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Where can I find information about a short sale home?
Where can I find out, How much of the house is still owed? Market price for the area? Can you add closing clost to a short sales home? Does it really take up to a year to close or do the banks want to quickly close? Is there a rule to go by when making an offer for short sales home? First time home buyer, Please help!
Short sales are handled by Realtors. It generally negotiated with the lender. A short sale means something less than the mortgage amount. If the property has not foreclosed, the mortgage balance is private information. No it shouldn’t take a year unless the homeowner files bankruptcy. MAKE YOUR BEST OFFER ALWAYS. Don’t shoot yourself in the foot trying to buy a DEAL. If you want a deal, but a mobile home.
You can get more info here
References :
http://www.ezhomeassist.com
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LikeDislikeShort sales are handled by Realtors. It generally negotiated with the lender. A short sale means something less than the mortgage amount. If the property has not foreclosed, the mortgage balance is private information. No it shouldn’t take a year unless the homeowner files bankruptcy. MAKE YOUR BEST OFFER ALWAYS. Don’t shoot yourself in the foot trying to buy a DEAL. If you want a deal, but a mobile home.
References :
Realtor MN
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LikeDislikeThe short sell information is in your county tax records. They will show the last sale price, sheriffs sale price, short sale price, etc. The foreclosure notice in the county recorders office will show the amount of money the bank alleges is owed on the property. The sales price computes in tracking the increase or decrease in value of a piece of property for assessment purposes. All of those documents are public records and can be obtained by asking for them.
Once the bank has the property back, they will turn it over to a realtor to sell for them. You can look up the short sell information in the county records, and then make your offer accordingly.
Realtors won’t tell you the amount the bank has invested since they want the bank to keep using their office, and they are paid by commission. The more they can get from you, the more they are paid. The realtor above is prime example, falsely alleging public information is proprietary and advising you to pay more than you may have to.
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I have bought several pieces of bank held property. Most banks will settle for slightly less than their investment.
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LikeDislikeFind a Real Estate agent in your area that deals with short sales!
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LikeDislikeYou cannot find out how much is still owed, you can find out how much was originally purchased for, but not what is owed.
A Realtor can tell you the typical market price for the area.
I haven’t heard of a short sale taking a year to close, but it can take a few months.
Lenders obtain appraisals and BPOs to obtain market value on their homes, they typically don’t accept low offers.
References :
Oregon Realtor
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LikeDislikeI am taking it that you’re looking into purchasing a short sale, right?
A short sale usually takes 3-4 months, but it can take about 6 months too… it really depends on a lot of factors: lenders, how good the offer is, if the listing agent knows how to process a short sale. lenders technically should close quickly therefore that’s not what happens always. if you want to buy one, make an offer about 10% below fair market value, make sure you know if your offer is submitted or if listing agent is waiting on other offers first….
References :
http://www.homesolutioncomplete.com
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LikeDislikethe person who owns the house has to get permission from their lender to do a short sale. its not something you can do on your own. your realtor will know which houses are short sales and the amts. owed. they probally won’t accept any offers below whats owed. so you aren’t going to be able to haggle about price on a short sale.
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LikeDislikeVisit Here
http://www.ebuyershub.com
and check out the "Real Estate" Section
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Visit Here
http://www.ebuyershub.com
and check out the "Real Estate" Section
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