Max -
Make sure you work with REALTORS who are licensed in State where the property is located. In California, the Negotiator must be a Real Estate licensee with E&O insurance in order to negotiate short sales.
Best of luck again,
Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END Transactions in our Brokerage. There is NO benefit to the Seller or Buyer and only benefits the Agent. Also, NEVER use your RE Agent / Broker as your Lender or vice versa. Also, be careful when using Real Estate Broker-owned Escrow and Title Companies - they can be loads of trouble.
888-391-5245 Direct Cell
THOM@THOMCOLBY.COM
DRE# 01398570... more
Hi Beverley, Check out websites that offer information about the different schools in areas you are interested in- check the statistics and then decide for yourself, you can also ask friends, relatives, etc. When you decide- check with your mortgage broker/banker and find out what mortgage/financing you can get+ your down payment= how much of a house, Condo or Coop you can afford to buy. Terry K 718-614-3167 cell or email me therese.korahais@elliman.com... more
You can expect to get a cramped hand from signing your name so many times!
You'll arrive at the closing, typically with your lawyer and/or realtor. The bank will be represented by their attorney too. Occasionally the seller's attorney will be there too.
There are many costs associated with a closing, and they can vary by area. Here's a list of some common ones:
Hazard Insurance
Prorated first year of taxes (school, county, village, etc)
3 months of escrow for taxes and insurance.
Appraiser's fee*
Inspection fees*
Recording fee and stamps
Courier
Your attorney's time
Title insurance
Abstract (maybe)
* Paid out of closing... a credit may be offered at closing
For what it's worth, I'm not a paralegal. I do IT work for a law firm that specializes in closings and got these items from a template I helped them create.... more
Tina,
Take a look at the blog on my website when you get a chance, it explains REO/Shortsales in detail.
You should also consider shortsales in addition to REO's.
Thanks.