Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
get others to join
This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
Curious as to what others in your profession think about a certain product or tool?
AR's community takes the time to leave honest and transparent reviews of their experiences
so you can be a bit wiser about your purchase.
Broken down by categories and subcategories for easy finds
Get an unfiltered look at what real users are saying
Leave a review yourself for others to benefit from
Add new products as you use them and gain points for doing so
ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
ARU Calendar provides class types and registration links
Watch short tutorials on updating your photo, inserting a hyperlink and much more
Sign up for the Daily Drop so you don't miss out on AR's daily happenings
Find answers to most FAQ's
Whatever it is you're into and wherever you are, AR surely has a group for you to join.
Brand, off the wall, specific subject matters…whatever it is you're looking for.
Each time you write a post you can syndicate your post to 5 groups.
And if by chance you don't find what you're looking for, start a new group today!
Get your content in front of more eyes
Search by location or type
Feel free to start your own group
Find some that are close to home and close to heart
Each month AR runs numerous contests as a way for our members to engage in activities
that will boost their business and increase their visibility in the community and beyond.
Earn points by partaking in these contest and climb the leaderboard
Do what's good for you and your business by participating
If you have an idea for a contest, just let us know
Stay motivated and on track with new contests popping up each month
Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
Buying a "Flipped" House (past Foreclosure) in Alabama - Things You Need to Know!
As a professional Real Estate Agent in the North Alabama area for several years, these are the things I think any potential buyer should know about buying a foreclosure, and, specifically, a previous foreclosure bought by an investor, "fixed up" and "flipped".
In Alabama, the Right of Redemption Law exists: this law allows the original owner to reclaim their property up to one year AFTER foreclosure date! YES - this is TRUE! One year! Now the previous owner (or other persons) must pay the foreclosed amount, plus 12%, plus all MANDATORY repairs (not cosmetic!) to reclaim this property; and in the State of Alabama, less than 1% of such properties are claimed. HOWEVER, in dealing with these types of properties, it can become confusing and cause the innocent buyer to get the "short end of the stick". When buying "flipped" house from a foreclosure, please make sure you ALWAYS use a knowledgeable agent, like me, who is working strictly for you! OR, you the buyer, could be left with nothing!
Now - let's talk about the "flipped" house being sold by the investor who purchased the foreclosure, has "fixed it up" and is now selling it; selling it still at an awesome price - but??? That's the key - the "but"! Many of these listings do NOT show "right of redemption may still exist". Again, you need an agent who can investigate and find this information. Not only does a buyer need to know if their mortgage company will even finance a home with a remainingRight of Redemption, but they need a Buyer's Agent looking out for their utmost best interest - what happens SHOULD an individual reclaim their "right of redemption"?
A knowledgeable Buyer's Agent will write an offer to include the following verbiage: Seller to provide a Right of Redemption Bond. As any good Real Estate Attorney will tell you, this bond protects both the mortgage company -- and the current purchaser. When Buying a "Flipped" House, many mortgage companies will not even fund the mortgage unless seller provides this bond. This bond means that if an individual DOES engage his "Right of Redemption", the mortgage company is paid in full, the current buyer is relieved of any debt to the mortgage company, and the insurance company will go to the "signer" of the Bond to recoup some of the monies. Herein lies the problem --- the reason many "flippers" do not want to issue a Right of Redemption Bond! They then become liable to the mortgage company. Many "flippers" will offer an Indemnity Letter. Don't be fooled. This is not the same thing. The indemnity letter means this: should an individual invoke his "right of redemption", the current buyer "owes" the mortgage company for the balance of the mortgage. The Indemnity Letter states the seller will reimburse the current buyer for these amounts; yes - as long as the current buyer can RETRIEVE those amounts! Sometimes it takes an actual lawsuit - which isn't always successful. Most attorneys and mortgage companies will not accept an Indemnity Letter.
Finally, when Buying a "Flipped" House, make sure your Buyer's Agent puts the following verbiage in any offer: should the property be reclaimed under the Right of Redemption, the Purchaser to be reimbursed for any "out of pocket" monies, including moving expenses, down payments, earnest monies, etc.
Good Luck - and call me if you need a knowledgeable Real Estate Agent!
I can help you sell your home! I can help you buy your next dream home! I can also help you build a home! I am very passionate about real estate sales. I especially like to work with first time home buyers. If I can help you or anyone that you know, don't hesitate to contact me directly ANY time at 356-479-5788.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.