Comments on: Where is the disconnect when buying a bank owned home? http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/ Real estate sales and community information covering New Hampshire Tue, 22 May 2012 13:07:48 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Pitfalls of buying a ban owned home | New Hampshire Real Estate Blog http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-23005 Pitfalls of buying a ban owned home | New Hampshire Real Estate Blog Mon, 05 Oct 2009 17:03:24 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-23005 [...] that sometimes it’s simply not to be found. But a good buyer agent will make every effort to help their client make the right [...] [...] that sometimes it’s simply not to be found. But a good buyer agent will make every effort to help their client make the right [...]

]]> By: Pitfalls of Buying a New Hampshire Bank Owned Property http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2901 Pitfalls of Buying a New Hampshire Bank Owned Property Mon, 31 Mar 2008 18:57:03 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2901 [...] that sometimes it’s simply not to be found. But a good buyer agent will make every effort to help their client make the right [...] [...] that sometimes it’s simply not to be found. But a good buyer agent will make every effort to help their client make the right [...]

]]> By: moni http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2880 moni Fri, 28 Mar 2008 13:46:25 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2880 Cyndee, We had one where the Certificate had not been recorded after the foreclosure. Which created a delay but we did finally close. I hope you can get that condo closed. What a mess! Cyndee,
We had one where the Certificate had not been recorded after the foreclosure. Which created a delay but we did finally close. I hope you can get that condo closed. What a mess!

]]> By: High Brow, Low Brow - Ocean Beach | Redfin San Diego Sweet Digs http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2879 High Brow, Low Brow - Ocean Beach | Redfin San Diego Sweet Digs Fri, 28 Mar 2008 13:06:36 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2879 [...] and lowest priced homes on the market.  It says a lot and gives a pretty good picture of the range and value of properties in a region.  Most people shopping a particular neighborhood are most interested in [...] [...] and lowest priced homes on the market.  It says a lot and gives a pretty good picture of the range and value of properties in a region.  Most people shopping a particular neighborhood are most interested in [...]

]]> By: Cyndee Haydon http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2878 Cyndee Haydon Fri, 28 Mar 2008 05:21:52 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2878 Monica - We had a disappointment today with a buyer who flew in to close on a bank owned condo only to learn the bank did NOT have the Certificate of Title and so they could not close - indefinitely since there's now a court hearing scheduled by someone contesting it - our buyer has spent 1000s in the process and is so frustrated. Lesson learned - Not certificate of title - buyer beware :) Monica – We had a disappointment today with a buyer who flew in to close on a bank owned condo only to learn the bank did NOT have the Certificate of Title and so they could not close – indefinitely since there’s now a court hearing scheduled by someone contesting it – our buyer has spent 1000s in the process and is so frustrated.

Lesson learned – Not certificate of title – buyer beware :)

]]> By: Monika McGillicuddy http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2860 Monika McGillicuddy Tue, 25 Mar 2008 23:01:32 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2860 Carole, I just wish they would do their jobs and communicate with me just a little bit better. It's frustrating here as there are many agents who simply have too much inventory and not enough support from their office. Thanks for commenting Carole. Carole,
I just wish they would do their jobs and communicate with me just a little bit better. It’s frustrating here as there are many agents who simply have too much inventory and not enough support from their office. Thanks for commenting Carole.

]]> By: Monika McGillicuddy http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2859 Monika McGillicuddy Tue, 25 Mar 2008 22:58:38 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2859 Hi Richard, Thanks for stopping by. It is an great opportunity for agents and buyers alike. I know a lot about buying bank owned properties and I know that my knowledge will be beneficial to my buyer clients. There are a few agents who have the listing sides tied up and many of them are not all that good. Which is a great opportunity for me. Hard work...yes it is! But I'm up for the challenge...maybe I'll be one of those that arm themselves with effective strategies to deal with the banks and their loss mitigation departments. I know my buyer clients will and do benefit from my experience. Thanks Richard for your comments. Hi Richard,
Thanks for stopping by. It is an great opportunity for agents and buyers alike.
I know a lot about buying bank owned properties and I know that my knowledge will be beneficial to my buyer clients. There are a few agents who have the listing sides tied up and many of them are not all that good. Which is a great opportunity for me. Hard work…yes it is! But I’m up for the challenge…maybe I’ll be one of those that arm themselves with effective strategies to deal with the banks and their loss mitigation departments. I know my buyer clients will and do benefit from my experience.
Thanks Richard for your comments.

]]> By: Carole Cohen http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2844 Carole Cohen Mon, 24 Mar 2008 15:15:53 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2844 I've been lucky, the bank owned listing agents I've dealt with over last two months have been excellent. Back in the day there were only one or two identifiable agents/teams who you knew would never call you if you needed questions answered. Now of course there are more of us handling these listings. I don't expect them to be able to speed up the banks process which can be frustrating in and of itself, but it sure helps when they communicate what is or is not going on. I’ve been lucky, the bank owned listing agents I’ve dealt with over last two months have been excellent. Back in the day there were only one or two identifiable agents/teams who you knew would never call you if you needed questions answered. Now of course there are more of us handling these listings. I don’t expect them to be able to speed up the banks process which can be frustrating in and of itself, but it sure helps when they communicate what is or is not going on.

]]> By: Richard Dale-Mesaros http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/comment-page-1/#comment-2831 Richard Dale-Mesaros Mon, 24 Mar 2008 03:28:39 +0000 http://monikamcgillicuddy.com/wordpress/general-r/where-is-the-disconnect-when-buying-a-bank-owned-home/#comment-2831 Hi Monika, You're absolutely right about REO's being frustrating for Realtors, but I see this as a great opportunity for those agents who want to set themselves apart from the rest of the crowd. Whether it's short sales before the auction or REO's once the hammer has fallen, if agents can arm themselves with effective strategies to deal with the banks and their loss mitigation departments, it will be worth the effort to develop a reputation as someone who can handle these more challenging scenarios. Real estate agents are faced with dwindling business currently, so it's time to get busy and figure out where the commissions are; besides short sales and REO's, there's also commrecial property or recreational land, both of which fluctuate differently than the residential market. Here's to finding fertile ground! Richard :) Chief Deal Weaver www.BlackWidowNetwork.com Hi Monika,

You’re absolutely right about REO’s being frustrating for Realtors, but I see this as a great opportunity for those agents who want to set themselves apart from the rest of the crowd.

Whether it’s short sales before the auction or REO’s once the hammer has fallen, if agents can arm themselves with effective strategies to deal with the banks and their loss mitigation departments, it will be worth the effort to develop a reputation as someone who can handle these more challenging scenarios.

Real estate agents are faced with dwindling business currently, so it’s time to get busy and figure out where the commissions are; besides short sales and REO’s, there’s also commrecial property or recreational land, both of which fluctuate differently than the residential market.

Here’s to finding fertile ground!

Richard :)

Chief Deal Weaver
http://www.BlackWidowNetwork.com

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