Q-What do I do to get started on buying a home?
A-Working with an experienced buyer’s agent, that has knowledge of today’s market is an important first step. It is better to work with one Realtor when searching and buying a home. All real estate agents place thier properties in the MLS Multible listings system and one Realtor will have acess to all the potentional properties you are looking for, listing agents who work for the seller cooperate with buyers agents..There are many ins and outs to today’s real estate environment, so you want to establish a relationship with… and pick just one Realtor. That Realtor has to be honest and straightforward with you and help you- not only find the right home, but also help you figure out what to offer on that home. In addition, your Realtor will aid you in navigating through the whole home buying process, such as finding the best loan program to suit your financial needs and assist you in finding a good home inspector and assist in what to look for on a final walk-through, all this expertise results in having a successful close of escrow.
Q-Can I see the inside?
A- Call me, as your County Properties buyer’s agent I will represent you and make an appointment to see the inside. You can drive bye, please do not disturb the occupants.
Q-How do I buy a government property on List #1?
A- 1. $100 Down Payment – available to owner occupant purchaser(s) using FHA financing to purchase their HUD home. These homes have a deadline when bids are due, call ASAP if you see a home your interested in.
2. $1,000 sales allowance to be paid at closing to owner occupant purchaser(s) on properties purchased with a full price offer. (Type of financing used is not a consideration for this incentive.)
3. On the VA owned homes sell on a daily basis.
VA loan finacing for Veteran and Non Veteran are eligible, Down Payment 0% Down Payment -- if Owner Occupied, 5% Down Payment -- if Investment/Non owner occupied, 20% Down Payment - processing will be streamlined.
Call me, as your County Properties buyer’s agent I will represent you and make an appointment to see the inside.
Q-How do I purchase a property?
A-As your Real Estate agent I will verify with your lender that you are pre-qualified. After showing you the property, if you are interested in purchasing, we will do the paper work needed to make an offer. It will take approximately 30 minutes to do all the paperwork.
Q-How do I know what I can afford and what kind of financing is available?
A- We will arrange for a loan officer to contact you from a reputable bank. The loan officer will ask you a few basic questions on the phone and let you know what price range and payments you can qualify for. Getting started:
1. Know your price range & payments by being pre-approved with a reputable lender
2. Set up a search to start shopping for your home or investment, eg. VIP Search on menu.
3. Negotiate and close escrow
Each one of these steps will take sometime so we recommend that you first start with the lender and your pre-approval.
If you’re ready to start the process please read the following:
When you find a good deal in this market, properties are receiving multiple offers. Having a letter of pre-approval from your lender makes your offer stand out as a strong offer. Due to the current financial market, mortgage brokers are having difficulty approving loans because of the strict guidelines being put in place. We recommend using one of our preffered lenders. You can get your pre-approval started with a 15 minute phone application. Our company has implemented a hotline phone number that goes directly to the loann officers, who are available to take your information, go to Financing & Mortgage info on menue to the right..
Q-How much do I need to buy?
A- Typically, a deposit of $2,000.00 or more depending on the situation. Also, depending on what type of loan you are obtaining you will need 3% of the sales price for closing costs. Closing costs can sometimes be negotiable with the seller as a credit to you as the buyer. Down payment varies with each property, loan and buyer. All information needs to be reviewed with a lender prior to purchasing.
Q-Can I move in the property when my offer is accepted?
A-The day escrow closes you can to move in, unless otherwise negotiated. Our agent will notify you when escrow closes. Typically 30-45 days from the day escrow opens.
Q-What is escrow?
A-Escrow is a 3rd neutral party that coordinates collects and distributes paperwork and funds. Escrow opens after offer has been accepted. Escrow does not help with any negotiating or any advice. We as your agent will help you and manage all the facets during escrow.
Q-How long does it take for a property to be foreclosed on
and what is the process?
