Everything you always NEEDED to ask but forgot to ask

By
Real Estate Broker/Owner with Riverbend Realty, Cape Girardeau, MO 2004008944

Scattered over the last two plus years are pieces I have written on how to swim with the sharks in the foreclosure market. Agents and buyers, alike, often struggle with parts of the process, so I am including links below to some of my "how to" entries.

Facts about purchasing a HUD property that you may not know: The Buyer has to Turn on the Utilities?

Registering and bidding on a HUD property: Illustrated guide to using HUDHomestore

Time of day to make your client's bid: Timing DOES matter on BidSelect

REO basics, including what the initials mean: Rio? As in Rio de Janeiro?

Representation in bids and auctions (it's not eBay): Dear Online Bidder

Printing the emailed contract when it has an electronic signature: Why does the signature disappear?

Dewinterizing properties: NO. The Water will NOT be on!

Making an offer as an owner occupant: Lying Could be a $10,000 Mistake

Finding treasure

Of Disclosures and Such: Why isn't there a disclosure?

Sending a copy of the Earnest Money check: NOT so fast!

When an offer is accepted quickly: Is that Fishy?

Tutorial on how to make a bid on the BidSelect website: What BID? I just want to turn in a contract to the listing agent

Making a back-up offer on an REO: Will They Take a Back-up Contract?

What if your offer has expired without a response: Time's UP (part 2)

Why won't the listing agent just answer a simple question: Do You Have Any Offers Yet?

HUD clear to close: Now What?

Auctions and the 5% Premium: Add it up!

Is a foreclosure a good deal when buyer needs an FHA loan? How Do You Know if it Will Pass FHA?

Of railings and such (another FHA requirement): Wing wall? And it needs a railing?

Setting client expectations for an REO purchase: Head 'em off at the pass!

Lockbox codes for licensees only:  What is the lockbox code?

Fannie, Freddie, and HUD website links: HomePath is the place to start looking for a foreclosure bargain

Save money for 30 years: HomePath financing

The battle of blue ink: "Wet signature" What is that?

How to make a Highest and Best offer that wins: Cash is king--or is it?

Filling out the Multiple Offers Form (Highest and Best) Yes, you are the SELLING agent

Bargain hunting buyers: "I'm looking for a foreclosure," the caller said

The trick to scanning documents: Help stomp out 35 MB files!

What price to offer on an REO: I Know What it Sold for at the Courthouse and I know... part 2

Check your NAID status if you have an REO buyer: Are you NAID-enabled or NOT?

If you are the winning bidder at an auction: GOING, Going, Gone... NOT!

Foreclosures for PENNIES on the DOLLAR?

From the REO agent: FAQs and answers

Do NOT buy Foreclosure Lists!

Possession prior to closing You don't own it until you OWN it! 

What to tell the buyer whose bid was beaten What do I tell my buyer?

I cannot believe how long it took me to compile the list above and the links. Maybe, though, the compilation will help some agent or buyer who is getting ready to make that first offer on an REO property.

If you find a broken link, please let me know!

* * * * * * * * * * * * * * *

If you are looking for a foreclosure in Cape Girardeau, Perry, N. Scott, or Bollinger counties, I am the region's most experienced REO agent. As the area's ONLY Fannie Mae direct listing agent, I list more foreclosure properties than any other agent in this MLS. I am the only local agent approved to both list and sell HUD properties, so give me a call if you are looking for help with the purchase of a foreclosure property.

______________________________________________________

http://www.homepath.com/  for Fannie Mae properties

http://www.homesteps.com/  for Freddie Mac properties

http://www.hudhomestore.com/ for HUD properties (foreclosures that were FHA financed)

 

 

Posted by

* * * * * * * * * * * * * * *

If you are looking for a foreclosure in Cape Girardeau, Perry, N. Scott, or Bollinger counties, I am the region's most experienced REO agent. As the area's ONLY Fannie Mae direct listing agent, I list more foreclosure properties than any other agent in this MLS. I am among the few local agents approved to both list and sell HUD properties. Give me a call if you are looking for help with the purchase of a foreclosure property.

