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Home Buying in Seattle : Real Estate Advice

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  • Local Info115
  • Home Buying477
  • Home Selling97
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Activity 299
Thu Nov 1, 2012
Shane Milne answered:
Sounds like GMAC may be reviewing to make sure proper foreclosure proceedings occurred. A friend of mine had a similar issue buying a home from HSBC - see http://www.trulia.com/voices/Home_Buying/Is_anyone_involved_in_an_sale_owned_by_HSBC_-299974 for the details. It worked out for them, hope it works out for you. ... more
0 votes 4 answers Share Flag
Wed Jun 29, 2011
Dave Skow answered:
best to address this ASAP with the real estate agents and seller( fnma ) ...get this addressed in the form of an addendum to the purchase contract......make sure that your lender is aware of any changes that might be happening ... more
0 votes 10 answers Share Flag
Mon Jun 13, 2011
Ray Akers answered:
Without knowing all the details of your transaction, I cannot say for certain that there is any wrongdoing on the part of the selling broker/office. Is it possible there is some issue outstanding that needs to be resolved which prevents mutual acceptance? Do you know for certain that the documents were delivered to selling Broker's office in a timely manner? One clue; if your Realtor/Broker is requesting the change of status, that's a good indication they believe you have "mutual agreement" and the status should be changed to "pending" or "pending inspection" or "pending back-up requested". If the listing Broker fails to follow procedure the Northwest Multiple Listing Association may issue a fine or other penalty in order to obtain compliance with the NWMLS rules to which all members agree.

Hopefully, this is a minor oversight by the listing agent/Broker and not an indication of a larger problem.

Good luck.
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0 votes 12 answers Share Flag
Fri Jun 24, 2011
Bill Eckler answered:
Something smells.......the legality of this scenario should be left to the legal system. It sounds like you have been responsible and done everything that was asked of you.

Unfortunately, seeking legal assistance is going to cost you more money but for "peace of mind" it may be worthwhile to process this with a good attorney.

Good luck,

Bill
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0 votes 16 answers Share Flag
Wed May 11, 2011
Craig Blackmon answered:
The rights and obligations of the parties are set out in the agreements between them. So what does your lease and option say about changes to the property? If you aren't comfortable figuring that out -- legalese can be pretty dense -- then you need to consult an attorney to get an answer. This certainly does not merit much if any in legal fees, but since you are in Seattle you can make an appointment at the Neighborhood Legal Clinic -- http://www.kcba.org/pbs/NLC.aspx -- for a free thirty minute meeting with an attorney. Make sure you bring your lease and option to that meeting! ... more
0 votes 5 answers Share Flag
Sat Apr 16, 2011
Maria Morton answered:
That varies from company to company and case to case, Nikki. Your real estate agent should be able to help you get some answers. I usually recommend a closing date 30-45 days from contract for most buyers. Cash buyers may be able to close quicker; those using some of the grant programs may need 60 days. 28 days seems a little fast but if that's what your agent and lender told you they could do, keep checking back. The other thing I like to do with clients who listen is to get them pre-approved through a lender who has a proven track record with me and my clients. That way if the lender the buyer chose cannot perform, the one I recommended will already have the info they need to take it to underwriting. ... more
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Tue Apr 5, 2011
David Sprague answered:
0 votes 11 answers Share Flag
Sat Feb 26, 2011
Kary Krismer answered:
Call the title company and find out. Their number should be near the top. But my guess is the state's Internet site wasn't working at the time they did the report, or their court access link, and that they will update it later. ... more
0 votes 12 answers Share Flag
Mon Feb 14, 2011
Fred Glick answered:
Welcome to 2011!

As fraud prevention, the lenders cannot give you a loan until you are there and have a pay stub.

I know it makes no sense, but there were too many bad loans where people lied and the lenders got stuck with them.

Best of luck!

Fred
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0 votes 9 answers Share Flag
Wed Feb 23, 2011
David Smith answered:
Jerry,

I believe the loan you are talking about is the 203k loan. This is a federal loan just like other FHA and VA programs so lending limits should be the same throughout lending institutions. Your best bet would be to check with your local lender. If you need a referral to one I would be happy to provide that.

