3405 Alabama St Bellingham Home for Sale - Chris Farkas Real Estate
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Hi
17 years ago
Wednesday, March 25, 2009
Tuesday, March 24, 2009
Monday, March 23, 2009
What happens if my bank owned closing gets delayed?
This one can be tough for the buyer. Unlike most resale purchases, the bank expects you to honor your agreement and close on or before the day agreed upon. I can tell you from experience there are many, many hiccups that can happen along the way but the bank doesn’t care, they want it closed per the agreement. So if your lender is slow to react and respond and doesn’t get the documents to closing on time for instance, there is usually a per diem charge in the contract that the bank will expect you to pay from the agreed upon date through the actual closing date, and this usually is non- negotiable unless it’s the banks own fault.
We recommend only lenders who are well versed in working with these kind of deadlines as well as lenders and repair companies who can accomplish what is needed in a timely fashion.
We recommend only lenders who are well versed in working with these kind of deadlines as well as lenders and repair companies who can accomplish what is needed in a timely fashion.
Chris Farkas is a Realtor with EXIT Realty Associates in beautiful Bellingham, WA
www.RealBellingham.com
www.SoundShortSale.com
www.WhatcomBankOwned.com
www.BellinghamMarketValue.com
Wednesday, March 18, 2009
Is a bank owned home a bargain or a steal?
It's commonly assumed that bank owned homes are a real steal and one should run out blindly and buy it, but that’s not always the case and mostly is not. Banks are much more motivated than most sellers for sure as they have thousands of home “in stock” and want to get them off their books as soon as possible, but they also know they don’t need to make their losses any worse than they already are. When considering buying a bank owned home, you need to be as prudent as you would be in any big purchase and check your comparables to make sure you are getting at least a good buy, which you usually are.
Chris Farkas
EXIT Realty Associates
www.RealBellingham.com
www.SoundShortSale.com
www.CHristineFarkas.com
Chris Farkas
EXIT Realty Associates
www.RealBellingham.com
www.SoundShortSale.com
www.CHristineFarkas.com
Saturday, March 14, 2009
Bank owned / short sale – what is the difference?
A bank owned home is just that – a home, owned by the bank taken back as what the bank calls “real estate owned” – or REO as the term is commonly known. This was usually done in the form of a foreclosure or the sellers gave the house back to the bank with a deed in lieu of foreclosure. The bank owns the house outright and has put it on the market to sell.
A Short Sale is where the seller owes more money on the house than its worth and has contacted the bank to sell it for “short” of what’s owed. Typically these can take many months to even get an acceptance and even longer to close.
Chris Farkas
EXIT Realty Associates
www.RealBellingham.com
www.SOundShortSale.com
A Short Sale is where the seller owes more money on the house than its worth and has contacted the bank to sell it for “short” of what’s owed. Typically these can take many months to even get an acceptance and even longer to close.
Chris Farkas
EXIT Realty Associates
www.RealBellingham.com
www.SOundShortSale.com
Wednesday, March 11, 2009
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