A-Late on payments causes:
Trustee’s sale (Deadline to pay off loan is anytime before Trustee’s sale begins). Trustee’s sale is a foreclosure sale: the forced sale of a property at public auction (usually the court house steps) to satisfy the debt incurred from the substantially delinquent payments.
|
Proceedings
Timeline |
Foreclosure Process
Description & Civil Codes |
|
Day 1 |
Notice of Default recorded with County Recorder
-2924 |
|
Within 10 business days |
Trustee mails Notice of Default to borrower(s)
with the recording date – 2924(b)(1) and 2924(e) |
|
Within 1 month |
Mail Notice of Default as per TSG instructions
-2924b(c)(1)(2) and 2924b(e) |
|
After 3 months |
Set sales date, time & location unless a
bankruptcy has been filed or other event occurs
that holds the timeline -2924 and 2924f(b) |
|
25 Days prior to sales date |
Send notice of sale to IRS ( if applicable) IRS
regulations |
|
20 Days prior to sales date |
Public Notice of Sales -2924f(b)
Post Notice of Sales -2924f (b) Mail notice of
sale -2924b(c)(3) Begin publishing Notice of
Sale in a adjudicated newspaper.
(must run 3 consecutive weeks ) 2924b(e) |
|
Within 10 days from first publication of Notice
of Sale |
Send beneficiary request for directions to the
property |
|
14 days prior to sales date |
Record the Notice of Sale with recorder’s office |
|
7 days prior to sales date |
Trustee cannot sell for 7 days after expiration
of court order |
|
5 Business days prior to sales date |
The borrower(s) right to reinstate expires |
|
Sale date |
The property is sold to high bidder or reverts
back to lender |
1. The buyers at the court auction are required to have cashiers check for the full amount of the sales price, usually without inspection of the property,as is, inside unseen, high risk, usually the price goes thru a bidding up process toward market value.
2. After the court auction, if there are no bids, due to the loan being higher than the market value of the home, thr majority of foreclosures go back to the bank, if it does not sell.
3. When it goes to the bank, it will take an average of 1-2 months before it gets listed with a real estate and than you will see it listed on our website at County Properties.
4. Contact me, as your Realtor (R) I will help you to find the home your looking for at a good price.
Q-How do I stop a foreclosure and what is a short Sale?
A-The follow is information on San Diego and Riverside Counties Short Sale and or stopping foreclosure.
ARE YOU BEHIND IN YOUR MORTGAGE PAYMENTS?
ARE YOU’RE MORTGAGE DEBTS MORE THEN YOUR HOME IS WORTH?
HAS FORECLOSURE BEEN THREATENED OR STARTED?
If you answered YES to any of these Questions, this Important Web Bulletin may
be the Answer for You!
We're NOT Lender's trying to make you another mortgage loan... We're NOT
Attorney's requiring a retainer fee. We're San Diego and Riverside County's
premier Short Sale Team, and there is a much better Solution available to you,
other then Foreclosure... it's called a Short Sale. A Short Sale can remove your
home mortgage debt problems, salvage your credit, and get the Mortgage
Collection Agents off your Back.
Please feel free to contact me today at my website, click County Properties Real
Estate.
Due to the poor local real estate market here in San Diego and Riverside
Counties, and the nationwide Mortgage loan crisis, many San Diego and Riverside
Counties homeowners find themselves unable keep up with their increased mortgage
payments, and many times the mortgage loan debt is more then the home is
worth... in other words - No Equity left in the property.
Property values have dropped throughout southern California, and many
alternative loan programs have been terminated. So, most mortgage bankers are
unable to neither modify the loan or reduce the loan payments, nor re-finance
the home. This has left many home owners trapped in a home with no equity, and
mortgage payments that they can no longer afford. Unfortunately, many homeowners
at this point give up, for they think there is nothing they can do to stop the
pending Foreclosure. Well, there IS something one can do that's far better then
a Foreclosure... a Short Sale.
Today in California, 50% of all Mortgage Loan Foreclosure solutions
with Banks are resolved through the Short Sale method.
Simply put, a Short Sale is a situation in which the total mortgage debt on ones
home is more then the net sales price of that home. The Mortgage Banker(s) have
to agree to write off a portion of their outstanding debt in order for the
property to be sold. This is not an easy process, for the Mortgage Banker(s)
treat their outstanding debt with upmost priority, and therefore they must be
convinced through tough negotiations and market data analysis that it is a
little bit better for them to reduce their outstanding loan balance on the
property, then it is for them to proceed all the way to the end of the
Foreclosure.
