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Lorrie Bailey's Advice

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Lorrie Bailey wrote:

my home was foreclosed and redemption period is over by April6th. what happens if i dont move out

Hi, sometimes the bank will extend redemption period, if you are trying to do the short sale and it has not been completed. They should give you a specified time frame that you are supposed to be out by. By law, you have 6 mos after the date of the Sheriff Sale. You are not supposed to take any fixtures attached to the home, as it becomes part of the Real Estate once it is attached.  I hope you have a professional helping you with the short sale, as it is very difficult and time comsuming process.Please call me anytimeLorrie Bailey[Content removed by moderator due to self-promotion]
March 21 2010

how low can i bid on a short sale home? i heard its harder than buying a bank owned....

Hi, you can offer any amount on a short sale just as in a bank owned property. The bank will determine how much they will take based on the comparable properties in the area. Short sales are harder because they take longer than a foreclosed property does, but they are usually in better shape. And need less dollars to make them livable again.Please call me and we can discuss the further.Thank youLorrie Bailey248 884-6723
September 07 2009