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Entries Tagged as 'tips for purchasing a foreclosure'

What is the difference between a foreclosure and a short sale?

April 13th, 2009 · No Comments · macomb county mi real estate market, short sale advice in Macomb County MI, tips for purchasing a foreclosure

For many home buyers in Macomb County there is confusion when it comes to the definition of a foreclosure (bank owned home) and one that is labeled as a short sale. A home that is labeled as a foreclosure (or REO, or bank owned) is one that the bank already has taken possession of through [...]

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“Tagged” homes in the City of Warren (Macomb County MI) – what you need to know to purchase the home.

March 5th, 2009 · 15 Comments · first time home buyers, macomb county MI, tips for purchasing a foreclosure, warren MI

If you’ve viewed homes for sale in the city of Warren lately you’ve probably come across some that have this notice taped to the window or the door: When I’m out and about showing homes to buyers I’m seeing more of them on vacant homes.   (Most of the vacant homes have been foreclosures or bank [...]

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Tips to get through an FHA appraisal on a bank owned (foreclosure) purchase

January 16th, 2009 · 1 Comment · fha mortgages and first time home buyers, tips for home buyers, tips for purchasing a foreclosure

Wednesday of this week I had time to sit down and have a leisurely lunch with a mortgage represensative, Mike Caira of Great Lakes Mortgage Funding in Sterling Heights, that I think highly of and trust to give me the most accurate information. One of the things that I wanted to know was if he [...]

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HUD and its $100 down program

January 6th, 2009 · No Comments · fha mortgages and first time home buyers, first time home buyers, macomb county mi real estate market, tips for purchasing a foreclosure

As it is with most mortgage programs and down payment assistance, there is much misinformation out there when it comes to the program details. HUD has a program for Michigan home buyers that allows for a $100 down payment when used with a FHA mortgage. A couple of important details with this program: You must [...]

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An answer for Patricia – waiting (and waiting) for an answer on an offer to purchase a bank owned home

December 22nd, 2008 · No Comments · macomb county mi real estate market, tips for home buyers, tips for purchasing a foreclosure

One of the features of this blog is that a reader can ask a question or leave a comment without having to log in and subscribe. Recently a potential home buyer named Patricia asked a question that many people have been asking: “I have an offer in on a bank house now and its been [...]

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Chesterfield Township MI foreclosure bargains

July 14th, 2008 · 2 Comments · chesterfield township, macomb county mi real estate market, tips for purchasing a foreclosure

One of the subdivisions in Macomb County Michigans Chesterfield Township that is seeing a few bank owned homes hit the market is Muirfield Manor. This subdivision is located within the Lanse Creuse school district and can be reached south off of 24 Mile Road just east of Gratiot. This ranch home is for sale currently [...]

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Purchasing a foreclosure in Macomb County MI – Tips & Guidelines

June 28th, 2008 · 2 Comments · tips for purchasing a foreclosure

  I have been viewing foreclosures and representing home buyers in Macomb County in their purchases of bank owned properties and decided to put into writing some of the things I have learned along the way. I hope you will find these tips helpful. Prior to making your offer: Always consider an offer on a [...]

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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.