So you’ve decided to buy a house – where do you get information on all of the real estate that’s for sale? should you get a Property Manager?
If you’ve been around Blacksburg for any length of time, you’ve almost certainly noticed the old National Bank of Blacksburg building – on the corner of N. Main and Roanoke Street – standing proudly but looking rather weathered and beaten up. The building was an earlier home to the National Bank of Blacksburg, and in recent years had been passed around from owner to owner while sitting vacant and, quite honestly, falling apart.
It seems like we get a lot of questions lately from home buyers, or folks just calling in asking about a particular listing, but the one question I bet gets asked more than half the time is “is this house a foreclosure?”
I read a question, posted online, recently, where a buyer said that they were looking at making a cash offer on a bank-owned foreclosure. Specifically, they were wondering whether a bank would take a cash offer for less than the listed price. For the purposes of this post, let’s assume that they mean “will the bank take far less than the asking price if I’m paying in cash?“
Last week I talked about having a short sale right down the street from an upcoming listing. It’s not the greatest deal in the world, to have a house just steps away that’s being sold for less than what is owed on it, but it is what it is. My sellers are realistic, they’ve got a house that’ll be priced right and will show great, and we’ll continue on.
Next week, I’ll be listing a house in Christiansburg. That’s the good news. The bad news is that just a few doors down, there’s a short sale.
Well, 10 questions, actually.
I was asked recently about short sales, and while I could give the quick and dirty explanation, that was about the extent of my expertise. The quick and dirty?