 |
|
|
Harma Hartouni, GRI, CRS, is a Broker and Team Leader of Keller Williams Encino/Sherman Oaks, specializing in REOs, Short Sales, Luxury Homes and Commercial Properties.
Harma Hartouni is a Broker of Keller Williams Encino/Sherman Oaks, the fastest growing office in Southern California. A graduate of The Real Estate Institute (GRI) and Certified Residential Specialist (CRS), Harma's specialties include REOs and Short Sales, not to mention Fine and Luxury properties. Currently he has taken on supervision of his rapidly growing Luxury Home and KW Commercial Divisions, the latter also encompassing investment properties.
If you are seeking a professional who exemplifies integrity and success, and guarantees personalized service for maximum results, give Harma a call.
The Harma Group at: 818-783-3736
www.HarmasListings.com
Buying bank owned properties
There is a lot of interest in buying bank owned properties these days. A lot of information, some good and some bad, is floating around about the subject. Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know “the secret formula”. The fact is that there are no secrets, and to make money does require effort.
What’s an REO?
REO stands for “Real Estate Owned”. These are properties that have gone through foreclosure and are now owned by the bank or mortgage company. This is not the same as a property up for foreclosure auction. When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process. You must also be prepared to pay with cash in hand. And on top of all that, you’ll receive the property 100% “as is”. That could include existing liens and even current occupants that need to be evicted. A REO, by contrast, is a much “cleaner” and attractive transaction. The REO property did not find a buyer during foreclosure auction. The bank now owns it. The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing. Do be aware that REO’s may be exempt from normal disclosure requirements. In California, for example, banks are exempt from giving a Transfer Disclosure Statement, a document that normally requires sellers to tell you about any defects they are aware of.
Is it a bargain?
It’s commonly assumed that any REO must be a bargain and an opportunity for easy money. This simply isn’t true. You have to be very careful about buying a REO if your intent is to make money off of it. While it’s true that the bank is typically anxious to sell it quickly, they are also strongly motivated to get as much as they can for it. When considering the value of a REO, you need to look closely at comparable sales in the neighborhood and be sure to take into account the time and cost of any repairs or remodeling needed to prepare the house for resale. The bargains with money making potential exist, and many people do very well buying foreclosures. But there are also many REO’s that are not good buys and not likely to turn a profit.
Ready to make an offer?
Most banks have a REO department that you’ll work with in buying a REO property from them. Typically the REO department will use a listing agent to get their REO properties listed on the local MLS. Before making your offer, you’ll want to contact either the listing agent or REO department at the bank and find out as much as you can about what they know about the condition of the property and what their process is for receiving offers. Since banks almost always sell REO properties “as is”, you’ll want to be sure and include an inspection contingency in your offer that gives you time to check for hidden damage and terminate the offer if you find it. As with making any offer on real estate, you’ll make your offer more attractive if you can include documentation of your ability to pay, such as a pre-approval letter from a lender. After you’ve made your offer, you can expect the bank to make a counter offer. Then it will be up to you to decide whether to accept their counter, or offer a counter to the counter offer. Realize, you’ll be dealing with a process that probably involves multiple people at the bank, and they don’t work evenings or weekends. It’s not unusual for the process of offers and counter offers to take days or even weeks.
www.HarmasListings.com
1/24/2009 As a real estate investor, I have had the pleasure of working with Harma Hartouni on multiple transactions, both as a buyer, and a seller. Having worked with many realtors over the years before I met Harma, I can honestly say that he has provided me and my colleagues with truly unparalleled service. Harma's honesty and integrity as a realtor has been consistent in all our business dealings, and he clearly demonstrates a sincere concern for his clients, and is extremely pro-active and responsive to his clientele. The quality of services that he and his Team continue to provide us with, is truly refreshing. Darren Chew, Encino, CA
12/19/2008 My husband and I bought our first home from Harma Hartouni, and have since retained his services on other purchases and have also happily referred him and his team to many friends and relatives. Harma has a great can-do attitude, has always been up front with us in advising and educating us to make informed decisions, and has shown great patience and attention to detail, giving us a great experience and allowing us to find our dream home! In addition, he has a great customer-oriented team of professionals working with him, and they have always ensured that all of our client needs are met. I passionately recommend Harma Hartouni to those who want to work with a reliable and effective real estate agent! Beth Cohen, Los Angeles, CA
10/01/2008 I retained The Harma Group's services for the sale of my apartment building two years ago, and am now retaining their services again on behalf of my parents. This is a team of extremely hard working and ethical agents, who put the customer first, and have always provided me with excellent service. From responding quickly and making sure all of my needs are met, to making sure that I am fully aware of all aspects of the sale/process, this team led by Harma gets a 100% satisfaction rating from me as a client. Alyson Steele, Sherman Oaks, CA
11/27/2007
"Harma did an awesome job in helping us find a new home. He found a great house in a great location at an excellent price. He helped us with every aspect of the purchase. He made the transaction easy and smooth, and even helped us find great financing. Purchasing a home is supposed to be stressful, but he took all the stress out of the situation. I would definitely recommend using Harma if you want to make your home buying experience a smooth and easy one."
