Blog Archives

How to Guide: Real Estate Closings – Part III

Who would have believed there was so much to do or remember??

If there is a power of attorney for either party, the buyer or seller, notify the title company as soon as possible. They need to review the power of attorney for accuracy and durability. Read the rest of this entry

Short Sale vs. Foreclosure – What’s the difference?!

I have had several questions over the last few months about the difference between purchasing a short sale or a bank owned foreclosure.  When it comes to financing there is not a difference between the two.  When you’re looking at homes and you see that it is a short sale, there a several things you need to take in mind.  Read the rest of this entry

WHY DID MY SHORT SALE GET REJECTED?

WHY DID MY SHORT SALE GET REJECTED? – Part I

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ESCROW ??

Escrow as Earnest Money

 Earnest money, also known as escrow, refers to the money a buyer includes with their purchase offer to indicate to the seller that they are serious about purchasing the property.  Yet, that is not the only use of the word. It can be used as a verb or a noun, even an adjective. It is used as a noun, as it is defined previously. As a verb, it means to place an item into an account. And to be used as an adjective, you may hear the term “escrow agency”, a company that has fiduciary responsibilities over a transaction.  For the purpose of this blog, it means earnest money. Read the rest of this entry

You Can’t Beat the Competition with Low-ball Offers

Gone is the day when a buyer can find multiple homes of choice to bid on.  It used to be a game to some!  Finding a bank-owned home for sale these days is hard enough. Actually buying one is an even bigger problem.  Last year the supply of bargain-basement foreclosed homes shrank, as banks temporarily stopped trying to repossess properties to review possible paperwork errors.  But 2012 is proving to be a different story. Lenders are starting to resume foreclosure filings, so more of these distressed homes are expected to be listed for sale. Read the rest of this entry

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