Closing in on a Foreclosure

Posted by webmaster on Jan 27, 2012 in Foreclosure | 0 comments

Buying a foreclosure is much easier than you might think. Most people have the notion that dealing with banks will be a hassle, and bank officers are only looking to say "no" when ever they can. Not so. Banks are in the business of lending money for a return. Owning property is not part of their business plan. So don't be intimidated by dealing with banks.

Here are some things you need to consider as you pursue the purchase of a foreclosure.

First, foreclosed properties will be bought "as is". That is, what you see is what you get. The bank has not done any upkeep or fixed any parts of the property as, again, that's not the business they are in. So make sure you hire a reputable property inspector. And here's a hint: when you have found an inspector who will work for you, tell the bank you are willing to shorten the inspection period you require. Sometimes they will jump on this idea as they are just wanting to get rid of the property as quickly as possible.

Second, know the neighborhood. Even in these times, the standard real estate axiom applies: buy the worst property in the best neighborhood. Unless, of course, you plan on living on the property. But even then, you want to protect your investment by buying in a good neighborhood.

The bank will generally use two tactics when accepting offers. First, they will take offers up to an appointed time then toss out all but the top two. They will then ask you for your best offer and/or your final offer. The bank wants to get as much money from you as possible, like any seller. Second, they might accept the first decent offer they get.

Finally, there are real estate professionals in your town that have represented and sold foreclosed properties. Your agent should be able to get for you some critical information that you will need. Such as: comparable sales, pending sales, and the number of offers on the property. Of course, the number of offers on a property will impact the offer you come in with. And your real estate professional will submit your pre-approval letter to the bank so that they know your offer is legitimate. But, again, when finding a professional that you need to trust, ask around.

If you happen to live in the California's bay area there are many areas that offer great deals on foreclosed homes. Two of the areas I would recommend are Hollister Ca homes for sale and San Jose Ca homes for sale.

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For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

Does a Short Sale Affect the Value of Property?

Posted by webmaster on Jan 26, 2012 in Short Sale Arizona - Phoenix - Queen Creek | 0 comments

The economy is not at its good and the property owners are finding it very difficult to cope up with the monthly payments. When a mortgage refinance can be overlooked by the borrower, it means, it can lead to a short sale. This term indicates:

Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.

Are You Worried About Tax Ramifications In Doing A Short Sale?

Posted by webmaster on Jan 25, 2012 in Uncategorized | 0 comments

Hello, I'm Kevin Kauffman. I am part of Group 46:10, one of the nation's best short sale and real estate teams located right here in Phoenix. Are you struggling to make your mortgage payments or are tired of being underwater on your mortgage? We at Group 46:10 can offer you various alternatives to alleviate some of these problems. As one of the premiere short sale teams in the nation, we've completed over 500 short sales in the prior 4 years and have a completion rate of over 90%.

I'm here today to talk to you a little bit about short sales and tax ramifications. One of the concerns that we hear quite frequently from prospective customers is that they would like to do a short sale, but are concerned about the taxes they'll have to pay after the sale. Perhaps you've heard from others that have done short sales that there were some tax liabilities and wish to find out more.

The Mortgage Debt Relief Forgiveness Act, which expires at the end of this year, allows homeowners, such as yourself, to not pay taxes on the forgiven amount if the home is their main residence and the selling price is less than $2.5million. If you are thinking about short selling your home, you need to act quickly because the transaction would need to be finalized by the end of 2012 in order to qualify for The Mortgage Debt Relief Forgiveness Act.

Please give us a call or fill out the form on our website, group4610shortsale.com, to find out more about this act or if you have questions about your particular situation. If you don't qualify for this act, don't let that keep you from short selling your house. We have a couple of other ways to avoid paying taxes as well. A practiced short sale expert, such as myself and my business partner Fred, can discuss those different options with you.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

What Are Your Short Sale Options?

Posted by webmaster on Jan 24, 2012 in Uncategorized | 0 comments

Hello, are you contemplating a short sale but you are not quite sure of what your choices are? Well, my name is Kevin Kauffman and I am a part of Group 46:10, Phoenix's premiere short sale crew and Phoenix's premiere short sale team. I am right here to inform you that you simply do have options and I would love to talk to you about them. My workforce and I've closed over 500 short sales within the last 4 years. We're right here that will help you so if you happen to need any assistance, whether you've gotten an FHA loan or maybe you've obtained a VA mortgage, we are able to help. Perhaps you are not sure as a result of there are completely different guidelines around FHA and VA loans in comparison with loans with your typical credit union or with Bank of America or Wells Fargo.

Come to the experts and get a free consultation with us. We would love to speak to you about what your options are. We have worked with each financial institution out there. We have worked with over one hundred banks. We have handled Fannie Mae and Freddie Mac, and FHA and VA, and anybody and everybody in between and we know that we can assist you.

So please give us a call today. You'll be able to reach us at 480-449-6642. You may also fill out a form right here on our website. Should you’re not on our web site, you may go to us at Group4610shortsale.com. Here you may get your free short sale decision calculator outcomes in addition to request an in individual meeting. We would love to speak to you about your choices and if a short sale is right for you, we'd love to assist you. Thanks so much and have an amazing day.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.