______________________________________________________

http://www.homepath.com/  for Fannie Mae properties

http://www.homesteps.com/  for Freddie Mac properties

http://www.hudhomestore.com/ for HUD properties (foreclosures that were FHA financed)

____________________________________________________________________________________________

If you want up-to-the-minute real estate information, the only way to get it is to have an agent set you up on auto-notify with immediate delivery. Your listing information will come directly from MLS only when it comes from an MLS member. You willl not have to wait for the information to roll to those other websites, and you will not have to check multiple sources. It's free, so why not give me a chance to help you in your search?


NO OTHER SOURCE is as complete or as fast as your local REALTOR®’s source. This is not just an advertisement for REALTORS®--it is information about how the system really works.

Click to email Liz   Call on Liz Lockhart for A Higher Degree of Excellence

©2015 Liz Lockhart (if you reblog, link back and leave copyright tag intact) Protected by Copyscape Originality Check

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. C. Lloyd McKenzie 05/25/2011 02:12 PM
Topic:
ActiveRain Community
Location:
Missouri Cape Girardeau County Cape Girardeau
Tags:
reo
buying a foreclosure
hud foreclosure hud reo
fannie mae reo property
cape girardeau real estate agent

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Rainer
482,868
Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

This list is beyond AWESOME... thanks so much for sharing... I will be sure to reference it!

May 19, 2011 04:45 PM #1
Rainmaker
344,525
Yolanda Hoversten
Berkshire Hathaway HomeServices Elite Properties - O'Fallon, IL
Broker - O Fallon, IL Real Estate

Hi, Liz! As Liz (2 Liz' sitting in a tree... lol) said above, awsum. :) I will bookmark this and read when I'm awake. Thanks for the wealth of information!

May 19, 2011 04:48 PM #2
Rainer
85,188
Scott Silverstone
William Raveis Real Estate - New Haven, CT
www.CTProperty.com, Connecticut Luxury & Waterfront Realty

Liz - What a fantastic list.  I can't imagine the hours of research you conducted to compile all this information.  Suggested & Bookmarked.

May 19, 2011 04:54 PM #3
Rainmaker
303,859
Liz Lockhart
Riverbend Realty, Cape Girardeau, MO - Cape Girardeau, MO
GRI, Cape Girardeau Real Estate

Liz~ Thank you for the kind words. Feel free to reference "Liz" any time!

                                                                ~Liz

May 19, 2011 05:03 PM #4
Rainmaker
303,859
Liz Lockhart
Riverbend Realty, Cape Girardeau, MO - Cape Girardeau, MO
GRI, Cape Girardeau Real Estate

Yolanda~ That is just 2 cute! Now, go get some sleep... You are in my time zone, so I know that we both need to turn off computers...

May 19, 2011 05:05 PM #5
Rainmaker
303,859
Liz Lockhart
Riverbend Realty, Cape Girardeau, MO - Cape Girardeau, MO
GRI, Cape Girardeau Real Estate

Thanks, Scott! I'm telling you, writing a different blog tonight would have taken much less time than putting in all of those titles and links. Thank you for the SUGGEST!

May 19, 2011 05:07 PM #6
Ambassador
1,041,270
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Liz, wow, great list of posts you have written, great job!

May 19, 2011 11:22 PM #7
Rainer
77,497
Jason M. Keith
Caliber Home Loans - Parker, CO
Equal Housing Lender

Very impressive list Liz!  I see a lot of agents saving this one to come back too.

May 20, 2011 09:51 AM #8
Rainer
240,014
Janet Jones
Just Your Style Interiors, LLC - Kihei, HI
Home Staging, Interior Redesign Kihei, Maui, Hawaii

Liz--Wow, this is a great list.  I'm bookmarking it because I have a great interest in the REO market and you seem to have answers that no one else has come up with.  Thanks. 

May 20, 2011 10:30 AM #9
Rainmaker
508,942
C. Lloyd McKenzie
Albuquerque, NM
Living Albuquerque

Liz...thanks for providing us this list.  I will re-blog it

May 25, 2011 02:08 PM #10
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Rainmaker
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Liz Lockhart

GRI, Cape Girardeau Real Estate
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