You may ask yourself”Why should I care, for I have no more equity left in my
house?”... Well, the fact is there are several important reasons why a Short
Sale is far better for you compared to Foreclosure... Here's why:
1.) SHORTER PERIOD OF DAMAGED CREDIT: A Foreclosure will stay on your credit
report for 7 years, but a bank Short Sale will typically only last about 3 to 4
years on your credit report. And, our Credit Repair Associates can often get the
Short Sale removed much sooner then that.
2.) BETTER FICO SCORE: A Foreclosure more negatively affects your FICO score
which is the all important credit rating number mortgage lenders use to
determine if they will loan money to you or not. Many mortgage experts believe
that a Foreclosure will drop your FICO score by 100 to 200 points more then a
Short Sale does. If you want to borrower money in the next 5 to 7 years for a
car, boat, or a home, then the Short Sale will make a big improvement.
3.) DIGNIFIED SOLUTION: In a Short Sale you decide to sell your home to another
potential home buyer - just like your neighbors have over the years. It is a
relatively pleasant and dignified resolution to a very tough situation. On the
other hand, after the Foreclosure sale, a Bank representative comes by the home
to lock up the doors and windows and change the locks, and if you are still
there, they contact the local Sheriff for eviction. Then the home sits vacant
for several months as the grass gets brown and the trash and the papers collect
in the yard. The agent for the bank usually slaps 'Bank Foreclosure' signs all
over the property while the house sits empty waiting for a sale. This happened
to my home 14 years ago and it was very embarrassing to me for my friends and
neighbors to witness.
4.) EASIER TO FIND NEW HOME: If you are like most people in this situation, you
will be looking for a home to rent after this issue is resolved. It is easier to
find a nicer home to rent if you conduct a Short Sale versus a Foreclosure. Most
property managers obtain a credit report. A Short Sale whereby you cooperated
with your bank to resolve the situation is much better then a Foreclosure on
your credit report. Often times, this will allow you to rent a home in a better
location with a lower rent payment.
The longer you wait, the harder it is for us to help.
The County Properties Sale Team of experts consists of a Bank Negotiator, a Real
Estate & Internet Marketing expert, a Listing and Sales expert. Our team
experience goes back to the mid 1990's when southern California experienced its
last major real estate down turn in the local real estate market. Best of All
our services are FREE to you, for we negotiate our fee with the Bank.
Please feel free to contact me today at my website, click County Properties Real
Estate.
We have helped numerous homeowners in San Diego and Riverside counties and we
can help you. Don't trust your home Short Sale with just any Realtor!! You may
only have one shot at this, and there is a lot riding on the successful
negotiations with your Bank and subsequent sale of your Home. We're an
experienced Short Sale team... We've been working in the real estate industry
with Short Sales, Foreclosure and Bank Owned properties since 1995. ... We've
negotiated with many Banks and Savings & Loans officers to reduce loan balances
or postpone foreclosures, or to re-structure loans on the behalf of the home
owner... In short, we've been involved in every facet of the Shot Sale and/or
Foreclosure process and we're here to help you with your situation.
Time is of the Essence. You MUST act fast to salvage your credit.
If Foreclosure proceedings have started on your home,
then you have only 3 months and 3 weeks before your home
is sold at the public Foreclosure Auction on the
courthouse steps. Now our team of experts can often get
the foreclosure to be delayed, only if you call us ASAP.
Please contact me today, or read more information below.
Stop My Foreclosure Today
BEHIND IN YOUR PAYMENTS?
NO EQUITY IN YOUR HOME?
ARE YOU IN FORECLOSURE?
We have programs to stop your Foreclosure
regardless of your current situation... Even if you have no more Equity in Your
Home!
With the right help, virtually any Foreclosure situation can be successfully
resolved... We've helped many San Diego and Riverside county homeowners with
their Foreclosure problems and we can help with your Foreclosure...
Time is of the Essence. You MUST act fast
to protect your rights.