Ron Barak D.C. & Russell Harris
--------------------------------------------------------------------------------
9/21/2007
Dear Reader,
You are probably reading this right now trying to research and find the agent that will best fit your needs in finding the home of your dreams or selling your home to the most worthy buyer. Please look no further. Whatever your needs are I am sure Harma can make it happen for you, the same way he made it happen for us.
I met Harma four years ago, when I was looking at an open house (just wishful thinking at the time). I think there was an instant connection, I felt that I could trust him and felt comfortable with having him as my agent. He said he could help my husband and I find the house we were looking for if we were interested. We looked at a couple of places, realized we were not ready for a commitment like buying a home and left it at that. Harma was not upset that we wasted his time; instead he became a friend to us and never pressured us in looking for a home. A year passed by and we decided it was time again to look for a house, so we called Harma. He said it was a crazy market, but he would help us look for a home. We appreciated his honesty, and he was right the market was crazy and we got caught up in a bidding war with a couple of places and lost, because the market was crazy, but we weren't. Through the past four years he came by and visited us, invited us over to his house and even came to see our daughter after she was born.
So after all that time, we finally decided this time we were serious and decided to buy a house. We called Harma and said we were ready. Despite our previous attempts he did not blow us off because we were not serious enough the first two times. Instead he dived head first into finding us a house we could call home. So I am extremely happy to say we just got the keys to our very first home. We hit a couple of bumps in the road through the Escrow process, and being first time home buyers we had a lot of questions and concerns, but Harma went above and beyond the call of duty and was there whenever we needed him. He even called us while he was overseas on vacation (one that he had planned months in advance) to make sure everything was going smoothly. He held our hand every step of the way.
So if this does not convince you that Harma is the agent for you, then I can't imagine anyone else who would.
Harma's loyal and satisfied clients,
Talin, Patrick, and Ayla
--------------------------------------------------------------------------------
6/28/2007
"Dear Harma,
I would like to take the time and thank you for making the purchase of a home a pleasant experience for me. I would like to personally thank you for all the help and support you have provided for several weeks throughout the entire process.
Honesty and integrity; two of your strong points, taking pride in what you do, that was evident from day one. Not once I felt you were not fully honest and upfront with me. In addition, complete professionalism in all aspects of your work including, courteous, well spoken, knowledgeable, providing different options, and scenarios to create a comfort zone for me as a buyer. Another one of your strengths is your work ethic. Always full of energy and positive attitude, always on time for showings, well informed and prepared with complete detailed information bout the particular property.
In conclusion I would like to state the fact that working with you provided complete peace of mind in terms of trust, experience and knowledge. Again I would like to thank you for all the help and services provided.
Yours truly,"
Rodrik Khosovian D.C
--------------------------------------------------------------------------------
6/12/2007
" I finally purchased my first home and it would not have been possible with out Harma’s help and guidance. He helped me look for the right home in the right area. He spent over four months until we found the home that was just right for me. When we finally opened escrow, Harma explained step by step on what the procedures were going to be. He put me at ease about any questions or concerns that I had and was always just a phone call away. My overall experience was great one and would not hesitate referring Harma to any of my family or friends.
Sincerely,
Alan Grigorian
Countrywide Home Loan"
--------------------------------------------------------------------------------
2/02/2007
"My wife and I were working with a short timeline to sell our home.
