Foreclosures

Who pays the fees in a short sale?

September 20th, 2011 \\ Blog, Foreclosures, Short Sales \\ Tagged: , , , ,

The sellers mortgage company pays the fees in a short sale.  They will pay upto 6% in realtor commissions and the sellers closing costs.  All costs have to be approved by the sellers mortgage company.  Some agents may charge additional fees that are not covered by the sellers mortgage company.  In addition most Real Estate [...]

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Home buying tips

September 19th, 2011 \\ Blog, Foreclosures, Short Sales \\ Tagged: , , , ,

There are a slew of different first time home buyer programs out there that will help with their down payment.  There are also fix up loans that will give you a low interest rate to be able to have the funds to improve the property.  FHA is the cheapest way to get into a property [...]

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What is the difference between a Foreclosure and a Short Sale

September 14th, 2011 \\ Blog, Foreclosures, Short Sales \\ Tagged: , , ,

The biggest difference is time.  With a Foreclosure you will hear back on your offer within a week.  With a Short Sale you are looking at a waiting period of upto 3 months.  Fha, Dva and Hafa short sales are preapproved short sales in which you will hear back in about a week or so.  [...]

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3 benefits to buying a foreclosure

September 12th, 2011 \\ Blog, Foreclosures \\ Tagged: , , ,

1.  You can usually get a pretty good deal on a foreclosed home vs a traditional sale. 2. Response time from banks is usually 48 hours vs 3 months with a short sale. 3.  Certain cities have down payment and fix up money for buyers purchasing a foreclosed home.

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