A real estate agent’s opinion of the condition of a property you are purchasing is just that, an opinion. As a home buyer you should not rely on the agent’s opinion regarding the physical and/or mechanical condition of the home.
Most agents will suggest that buyers seek the opinion of a professional, licensed home inspector prior to closing on the home. In the State of Florida, the purchase contract allows for a home inspection to be conducted by the buyer within an agreed upon time frame acceptable to both buyer and seller.
Homebuyers need to take advantage of this contingency when purchasing a home. You should be cautious and never purchase a home without a professional home inspection.
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Aug 11, 2009
Aug 10, 2009
With REO houses you may be asked to buy the home with terms and conditions that are favorable to the seller.
Buyers can still purchase REO/bank owned homes at fair market values throughout Central Florida but in doing so they are often faced with accepting with terms and conditions that favor the lender.
These terms and conditions include banks offering the home for sale “as is” and limiting the time period a buyer is allowed to complete inspections. Banks may also require the buyer to pay certain costs customarily paid by the seller an example being document stamps on the deed. Lenders will rarely sign any documentation until the buyer has signed all of the addendum and paperwork requested by the lender. Failure to meet closing time periods can result in forfeiture of escrow or a predetermined per diem the buyer must pay to extend the contract.
Each transaction and lender has different requirements that buyers need to be aware of before executing the contract. Having a qualified experienced agent assisting you with your REO purchase makes good sense and could save you undue stress and hassles.
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Don’t spend a dime of your hard earned money!
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These terms and conditions include banks offering the home for sale “as is” and limiting the time period a buyer is allowed to complete inspections. Banks may also require the buyer to pay certain costs customarily paid by the seller an example being document stamps on the deed. Lenders will rarely sign any documentation until the buyer has signed all of the addendum and paperwork requested by the lender. Failure to meet closing time periods can result in forfeiture of escrow or a predetermined per diem the buyer must pay to extend the contract.
Each transaction and lender has different requirements that buyers need to be aware of before executing the contract. Having a qualified experienced agent assisting you with your REO purchase makes good sense and could save you undue stress and hassles.
Related Florida real estate views:
Don’t spend a dime of your hard earned money!
How can you avoid overpaying for a home in Florida?
Aug 9, 2009
I am thinking about buying a house but I am not sure about my credit. Can I get a free credit report?
Q: I am thinking about buying a house but I am not sure about my credit. Can I get a free credit report?
Federal law allows us to receive a free credit report. I believe we can receive this free report once a year. To receive this free report you can visit Annual Credit Report, or call 877-322-8228. Since you are thinking about buying a house you may also want to consider speaking with Watson Mortgage regarding your credit and any additional questions you might have about financing a home. Contact me to be connected to a Watson Mortgage specialist.
Federal law allows us to receive a free credit report. I believe we can receive this free report once a year. To receive this free report you can visit Annual Credit Report, or call 877-322-8228. Since you are thinking about buying a house you may also want to consider speaking with Watson Mortgage regarding your credit and any additional questions you might have about financing a home. Contact me to be connected to a Watson Mortgage specialist.
Aug 8, 2009
Back to school! When is the first day of school?
It is fast approaching the time for students in Central Florida to be heading back to school. When is the first day of school for students?
- Osceola students which includes Kissimmee and St. Cloud will be reporting back to school August 24th. Osceola County School District
- Volusia County Students will be back to school on August 24. Deltona and DeLand are part of the Volusia County school district.
- Lake Mary, Oviedo and Seminole County student's first day of school is also on August 24th. Seminole Schools
- The first day of school for Orlando - Orange County is August 24. Orange County Schools
Aug 6, 2009
Has it been 3 years or longer since you owned a home?
Has it been 3 years or even longer since you last owned a home? If so now may be the right time to start owning again. Low home prices coupled with the ability to receive up to $8,000 as a tax credit make now a great time to own a Florida home!
There are additional criteria in order to qualify for the first time homebuyer tax credit. Give me a call 407-304-0255 or contact me to find out if you qualify.
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The tax credit to up to $8000, does not have to be repaid!
Video offers an explanation of the first-time homebuyer tax credit
There are additional criteria in order to qualify for the first time homebuyer tax credit. Give me a call 407-304-0255 or contact me to find out if you qualify.
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The tax credit to up to $8000, does not have to be repaid!
Video offers an explanation of the first-time homebuyer tax credit
Aug 5, 2009
Florida receives over $3 million to help residents find work
The State of Florida, Agency for Workforce Innovation has received an American Recovery and Reinvestment Act grant in the amount of $3,078,796 to be used in part for helping Florida residents find work. Press release
Unemployed Floridians are eager to find suitable employment that will allow them to make their house payments and stay in their homes.