Working with Harma was the smartest thing we could have done.
His professionalism and dedication to us and our goals, was stellar, and so was his market knowledge and understanding of our neighborhood and how best to market our home.
We have had an excellent experience working with Harma, and recommend his quality of service to anyone who is looking for a smooth and efficient home sale."
Mr. & Ms. Kaufman,
Toluca Lake, CA
--------------------------------------------------------------------------------
1/24/2007
"Hi Harma. Here is my comment about you:
Harma is one of the most knowledgeable and reliable real estate agents I have come across and worked with. I feel comfortable knowing that he always has his client's benefit in mind. As a result, I've always received no less than what I deserve through our business transaction each step of the way. "
Talin Malekian
--------------------------------------------------------------------------------
5/28/2006
To: Harma Hartouni
"I couldn't have asked for a better team to market and sell my projects. Both Roubina and Harma have proven their professionalism time and time again. Their skill in developing a strategic marketing campaign which is in tune to the pulse of the market has earned them my full confidence. Their sensitivity in servicing the specific needs of both buyer and seller are unparallel. I wish them many more years of continued success."
Vic Kazangian
Legacy Builders Development Group
--------------------------------------------------------------------------------
April 17, 2005
I am a 1st time home buyer and have been trying to buy a home for about 4yrs. All previous realtors really made me think that this was going to be mission impossible. Yet you constantly hear from everywhere that the American dream is very much within reach. Harma made that a reality for me. From the very instant when we met he assured me that my search to become a home owner would be ending. He listened to each and every one of my wants and needs and began the search for my perfect home. He welcomed my family to be apart of the search making sure that the household was taken into consideration. He informed us about the surrounding areas and schools. Where others had failed Harma proved he was actually listening to our needs. He made the home buying experience a very pleasant search. He constantly informed me of everything that I needed to know about and what would be the next step. After all was said and done and I was in the home, Harma still kept in touch with me. Assuring me that he would go above and beyond to make sure I and my family was happy and satisfied. I highly recommend Harma and will definitely go through Harma in the future.
Monica Lopez
SBC
--------------------------------------------------------------------------------
April 10, 2005
" I just want to thank you for your hard work, great service and patience. I wish you the best in your work. keep up the good work. I will recommend you to all of my friends, I am very satisfied with your work and service."
Massis Keshish
--------------------------------------------------------------------------------
March 21, 2005
Harma was a great pleasure to work with. He was always friendly and kept the lines of communication open as well as addressed of all my concerns. I would work with him again.
Shannon Fong
Warner Brother
--------------------------------------------------------------------------------
June 4, 2004
"Dear Harma,
Thank you so much for your consideration and attention in representing us as our selling agent. Your professionalism and negotiation skills were wonderful as we completed this transaction, and we really appreciate your ability to negotiate lower escrow and contractor fees that fit more with what we had hoped for. You really managed this job from start to finish, and we wholeheartedly recommend your services!"
Sincerely,
Sonia and Michael Ivani
--------------------------------------------------------------------------------
August 16, 2004
"Harma,
Working with you in the purchase of my condominium has been a truly refreshing experience! I have worked with several real estate professionals in the past, and my experience with you has completely altered my perception of your profession. Your integrity and honesty really helped me completely trust you as we reviewed and chose the property I eventually purchased. The escrow closed in a timely manner, and your continual follow-up, research, problem-solving skills and attention to detail through out this transaction really helped me feel completely comfortable as I made such an important and life-changing decision!
I have already recommended you to several friends and colleagues, and will continue to do so. To come upon an agent you feel so comfortable with, and can rely on, does not happen every day!"
Gratefully yours,
Camille Bornstein
--------------------------------------------------------------------------------
Sep. 17, 2003
"Harma,
I want to express my gratitude to you for your role in closing the sale of my house. You clearly showed knowledge and experience in advertising and marketing the property, and getting a high rate of response from buyers.
I was very pleased with my experience, and for the services you provided as soon as I listed the property with you.
This was the first of a few properties I hope to sell, and you will certainly be the person I will be calling as soon as I am ready to sell in the future."
Best wishes,
Ricardo Morlote
Barrington & Shaw, LLP
www.HarmasListings.com
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
