Posts Tagged ‘short sales’

Why are the banks taking so long to approve short sales?

September 27th, 2011 \\ Blog \\ Tagged: , ,

One would wonder.  2008 it could take 6 months to a year.  2009 they did get a little better with about a 3 month turn around time.  2010 wow 30-45 days.  2011 back to 60-90+ days.  It will take longer if there is mortgage insurance involved, however the banks say it is because they are [...]

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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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Helping clients through difficult times

September 15th, 2011 \\ Blog \\ Tagged: , , ,

Short sales are not an easy task.  They prove to be very time consuming on the realtor, buyer and seller.  The seller is in a position of trying to do the best thing for themselves and the mortgage companies involved.  However, the mortgage companies do not make it easy on them.  Short sale sellers are [...]

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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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Is now the time to buy investment property?

September 6th, 2011 \\ Blog \\ Tagged: , , , , , , ,

Now is a GREAT time to buy investment property.  Low rates and Low home prices= great time to buy real estate.  With all the short sales and foreclosures on the market your bound to get a spectacular deal.

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