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foreclosure: As the boyscouts say, "Always be prepared" - 02/29/08 10:21 AM
Or "a good offense is the best defense" is a better phrase for the day.  2 weeks ago I had 5 closings set up for today (and I wasn't sure how I was going to be able to attend all of them), and as fortune would have it, at the moment only 1 will close (today).  Out of my 5 deals, I had 2 short sale and 2 foreclosures.  Had I not prepared all my clients 2 weeks ago that we may not close today, I'd be putting out fires instead of finding breathing room in my day. 
Closing #1.  (My Sellers Bank … (4 comments)

foreclosure: Protect your Buyers: Bank owned trick #2 - 02/26/08 04:43 AM
Since my last blog seemed to get a lot of interest, here's another issue for agents to be on the lookout for.  In the New Hampshire Purchase & Sales Agreement Page 2 Section 10:
10. TAXES, CONDO FEES, SPECIAL ASSESSMENTS, RENTS, WATER AND SEWERAGE BILLS AND FUEL IN STORAGE SHALL BE PRORATED AS OF TIME AND DATE OF CLOSING OR: ALL UTILITIES AND TAXES TO BE PAID IN FULL AND KEPT IN GOOD STANDING UNTIL THE CLOSING DATE.
I can't speak for every state, I can't even speak for every town because public utilities are handled differently by different towns, but locally in … (5 comments)

foreclosure: Protect your Buyers: Bank owned trick #1 - 02/25/08 05:35 PM
For those of you who haven't had the opportunity to sell a bank owned property yet, look out for this little fast one the bank likes to try, if you're not looking for it, you just may miss it:
Recording fees, escrow fees and other customary closing costs WITH THE EXCEPTION OF TRANSFER TAXES, shall be paid by either Seller and/or Buyer in the manner customary for residential real estate transactions in the city in which the Property is located.
ALL OTHER COSTS AND EXPENSES, INCLUDING ANY COST, EXPENSE OR TRANSFER TAX, imposed by any state or local entity not otherwise addressed herein, including … (11 comments)

foreclosure: Protect your Buyers - 02/11/08 10:52 AM
     After sitting through a recent seminar on foreclosures and short sales, I picked up a little info I thought would benefit many agents and buyers in this current market. 
     When buying a foreclosed property AT AUCTION it's important for both agents and buyers to understand that in most states, the existing owner can contest his foreclosure up to a year after the fact.  So potentially your buyer/investor could buy a property, spend 10's of thousands fixing it up, and 9 months down the road, the previous owner might be able to take it back.  This was a huge fact that … (8 comments)

 
Kwfr3-9106

Joshua Matthews

Wakefield, NH

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Keller Williams Coastal Realty

Address: 501 Islington Street Suite 2, Portsmouth, NH, 03801

Office Phone: (603) 610-8500 x 576

Cell Phone: (603) 781-4030

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