It is an unfortunate part of lehigh and the foreclosure mess, but scammers are taking advantage of this right now. The internet, allows them to hide behind layers of deception and rarely are they caught. The only thing you can do is communicate to all your friends and colleagues to be careful and go the extra mile and report the fraud. Craigslist, has great links to many Federal Fraud Sites/resources. OK, that being said, I am a realtor in the area, I have just [promotion deleted by Zillow moderator. Please see our Good Neigbhor Policy]
CMA's are what you want.[Link removed by moderator]
Belike23 Or Michael Jordan...I agree with Ronald, buying and investing in foreclosures is no small task. Infact I pay a staff to work 40hrs a week researching properties to purchase at foreclosure/sheriff sale, we have a title company in our pockets,and I still LOSE. Yeah, it is easy to make mistakes. It would behove you to partner with an expert. Don't be affraid to split profits, or even have to pay more than your share to the expert. Better to pay a professional X% of profits than to LOSE $$. Best of luck.Ps. If you have found this to be a helpful and resourceful answer please mark it as best answer. Thank you.[Link removed by moderator]
sadly way to common. however there is a difference between a Contract and an Offer. If the Seller has Signed either of the Offers, they become a contract, You can not sign two contracts, without priority. If they are signed, with a short sale addendum allowing for back up offers, then one of the offers is first in line and the second or "weaker" offer is second in line. Ps. If you have found this to be a helpful and resourceful answer please mark it as best answer. Thank you[Links removed by moderator]
You need to ask this question on a legal forum. Any advice a realtor gives you would be legal advice and it is illegal. [Link removed b moderator]I often hate paying my attorney $300 for his opinion, and I have used another legal forum online where I pay $20-$50 for answers, I can't think of that forum. Best of Luck. Sorry I was not more help.[Link removed by moderator]Thank you, Justin Ruzicka "[contentl address removed by moderator]."
In Lee County Florida, the News-Press ran an article "small" article on how deficiency judgements went from 40 in a year to 300 for year to date. Florida is not as wise of a state as CA or AZ....I wish we where...URRRRRRR.
a lot of good answers below. hire a realtor to give you a CMA, to give you the value of the home. Or pay an appraiser to give you appraisal that has strict federal guidelines for value and is much more accurate, and thus they can charge for that. And remember, you get what you pay for...HEHE, no realtors to a good job. i am one.[link removed by moderator]
A simple concept we often forget is that banks are not fools. They hire professionals, many times more than one to give them a value for the property. Lets assume that one of the individuals was wildly off the mark and told the bank hey this house is worth $15,000 and the other one said $150,000, well the bank scrubs these numbers off the largest database in the market which is a Fannie Mae Computer Program with the best estimate of values, they go to the program it says the house is worth $120K0150K, NOT $15,000, even with $80K in repairs....If it were only worth $10,000 why wouldn't the bank employees or all the other realtors in your town purchase it, Heck, a house for $10,000 you would only have to rent out for $100 a month to make a sick return on investment. is rent more than $100 a month in Montgomery? If so, this house is worth a lot more than $10,000 even with repairs.
I think the only stipulation is that you don't so "A" more than 5 times at the closing...HEHEHE. It seems the question is answered below. Enjoy your investment, if you would like a good resource on Southwest Florida, please feel free to visit[link removed by moderator]
Nacho, In certain parts of Miami you guys have seen what should be close to bottom of the bell curve in prices, not to say pockets here or there wont shift down, they will. In terms of comparing your use of money on real estate as a protection to inflation, yes it is true it will do that, I don't think you should work any mathmatical equations involving inflation into your investment potential. I did a good blog the other day on ROI's and the different equations that are consider for real estate, you are more than welcome to read it, [link removed by moderator] Anyway, what I am getting at is there are numerous ways to figure ROI, and never is inflation considered. If you are looking for inflation protection buy physical, gold and silver. Silver has doubled in less than a year. Here is a realtor telling you to buy metals.....and not real estate. If you are going to invest in real estate get ready for have three new jobs, not just one(landlord) nope you will be repair man, landlord, and tax collector, I mean Rent Collector, I have managed just under a 50 properties in the last few years and never fail each month someone does pay. And, this was true when i was managing just 1 property. There is a month that is "tough" for everyone in the year and that makes your life horrible. If you buy, be very diligent in your research. Best of luck if you choose not to buy Gold and Silver. If you have found this to be insightful and helpful please mark it as best answer or thumbs up. Thank you.