Profile picture for Terrie Hoyle

Terrie Hoyle

Agent

Realtor & Consultant-Auctioneer, Real Estate Florida & Ohio (27 years experience)

1 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Foreclosure,
Short-Sale

Advice

  • (22 Contributions,
  • 1 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

When buying a home that is in pre-forclosure do I have to deal with the bank specifically or can I g

Answer

Jeff Metcalf has it right. If there is a legal action pending against the home, there are ways to delay the process for a lengthy amount of time. For example, Florida is one of those states and it can take some time to get through the entire process.You can try to contact the lender and ask for the Special Assets Dept., Foreclosure Dept, Short-Sale Dept. etc. however working directly with a lender is very difficult unless you know someone and you've bought or wish to buy multiple properties.None of it makes any sense, I know but the lenders usually deal with Servicing Companies that actually make money expediting this process. There are attorneys involved and well, you get the picture.I've seen homes sit and get in bad shape while this process is being done. That's a pitty because it reduces the value of the home and makes for much more renovation and even in some cases should be torn down.(The lower dollar/older homes often have this happen.)If you wish to buy a foreclosure, I recommend using a Realtor that has some knowledge of this process and has sold them in the past. It can get complicated, there are lengthy addendums, sometimes HOA fees to prorate and other items you need to be protected if you're not experienced buying them.If buying a short-sale, you can also find those through your Realtor.That is also a lenghty process in most cases and certain rules applly.Much Luck and if you're looking in SW FL, give us a call [contact information and hotlink removed by Zillow moderator.]

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Short-sale seller took out Washer/Dryer before closing even though it was in the contract.

Best Answer

Only recourse is to Sue the Seller. They are probably not collectable so then you figure; how much was the washer & dryer worth. How old was it and was it a special size.Of course you can pick them up cheap these days as used however I agree with you, this is underhanded and I would let all of the neighbors know. This will at least embarrass them. Is not having the qwasher & dryer worth not having this home?Life can be full of pragmatic decisions sometimes but if you really like the house, go ahead and close.Can you locate the seller right now? It has not closed yet as far as I understand it and the title company must have some contact information for them somehow.The lender is of no use so don't waste your time there.I also agree though that I would make some noise and stomp my feet, even if it ends up being just for show. (Shhh; Don't let anyone know that part.)Sorry about your experience. They emulate many of our politicians such as the Whitehouse. Liars!Try and put it behind you if that's the only thing wrong. Be the bigger person.The Realtors try to keep things on a smooth playing field and almost always do.This is one that just got away.Make it a great day and good luck in your new home. You most likely got a good buy so look at it that way.Take Care!

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How do I find a home by MLS#

Answer

The most accurate way is to hire a Realtor that knows the areas, communities and how to use the MLS. If you're loyal to your Realtor, a good one will be loyal to you and work very hard to find you the best home in the area you desire at a good price.If you prefer to work on your own without being in contact with an agent at first, use a good website that will allow you to access what is known as an IDX service.An IDX service has access to the MLS and is pretty much up to date.For example, in SW Florida where I focus (It's a fairly large area.), my websites have free access to use an IDX service. You can see what I mean by going to http://www.homespuntagorda.com    Click on the second link down and it will allow you to enter criteria to keep your search and results relevant to your desires in a property.  The link will be on the left and say: "MLS Search".This way you can get to know prices, areas and much about the market area(s) you're interested in.Some websites require registration. (Mine does not.) We understand that when you first start shopping, you're mostly curious about several things and just need some basic information prior to moving forward and getting more in-depth.There's no replacing a good agent/Realtor however. In nearly all cases  that I know of, the cost to the buyer is free or nearly free of charge so there's no advantage of not using one.I used to feel that way but now when I walk into a store, one of the first things I ask for is a representative or person that can help. It saves me time and much looking around.Keep in mind however that the information, even in the MLS can change often, especially in active markets so the most up to date info is always through an agent. The MLS has rules in place in every state that I work in that states an amount of time that the parties have to keep the information current. If the listing agent does not update the listing status and information in a timely fashion, it may not be accurate.Save yourself the time and trouble. Your time is worth something too so use a Realtor and Good Luck!BillThe According To Hoyle GroupYouor SW Florida Real Estate Connection941-235-3528

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For Short Sale to go through 2 years ago, I had to hold 2 months mortgage payment.

Answer

Typically, 3 years and possibly 4 for others. I have seen a few go through at 2 years however those are rare now. You should focus on getting your score up and then try. Be sure to speak with a good lender that does loans with past credit history issues. See how many they've done with a 640 credit score. FHA is probably your best bet.Good Luck and be persistent. You'll obtain the American Dream again. Don't let anyone stop you. It's a systematic process at times. Take it step by step to cure any outstanding issues.Also make sure you received the complete release of liability on your short-sale.BH

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I would like to only look for homes in florida that are made with solid poured concrete walls.

