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Richmond : Real Estate Advice

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  • Local Info62
  • Home Buying127
  • Home Selling23
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Activity 274
Thu Oct 31, 2013
Ryan Sanford answered:
Unfortunately the Fannie and Freddie guidlines now, you have to be three years out after the date of the foreclosure sale. I just went through this with several lenders for borrower I had a few weeks ago. ... more
0 votes 8 answers Share Flag
Wed Jun 18, 2014
Tina Beasley answered:
Maria,

This site is for agents to market their properties on. You will reach very few investor buyers in this forum. If you decide to work with an agent to help you market this property, I am available to help you. Good luck!

Tina Beasley
Associate Broker
Envision Real Estate, LC
804-972-9927
... more
0 votes 14 answers Share Flag
Thu Feb 16, 2012
Phil Rotondo answered:
If you list your property with a Real Estate agent it automatically gets listed here.
0 votes 5 answers Share Flag
Thu Feb 16, 2012
Lauryn Eadie answered:
Justin,

Being foreclosed on will NOT help you problems. If the bank forecloses on you they can come after you for the difference in the price they sell the home for and the amount you owe on the mortgage, and possibly the fees that it cost them to foreclose. I believe they have up to 7 years to do so. Before you make any decision on the property you should first contact your bank and see what options may be available for you.
2nd: you should contact a financial planner and a tax advisor to see how any move made could affect your future. You can also speak with a bankruptcy attorney and a loan modification company to gather more information.

It is not just a matter of walking away from the home, there are tons of implications to consider that could affect your families future.

It is a tough situation, that many families are in and unfortunately there is no easy solution.
... more
0 votes 10 answers Share Flag
Thu Feb 16, 2012
Vicky Chrisner answered:
Talk to your agent and read your contract. If the contract was contingent on financing, then you reasonably should have known that this was a possibility. If it was not contingent on financing, then you maybe entitled to the deposit and/or other damages. ... more
0 votes 9 answers Share Flag
Fri Jan 27, 2012
Angela Glatfelter answered:
My name is Angela, you can call me at 804-248-0710 or my email is angelag@htrsi.com. I'd be happy to help you.
0 votes 15 answers Share Flag
Thu Jan 26, 2012
Cathy Loving answered:
Mon Jan 23, 2012
Shirldean Callis answered:
You stated you will probably rent but not for sure. If you want to buy, I could help you. Please let me know if you are buying or renting. Thanks
0 votes 4 answers Share Flag
Wed Jan 4, 2012
Lisa DeFrancesco answered:
Hi Charlotte,

I would be willing to help locate available rental properties for you. I would just need to know what budget you need to stay below. Contact me at 804-243-0057 or lisa.defrancesco@napierera.com and we can get started.

I look forward to working with you ...

Lisa
... more
0 votes 4 answers Share Flag
Tue Dec 27, 2011
Lisa DeFrancesco answered:
Hi May657,

I did a quick search in the computer system for rentals that match your criteria, but did not find an "exact" match in Henrico County. I did find a 3 bedroom, 1 bath home in the East Highland area (southeast of Lakeside and Chamberlayne) for $849. Not sure how quiet the home would be as it appears to back to railroad tracks.

Depending on how soon you are wanting to move, I can set up a search in the computer to notify us if anything more appropriate becomes available. Let me know if that would be helpful ...

Lisa DeFrancesco
Napier Realtors ERA
804-243-0057
lisa.defrancesco@napierera.com
... more
0 votes 1 answer Share Flag
Wed Dec 28, 2011
Phil Rotondo answered:
try http://www.zipskinny.com
0 votes 4 answers Share Flag
Wed Nov 23, 2011
Scott Glass answered:
The best place to find these types of properties is MLS, which I and other realtors have access to. I'd be happy to help you in your search. Owner financing may also be an option as well as a traditional loan. You really need to talk with a lender to know all your options. ... more
0 votes 5 answers Share Flag
Sun Nov 13, 2011
Rachel Dammann answered:
I believe with a deed in lieu you can qualify in 3-4 years. It is best to call a lender that you would use for your next loan and ask them their requirements. It's best not to use the same lender that you had before because they might not be as forgiving or easy to get your next loan from.

Good Luck!
... more
0 votes 4 answers Share Flag
Wed Nov 2, 2011
Bill Coffey answered:
Hi Melanie!

I will help you if I can. What kind of professional help were you looking for? You can email me at BillCoffeyVa@gmail.com, or call me at (804) 852-7195. Thanks!

Bill
0 votes 5 answers Share Flag
Mon Dec 29, 2014
Tim Moore answered:
You don't find buyers, you find a Realtor to list the property and derive the value in its current condition. The Realtor then finds buyers for you by entering the listing in the MLS system where thousands of other agents will see it and send it to their buyers. The listing also finds it way to sites like Trulia, Zillow, Realtor.com, and 10,000 other websites where buyers can find it. That's how you sell it. ... more
0 votes 14 answers Share Flag
Sun Oct 30, 2011
Ron Thomas answered:
If you need to nail this down, I suggest you choose a Title Company and go visit them:
They will do a dummy HUD1 for the figures you give them, and you can see the total amount that you would need to bring to the Escrow.

Please contact a Realtor and have them represent you; it will cost you nothing, but not having them could cost a lot.

Good luck and may God bless
... more
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Sat Aug 13, 2011
Ron Thomas answered:
0 votes 8 answers Share Flag
Tue Aug 2, 2011
Charlotte Shirey answered:
Hi Sarah,
You would need to consult with an attorney. Give me a call if you need one in Richmond.
Sincerely,
Charlotte Shirey
804-869-4663
0 votes 1 answer Share Flag
Fri Feb 22, 2013
Don Tepper answered:
Consider taking Section 8 renters (if you don't already). Some investors love them; others have had bad experiences with them. But it's something to at least consider.

Offer a finder's fee or bonus to any of your current tenants who refer a new tenant to you. Tip: Don't pay the bonus or finder's fee until the new tenant has been in and paying rent for 3 months.

Consider using a Realtor to help find tenants. True story: I own a rental house. It's in a medium-income neighborhood. For maybe 10 years we (my wife and I) found tenants ourselves. That was way before I became a Realtor. The process was painful. We'd make appointments with people who'd never show up. We'd run ads describing the property, and callers would ask questions that were answered in the ad that prompted them to call. And so on. It was incredibly frustrating. Finally, we decided to just dump the mess into the hands of a Realtor who specialized in rentals. It's worked like a charm for 12+ years. We still manage the properties once the tenant's there, but we use the Realtor to find the tenants.

Considering offering the properties as lease-options, if you have any interest in selling the properties. There's a somewhat different mindset of people who want to buy, as opposed to just renting. And they're often willing to pay slightly more, too. Understand that a fair proportion of lease-options never go to closing--often anywhere from 25%-50%. So it's absolutely not a guaranteed sale. But it may well help you find tenants (actually tenant-buyers) who can pay the rent. There's another guy who posts here regularly from Virginia--Dp2--who I'd suggest you contact if the idea interests you.

Hope that helps.
... more
0 votes 13 answers Share Flag
Wed Jun 27, 2012
Veronica Taylor answered:
There are lots of "clean" foreclosures......what is the price range and area you prefer?
0 votes 2 answers Share Flag
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