay the contractor or pay from the trust funds available to the agent
4. The buyers reimbursed the agent for the fees.

So there are definitely ways around this, but you'll need to work closely with the listing agent to get the repairs completed. The listing agent will need to work with and negotiate with the asset manager to get the conditions for repair. Most of the banks will let the buyer''s contractors (not the buyer personally) make repairs.

Good luck!

Sincerely,
Grace Morioka
Area Pro Realty
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