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| Description and Features | |
| Top producing agent team needs a sharp & dedicated assistant to handle all our listings and sales from the back office standpoint. You will handle all our back office procedures with the assistance of the buyer/seller agents assigned to client as well as new clients that have appointments in our office. Hard work and self motivation required. Excuse makers need not apply. | |
| Location | |
| Click to view map: 1419 Cornwall Avenue Bellingham WA 98225 | |
| Links | |
This one can be tough for the buyer. Unlike most resale purchases, the bank expects you to honor your agreement and close on or before the day agreed upon. I can tell you from experience there are many, many hiccups that can happen along the way but the bank doesn’t care, they want it closed per the agreement. So if your lender is slow to react and respond and doesn’t get the documents to closing on time for instance, there is usually a per diem charge in the contract that the bank will expect you to pay from the agreed upon date through the actual closing date, and this usually is non- negotiable unless it’s the banks own fault.
We recommend only lenders who are well versed in working with these kind of deadlines as well as lenders and repair companies who can accomplish what is needed in a timely fashion.
Chris Farkas is a Realtor with EXIT Realty Associates in beautiful Bellingham, WA
www.RealBellingham.com
www.SoundShortSale.com
www.WhatcomBankOwned.com
www.BellinghamMarketValue.com
It's commonly assumed that bank owned homes are a real steal and one should run out blindly and buy it, but that’s not always the case and mostly is not. Banks are much more motivated than most sellers for sure as they have thousands of home “in stock” and want to get them off their books as soon as possible, but they also know they don’t need to make their losses any worse than they already are. When considering buying a bank owned home, you need to be as prudent as you would be in any big purchase and check your comparables to make sure you are getting at least a good buy, which you usually are.
Chris Farkas
EXIT Realty Associates
www.RealBellingham.com
www.SoundShortSale.com
www.CHristineFarkas.com
A bank owned home is just that – a home, owned by the bank taken back as what the bank calls “real estate owned” – or REO as the term is commonly known. This was usually done in the form of a foreclosure or the sellers gave the house back to the bank with a deed in lieu of foreclosure. The bank owns the house outright and has put it on the market to sell.
A Short Sale is where the seller owes more money on the house than its worth and has contacted the bank to sell it for “short” of what’s owed. Typically these can take many months to even get an acceptance and even longer to close.
Chris Farkas
EXIT Realty Associates
www.YourWhatcomAgent.com
www.YourSkagitAgent.com
www.RealBellingham.com
www.SoundShortSale.com
Let’s say that you are driving your car down a stretch of road and you see a beautiful home. Lo and behold, it would appear that this gorgeous home has a for sale sign on its property. It would seem that the gods have smiled upon you as purchasing the home is all you can think of. There is the problem: all you are thinking of is purchasing a home based on its personal appeal to you. Now, it goes without saying that one should purchase a home that is appealing, but there are also practical and pragmatic issues that need to be taken into consideration before making such a purchase. This should include performing a solid and reliable method of qualifying the home first.
On the surface, some may assume that qualifying the home is a complicated procedure. While it is definitely not a cursory venture, it is also not one that is overly complicated either. Basically, what qualifying the property entails is ascertaining the various financial aspects associated with it. For example, what is the market value of the home and what have similar homes in the same area been selling for? If this is a home that is in foreclosure, how much of the remaining mortgage balance does the property owner owe? What is the condition of the home? Is repair work required and what would the costs be? As you can see, answering these questions add additional spheres to an individual’s ability to make a decision as to whether or not the property is worth purchasing.
Chris Farkas is a Realtor with EXIT Realty Associates
www.YourWhatcomAgent.com
www.RealBellingham.com
www.WhatcomShortSale.com
www.RainCityHomeSearch.com
www.SellFastWashington.com
www.SellFastSeattle.com
www.FreeBellinghamHomeSearch.com
www.FreeLyndenHomeSearch.com
www.FreeBlaineHomeSearch.com
www.FreeBirchBayHomeSearch.com
www.ColumbiaNeighborhoodHomes.com
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