Many people needing help with stopping foreclosure simply do nothing and hope
for a miracle. Don't let yourself fall into that trap! You have options. Don't
face foreclosure alone... We can assist you in several different ways to resolve
your situation, even if you have no equity in your home.
Today in California, 50% of all Mortgage Loan Foreclosure solutions with Banks
are done through the Short Sale method.
There are a number of strategies that we can use to resolve your Foreclosure
problem. No matter what your credit history may be, or how many late payments
and penalties you have, we can help. Almost any foreclosure situation can be
successfully resolved with the right consolation.
We can...
Negotiate to have you stay in the home until it is sold and closes escrow.
Negotiate to stop making payments due on your loan.
Negotiate to lower your loan balance to allow for a quick sale.
Negotiate to avoid a Foreclosure on your Credit.
Time is your enemy!
If your mortgage lender or bank has started foreclosure proceedings, thousands
of dollars in penalties and legal fees can be added to the balance you owe as
time passes. And every single day extra interest is added!
The longer you wait, the harder it is for us to help.
Our services begin with a simple three step process... First, we meet with you
and review your current situation, inform you of all the options available and
answer any questions you may have regarding the foreclosure process... at No
Cost or Obligation. Second, we begin to consult with you on your individual
situation. The Final step after your situation and options have been examined,
we can work with you to take the appropriate action to delay or stop the
foreclosure.
WE DO NOT BUY HOUSES LOOKING TO TAKE ADVANTAGE...
WE ARE NOT A LOAN COMPANY TRYING TO ADD TO YOUR DEBT...
WE ARE NOT ATTORNEYS...
We are a licensed real estate Brokerage and our team of professionals specialize
in stopping the foreclosure process. Some of the techniques we employ are
helping you to negotiate with your lender to restructure your loan, or get a
partial claim or possible forbearance. Sometimes we help clients negotiate with
the lender for a Deed-in-Lieu of Foreclosure. In some circumstances we can put
you in touch with new lenders who specialize in making loans to homeowners in
foreclosure. In other occasions, we list and sell homes in a pre-foreclosure
sale if the circumstances warrant. If your home has no equity and a Notice of
Default has been issued by your lender, then we can conduct a successful Short
Sale. The ultimate technique that we us to solve your foreclosure problem
depends upon your current situation and your desires and goals.
There is always a solution to foreclosure and we can explain your best
options!!!
We have helped numerous homeowners in San Diego and Riverside counties and we
can help you. Don't trust your home with just anybody!!! We are a licensed real
estate Brokerage County Foreclosures and Properties USA Inc.... We've been
working in the real estate industry with foreclosure and bank owned properties
since 1995. ... We've negotiated with many Banks and Savings & Loans officers to
reduce loan balances or postpone foreclosures, or to re-structure loans on the
behalf of the home owner... In short, we've been evolved in every facet of the
Foreclosure process and we're here to help you with yours. Please contact me
today.
County Properties Disclaimer:
Unauthorized use or copying of materials, by Real Estate agents or other parties with agents are liable for Prosecution to the full extent of the law. These homes represent great value and may result in multiple offers. Homes are sold "as is" & we strongly advise you to inspect the home thoroughly. Any additions may not conform to building. Information provided may contain errors or omissions, e.g., sq. footage, lot size, descriptions of Properties, etc. Sources for information are from public & county tax records. Buyers are to verify all information. VA, FHA, REO'S or County Foreclosures assume no liability. Government & Bank Properties are offered for sale to qualified purchasers without regard to the purchaser’s race, color, religion, or national origin. Interest rates and payments may vary. Talk to lender about this. Some Buyers or Properties may not qualify for Programs. HUD, VA, REO and any loan Programs subject to change. Please call to confirm. Dept. of Real Estate broker ID#00908453.
County Properties
Copyright 1999, COUNTY FORECLOSURES & Properties, USA Inc.
Dept. of Real Estate Broker ID#00908453
County Foreclosures & Properties, USA inc. DRE ID#01316909
Corp Office Location
3111 Camino Del Rio North Suite #400
San Diego, CA 92108
All Rights Reserved