Foreclosure Risks - Part IV: Financing Complications - 03/30/08 08:18 PM
Buying a bank owned property creates a multitude of financing risks—not because a buyer may have any particular problems with their credit or loan otherwise, but simply because the transaction is complicated and timing is difficult to control (read previous post on timing difficulties in buying a foreclosure here.) It’s critical that buyers protect themselves with appropriate financing contingencies (and make sure that the protections you want are negated by those pesky bank addenda – read post here.) Buyers take on enough risks in buying a foreclosure—don’t expose yourself to unnecessary interest rate risk as well. Let’s take an example. You … (0 comments)

Foreclosure Risks - Part III: Property Condition and Home Inspections - 03/30/08 08:13 PM
One of the most common scenarios in a bank owned (or REO) sale is that the property is “as is.” But most people don’t understand exactly what this means, or how to protect themselves from buying a home that may need tens of thousands in repairs.
Let’s back up a moment, and put “as is” in the context of a “regular” (i.e., non-REO) sale. “As Is” is a commonly misused term. We first must understand the home inspection process and one particular paragraph in the regional sales contract – the Property Condition paragraph, also known as paragraph 7 (because it’s literally … (0 comments)

Technorati Claim - 03/27/08 08:19 AM
Technorati Profile … (0 comments)

Foreclosure Risks - Part II: Unpredictable Transaction Timing - 03/19/08 09:41 AM
I’m often asked about the risks involved with buying a foreclosure. This is the second post in a series of as-yet-undetermined size. (Have a question on the risks? Contact me.) The first post on REO Bank Addendums covered the all encompassing risk—the risk that the bank can basically do whatever they want, including walking away at any time with no penalty, if you’re not very careful with what you sign. That addendum always includes one or more clauses protecting the bank if they are unable to meet certain deadlines—like actually proving they are the owner (oh, do I have to OWN … (0 comments)

North Arlington Condo Market Update - March 2008 - 03/19/08 09:17 AM
North Arlington Condo Market Update
Zip Code 22201 and 22203 (includes Ballston, Virginia Square, Clarendon)
 
 
Click here to see the previous North Arlington Condo Market Update
 
 
Contact Katie Wethman, CPA, MBA, REALTOR® at (703) 847-3336 or via email to list your property for sale or to purchase a property in the Washington, DC, Arlington, Alexandria, Fairfax County, Fairfax City, or Falls Church City.  I specialize in first time buyers.
Copyright © 2008 by Katie Wethman, All Rights Reserved.
Visit my website to find out more about my services or search the MLS for Arlington and Washington, … (0 comments)

Foreclosure Risks - Part I: Read Those Bank Addenda! - 03/16/08 07:31 PM
I get a lot of questions on foreclosures. How could I not? Some neighborhoods are flooded with them (though some are not...see the graph in my post on Beyond Auctions.) Buyers want to know if they’re a good deal, what the risks are, and how they can get in on one.
I’ve decided to write a series of posts on the risks specific to buying foreclosures—trust me that there are too many risks to put into one post! Some risks can be mitigated, some can be eliminated, but most remain; that’s part of the trade off you make in deciding … (1 comments)

 
Katie Wethman, CPA, MBA, REALTOR® - Northern Virginia & DC Real Estate (Keller Williams) Rainmaker_large

Katie Wethman, CPA, MBA, REALTOR® - Northern Virginia & DC Real Estate

Falls Church, VA

More about me…

Keller Williams

Address: 6820 Elm Street, Suite 100, McLean, VA, 22101

Office Phone: (703) 636-7300

Cell Phone: (703) 655-7672

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A forum for comments, Q&A, and discussion about the greater Washington, DC, real estate market. Learn more about me at www.katiewethman.com


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