Depending on the area and if you have to pay a dump fee....anywhere from $100-$200. If this is a foreclosure and you are being hired by the broker then sometimes the bank will only pay a certain amount and there is no negotiating that. Good luck to you.... more
Hi Mary- Depending on the business you are trying to start i would suggest you speak with your accountant first. You could need to open a s corp, LLC, or a few others to make sure that you are getting the best tax benifits and decrease your personable liability.... more
The lender can add the past due payments to the back end. Always ask for management. If they refuse ask to speak to the short sale department and again present your proposal
Don't give up
Steve Busse Cpde www.stevebusse.com... more
Dear Angelia Thomas. Not sure what the Laws are in your State, I'm in New Jersey which is truly pro Tenant! With that being said, doesn't matter what State you are in TENANT039;S HAVE RIGHTS! President Obama has addressed this issue on a National level because of the large number of Foreclosed homes being occupied by Tenants! There should be a State Agency that you can contact to find out what your rights are during a Foreclosure. Sometimes the Tenant will pay the Bank direct and the Banks have allowed Tenants to continue to occupy the property. It is a different world out there!... more
A loan modification is between the owner and lender so it's up to them. If the landlord sells the property (aka short sale) the new owner will be required to honor your lease until expiration. If the bank completes a foreclosure and obtains title... a local realtor will contact you to see if you're interested in a cash for keys transaction. This is when you agree to move out by an agreed upon date and leave the property in broom swept condition. In exchange on the move out day the realtor will return with a check for your cooperation. If you refuse the cash for keys the bank will evict you. Even if you agree to cash for keys an eviction will be started to ensure that if you don't uphold you end the bank hasn't lost any time so don't be alarmed if you agree to cash for keys but still receive eviction papers. The banks prefer to work with you!
I am not a lawyer and therefore this is not legal advice... merely information regarding local proceedures.... more
you could go to the search page of the Pinellas County property appraiser and search the name
or you can go to Pinellas County Clerk of the Court-small claims/civil
look up the name and it should give you the case number
Hope that helps
Re/MAX Metro 727-647-4895 if you have any further questions... more
Marsha, the banks are not going to deal with you- you can call them all day every day- and unless you have 500,000,000 bank roll - they are not going to work with you. Its not that they don't like you, its just because they have hired a Realtor to handle the property.
If you are not a very experience investor, you should NOT be trying to buy investment properties by yourself.
and your questions tells me you are not a experienced investor.
Banks list the homes with Realtor, and you should get a Realtor to help you - costs you NOTHING- but having a feet on ground Realtor can save you tons on money and time.
The easiest way to do this is to find a real estate professional that you feel comfortable with and ask them to set you up on an automatic search that will send you all properties that meet your criteria, including short sales and foreclosures. A real estate professional can help you weed through the listings to find the ones that meet your needs. This can save you a lot of time and money in the long run.
I assume you're looking at RealtyTrac? It's impossible to tell.
I can tell you it does NOT mean $100,000 and take over the payments. That would be assuming the mortgage, and few mortgages are assumable anymore.
It could mean the sales price is $100,000, though that's unlikely. It could mean that the amount owed is $100,000. Or it could mean something entirely different.
Many of the RealtyTrac homes aren't even for sale. "Lis pendens" means "suit pending," and in this context often means a pending foreclosure. See http://en.wikipedia.org/wiki/Lis_pendens It has nothing to do with whether the property is even listed. Just means it's probably heading to foreclosure.
If you see a property you're interested in, ask a Realtor to check into it for you. He or she can tell you if it's even listed and, if so, what the real price is.
Bank owned properties are just that. The bank owns them. The received them back either through foreclosure or sheriffs sale or however. The own them and have title to them. If someone is buying a bank owned property they are dealing directly with the bank. They usually go a little quicker than a short sale.
Short sales are when the seller still has title to the property but is trying to sell it for less than what they owe on it. They are asking the bank to forgive the difference between what the house sold for and what is owed by the seller. Offers are presented to the seller and everything is done the same way as any buyer seller transaction, except for one difference. Once the contract has been accepted, then the seller needs to get the bank to approvel the offer. The offer from the buyer is a "contingent upon bank approval" offer. The bank will either accept the offer or they can deny it. This is why short sales are taking longer. Not only do you have the time frame with the seller, but then you have to wait for it to go to the bank and get their response.... more
A bank owned property is a term used in real estate to define a property foreclosed on by a bank or mortgage company and the ownership is now the bank or mortgage company. A bank owned property is often the result of a situation where the owner defaults on their mortgage. These types of properties can be homes, commercial properties or land and they often are called REO properties or "real estate owned." I recommend if you are searching to purchase these properties you work with an experienced Realtor as your buyer broker.... more
Beth, first of all, the status showing in MLS has nothing to do with the short sale. There are two distinctions for properties under contract: "Active with Contract" and "Pending Sale". ANY short sale which has offers accepted by the seller (meaning the person with their name on the deed, not the bank) should be listed as "Active with Contract", pending lender's approval. "Active with Contract" means that the property can be shown and other offers considered, depending upon the terms of the contract in negotiation. It also means that the bank may come back with a counter offer, rather than an acceptance of the contract as it stands.
A "Pending" sale, on the other hand, is fully approved--if the listing agent has placed it under "Pending" status, they are pretty confident that the sale will be approved, and no further negotiations will take place. When the status is "pending", only the last few contingencies such as inspections or loan qualification must take place before the closing happens.