Surprise Real Estate By Mike Horton

This blog contains information obtained from more than 2 years of working with short sale homes and bank owned or REO homes. Working with short sales has become a more complicated process as the lenders have become specific in their own requirements to approve the transaction. Find out more to insure your home or your agent is looking at the process and complications of selling or buying one of these homes

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• Why not write an offer at 50% below list price for a short sale home?

  OK, you have been looking at homes that are in pre-foreclosure for sale (short sale) and you found one you like. It is in good condition and not a major fix up. Your next step is to write an offer and for arguments sake lets say it is listed for $150,000. Read More... Posted Thursday, November 12, 2009 11:43 PM by Mike Horton | 0 Comments Filed under: distressed properties, sellers, short sale, buyers

• Can your lien holder get a judgement after a short sale?

  Anti deficiency ARS 33-814 provides protection to the borrowers in some cases against a deficiency judgement when their property has gone through a foreclosure. In many cases, it appears the lenders are recognizing the limitations this statute puts on Read More... Posted Friday, September 11, 2009 8:58 PM by Mike Horton | 0 Comments Filed under: distressed properties, sellers, lien, short sale, foreclosure, deficiency, buyers