bank foreclosures mobile homes

Join our discussion!
Foreclosure-Investor Weblog! Click Here!

A simple, yet powerful and proven formula that will grab you by the hand and walk you step by step to your real estate fortunes!
Build Massive Wealth With Foreclosures

Seized real estate market is hot! Every month thousands of properties become repossessed by banks, state, federal and private organizations through various seizure and bankruptcy laws. Those properties could be purchased through auctions at a fraction of their actual market value!
SeizedRealEstate.com - Property Auctions

Sick of get rich quick stories? Something fishy in those other websites? Get the REAL DEAL!
How to Buy Foreclosures

Makes Massive Profits Turning Real Esatate Trash Into Cash
Fixer-Upper Fortunes

Buy houses, commercial buildings, and raw land at the lowest possible price, seized from delinquent debtors.
Forfeited Property: Seized Houses

Step-by-step, turnkey system, complete will all necessary software for the professional foreclosure investor!
Foreclosure Hunters Guerrilla Marketing

What You Don't Know About The Real Estate Process, Some Inside Secrets
By Suzie Shannon

Some people in the real estate industry have a terrible reputation. Why, because they deserve it. A lot of hard earned money trades hands and if things go wrong that leaves a very bitter taste in the injured parties mouths.

In real estate most people stay in the house for a long time. If they don't, many times they sell the house themselves or quite often deal with different professionals the next time around. This doesn't always mean they were dissatisfied the first time. Sometimes a new agent sells him or herself. Believe it or not sometimes the property will be listed and a seller and buyer meet. Then when the listing expires, guess what.

The mortgage company is usually the one that profits most from the transaction. Sometimes the seller makes a pretty nice profit. In my opinion agents and brokers usually make too much money for the service they are supposed to provide. For example a broker can make $18,000 or more on a $300,000 house which is no more work, in fact usually it is less work than a $50,000 property. The other professionals, excluding the mortgage company, charge a very small set fee. An appraiser only gets $300 to $400 which is regulated by VA (for VA loans) and the market. The attorneys, surveyors and inspectors get even less. If they charge more, most agents will use someone else.

Two things are collected up front at the mortgage company. An appraisal fee and credit report fee. Many times the purchaser has been overcharged for these fees. Always check your settlement statement. They are also told that the appraiser has to be paid up front when the truth is, many times the appraiser isn't paid for several months.

Last year it was brought to my attention by some refinancers that their loans had been delayed because the lender didn't have the appraisal. I told them they did have the appraisal. Then the homeowners contacted me and told me that after four months of not closing, the officer left the company, went somewhere else and wrote a letter of apology. He stated that the manager had instructed him to stall the loan in anticipation of a rate incease.

Suzie is a licensed real estate broker and certified residential appraiser with 20 years experience. Other professionals have contributed as well. http://www.freewebs.com/realestatenews