Buying a Home in North Carolina in the New Year? What You Need to Know Regarding the New Contract - 12/19/10 12:48 PM
On January 1, 2011, a new Offer to Purchase and Contract debuts and will be the basis for nearly all residential resale purchases in the state of North Carolina.  It is vastly different from it predecessor, which was written to benefit the buyer rather than the seller.  Here are the highlights:
1. The Due Diligence Period
For the last few years in North Carolina, the statewide contract had always given buyers the ability to back out of the contract and keep their Earnest Money Deposit (money deposited at the time of contract, credited to the buyer at closing, that could be … (4 comments)

A New Twist on my Favorite Short Sale Fraud - 12/16/10 09:48 PM
A few months back, I wrote a post that "inspired" a lot of debate on the topic of short sale fraud.  In short, I cautioned those facing foreclosure to perform a bit of due diligence before they just call anybody to help them with their situation.  To that end is a new twist on my favorite short sale fraud: "the short sale flip".  
Short sale flippers target upper-end homeowners facing foreclosure ($300,000+), offers them a low-ball contract, re-lists the home for more money while negotiating their own sale; with the goal of making profit on the difference.The twist: this one firm, once … (1 comments)

Yes You Can Walk Away From Your Home in North Carolina and not face Deficiency if.... - 12/01/10 06:25 PM
Taken from my Charlotte Short Sale, Foreclosure, and Loan Modification Blog
When facing foreclosure, the number one issue that homeowners fail to consider is the possibility of a deficiency judgment. Deficiency Judgments allow your former lender to sue you for the balance of what was owed at the time of the foreclosure, what it eventually sold for, plus legal expenses, penalties, etc. If a home in the Arboretum area with a primary mortgage of $500,000 nets the lender after foreclosure $350,000, the amount of deficiency would be $150,000.
However, for homeowners facing foreclosure in North Carolina, some homeowners can walk away … (1 comments)

 
Jon%20250 Rainmaker_large

Jonathan Osman (Charlotte House Hunter Group)

Charlotte, NC

More about me…

Keller Williams Realty

Address: 5925 Carnegie Blvd, Suite 102, Charlotte, NC, 28209

Office Phone: (704) 960-1725 x 100

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog