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Eleven things to be aware of when considering buying an REO Property!
Eleven things to be aware of when considering buying an REO Property! These are a few of the most important pitfalls to consider: Approximately two years ago, I wrote a blog post (http://activerain.com/blogsview/1383023/buyers-beware-when-considering-buying-foreclosures ) about things to be aware, when considering buying a Foreclosure home. Needless to say most of the points are still valid. 1. Do not presume that it is a good deal. Do your research of the comparable properties and then be wise as to what you are offering to make sure it is worth what you getting it for. 2. Banks and Asset Managers are not emotional; they are rather rude at times. Do not expect it to be like a “normal” purchase. They might not respond to your offer. They might not respond in a timely manner to name a few of the issues. It is strictly business, not necessarily good business manners, but definitely impersonal. 3. Do not be shocked when you walk into the home for the first time. Either it will be totally trashed or totally stripped including the toilets and door knobs missing or full of debris. 4. Sometimes you might even find squatters living or being barricaded in the home. 5. There might be a great deal of damage, either owners taking out their frustrations or just due to neglect. There might be visible signs of water damage from the roof on down. 6. Do not expect to get any Disclosures from the Bank or their representative. This home you are definitely buying “as-is” and the responsibility to do your investigation is 100% on you the buyer. 7. Expect time delays at every turn. If you are a cash buyer than it is easier to handle than if you are purchasing the property with a loan. 8. Do not expect credits from the bank for anything; be prepared that if it is due to your “fault” they might even charge you for delays that they were ultimately creating by not responding in a timely manner. 9. Most importantly be prepared that there will be fierce competition from investors who are seasoned and savvy. For example short investigation period and short escrow period with all cash will generally trump a “normal” offer. 10. Banks will have their own disclosures for you to sign and basically you sign your life away and will be impossible to take recourse against the bank if you discover things later that you were not aware. For example that the Sewer was blocked or damaged and many other things. 11. Banks will make you use their Title & Escrow Companies. Even though it is illegal now to do that, never the less they found a way around it. If you do not use their companies there will be a Charge so high in addition where it does not make economic sense to use your own. Since I wrote my original post many others have started echoing my points, here is one example, check out what HGTV had to say: http://www.frontdoor.com/buy/how-to-buy-a-bank-owned-property-or-real-estate-owned/1 If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver...
read moreChristmas is celebrated on December 25th of every year, why this date?
Christmas is celebrated on December 25th of every year. Why was December 25th chosen as the day to celebrate Christmas? There are many theories and historians differ on the answer why December 25th is Christmas. The important thing to remember is that it is a celebration of the Birth of Jesus Christ, not the controversy of what the actual date is. Many countries and ethnic cultures celebrate Christmas Eve by going to Midnight Mass. Around Europe Christmas Eve is also a time to exchange presents. There are a lot of traditions around the world one thing is certain, that the Midnight Mass at the Vatican Celebrated by the Pope is the most important and most memorable Mass. Having been born in Hungary, and then relocated to Austria, I grew up with Christmas Eve being the most important evening with exchanging of love, affection, presents and going to Midnight Mass or at least watching it on TV. Every Christian dreams of one day going to the Vatican to experience the Pope Celebrating Midnight Mass. This year the pope went above the normal tradition and he even brought in nine trumpet players to add to the quality of the music. Whether you are Catholic or not make a resolution to watch Midnight Mass on TV real soon, you will not be disappointed and might get a better understanding of a Sacred Catholic Tradition. I have enclosed a great many pictures of the Midnight Mass of 2012. Now with that said I hope you will enjoy them. At the same time I would like to wish you and your family, peace, love and a very Merry Christmas! If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreThe Lloyd Taber County Public Library helping Marina Del Rey, CA !
The Lloyd Taber County Public Library: helping the Marina Del Rey Community! I highlighted this great library on September 07, 2008: There is the Lloyd Taber-Marina del Rey Library, 4533 Admiralty Way, and Marina Del Rey, CA 90292 this library was built by the Los Angeles County Department of Beaches and Harbors in 1976. It provides access to the entire County Library collection. There is no affiliation to the Los Angeles Public Library System so you get a separate Library Card when you join. They also sell books at a very reasonable price as well. ( http://actvra.in/NrQ ) Well, it is almost the end of 2012 hence I felt, it was time to revisit and emphasize this great library. There is the beautiful building which caters to the affluent as well as the ones who are down on their luck. During warm days they stay open just to provide Air Conditioning to the one who need to cool down. In the winter time you can stay there and warm upJ. If you do not have internet you can stop in and you get free access to the World Wide Web. ( www.lacountyarts.org/civicart/projectdetails/id/77 ) The most interesting part to me about this great library is that, there is so much history which they try to preserve. How many libraries do you know that go out of their way to save the history? That is what I call being ahead of their time! In addition the Library accepts everyone: the ones who just want to drop off a book to help the library’s finances or the ones who just want to read at the library they all can do that. Then the others who want to buy a reasonably priced book can do so and the Library gets the proceeds. As you might guess I go there often to buy and help the libraryJ I should go more often! Their normal hours are as follows unless it is very warm or cold than they are open longerJ Monday: 11:00 AM – 7:00 PM Tuesday: 11:00 AM – 8:00 PM Wednesday: 11:00 AM – 8:00 PM Thursday: 11:00 AM – 8:00 PM Friday: 12:00 PM – 6:00 PM Saturday: 10:00 AM – 5:00 PM Sunday: Closed (310) 821-3415 http://www.colapublib.org/ 4533 Admiralty Way, Marina Del Rey, CA 90292 Between Bali Way and Marina City Cir If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreSeafood Restaurant with Stunning Water Views & Ambiance : Cafe Del Rey
