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Archive for September, 2012

Buying an Oakland County or Lapeer County Foreclosure? What to Expect

Or more precisely what not to expect.

Don’t expect to be able to negotiate anything other than price.

Think $150 to re-key a door is high? Too bad. There’s no way around it and you won’t get the key at closing. It may be left in your mail box. Or on the electrical box. Or in the mud under the electrical box.

Furnace doesn’t work? Don’t expect it to be fixed or replaced.

Your attorney doesn’t like the wording in the bank addendum? Too bad. If you change it the seller will back out (or not sign it- same thing).

Want the by-laws which are required to be supplied to a potential buyer in Michigan? In fact if the property is a condo or site condo the buyer can legally walk until they are received and approved. But in the case of a bank owned property you will probably end up at the county building getting them to the tune of $.50/page because neither the seller nor listing agent will have them.

Buying a foreclosure on a private road? You may need to walk door to door getting signatures on a private road agreement or you may not get your mortgage. The seller won’t do it, and heaven forbid the listing agent actually do his or her job.

The seller’s agent may or may not make sure the utilities are on and the house un-winterized prior to your home inspection.

The seller’s agent may or may not make sure the driveways are cleared (in the winter) so bring your boots.

The listing agent may have the utilities on– but if we’re looking in the dark bring a flashlight because there’s no guarantee there will be lights.

The sad facts are, the banks and government (many foreclosures are government owned) don’t care. If the sale falls apart they can just put it back on the market and unlike a normal seller they can afford to keep reducing their price.

It’s a sad fact that most foreclosure listing agents in Oakland County MI and Lapeer County MI don’t even look at their listings let alone service them.

Want to buy a foreclosure listing in Oakland County or Lapeer County MI? You MAY get the house for a good price, but is the discount worth the stress, lack of protections, and probably hidden defects you will need to correct later worth the discounted price?

One other thing to consider– the re-salability of the house. Right now I have 2 listings that were previously bought as foreclosure listings. I have title issues on one and trying to track down the private road agreement for the other before we get an offer. The advangage of using an agent who specializes in NON Distressed sales.

Buying a Distressed Listing

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Jackie Hawley
ReMax Encore, Clarkston MI

Cell: (248)736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

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Is Mediocrity Becoming The New Norm? It Doesn’t Have To Be.

I have a closing this afternoon at 4 pm. It is now 12:54 pm and the buyer’s title company received the lender’s docs just minutes ago. I’m the listing agent, and it looks like we won’t get closing packages prior to the closing. The buyer will either have to guess at an amount of certified funds to bring to closing or scramble at the last minute to get his money to close.

The reason for all this last minute crap? It’s the end of the month. WAAAAAAAAAAAAAAAAAAAAH! Staff for it!

If it was the beginning or middle of the  month there would be a different excuse. Because the fact that it is month end is just that- an excuse. The buyers had 6 weeks to get their mortgage approval and close. I closed one yesterday that took a total of 3 weeks from the date our offer was accepted until close, and we had closing docs 2 full days in advance.

How do you avoid all this last minute slop? Ask me for the contact information of my preferred lenders, and let me send the entire sale to First American Title. There are a lot of people involved in getting a sale to the closing table, and all it takes is one slacker to hold things up or cause undue stress. So the best way to insure an easy, stress free real estate transaction? Hire me as your agent, use one of my preferred vendors. I receive no kick backs or referral fees from any of these people/companies. I recommend them because they are the best at what they do.

Choosing a Buyer’s Agent

Why List With Me

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Jackie Hawley
ReMax Encore, Clarkston

Cell: (248)736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

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All Sports Lake Orion- Lowering Lake Levels for the Fall

Lake levels on Lake Orion have been reducing since September 10 and will drop a total of 3 feet for repairs, maintenance and inspections. Lake Orion is typically lowered about a foot for the winters, but every 5 years the level is dropped about 3 feet. This allows homeowners to work on their sea walls and allows for the township and village to inspect their bridges and dam.

The lake will re-fill naturally and should be back to normal winter levels by November 1 before hibernating animals (frogs, turtles, etc.) head underground for the winter. The Village of Lake Orion will hire the DEQ to inspect the dams and a private consultant or engineer to inspect the Lake Orion Bridge.

Would you like to live on All Sports Lake Orion?

Homes for Sale on Lake Orion

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Thinking of selling you Lake Orion home?

Preparing Your Home for Sale

Why List With Jackie Hawley

My Marketing Plan

Jackie Hawley
ReMax Encore, Clarkston MI
Jackie@JackieHawley.com

www.MiRelocation.com  

Cell: (248)736-6407

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