"Ask the Broker"

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wsstevenson

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Do you have a real estate question you've just been dying to have answered. Now is your chance. Email your real estate related questions to info@idealrealestateprofessionals.com and we'll answer your question in this week's Patch.com column. Submissions are appreciated by Noon Wednesday 3/7.
 
I want to throw this back out there for those that might have missed it. I'd like to have the questions in by Noon tomorrow. Ask away.
 
Got it and answered, thanks.

Now the rest of you send me your questions. I have a column to populate with information. LOL
 
How about something going over the best way for home-buyers to protect themselves and their new investment in this day of foreclosure ... there's been more than one horror story reported of a new home buyer getting the ugly surprise of having the home foreclosed after they purchased it. Of course it generally gets cleared up but what a nightmare in the meantime!
 
Can you provide a link to one of these stories. I've not heard about anything like that.
 
This is making me crazy now ... I know there was a story in the ATL metro in the last week or so of a woman that bought a home only to have the old lender wrongly foreclose on the property and change the locks before she could even move in. They were apparently in the process of clearing it all up at the time her story aired. I can't find it now.
 
unionmom said:
This is making me crazy now ... I know there was a story in the ATL metro in the last week or so of a woman that bought a home only to have the old lender wrongly foreclose on the property and change the locks before she could even move in. They were apparently in the process of clearing it all up at the time her story aired. I can't find it now.
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Anything is possible, but that's not something that would be the norm and I'm afraid discussing it beyond a lesson on the importance of title insurance would scare people.
 
C. Mark said:
unionmom said:
This is making me crazy now ... I know there was a story in the ATL metro in the last week or so of a woman that bought a home only to have the old lender wrongly foreclose on the property and change the locks before she could even move in. They were apparently in the process of clearing it all up at the time her story aired. I can't find it now.
Click to expand...

Anything is possible, but that's not something that would be the norm and I'm afraid discussing it beyond a lesson on the importance of title insurance would scare people.
Click to expand...
However you choose to bring it up, it's an important lesson. Some of my neighbors had issues with one of the builders in our subdivision that would have been horrifically ugly if they had not had title insurance. There were attempted liens in the area of $30,000+.
 
I think it would be great if you explained the difference between Lender's title insurance and an Owner's Title insurance policy. It is such an important issue and one that buyers are often confused about.
 
That's a good spin on it BB and it ties in with another question I got earlier. Thanks.
 
You could also talk about the importance of a home inspection.

And for the first time home buyer ... a total walk-through of the closing procedure. It's a whole lot of things to sign and numbers flying around and on and on.
 
UM...go back and read the series "Home Buying In Five Steps" all of those items are covered. We concluded last week with Step 5 - The Closing. Parts 3 through 5 were linked on this board, and the links to 1 & 2 can be found in each article.
 
C. Mark said:
UM...go back and read the series "Home Buying In Five Steps" all of those items are covered. We concluded last week with Step 5 - The Closing. Parts 3 through 5 were linked on this board, and the links to 1 & 2 can be found in each article.
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Sorry ... I missed that this was to be part of that series. Been one of those weeks/months/years. :))
 
The "Ask the Broker" feature is a stand alone piece. Sort of a semi regular feature of the weekly common. The 5 part series ended last week but you can still read all five parts.
 
unionmom said:
This is making me crazy now ... I know there was a story in the ATL metro in the last week or so of a woman that bought a home only to have the old lender wrongly foreclose on the property and change the locks before she could even move in. They were apparently in the process of clearing it all up at the time her story aired. I can't find it now.
Click to expand...

My favorite story like that was when BoA (i.e., THE DEBIL) attempted to foreclose on those folks in Florida WHO DIDN'T EVEN HAVE A MORTGAGE because they had paid cash, and the people fought it and won. Then when BoA didn't pay up, they foreclosed on a local branch. Shut it right down and deputies, etc., were toting out computers, etc. They had a check in about an hour. HAHAHAHAHAAHAHA

OK, sorry - no questions here. Not because I know everything...I'm just too scattered right now to think.
 
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