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Mary Haddaway's Advice
Contributions are sorted newest to oldest.
4 Best Answers
Mary Haddaway wrote:
How to buy foreclosure property from auction.com
There are some viable properties if you go directly to auction.com. I have a listing posted there and it's a fixer-upper, yes, but also a good buy. Not all of the properties there are "dogs". Sometimes, you're just better off buying a home that doesn't need as much work. By the time you by a home just because it's what you think is a good price, put money into it to make it habitable, you pretty much end up spending the same amount. Good luck!
3 days ago
Long and Foster agent will get 3% commission from seller and $345 from buyer.Is this normal?
As part of the Long & Foster network via Lacaze Meredith Real Estate, the Broker's fee is $245 per transaction. THE AGENT DOES NOT RECEIVE THIS AS PAYMENT; all commissions, fees, etc. go directly to the brokerage and not to the agent.
Looking for a house with beautiful sea view and good school, any recommentation???
Can you tell us which state you're interested in? I'm on the Eastern Shore of Maryland where we have some very lovely waterfront homes available and excellent school systems.
How long after a bank buys a foreclosure in an auction do they typically put it up for sale?
In my area (Eastern Shore of MD) I've seen 1 year to up to 2 years before the foreclosure hits the market. Shame to leave a property vacant for such a long period of time....
what is a pre-forclosure home? how do you find out when the auction is?
Try homesearch.com. A lot of foreclosures and auctions are listed there. It allows you to add zip codes and/or addresses for your search.
When does a lender typically get a BPO/APPRAISAL done during a Short Sale?
Yes, lenders have their own time frame for sure. It was almost 3 weeks from the time the offer was accepted until the lender did the appraisal on the most recent short sale I participated in. The BPO (Broker Price Opinion) was done shortly after the home was listed for sale. It can take a lot of time and patience when your are in the process of purchasing a short sale. But, it's been my experience in my area, some lenders are quicker in getting things done than others. As a whole, though, the time factor on the lenders end has lessened somewhat.Good luck!
Property under contract: was agent responsible to tell I could put a bid on it?
I would think the agent would WANT to let you know a particular property was available, especially if you had relayed to that agent what kind of home your were interested in. I sold 2 homes recently that were just listed in the MLS about 20 minutes. I knew the home was exactly what my buyer was waiting for. The home(s) were shown that day or the next and the offer submitted right away. That being said, it's wise to be proactive yourself. If you're keeping up on homes listed in your area of interest, too, you can always call your agent and ask to see a home. It is nice, though, when you have an agent who is the proactive one and calls you first....Good Luck!
Seller terminated with us & now using our inspection reports for their new buyer
If you agreed to release the reports to the Seller, then yes. If you didn't release them to the Seller, then no. The reports belong to the Buyer since you paid for them. If you had already had your inspection, repairs were requested by you to the seller and they requested a copy of the report and it was sent to the seller in it's entirety, I don't think there's anything you can do. Normally, if repairs are requested, only the corresponding pages listing those specific repairs and not the whole report are sent to the Seller. Sometimes buyers have allowed the release of the reports to another buyer or to the Seller (when a contract fell through) charging them half of what they paid initially.Good luck!
Deal fell through. Can I fire old agent & use the Seller's agent as the dual agent?
If you've tried calling the Seller's agent 9 times with no response, why on earth would you want to use her to present your offer??! Have you talked with your current agents broker? An attorney? If a release was signed by all parties (why was release implemented?) and another offer has been accepted, I'm not certain there is anything more that can be done in regards to you buying this particular home. A back-up offer could be presented. Perhaps it's time to move on and find another home, sad as that may be for you. Good luck!
What is a good resource to research the various housing markets in the US for investment properties?
Realtor.com or mrishomes.com have the best up-to-the-minute info. Unfortunately, Zillow info isn't always correct and it can take up to a week for updated info to appear. Once you've seen how the various markets are in your area(s) of interest, find a local, knowledgeable Realtor to help you in your search. Good luck!
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