Foreclosure Secrets Revealed

Archives by Tag 'Foreclosure'

Best ways of finding foreclosures

So how do we find these great deals? One website I’ve found is foreclosure.com. Being a Realtor I can use my MLS to see if the properties listed on there are current. Foreclosure.com is very up to date. There were only a couple of homes in my area that were NOT current and all were [...]

The internet, is a powerful tool to find, research, and buy REOs.

I have gone through and checked out a great number of Foreclosure sites and here are my very favorites and un-favorites. foreclosure.com : excellent site! Very easy to use, also gives you addresses on a map for ease of finding the properties. You also get a free week to try out the site before committing [...]

Is it better to buy a foreclosure, or a short sale?

There is a big difference between a short sale and a foreclosure, although both might be a really great deal for the buyer. The big problem with short sales is you never know if the bank will actually take the price they have put on the property. A short sale means that the owners owes [...]

How do I know it is a good investment?

This is one of the most important questions to ask yourself. Another TRUE STORY will illustrate this point perfectly. Meet Zack and Sara, they are first time homebuyers wanting to buy a really good deal. Anne, a Realtor in my office, immediately shows them some excellent buys. Nothing is quite what they want until they [...]

Pre-Qualified what does it mean, how do I get it?

Pre-qualified is very important when putting in offers on foreclosures. Pretty much all the banks require you to have a pre-qualification letter from your lender in order to put in the offer. If you are paying cash you need to have proof of funds, like a bank statement, or a letter from your bank saying [...]

Healthy homes, lead hazard control, radon, off gassing, what to test for.

In this age of heightened awareness about harmful chemicals in our clothes, in our air and on our skin causing life threatening illness, how do you know what is best and healthiest in your home? What should you test your new foreclosure for? The way to know what to test for is to take a [...]

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 [...]

Final walk through inspection

Before you go to the closing table you will have an opportunity to do a final walk through inspection. Which just means you can go through the house and make sure it still has everything you wanted, and nothing you didn’t. Buying a foreclosure will greatly limit your ability to request the sellers to do [...]

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 [...]