Foreclosure Secrets Revealed

Archives by Tag 'Earnest Money Agreement'

How do I find the very best investment in the shortest time?

Research is the key. The first place you should go, is your local Realtor. They can easily and quickly search through the MLS and find you lots and lots of foreclosures. The key to finding the good deals is checking on new listings daily. Most of the time the really good deals only last a [...]

You have found the Perfect Property, now what?

Now is the time to gather your “Team” and show and discuss all the good and the bad in relation to the property. In proving to them why this is a good deal it will show you what parts of your plan might need work and will help you to refine your offer. The offer [...]

How Healthy is My Foreclosure?

Is it built before 1978? If so there is probably lead paint on the walls. Safe if not chewed on or disturbed, so if renovating use a mask and safety gloves and goggles when removing walls or wood work. Is there mold? The fact is, all homes have some mold. If you see it on [...]

Escrow Insurance equals assurance to you.

If you are purchasing your foreclosure from the bank why use an escrow officer with your local title company to close the deal? Because you are not just paying them to help both parties through the transfer of title process. You are also purchasing title insurance. That means they have researched the property and made [...]

The closing date what you need to prepare.

By 14 days until you are scheduled to close you should have ALL contingencies met and cleared, and be set to close. Why so early? Because things can come up and you don’t want to be scrambling to finish the deal. The earnest money agreement is only binding if within the allotted time frame. So [...]

Glossary and Real Estate Terms

Abstract of Title- A summarized history of the title of real property. Acceleration Clause- A clause that provides, at the option of the lender, the entire unpaid balance of the note would be due immediately upon failure to make a required monthly payment. Accrued Interest- Accumulated interest due but not paid. Acknowledgment- Legal declaration before [...]