When Should The Home Inspection Be Completed In A Short Sale? - 03/31/10 09:59 PM
I recently completed and earned the Short Sales and Foreclosures Resource designation.  I think the points concerning the home inspection are worth posting:
As per contract.  If the contract calls for the home inspection to be done in five business days after the contract has been executed, the five days would start from the time of signing by the buyer and seller not from the time of the lender approval. The buyer would not be able to negotiate any costs or repairs if the home inspection was completed after lender's approval.  The lender's approval is based on a definite dollar amount … (4 comments)

Nasty Little Tricks An REO Pulled On My Buyers - 03/28/10 12:04 AM
I have a young couple that are purchasing their first home.  The couple have been tenants of mine for a year, paying rent at $850 a month.  The payment on their new home will be $605, a big monthly savings for them.  The young man is in the military and she is employed at a local bank and expecting their first child in June.
We found a nice REO listing that they liked and made an offer on 1/24/2010. Usually the REO's are priced slightly below market, but not this one, it was priced at the high end, but the kids … (9 comments)

Short Sales Assitance With Sandra Mathewson RE/MAX Complete, Sparks, Nevada - 03/21/10 01:01 PM
SHORT SALE
A short sale is a situation in which the seller (1) owes more money on the loan (and other liens on the property) than the sale of the property will likely produce on the market and (2) is unable or unwilling to bring money to closing.  In a short sale, the lender has not yet foreclosed on the property, which privides a window of opportunity for the owner to sell the property in order to at least partially satisfy the amount owed to the lender.
WHY SHORT SALES ARE PREFERABLE TO FORECLOSURE
Short sales are considered preferable to foreclosures … (0 comments)

Fernley, Nevada Real Estate January 2010 - 03/01/10 11:47 PM
"The increased number of home buyers continue to show that northern Nevadans are taking advantage of affordabiy priced homes, the extended $8000 first time home buyer tax credit, the new repeat homeowner tax credit of $6500 and low mortgage interest rates, said Ken Amundson, 2010 president of Reno/Sparks Association of Realtors.  The numbers also continue to show that this is a great place to live!
Sales:
January ended the month with 37 sold transactions as compared to 54 for the month of December - a 46% decrease over the previous month and a 32% increase over the same period last year. … (0 comments)

 

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