David
Real Estate Broker
www.bigsoundhomes.com
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0 votes 8 answers Share Flag
Fri Jan 28, 2011
Leslie Reed answered:
Welcome to Seattle! There are no taxes on home purchases as a buyer and the property taxes vary based on assessed value of the property (you will have to inquire about each property individually). There are no restrictions on buying as a non-resident, other than the lender requirements. I would recommend contacting Susan Romei with Sterling Savings Bank at 206-287-5775 to find out the qualifications to purchase. Please let me know if you need help in your home search. ... more
0 votes 6 answers Share Flag
Thu Jan 27, 2011
Sally Grenier answered:
Why rent-to-own instead of just buy? Rent to own is usually not a great deal for the renter/buyer. You could get locked into a purchase price that may be way off in a year or two. Have you tried getting pre-qualified for a mortgage? It doesn't hurt to check, and you might be surprised at what you can qualify for. Let me know if you'd like the name of a good mortgage broker. I can also refer you to a Realtor in your area if you'd like. Good luck!

Sally
sally.grenier@coloradohomes.com
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0 votes 1 answer Share Flag
Tue Dec 21, 2010
David Marcoe answered:
If you bought Title Insurance, the title company should defend your ownership title and pay off any lien that is not yours unless you agreed to assume someone elses debt on the property (not likely). The title company is hired by you at closing to dedfend your right to clear title, if they mad a mistake it is their duty to defend it.
Banks are relentless in the pursuit of what they feel is theirs so don't let time slip by without contacting the title company and if there is no title company then hire a good real estate attorney.
If the builder was in default you may also want to check the title again to see if a 'Mechanic's Lien' was placed on the property by a sub-contractor who was not paid.
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0 votes 5 answers Share Flag
Fri Dec 27, 2013
John Stewart answered:
You can find that informatin on the King County Parcel Viewer website. http://www.kingcounty.gov/operations/GIS/PropResearch/ParcelViewer.aspx
0 votes 10 answers Share Flag
Wed Oct 13, 2010
Dan Tabit answered:
Hi Wanta Know,
I tell my sellers to consider all offers a compliment, and a contingent offer as a concession. When an agent calls to find out if we will consider a contingent offer, I always say it depends on the offer, the home the buyer has to sell, the track record of the agent in getting listings sold and the price they intend to market the home at.
With average market times being longer than a few years ago, the contingent buyer has to be aggressive in their pricing and marketing for me to advise my client to take it. The purchase price offer has to be attractive and worth waiting for.
Contingencies are working if everything is done right, but you have to build a compelling case.
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0 votes 23 answers Share Flag
Wed Dec 8, 2010
Keith Zeiler answered:
Derek,

Yes depending on the bank they do force the buyers to use their escrow companies. To be honest with you I am not a fan of this because i dont like the YOU HAVE TO. But in the long run it always works out better because that person does so many reo that they know how to make sure title is clean, how to deal with the banks on the paperwork. Some even use a system that some escrow companies do not have access to.

So as someone who who lists and sells alot of reo it always ends up being less of a hassle if you use their escrow and title.

I hope this helps
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0 votes 23 answers Share Flag
Mon Sep 6, 2010
Scott Godzyk answered:
Esther your question did not come through, please log back on and add your question. We look forward to being able to help you.
0 votes 1 answer Share Flag
Mon Sep 6, 2010
Brett Frosaker answered:
Yes, you own shares of the corporation with exclusive rights to the unit. They are passed on in the same manner as if it were a condominium. It is good to work with a broker who understands co-ops. Though you live in it the same as a condominium, there are many differences. Let me know if you need help with a purchase.

Brett

Brett Frosaker
Broker
Columbia Real Estate Group
206-755-7858
BFrosaker@Columbia-RE.com
... more
0 votes 2 answers Share Flag
Wed Sep 1, 2010
Tonya Brobeck answered:
The question and answer section of Trulia prohibits self promotion. You should think about publishing a blog regarding this subject and your services
0 votes 1 answer Share Flag
Fri Aug 20, 2010
Suzanne MacDowell answered:
I am not sure how it works in your area but here in New Jersey taxes become a lien on the propoerty that must be paid at the time of closing by somebody, usually the seller, but I have seen some situations, short sales being the most prominent, where the seller just doesn't have the money and teh buyer has to be sure all liens, not just tax liens, are satisfied in order to receive clear title to the property. The other liens can be negotiated, but tax liens are treated differently and my understanding is they must be paid, by somebody, at the time of closing.

I am not sure what happens when they don't pay the insurance,, let us all know, I am curious.
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