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Paul Mausteller, Cdpe's Advice

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  • 15 Contributions
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  • 3 Helpful

Paul Mausteller, Cdpe wrote:

How do I get you to correct the erroneus information that you have posted that is impacting the sale

Answer
Hi Robert or Mary, I looked at your listing in MLS, per my realtor ethics code standard 16-2, solicitation of  client another realtor, this is obvious issue with posting to open forum and to the world wide web. you did post this to an open forum. I don't want to cross the line, I did check real-data information you are correct county records are correct , town data is correctHave your agent go to listing maintenance in NNEREN ( the MLS), at very top of edit field click "Get Tax Info" button, he inputs your street name only and zip code, it will populate your tax map  lot 000014, lot 000015. Within one to two days, Zillow site will refresh with new tax map data.  Hope this helps, Zillow pulls data via the MLS, so tax map-lot info will populate and should correct the issue on the Zillow site automatically.Kindest regards, Paul
May 28
(0)

Homepath multiple offer, then counter offer

Answer
Hi Trippytom, Has your buyer agent run real numbers for the property based on sales the past 2-3 months since this peak season of selling, if their is other interest from another offer, there will likely more after this holiday weekend, it comes down to dollars and terms with Fannie Mae, just because you made an offer , rejected and price change, the seller may have been making a price change already and it fell in line with your offer.   If multiple offers there could me more then one other offer. 60 days on market in not along time. What is normal DOM in the area of this property? Negotiations is not always fun if your not holding the product. Think about your 3% of difference, think about time to continue looking, moving, interest rates,   other inventory in area. Another months rent, or in middle of tax cycle  you might have to credit seller money at closing table meaning more money out your pocket. Longer you wait, more buyer traffic through that door, don't be surprised another round of multiple offers.I suggest sooner you reply the sooner your answer or before another offer comes in. Hope this helps
May 28
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how can I aware of foreclosed house lists of banks?

Answer
Just some FYI - definition of the word foreclosed or foreclosure have two different meanings, foreclosure or foreclosed are the acts that happen prior to or in middle of transaction between a defaulter of the mortgage of the property with their lender calling in the mortgage for failure of payment, there could be other reasons for default to but that is another subject.     I believe you are seeking an REO list, means bank owned real estate. Properties that has already been foreclosed on.  Most of these sites mention in other advice post are REO properties already owned by the banks.Below information is if you are seeking to purchase at auction because property is being foreclosed on by the bank.   Most common places to find properties that are going to foreclosure is Public notice section of your local paper. Also researching your local registry of deeds. Google "foreclosure auctioneer" in XXX.    3rd option depends on the state your looking to purchase :    Is the state judical or non-judical? Judical state notice of default most times can be obtained at court house, many county courts post their daily dockets on their website too. I suggest seek out a foreclosure specialist/realtor who knows the in's and out's of the business, be loyal to him/her, since they will want to be compensated by a sale, most foreclosure companies, REO asset companies & auction firms do pay the selling agent. Hope this help, good luck with your search. Best,Paul M 
March 02
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Can lender increase Single Premium PMI on GFE?

Answer
This is perfect example why we need the consumer protection act- can you say Elizabeth Warren. I'm not in favor of the Dodd-Frank act but your issue is a reason for this. Sorry but 41% increase more for PMI smells fishy, whole reason for a good faith estimate (GFE), sounds like yours was BSFE, you can figure out that acronym.     Suggest , your in Boston, perfect state to dispute, consult with your agent and attorney, if you have one, might want to call the Mass banking commission. Did you sign the new GFE?  Stinks they kind of have you over the barrel, they wait till the very end? That is poor service, hope you can resolve. best-Paul M
December 21 2013
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Rotate photos

Answer
Zillow's IDX feed for pictures from various MLS system through out the country maybe are controlled at the local MLS level. Many MLS's are making money off certain fields that they provide to varies IDX feeds to many providers. I'm figuring/guessing if the list price has not changed or mls number not changed, Zillow is only pinging certain fields in your mls, think about bandwidth, servicers, etc.     Suggest to manually rotate your photos, via Zillow dashboard.  Living in the Northeast, I hate it when it is June and I see an agent's listing with snow photos, they are not doing the seller any favors, pictures do sell, the more the better. Hope this helps
December 21 2013
(0)

Short Sale

Answer
Hello Juniper41,Have you sat down with a loan officer and discussed your options? Providing your divorce degree, former's default of court order not being followed? Suggest talk with a local small banker near you not a large financial institution, the local banker will service their mortgages and not sell them after you close on property. Local bankers have more lee-way with the unconventional purchaser similar to your case. Hope this helps.
December 21 2013
(1)

Back Taxes on a Fannie Mae?

Answer
Majority of the time, if Fannie Mae will pay back taxes so the consumer/purchaser/buyer can obtain clear title. If financing is involved with the purchase, that lender will require that those back taxes are paid to obtain a clear title, thus purchaser's lender will fund the transaction.   Side note if normal transaction via homepath, Not an auction property. Fannie does offer title insurance if you use Fannie Mae closer. Hope this helps
December 21 2013
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Put in offer on Fannie May REO

Answer
Hello User323758,  Could be combination of many things. Most have been covered by the prior answer posts. Patience is the word for purchasing an REO from Fannie Mae or any other bank. Multiple offers could mean 2 or 20 or more offers . Takes time to digest offers, might require committee or servicer approval they are human too. They might be negoiating one of the offers and it's not yours.Figure each offer is confidential between buyer/s and seller. Did your agent submit multiple offer form back to listing agent with your highest and best? Hope this helps.Paul   .
December 09 2012
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Failed Title 5 on a tenant occupied REO. Doesn't bank have responsibility in this case?

Answer
Who stated system failed? was their a second opinion/second inspection, if your have a brain tumor, would not go for second opinion.    I've had inspectors say systems are failed, send in a second inspector nothing wrong.  Is system truly failed, is sewage backing up in the house, is their back-gasing, does outlet baffle need replacing, is d-box cracked, is leachfield floating in water, did code officer deem property inhabitable? if your buying a REO, bank does not have to fix, read your contract most banks have their own addendum which is controlling contract, probably says sold as-is. Tenants in REOs usally have till end of lease that was with defaulter or on month-to-month with current owner(bank). Suggest review the lease and review seller's purchase addendum.
November 20 2012
(1)

We have an approved offer on a Homesteps Foreclosure. Owner Occupied. Need Advice?

Answer
   Wow trend lightly with tenants in a foreclosed property. Federal law can not begin evictions for 90 days after foreclosure, I'm not an attorney normally foreclosure deed needs to be record then clock starts. The federal law is Foreclosure Act of 2009  this protects the tenants. Does tenants have a bon-fin lease? If you financing, tenant occupied purchasers expect 25-30% down min, not primary home. No proof of financials from defaulter on rents, net income, etc.. The road just got real steep. Your lender is going to need access to interior of property to do complete appraisal will tenant cooperate? Strongly encourage having attorney in the picture for this transaction.
November 14 2012
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