Unemployed Floridians are eager to find suitable employment that will allow them to make their house payments and stay in their homes.
Aug 4, 2009
Free HUD home listings for Orlando-Kissimmee
A HUD home is defined by HUD as a residential property acquired by HUD as a result of a foreclosure on an FHA-insured mortgage. As the new owner HUD then offers the property for sale to anyone who can qualify for a mortgage or has cash. At the beginning of the listing the homes are offered to those who will be owner-occupants and if no bids are accepted or received the house then is offered to everyone, including investors.
The HUD bidding process is simple but does require you to use the services of a real estate agent authorized to sell HUD home listings. My office has authorization. The first step is to let us know what area you are interested in so we can provide you a list of available homes, prices and property reports. From there we will make arrangements to show you the listings and then submit your bid electronically.
As of this post there are 9 HUD home listings offered for sale in Orange County which includes Orlando and 4 HUD home listings in Osceola which includes Kissimmee. You can view available homes on your home by visiting this HUD home site. Call or contact me to get started.
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Bring your hammer, your paint brush and other home repair tools and skills.
Real estate in Orlando will continue to be a good long term investment.
The HUD bidding process is simple but does require you to use the services of a real estate agent authorized to sell HUD home listings. My office has authorization. The first step is to let us know what area you are interested in so we can provide you a list of available homes, prices and property reports. From there we will make arrangements to show you the listings and then submit your bid electronically.
As of this post there are 9 HUD home listings offered for sale in Orange County which includes Orlando and 4 HUD home listings in Osceola which includes Kissimmee. You can view available homes on your home by visiting this HUD home site. Call or contact me to get started.
Related Florida real estate views:
Bring your hammer, your paint brush and other home repair tools and skills.
Real estate in Orlando will continue to be a good long term investment.
Aug 2, 2009
Is short sale a better alternative to foreclosure?
How do you know if a short sale is a better alternative to foreclosure?
Is there a difference in how they impact your credit scores? In qualifying to buy a home in the future is one better than the other to have on your record? Do you know what a short sale is? You should check on the difference between a short sale and a foreclosure while you still have time. Contact me.
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The effective date of a short sale contract
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Is there a difference in how they impact your credit scores? In qualifying to buy a home in the future is one better than the other to have on your record? Do you know what a short sale is? You should check on the difference between a short sale and a foreclosure while you still have time. Contact me.
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The effective date of a short sale contract
Foreclosure prevention
Are you an entry-level homebuyer?
Are you an entry-level homebuyer? Is this going to be your first home? Everything starts with you in the housing industry conditions continue to be favorable for purchasing a home for the first time. Low interest rates, stable home prices, seller incentives and the first time homebuyer tax credit make the market attractive to the entry-level buyer.
I will be meeting with entry-level buyers throughout the month of August to answer questions about buying a home for the first time. Contact me to schedule a time to meet. The consultation is free.
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First-time homebuyer tax credit video
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Make sure you understand the home buying process
I will be meeting with entry-level buyers throughout the month of August to answer questions about buying a home for the first time. Contact me to schedule a time to meet. The consultation is free.
Related Florida real estate views:
First-time homebuyer tax credit video
Tax credit does not have to be repaid as long as...
Make sure you understand the home buying process
Aug 1, 2009
Orlando Florida foreclosures, buy them before the bank takes them back
The competition between buyers looking to buy Orlando Florida foreclosures is heavier simply because of the limited number of REO or bank owned property for sale. Right now in Orlando 580 of 7500 listings for are bank owned-foreclosed-REO.
However there are also over 1100 homes listed for sale that are in foreclosure or pre foreclosure according to the listing agents. Investors, first time home buyers or anyone thinking of making the very best deal possible should not pass up taking a look at these properties. Sellers are eager to move the property and in some cases lenders will allow the home owner to sell their home for less than is owed which could mean a better deal for the buyer.
Contact me to receive a list of these Orlando Florida foreclosures, in foreclosure and pre foreclosure homes.
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However there are also over 1100 homes listed for sale that are in foreclosure or pre foreclosure according to the listing agents. Investors, first time home buyers or anyone thinking of making the very best deal possible should not pass up taking a look at these properties. Sellers are eager to move the property and in some cases lenders will allow the home owner to sell their home for less than is owed which could mean a better deal for the buyer.
Contact me to receive a list of these Orlando Florida foreclosures, in foreclosure and pre foreclosure homes.
Related Florida real estate views:
Condos at foreclosure prices
Foreclosure homes in Florida
Where do you go to bid on Orlando mortgage foreclosure sales?
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