fha: Closing the short sale
- 10/01/15 01:15 AM
We took the listing on April 9. We closed it on September 25. My partner, Bill Taylor, brought this one in. The owner had it briefly listed with another agent but that other agent did not give her copies of the paper work and lowered the price of the home without asking the owner. Our client lived in the home 9 years. She was a divorced lady becoming an empty nester. She was a very competent office manager earning in the mid 40's. In November the owner sold the business and 2 weeks later she was out of a job. My partner's wife … (0 comments)
fha: Rural Development Homes
- 01/19/14 09:26 AM
Today and tomorrow I am showing homes that qualify for rural development loans. These are zero down loans with no private mortgage insurance. It is really great for people without much down payment. What is the catch? You have to buy in a elegeble area. How do you tell if the area is elegble? Plug the address into this website! In the Treasure Valley that leaves out Boise, Meridian, Eagle, most of Nampa and most of Caldwell. All other areas seem good. The house has to meet criteria similar to FHA but there is a rehab loan available. … (2 comments)
fha: Not all bank owned properties are created equal...
- 01/13/12 12:27 PM
During 2010 and 2011 most of my work was as a buyers agent for REO's or bank owned properties..... One would think they are all the same but they are not.....I know HUD does not like to be considered REO or bank owned by for the purposes of this comparison I will include them in the description. Bank owned property is property that the bank foreclosed on or took in leiu of foreclosure. The bank owns the property and wants it off the books... They often sell at a discount. More importantly not all bank owned properties are created equal..... So … (4 comments)
fha: A guide to buying a HUD (government owned home).
- 05/19/10 12:09 PM
Well I have sold only bank owned property this year. I can sell all types including HUD homes. Click here for agent with HUD Number in the Treasure Valley of Idaho luding HUD homes. The cool thing about HUD homes is that they have a $100 downpayment progrom for FHA buyers. The buyer needs to put $1000 earnest money down but gets $900 back at closing. This is on of the almost zero down programs left. The bidding always starts with owner occupied bidding. The buyer has to sign a paper at closing that they intend to occupy the home for … (3 comments)
Names have been change to protect the identity of individuals The problems started shortly after we were under contract. The buyer had applied for a loan and had 24 hours to give us a commitment letter. After 48 hours had passed I called the other real estate agent and asked him for it. He didn't have but he did send a good faith estimate. After conversation with the buyer's agent I discovered that the loan officer was a … (2 comments)
This is a blog about all things real estate (and a few extras). I blog about my buyers, sellers, listings, short sales, the real estate market. I am internet savvy and am trying to learn more skills. I like blogging because I get to share information with other real estate professionals and my clients. I can find you a great home in the Treasure Valley. I was the Democratic Nominee for CD2, Idaho for the US Congress. I have two website: http://www.debbieholmes.net.
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