MHDC had a program where the purchaser of a foreclosed property could get a credit of 20% of the sale price, up to $14,999
The NSP funds have been fully reserved as of Sept. 1, 2009. They will be accepting reservations on the waiting list to handle some fall out of the current reservations.
The first time home buyer federal tax credit of up to $8000 is set to expire on December 1, 2009
Don't wait until it is to late to claim that credit! You'll need to find your home quickly, so it will close on November 31, 2009 or sooner. It could take 30 to 60 days for your loan to go through, so the time to find a home is now!
You can still borrow your down payment through MHDC and repay the loan when you receive your refund check. If you have questions, don't hesitate to call!
This large home is nestled among century old shade trees in a small neighborhood of custom homes on large lots. The 4 seasons room overlooks over a third acre of manicured grounds with perennial plantings, you'll love this wonderful room. The gardens have meandering rock paths and numerous planting everywhere you go. It's a peaceful setting where you'll relax and enjoy the scenery.
The great room has a spectacular fireplace accented by a decorative copper wall - truly a one of a kind. The 2nd fireplace is located in the HUGE 30x30 family room. Designed for entertaining this spacious home boasts over 2600 sq. feet of living space. You'll be proud to welcome your guests into the foyer that has stained glass and a window with a view of the gardens. The dining room has a enough space for your largest holiday dinners. In the kitchen you'll find walnut stained, raised panel cabinets, a garden window and space for a table.
Other features are some newer carpet and vinyl floors, white 6 panel doors, 2 wood decks, finished walk out lower level, thermo tilt in windows, wet bar with built in wine racks, storage shed, attic fan, newer roof, formal dining room, 3 full bathrooms, 3 bedrooms, gutter guards, oversized garage with built-in storage, vaulted ceilings, walk-in closet, water softener and more!
The subdivision is located in the prime 364 corridor and close to Interstate 70 for easy commuting. The elementary and middle schools are very close by and well as restaurants and shopping. Welcome Home.
Call Michelle Rottach with REMAX Stars to see this outstanding home at 636 219-5139
For more information and photographs go to LetsGetItSold.com
Directions: Highway 94 to Jungs Station road to right on Imperial, left on Grand Prix to right on La Baron.
Forget your diet! Now you have a REASON why you SHOULD eat a DQ Blizzard.
On August 13th, Dairy Queen will donate a dollar or more for each blizzard that they sell. The donation will go to the Children's Miracle Network.
Last year DQ raised 4.5 million! Let's help them raise even more this year!
Buyers Beware of Bank Owned Properties and Foreclosures
Purchasing a bank owned property is NOT for the faint of heart!
Bank owned transactions don't always go smoothly. The bank dictates the proceedings and they work on their own schedule. In today's market, they are very busy.
The real estate agents cannot control the response time to an offer, signing of amendments etc. When dealing with foreclosures, know that they may take longer to get to the closing table.
Some of these bank owned properties are listed below their current value. If you think it is a great deal - so do a lot of other buyers that are looking at the properties. The properties that are undervalued are receiving MULTIPLE offers - expect it. Some of the sellers are waiting 7 to 10 days BEFORE they will review the offers that they receive. AGAIN - The real estate agents have NO control over when the seller responds. If there are multiple offers, most of the sellers will contact ALL of the buyers and ask for their "highest and best offer" And YES, they do actually have multiple offers and are not just playing a negotiation game with you. Once they have all of the buyer's "highest and best" they will then choose the contract with the best price and terms. The sellers will not issue a written rejection or counter offer to the buyer. You will receive the paperwork, once all verbal negotiation has taken place and your offer is accepted. There will be bank addendums that follow the acceptance of your contract. You can not make any changes to these addendums - the bank will not accept that.
The bank is going to look at ALL the terms of the contract, NOT just price. If you are getting a FHA loan with 96.5% financing, your offer is not going to look as good as the buyer offering cash. If you are asking for $4000 in seller paid closing costs, that is the same as asking the seller to come down in price $4000. The sellers will reserve the right to accept any offer of their choice, regardless of the order in which they were received.
Some of the bank owned properties ARE selling for over list price. Determine what comparable properties are selling for and what the repairs are going to cost and make your offer based on this information.
The bank owned properties are selling "as is" with no repairs, warranties or inspections provided by the seller. You will be responsible to pay for and order all municipal inspections and occupancy permits. They will not provide any inspections which may be required by your lender. The seller will not make any further repairs or improvements.
Some of the bank owned properties have a lot of repairs that will need to be made after closing. It is wise to know what these repairs are going to cost, so you can determine what the actual "cost" of acquiring the property will be.
You can make your offer contingent on having any inspections you deem necessary, within a certain time frame, after acceptance of your contract. You can reserve the right to terminate the contract within that time period, if you discover issues that are not acceptable to you. The seller will not make further repairs or improvements, you are buying the property AS IS. The beginning of buyer's inspection period varies depending on the bank. These time frames will be determined by the contract or the bank's addendums.
No tax, zoning, compliance information, utility services, septic or water or code enforcement will be given to the buyer from the seller. Buyer should verify this information independently. There will be no seller's disclosure.
There is a penalty for closing delays not caused by the seller. This varies from $25/day to $200 per day or more and will be part of the seller's addendums.
You must have a pre-approval letter if you are getting a loan. If your offer is a cash offer, you must supply proof of adequate funds to close on this property. NO EXCEPTIONS. Some of the sellers are going to require that you get a pre-approval from their preferred lender as well. A large percentage of the bank owned properties are not going to accept FHA financing because of the possibility that the FHA appraiser will predicate repairs that need to be made in order to proceed with the loan.
The required earnest money on bank owned properties will mostly likely be a minimum of $1000 or a percentage of the sale price. Most of the sellers will require that the earnest money be delivered and held by their title company within one or two days of acceptance. Closing at the Seller's title company typically, will cover the buyer's title insurance. This is not true with Fannie Mae properties.
IT IS IMPORTANT TO READ AND UNDERSTAND THE SELLER'S ADDENDUMS. These addendums change the terms of your offer.
There are some great values in the bank owned properties but you need to be patient, when going through the process of making the offer and closing on the property. It is not for everyone. It can be a stressful and frustrating process - only you can determine if it is worth the trouble.
Are you frustrated looking through the newspaper and 101 websites for Open Houses In St Charles county Missouri?
Here's a list of houses and condos in St Charles county that is updated each week on Friday. This list includes all homes and condos that are advertised in MLS.
Open Houses from $200,000 to $300,000
The open houses are for the cities of OFallon, St Peters, St Charles, Dardenne Prairie, Cottleville, Wentzville, New Melle, Defiance, Foristell and other towns.
You can sign up to be notified each Friday for homes that are being held open at LetsGetItSold.com
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I specialize in listing and selling homes priced $150,000 to $300,000 in St. Charles County. 18 years experience as a full time agent. I strive to make buying and selling - Stress free and fun!
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.
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