Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Seven Things to Consider When Purchasing a Short Sale – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Wed, 18 Jun 2014 14:40:38 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Seven Things to Consider When Purchasing a Short Sale Seven Things to Consider When Purchasing a Short Sale[/caption] A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full. Short sales can be very tricky, no doubt about that.  They also can be very frustrating in particular to the buyer who is involved in the transaction.  There are certain things that can be done to help successfully complete a short sale.  When purchasing a short sale there are some things that need to be considered before entering into a contract to purchase one.  Here are seven things to consider when purchasing a short sale! Experience Counts Purchasing a short sale is much different than purchasing a home that is a "normal" sale.  A short sale is very complicated in comparison to a "normal" sale.  When purchasing a short sale, the real estate agent representing the buyer should have experience in dealing with short sales.  It is extremely important and the success of a short sale being successfully completed can often be determined by who the buyer's agent is and their experience in dealing with them.  A real estate agent with experience in dealing with a short sale will know the process of a short sale and also the correct questions to ask the lender and/or listing agent. Multiple Decision Makers In a "normal" real estate transaction there is one decision maker, the seller's.  When purchasing a short sale, it must be taken into consideration there is going to be multiple decision makers.  It can range anywhere from two decision makers to five or six, depending on the number of lien holders.  For instance, if a home owner has their initial mortgage and then decided a couple of years after buying the home that they wanted to do some improvements and took a loan against their equity, now there is three decision makers.  In the case of multiple lien holders, purchasing a short sale can get even more complicated.  Any offer to purchase must be reviewed and accepted by not only the seller's of the home but also any party(ies) who have interest or ownership of the property. [caption id="attachment_1147" align="alignright" width="347"]Foreclosures are still possible when purchasing a short sale! Foreclosures are still possible when purchasing a short sale![/caption] Foreclosures are Still Possible A short sale can take from a couple of months up to even 6 or more months.  Often a lender who is reviewing an offer, when they finally get around to it, will counter or request more information from the purchaser.  In the meantime, while these months are passing by, a foreclosure can be in the works at the same time.  It must be known when purchasing a short sale that a foreclosure is possible at any time. "As-Is" Purchases Many short sales are sold in "as-is" condition, just like a bank owned home or foreclosure.  A common reason that a short sale is sold "as-is" is due to the fact that a seller may not have any money to complete repairs requested of them from a buyer or an appraiser.  Every buyer has the right to a home inspection, but when purchasing a short sale that is being sold "as-is," keep in mind that any repairs or safety issues may not be addressed by the seller.  Another common reason that short sales are often sold "as-is" is because a lender will not want a seller spending money to complete the repairs. Patience is a Must As mentioned above, short sales can take from a couple of months up to as much as 6 months or more, so patience is an absolute must!  When purchasing a short sale, it's very possible that months could by and no progress is made.  In addition to the lack of progress, it's common that the response from the lender is little to none.  Not knowing if any progress is being made and the lack of communication can be extremely frustrating to a buyer.  While a lender is reviewing an offer to purchase, a buyer has basically taken themselves out of the open market.  They are at the mercy of the lender and their response time.  Lots of patience is a must when purchasing a short sale, period! [caption id="attachment_1146" align="alignleft" width="300"]Denial from a lender is still a strong possibility when purchasing a short sale! Denial from a lender is still a strong possibility when purchasing a short sale![/caption] Denial is a Strong Possibility After being patient for months, denial is still a strong possibility.  After waiting months and months, an offer can be denied and can be heartbreaking.  Every person handles denial differently, so when purchasing a short sale, it must be taken into consideration that denial is still a strong possibility. Be Prepared Once the short sale lender gives the "clear to close" it is extremely important to be prepared!  When purchasing a short sale a buyer must absolutely be pre-approved (not prequalified, there is a difference!) and be ready to close with all the necessary funds when the lender finally gives their approval!  Once a lender gives their "clear to close" there is often a short period of time they allow for the closing to take place, so be prepared! A short sale can be tricky and time-consuming, no doubt about it.  When considering the purchase of a short sale, a buyer must take into consideration the above seven items.  If unable to be patient, don't get involved in a short sale!  If unable to handle denial, don't get involved in a short sale! What other things do you think a buyer should consider when purchasing a short sale? Other Resources Regarding Purchasing a Short Sale Considering the purchase of a short sale in the Greater Rochester, NY area?  Contact us, we'd love to help assist you with the process!
About the authors:  The above article "Seven Things to Consider When Purchasing a Short Sale" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>