Answer

I have seen a few with the solid poured walls however it is a special build in most cases. I'm Licensed in FL and up north where we have solid poured basement walls however most of our homes here in Charlote County (Punta Gorda/Port Charlotte) are block construction with a stucco finish. They hold up well. We had a major storm here in Charlotte Couty in 2004 called Charlie that damaged several homes. Most of them were older builds with little or no hurricane features. Most of our homes now have shutters and one house I owned had hurricane windows, although expensive to install.Believe it or not, our downtown Punta Gorda area (Old fishing village years ago/very quaint and attractive) has historic old wood frame homes and they did very well for the most part. The biggest problem I noticed was roofs. Our wind-load code is 130 MPH.We are pretty much fortified now. It had been years (over 40) since a storm that strong passed through this area.I agree that building the home might be your best bet if money is no problem. As I mentioned, I've seen a few but not many. You may want to explore the block construction method. Some of them were re-barred roof to foundation/stem-wall and even filed. They are pretty strorm-ready but not much can stand winds over 150 MPH. The debris blowing is what causes much of the damage.From what I'm seeing, we're as safe here as any place in the US or on earth as far as that goes. Like they say, Mother Nature is stronger and decides what she's going to do. (Check out Alabama etc.)If you'd like to look in our area (SW FL/Charlotte Harbor) let me know.Thanks and I hope this helped a little bit.Bill HoyleAARE CAIThe According To Hoyle Group[contact information deleted by Zillow moderator.  Please see our Good Neighbor Policy for posting guidelines]

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How do you actually buy a house in foreclosure?

Answer

Although there are some good buys that are foreclosures and short-sales, you should examine the entire market. I've found that there are some excellent buys that are not in either of those categories. A good Realtor should explain this and you should be sure the home is the one you want and one you'll enjoy. (Just because it's a foreclosure, doesn't mean it's the deal of the century.) Always do your due diligence and inspections whenever buying; especially a foreclosure.Then cost the repairs out and weight it against what a ready, move-in property would cost. You might be surprised.Good Luck!Bill

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How can I get my appraisal cleared up?

Answer

If the current appraised value  (I assume you meant County Auditor's Market/Assessed Value.) is higher than you think your home is worth, call your Local County Auditor/Appraiser's Office to report the mistake. Be sure to speak to someone with authority and not merely a desk-person that answers the phone.If the value is lower than the actual value, leave it alone. If this is the case, the taxes should be a bit lower than they might otherwise be.One other thing to keep in mind is that if the property recently sold (Builder's Property), the property may have been updated/re-assessed and could be higher than it should be.Hope this helps.Regards,Bill HoylePS If you meant Zillow's Estimated value, that would be different all together.

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How do I find a realtor with lots of experience selling/buying foreclosures/short sales in an area?

Answer

Most agents that have been in business for 5+ years and have sold properties should have sold Short-Sales and Foreclosures. That makes up a large portion of the market right now. (So look for experience.)Be aware that some agents will not show Short-sales due to the lenders not participating in them in good faith. (See the opportunities and potential down-falls of trying to buy a short-sale. Know the process to a certain extent yourself.) Foreclosures are quicker and you should get an answer within a reasonable amount of time. In a Short-sale, you could be waiting for months to get an answer. Some foreclosures actually sell over asking price due to multiple offers. The lender and/or loan servicer holds the cards in either of the aforementioned cases and you will need to use a cetain Offer To Purchase Contract in most cases. You will most likely be signing the lender's required addendum.Basically, it's their way or the highway, if you know what I mean. A good agent should know which lender requires which offer form and any addendum to be expected. In addition, a good agent should also explore the traditional listings for you since many of these may actually be a better buy and meet your needs more. So lok at ALL Properties for sale. Don't be swayed into thinking that you'll only get a good buy using a Short-Sale or Foreclosure.By knowing the process to a certain extent yourself, you'll know the right questions to ask.My website goes into depth about short-sales and many others may as well.Good Luck and remember, make sure the agent has been in business for 5+ years and ask them if they show short-sales and/or foreclosures.Regards,Bill HoyleAARE CAI[hotlink deleted by Zillow moderator ]Your SW Florida Real Estate ConnectionSun Realty

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Interested in buying a second home.

Answer

The first thing to do is to see a good lender. (One that does loans in the area where you're interested in buying)This will help you determine how much home you can afford and you can shop with confidence. In many places, like SW Florida, it makes sense to buy right now while the prices are bouncing on the bottom so you can take advantage of a great buy.Interest rates on a second home are usually about 1% higher. (1 point) Since rates are so low anyway, this should not concern you too much. Good Luck and have fun getting that second home. See SW Florida since that is an area that offers great weather, a fun place to visit and good long-term up-side potential.Bill

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Do I need a Buyer's Agent to buy a house?

Answer

It is best to have a knowledgeable agent represent you when buying a home. By knowledgeable I mean one that truly is in your corner, has good knowledge of the area where you're buying and can show you some recent sales and competitive listings in the general neighborhood where you're buying as well.An agent that can negotiate, work through the process and paper-work/forms and then follow up through closing including reveiwing the Hud-1 Closing/Settlement Statement takes a big load off of you and makes the experience less stressful.In today's market, buying a ome or property is much more complex than years ago and actually getting more complex every year. In most cases, the seller pays the Buyer's Agent/Broker fee for their services and so you do not generally incure any additional expenses. In many cases, the uyer's agent actually saves you some money.When a seller lists a home they are informed of what agency is in most states so it is often expected.I can't see any reason why anyone would buy a home without one.I do not see listing agents/brokers reduce the commission in most cases when selling the home/writing up the agreement and doing the follow-through to closing.If you're comfortable representing yourself in court and see no value, you may be one of those do-it-yourselfers. I personally think if I can get a good service, feel comfortable with it and it doesn't cost me much, if anything, why not use it. BH

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