CATHY SLOAN's Discussions

Pre-foreclosure will not work either.  A Lis Pendens would be filed in public records identifying the property as a pre-forclosure.

Fallenstar26Follow this link to a Realtytimes article that is informative reading and advise for purchasing bank owned or foreclosed properties:http://realtytimes.com/rtpages/20071207_buyreo.htm

Before anyone critizes, I can spell apologize and license.  Sometimes my fingers get ahead of my brain

LBTRSFallenstar26 did not indicate that the Bank owned property was FSBO.  Lynn's post recommended that , Fallenstar26, a first time buyer,  not consider buying Foreclosed or FSBO properies without the aide of a Realtor.  Lynn recommends that  Fallenstar26 have someone with knowledge and experience on her side and not to go it alone.

HCKWLFIf you do not already have a Realtor, find a Buyer's Agent to assist you. Regina In your area is it legal for a Realtor to give the buyer client a portion of commission paid to the Broker as a client Rebate.  This is perfectly legal in Florida and practiced when a Buyer has already found a new Construction home and contacts a Realtor at the time they are ready to purchase.  If hckwlf doesn't have a Buyer Broker to assist this might be an additonal incentive for obtaining an experienced Buyer Broker to protect this buyer's best interest. 

Jose In February 2008 North Florida had a 17 month supply of homes on the market Down from 23 months in Sept/Oct 07  Reatlytimes reported in February 2008 that Naples had a 38 month supply of homes on the market for the previous 12 months.  Realtors in our area are not taking listings for less that 4 months and many will not take a listing for less than 6 months.  It sounds great to offer the Listing agent a higher commission however, You still have to get the Buyer's agents through the door with a buyer som  THERE ARE LESS BUYERS IN OUR MARKET.  I BET THERE ARE LESS BUYERS IN YOUR MARKET AS WELL.  

Sorry I hit submit by accident before I finished Those agents might not have any buyers in your price range. I recommend you do a little homework and find out which agents market agressivly in your area, interview them and LISTEN CAREFULLY TO WHAT THEY SAY.  You may find that you can hire one of them, still sell your home below the market price and keep more of your equity.  I believe you said you travel a lot.  This sounds like your family is home alone showing your home to strangers that you know nothing about.  Doesn't sound safe. Mortgages are more difficult to obtain.  The buyer's that come with a Realtor have been pre-approved by a lender known by the Realtor. Your stranger more than likely was  pre-qualified by an on-line mortgage company located God knows where, most of those do not work out. If you want to sell your home interview top agents in your area.   

To: KD, Diet & Ohio I am  Realtor who is a Relocation Specialists. Please be honest with Jose.  Would you let me Drag you to Jose's house if you looked at his photos and presentation and everything else you saw was more appealing.  "My buyer's would just say I don't have the time to waste.   Lets stick to the homes that I asked you to show me."    I bet each of you already had a list of homes in hand that you were interested in seeing the day you met with your Realtor.  

SLD 1 I know you are eager to sell.  But the next time you get an offer, Don't start packing.  Get your Realtor friend to recommend a local Mortgage Broker. (John @ ABC Mortgage) When the offer comes in add the following verbiage to the offer: Subject to the Buyer getting a pre-approval letter within 5 days  from John @ ABC Mortgage.  You can tell the Buyer they can use any lender they want for a mortgate but you want a pre-approval from John. Explain  that John is an excellent loan officer and that you trust him, you have had a bad experience and do not want to take your home off the market or incur any expense until John @ ABC gives a pre-approval   If they do not want to accept this term, be cautious.  My experience has been there are credit issues and they think that the lender they talked with is the only lender that can get the loan through for them.   If John  @ ABC cant give a pre-approval,  you will know your buyer is a risk. Too many buyers go on the internet to secure a mortgage.  We Realtors see too many of those buyers crash & burn before closing.  Be glad that the lender did not keep moving the closing date and still not funding. This still wont be 100% that the buyer will close but your odds are way better. In Florida the Buyer pays for the Appraisal.  If the next lender will accept you might could have the appraiser update the appraisal for a lesser fee. Good Luck

In my area some some of the REO's have been going for above asking price.  The bank just sits on the offers waiting for something to come in over the asking.  Many don't even counter.