Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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In agreement w/ strong background check(s).
Repair/maintenance costs, sadly is something a lot of people seem to not account for. You and I seem to factor this in; good for us.
Everything is...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
First off, any landlord can get a loser for a tenant. Do a good background and credit check and be picky about who qualifies. You want people with good credit and a solid income\good job (assuming...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
1) Anyone who wants to play landlord needs to watch the movie Pacific Heights. This will give you a WORST CASE scenario. Sadly, the movie has some basis in reality, as crap like that has probably...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
So in the end, you probably got the house for more or less what it was worth on the open market. That is fine if it works for you, but there was no real bargain here imo. Like I said, in my limited...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
I bought a short sale and this is how it went for me:
House was listed for $150k and we offered $120k. The owner accepted the offer quickly and it was sent to Wells Fargo (her lein holder). Wells...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
Anywhere in Queens County, NY
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
what neighborhood are you looking at?
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
Don't waste your time with a short sale in this market.
1. You won't get a good deal on it.
2. It will take forever ranging from 6 months to 2+ yrs
If you still want to pursue it, hire an...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
equity means absolutely nothing in a foreclosure.
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
That was exactly the timing to buy, back between late 2008 and first half 2010. The next recession hopefully is going to be more epic than the last one now that everyone is borrowing when the economy...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
I purchased my house as a short sale 10 years ago. The only real problem was that the previous owners left the place a mess (trash in the back yard, hole in the wall, dirty, etc...). They didn't...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
Thanks.
I really need to read up a lot more on this. It sounds complicated.
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
Yes, though it depends on the situation\the amount of equity they have in the place and the market price. Someone who is being foreclosed on because they lost their job and now can't meet the...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
Do foreclosures have the same issues?
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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Depends...the bank may be in foreclosure in lieu of a short sale and the owners uncooperative\spiteful. Plus you have to realize that in many cases the bank sets unrealistic prices because they...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
I would not rule them out, but if you think you are going to find a bargain you will likely be very disappointed. I would just concentrate on the usual sales. Short sale bargains may be found for...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
I don't mind it taking a few months. I already know my whole process to buy and rent will take a while. Ive been looking for a few years and another year is not a big deal in the big picture. The...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
dW and I looked at a couple short sales.
First, "owners" gave exactly zero shits about showing the home. They didn't bother to leave when we came by, place was a mess, etc.
Second, realtor...
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
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20 Replies
2,416 Views
Thanks. So your suggestion is to avoid and to focus on regular home sales?
Buying a short sale home: Share your experience
Thread created 07-23-2018 by dealnewb
0 Score
20 Replies
2,416 Views
Have not bought one myself, but have looked at a number as an investor. Red flags everywhere usually. It can run the gambit. Generally you will not get a great deal for anything that is good...
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