Posts Tagged ‘buying’

Question by Radman: What should I know about buying a “short sale” house?
I understand there is no warranty and the buyer has to pay all the closing costs. Can I offer lower than the short sale listing price?

Best answer:

Answer by patrick
You can always offer less than asking. in addition, if you are using a real estate agent, you need to make sure the commission costs are included in the purchase price.
Be prepared for a long process. Bank owned property sales move at a snail’s pace. Often, the bank cant find the deed, because the mortgage has been sold so many times, so it would be prudent to ask if the bank has possession of the deed early in the process.

Know better? Leave your own answer in the comments!

Trying to buy a property on a short sale, and wanted to see if people negotiate\ or have their agent negotiate directly with the bank, . I feel like the listing agent is pulling my chain.

Is there a website\ public records you can go to, to figure out which banks has the mortgage to the property?

Any advice is appreciated.

Product Description
Most people love to hear about the sale from hell. That is, someone else’s sale from hell. As Mark Twain once wrote, “By trying, we can easily learn to endure adversity. Another man’s I mean.” In Real Estate Sales from Hell, you’ll learn about real estate from over 50 true-life stories of people who have experienced various degrees of hell. The little boy, for example, who didn’t wish to move and who set mousetraps around the windows of his house to sabot… More >>

Real Estate Sales from Hell: What You Don’t Want To Do When Buying or Selling Homes, Repos, Probates and Short-sales

I am buying a short sale house in california. House has some code violations citations. Real estate agent showed me about 1500 dollar in citation and told me sign it. She said this is just so that I am aware of these citations and bills aganist the property but she said I don’t have to pay for this because the last owner or lender will be responsible. So Do you think she is lieing to me or escrow company will clear all that when we close the escrow.

I am eyeing a house, but does that mean the short sale is owned by the bank? The adverisement in front of the house said the bank owns the house. Currently, no one is living in the house.

Bcuz I’ve heard both it’s a good and bad thing so I’m just curious because were looking at some homes that are in that short sale mode. And what exactly does short sale mean when buying a home?