Buying

How to buy a foreclosure – Money.CNN Article

    How to buy a foreclosure Many buyers, especially first-timers, hope to purchase a foreclosed property at a bargain price. While purchasing a foreclosed home can be a wise choice for some buyers, it is important that buyers understand the differences in buying at different stages of foreclosure and be prepared to take on the challenges typically associated with each.     KEEP THIS IN...

Buyers, Do Your Financial Homework Before Looking At Homes by Aaron Zapata

Buyers, Do Your Financial Homework Before Looking At Homes Getting a loan for a property has become increasingly difficult in today’s crazy financial real estate market. On one end, banks are losing millions of dollars through shorts sales and foreclosures and on the other hand, they are afraid to make the same mistake with new borrowers. Therefore, getting a loan is complex and often...

Who sets the listing price on a Short Sale? Why does the bank want more money than the asking price in the MLS?

Who sets the listing price on a Short Sale? Why does the bank want more money than the asking price in the MLS? I often find my customers confused and sometimes angry when the bank finally approves a short sale, but at a higher price than it was listed for.  Why does this happen? The listing price is established by the owner of the home and the listing agent.  The price is typically just below market...

Buying a home? These documents are needed to make a complete offer.

Documents needed to make a good offer. Are your offers being rejected?  Here is what is needed to have a complete offer package.  If you do not have the following presented from the start, your offer will usually not be considered. Copy of the Good Faith Deposit Check.  I recommend it be more than 1% of the offer price. Copies of Bank Statements (Proof of Funds). There should be enough money in the...

What are buyer closing costs and how much are they? Buying in Orange County, CA

What are buyer closing costs and how much are they? Summary:  Closing costs are all the fees that a buyer is responsible for paying when buying a home and can range anywhere from 1% to 4% depending on the loan program selected.  Fees are higher for FHA loans. These fees DO NOT include the down payment. Closing costs are broken down into the following: Loan Fees Appraisal – this ranges from $350 to...

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