Buying a Foreclosure and How Banks Kill Deals

Buying a foreclosure can be a very frustrating experience. Today I tell a true story about how a bank killed a sale on a full price offer. The banks that sell their foreclosed homes don’t have the real estate expertise to negotiate and draft sales contracts, and the 3rd party companies they hire do not

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Foreclosure Ripoffs

Foreclosure ripoffs are out there, so be careful. They come in two forms. The first are the foreclosure ripoffs that try to sell a home that has been all but destroyed and is not worth what HUD wants for it. You could end up paying way too much for it and end up suffering a

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HUD Closing Requirements

HUD closing requirements are a nightmare scenario for buyers. If you think buying real estate from a normal human being can be challenging, wait until you try to buy a home from HUD through their online bidding process. And if you think you’ve seen voluminous paperwork requirements, you haven’t seen anything until you bid on a

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Lawsuits Against Auction.com

Lawsuits against auction.com are coming, and there will be class action lawsuits and individual lawsuits, and it is going to be one big legal mess. If you think auction.com is a pure auction site for real estate and foreclosures and short sales, think again. What many of us believe is fraud is now common practice at

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Dangers of Buying a Fannie Mae Foreclosure Through Homepath

Have you spotted a Fannie Mae foreclosure in the MLS that looks like it could be “the one”? Buying a foreclosure from Fannie Mae through their Homepath website is a Buyer Beware nightmare. But if you’re a regular reader of this real estate blog, you know that I take the experience of thousands of other

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Sequim Foreclosures and Homes Underwater

What about Sequim foreclosures? Are there some opportunities for buyers with Sequim foreclosures? Today Zillow reported that 18.8% (almost one in five) homes in the U.S. are underwater, meaning they owe more than their homes are worth. That is almost 10 million homes that are underwater.  Sequim Foreclosures Not Common in Sequim On a national

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Can I Find a Foreclosure That is a Good Deal?

Is it hard to find a foreclosure that is a good deal in Sequim or Port Angeles? The short answer is yes, but there’s much more to the answer that you should know. There’s nothing wrong with buying a foreclosure, if it’s a fantastic price in a great area with a floor plan you love.

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New Rules on Deed in Lieu of Foreclosure

New rules are coming for the deed in lieu of foreclosure on March 1, 2013.  If a loan modification or short sale is not feasible, there will be a practical alternative to foreclosure, regardless of whether you are current on the mortgage payments.  The previous ridiculous rule was that you had to be in default

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How to Find Sequim Foreclosures and Port Angeles Foreclosures

It makes sense to look at Sequim foreclosures and Port Angeles foreclosures if you are retiring and looking for the best value in your retirement home.  But I don’t want you to waste time on sites that purport to list foreclosures when they do not. There are many, and in Clallam County that includes inaccurate

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Another Sequim Foreclosure Disaster

Looking at a Sequim foreclosure?  Thinking about making an offer on a Sequim foreclosure?  Think again, unless you have months to fool around and are prepared for a lot of nonsense from the bank and their asset manager.  In some markets, like Las Vegas and Phoenix, the foreclosure market is much more organized, and asset

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Foreclosure Help

Foreclosure help is available, although in the Sequim area we have very few foreclosures compared to everywhere else around the country.  A lawsuit by Washington State Attorney General Rob McKenna clearly lays out the arguments for consumers, and if you’d like to see what those arguments are in the actual complaint, go to Foreclosure Help. 

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Sequim Real Estate Broker a Registered HUD Homes Buyer’s Representative

HUD homes are foreclosures that are now owned by HUD (Housing and Urban Development) and listed for sale by HUD.  Chuck Marunde, Managing Broker of Adamas Realty in Sequim is now Registered with HUD to represent buyers of HUD homes. This gives buyers the ability to make offers online through a Registered HUD Homes broker.

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Sequim Investors Cannot Find Homes to Buy

Sequim investors cannot find great deals on homes in Sequim.  They are literally unable to find good investment properties to buy with cash.  You would think that in this recession that there would be many homes at incredible bargain prices, and that Sequim investors would be swooping in to snap them up, but such deals

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Are Sellers Out of Touch With the Sequim Real Estate Market?

The Sequim real estate market is a tough real estate market, but I have been observing a consistent pattern for three decades now. I periodically get questions from homeowners who want to sell their homes, or from FSBOs (For-Sale-By-Owners) who are trying to sell their own homes.  I have learned so much about the mindset

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Clallam County Foreclosures

Clallam County Foreclosures are small in number, among the lowest foreclosure rates in the United States.  RealtyTrac just came out with an interactive map to view the number of foreclosures in every state and every county.  Click on this map below, and when you have the map loaded on your browser, zoom in on Washington

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Why You Won’t Find Your Home in Sequim Foreclosures

Sequim foreclosures make up a very small part of the market.  We all hear about the massive number of foreclosures in Las Vegas and Phoenix and several other cities around the county, and people talk about stealing houses for incredibly low prices, but that market does not exist in Sequim.  That’s actually good for local

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How to Buy a Foreclosure

How to Buy a Foreclosure is a subject I’ve written about many times on this real estate blog, but today I want to focus in on a very important part of the process that very few people know about, including Realtors.  Banks that foreclose on homes hire outside companies to list and market their foreclosed

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Foreclosure Sales in Sequim and Port Angeles

Foreclosure sales in Sequim and Port Angeles for the calendar year tell an interesting story, especially if you are retiring and planning to buy in Sequim or Port Angeles.  Clients from out of state periodically ask me if there is a good deal to be had in the foreclosure market.  We all hear stories about

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How to Find Sequim Foreclosures

How can you find Sequim foreclosures?  The Clallam County foreclosure market, including Sequim and Port Angeles is chaotic at best, but I’ve created several resources for you and they are all free.  Having practiced as a real estate attorney for 20 years and having done many foreclosures myself as well as represented many clients in

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Are Sequim Foreclosures a Bargain?

People ask me if there are some great deals in Sequim foreclosures or Port Angeles foreclosures.  The real estate market in the Sequim area is different than many other areas of the country, and that is true with foreclosures, too.  The foreclosure market here has been chaotic at best, and a disaster at worst.  I

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