Thank you for your interest. Here are some answers to your questions:
* If you are interested in making an offer, please go to the link listed in the Multiple Listing Services private remarks. If you DO NOT have access to the MLS please send an e mail to [email protected] along with any other questions.
I always recommend making an offer with a quick closing date with the least amount of contingencies. For example, an all cash offer with a 2 week closing date. Do your inspection up front and make sure you have seen the property before making an offer.
1. The property has been foreclosed and is corporate owned. It is owned by a bank/mortgage lender.
2. Utilities may or may not be on.
3. The former owner lost the property previously due to not making their mortgage payments.
4. The former owner is long gone and we cannot ask them for any history on the property. For example, does the air conditioner work?
5. The current owner does not have any disclosures available because they have never occupied the property nor lived in it. If your offer is a go, the owner will generate a lead based paint addenda.
6. All liens have been satisfied and paid off. There is nothing owed on the property now. It has all been charged off. However, if there is a mobile home this is classified as personal property and there may or may not be mobile home titles. Contact the Department of Motor Vehicles if you need to verify.
7. Current owner will pay any taxes, home owner fees, water bills, etc. The title will be clear.
8. Please submit an offer on line at the bank portal listed in the MLS. Banks now have you make an offer directly to them. The listing broker DOES NOT need to sign the offer at this point. Submit a buyer signed offer.
9. There may be multiple offers. If this is the case, follow the instructions given by the owner and note the dead lines. If they call for highest and best, you will need to re submit your offer on the portal. When in doubt, re submit.
10. You can choose the closing attorney.
11. Have the closing attorney hold the earnest money.
12. If you offer is accepted, there will be about 15 pages generated that need to be signed. Generate a commission agreement with your offer from the start. Check the MLS for the commission rate.