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Rowley : Real Estate Advice

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  • Home Buying5
  • Home Selling0
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Activity 9
Sat Oct 6, 2012
Shanna Rogers answered:
Hi www.michaeljohn1482,

I'm a little confused. You say the property is a foreclosure property and then say your Realtor is the listing agent and the owner. If this is a forclosed property, the bank is the owner. If it hasn't foreclosed yet and it's a short sale, the listing agent can't be the owner - the bank won't let the owner be the listing agent.

Now, if it's a short sale, the website the listing agent submits the offer to the bank on is most likely different than the website consumers access them through - some banks use a platform such as Equator or ResNet for submission of short sale offers, they don't use their 'bank' websites so the platform website may have been down?

Now, there are some agents who will hold offers hoping for better offers to come in but they may be doing that if they were instructed to do so by the owner (in this case the listing agent or if it's a foreclosed property, the bank). If they are just holding offers without being instructed to do so, that may not be ethical but how are you going to prove it?

Shanna Rogers
SR Realty
... more
0 votes 5 answers Share Flag
Sat Sep 15, 2012
Greer Swiston answered:
You should simply check the register of Deeds. All liens on the property would be registered there.
0 votes 6 answers Share Flag
Wed Apr 25, 2012
Frank Dolski answered:
Tue Jul 31, 2012
Lori Jewett answered:
Hi Jody,

Your agent should present the offer the day you write it up (or the date you put on the offer) because all of your other deadlines are calculated based on the date of the offer, including the seller's response deadline. Time is of the essence when it comes all aspects of a real estate transaction. ... more
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Tue Mar 30, 2010
Christopher Lawton answered:
Did you pay the PMI out of pocket or did you finaance it into the loan? Most FHA loans without putting 20% down charge you PMI with the monthly payment depending on the size of the loan the PMI amount changes, these days they allow for MIP which is up front PMI paid in advance this allows the payment not to be as high since they have the bulk of the money up front, I would chekc elsewhere as the bank most likely sold the loan and if you refi now they get wacked with a EPO charge which is substancial, please email my contact you will answer your questions a little better. ... more
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Wed Aug 5, 2009
Lori Jeltema answered:
It typically isn't a problem where I work but I am in VA and don't know MA will want to phone your closing attorney/title company asap on Monday. Explain to them how you want to take title. Don't wait till the closing table since everything is ordered and prepped in advance. There are most likely better qualified agents (located in MA) to address your question and may do so. Just remember to have your husband call the office Monday and clarify and give your info. Sometimes, one party ads the spouse to the title after closing but you have to go back and do it and it costs a little more. ... more
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Wed Mar 5, 2008
Michael Lefebvre answered:
This is common for SEVERAL areas in Massachusetts right now and has more to do with the current state of the market than any environmental issues in most cases. Especially in new construction where builders are often carrying construction loans. This is not to say there may be something else at play as well. Your best bet is to consult a qualified Realtor in the Rowley area. They will be able to give you valuable insight into this particular development. Rest assured, beautiful new homes sitting on the market and selling for below assessed value is not uncommon throughout the area in this market. ... more
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Sat Mar 8, 2008
Andrew Adams answered:
If you got what you wanted for your house you would be making a big mistake trying to get out of the sale.

I am suprised that you feel that there is not a lot to choose from. Salem Five is on the North Shore and I have not heard people saying the inventory is low. Which town are you move to or stay in. ... more
0 votes 14 answers Share Flag
Mon Jan 28, 2008
Don Tepper answered:
It's impossible to tell. Besides, even if the agents are telling the truth that another couple is planning to make an offer, it's not a "done deal" until the offer actually arrives in writing. But some agents have been known to say that they thought someone else was writing an offer just to prompt action from a potential buyer. Don't be pressured into doing anything you're not comfortable with. ... more
0 votes 13 answers Share Flag
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