48 hours to make $45.00...............

Well, I can't believe that I thought I would give BPO's a try.  I never used to do them because I was always busy. Slow times, you do what you gotta do.  Did the first 8, took a while to get paid but got paid.  The last one came this past week and I found time and fit it in over the weekend.  It was on a house they paid 1.6 mil for and was not listed.  Got my info and downloaded.. Photo's were a bit difficult  considering that they were in private gated communities and mostly private.  The BPO called for exterior.  I sent everything in and get an email that they are not paying since I did not get inside photo's.  Well..................How do you get inside photo's if the house is not listed and the homeowner doesn't know that this is going on anyway.. Anyone else experience this?

The vendors really need to be aware of what they are asking for.  Come on, you want the Realtor to give you a full appraisal in 48 hour turn around and make them wait a month to get their $45. check in the mail. NOT FOR ME!

        You Get -             30% Referral Fee

I give 110% working for my buyers to get their new home for the best price while producing Professional Results with a Personal Touch!

The banks don't want to heat these large homes, they don't want the power on, instead they will just keep dropping the price until it sells.  That's what the agent said.  I showed a property, it was freezing out, my client couldn't stop shaking as we walked in the door.  We proceeded to go downstairs after viewing the upstairs, no power, complete darkness, no flashlight in the house. Got to get one that I keep on my keychain so it is with me at all times!!! At least keep the power on, heat turned down, winterize the house...............Price of that house $799,900.  

It wasn't long ago, I sold a foreclosure that had been winterized and when we did the home inspection , there were multiple leaks throughout the home.  Needless to say, we did close but the seller took a lot less than if that didn't happen and still had to repair all leaks.  Same price range.

I just wonder, is it less expensive to fix the leaks and lower the price than keep the house above the freezing point.

Here's a new Fannie Mae site that is informative.   KNOW YOUR OPTIONS

CLICK HERE FOR TOUR

CLICK HERE FOR TOUR

Alright, I can honestly say that I have been focusing on our new healthy built home more than keeping up with my blogging on Active Rain.  My last 2 sales have been foreclosures and I have to admit that it has not been fun. I have learned alot and have successfully made it to closing which if it weren't for my building expertise, probaly wouldn't have happened.   I have experienced delayed communication responses,  lack of knowledge, major faux paus and I wonder if anyone else sees this? 

I love what I do and I see that we are now just barely hanging in there in our field.  For all the agents that know what they are doing and taking the extra time and are results driven, Hang in there! There are definately going to be more foreclosures,  I just hope that the banks can keep up with this and hire professionals that know the market and what it takes to sell a home right now.

Has anyone out there signed up with REO Direct Partners?  I signed up and paid $275. and have not heard a word by email or phone.  I have tried to set up my profile on their site and can't. While searching the internet, I am hearing that it is a scam.  I would like to hear from any of you active rainers that have had experience with them.  

Buying a foreclosure?  What do I need to know????????

REO, Bank Owned, Fannie Mae owned?   There will be an addendum, make sure you get the addendum up front and read it.  They are adamant on there time limits for inspections and closing dates.  If there is going to be an extension, they have a form for that and it needs to be addressed ahead of time not after. 

Get your inspections lined up immediately, surveys, get your contractors out if there if there is work to be done so you know what you are in store for.

Make sure all utilities are on for the inspection.

Keep a good communications line open with the listing agent.

Get a copy and read the restrictive covenants.

Check the tax bill, the tax assessment may be higher on a foreclosure and you will need to appeal to get an adjustment after closing. (Save the closing statement)

Check the title, your attorney will do this and you can also go online and find out a lot.

Just a few suggestions.  

Short Term Furnished Rental located 15 minutes to downtown Asheville.  Located across from community park with walking trail around the lake.

Everything included...cable, internet... just bring your personal belongings and food.

Check it out here!

www.NorthAshevilleHomes.com