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Forefront R.E.'s Advice

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  • 5 Contributions
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Forefront R.E. wrote:

Big Banks & Short Sales??

Response
Unfortunately, the expression "He who has the gold makes the rules", or in this case, " He who has the gold ignores the rules", is the norm. The federal government has rules already in place to more smoothly facilitate distress sales. The problem at hand is that the larger banks have largely ignored those rules. What complicates this more is that the government has failed to follow up on the bevy of headline grabbing mandates already in place.Pat Palmer, Broker/RealtorForefront Real Estate
February 08 2012
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whats a FHA mortgage loan.we were approved for one but not sure what the difference is from others.

Answer
Hello Ken, In addition to what Mike said, FHA loans have more "Health & Safety" safeguards in place for buyers. They also allow for tax credits based on installing energy efficient appliances. Lastly. they generally allow the seller to help the buyer with a greater amount of closing costs. I hope this helps. Pat Palmer-Broker/Realtor Forefront Real Estate
February 07 2012
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Providing a Property Disclosure

Answer
It is always a good idea to provide a property disclosure. For one, it brings to light isues you might not think to disclose. Also, it is typical for the company providing the repert to indemnify you against errors for the information they provided. It is money well spent.Pat Palmer-BrokerForefront Real Estate
February 06 2012
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HOME BUYER: Terminology question

Answer
Hello,You are correct in what you assume. The seller wants to retain possession for three days after close of escrow. Even more important than verifying those items included/excluded in the sale, you need to be sure you are protected against the seller staying. Basically, you become a landlord from the day you close. In California, there is a Purchase Agreement Addendum that is designed for this issue. I would strongly advise you to ask your Realtor for a similar form. Pat Palmer-Broker [website deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
February 03 2012
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Making an offer

Answer
Good Morning Andrea,In addtion to the advice given before me, I would suggest knowing the importance of each property you offer on. If a given property is in very good shape and you really like it, you might make your best offer up front. There will probably be other buyers offering on the same home. If a given property is in disrepair or on the market for an extended time, you might think of offering less.Pat Palmer-BrokerVisit Our Website Here
January 26 2012
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