A Seafood Restaurant with Stunning Water Views & Ambiance is Café Del Rey in Marina Del Rey, CA 90292. My very first Blog Post was about Café Del Rey in Marina Del Rey, CA. a truly great Restaurant(http://actvra.in/bvZ ) Café Del Rey is probably one of the best restaurants in the area. I said this in August of 2008. Many things have changed in our lives since August 28th 2008. Some were for the better others for the worse. The Good News is Café Del Rey has gotten better. (http://cafedelreymarina.com) It is interesting to see when you like something and you discover that they improved it. I wish I would have taken pictures for my original blog, for a multitude of reasons. Café Del Rey has done a facelift of the building and their Sign since my original blog posts. They have done a facelift in the kitchen as well. There is a new Executive Chef and a New Pastry Chef since my 2008 blog. The food has improved on all levels from starters to deserts. The location and the view remained the same. The Restaurant is still catering to the discriminating taste of the locals as well as the visitors who are staying at the Ritz Carlton and can walk from the Hotel to the Restaurant. The rest of the other hotel guests might have to drive or take a cab if they are not up to a leisurely stroll from their hotels. Keep in mind the walk is less than a mile from the Marriott which is the furthest distance in comparison to the other hotels. I wrote another Blog Post about Café Del Rey around October 2011 (http://actvra.in/kDD ) this time I took pictures and it was with the new Outside Façade. During the summer of 2012 one of my Active Rain friends Jeff Dowler from Carlsbad CA asked for a Restaurant recommendation, because he was visiting Marina Del Rey for his Wedding Anniversary. He also knew reading my blogs and getting to know me that I was a foodie as well… check out what he had to say (http://actvra.in/Nqf ) Now with all my reading and reviewing old posts of Café Del Rey I have developed a craving and when Diane comes back from Boston, MA we will have to go here again. Come home soon DianeJ!! http://cafedelreymarina.com/ 4451 Admiralty Way, Marina Del Rey, CA 90292 Call for reservations: 310.823.6395 If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations...
read moreFall of the Giants by Ken Follett: a must read for all!
Fall of the Giants by Ken Follet: a must read for all! Especially it should be required reading in High School! First I must say most people would be daunted with tackling a book that is around 1000 pages. Needless to say, those of us who have read Ken Follett understand and look forward to his larger booksJ he is a Story Teller par excellence. Writers who are great story tellers are fun to read and the pages become unimportant. If you are not familiar with Ken Follett check out my blog that I wrote a while back http://actvra.in/NnD The only reason it took me this long to finish his book was, because I am first and foremost a Full Time Realtor, second I cook almost every night without bragging mostly from scratch…. Now about my observations: If you are like me, then you will agree that most of us are more familiar with the period that follows this book, hence it was refreshing to read Follett’s historical fiction giving me a refresher course on the end of the Tsar’s regime, the end of the Kaiser’s regime, the beginning of Communism in Europe and what the causes of World War II were. Of course it was interesting seeing and living this period through the eyes of the various participants from the Russian Peasant’s to the Aristocracy in Europe: particularly Germany, England and the United States. Follett gives a descent perspective of what occurred during this period and he stays loyal to the historical facts. I found it at times, somewhat having a rosier view of President Wilson’s position as well as that of the lower classes. Never the less I would make this book required reading in high school for all students and have open discussions comparing the events with Follett’s perspectiveJ Most importantly I found the Characters fascinating, some with their strengths others with their weaknesses never the less I could not wait to read how their lives were developing, changing and meandering due to the historical events that were taking place. Now I will look forward to reading the next one which I call Volume Two : The Winter of the World. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations...
read moreHolidays are for giving & receiving. Some people say it is better to..
Holidays are for giving & receiving. Some people say it is better to give… Well when I got home there was a delivery in front of our door. Once I opened it my attitude changed from it is better to give than to receive. I was thrilled that we were on the receiving end of this giftJ. Look at these pictures and tell me what your position would beJ ? http://www.berries.com/Sweet20 Diane is still out of town and I started reading the instructions and discovered that this is a gift all for me. I called up and thanked Mark & Janet for the nice giftJ I promised them that I would take pictures so Diane could see themJ. If you like these feel free to call 877.318.2195 for your self or your friends! So here you go. Hope you like the pictures and just so that you know the pictures do not convey the taste! I do not need an excuse, I could inhale the entire box…but I will try to behaveJ If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreDark Chocolate Brownie Wednesday: I mean wordless Wednesday:)
Dark Chocolate Brownie Wednesday: I mean wordless WednesdayJ Those of you who know me, I have a hard time with “Wordless Anything” so with that said, you tell me what you think! If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations...
read moreA VACANT LOT WITH POST CARD VIEWS OF DOWNTOWN LOS ANGELES. JUST SOLD!
A VACANT LOT WITH POST CARD VIEWS OF DOWNTOWN LOS ANGELES. JUST SOLD!! THIS LOT HAS IT ALL, FANTASTIC PANORAMIC VIEWS. TRULY THE BEST PRICED VIEW LOT IN THE HOLLYWOOD HILLS. SELLER HAS RELOCATED AND WANTS TO SELL IT FAST. JUST A GREAT VALUE FOR DEVELOPERS AS WELL AS INDIVIDUALS WHO WANT TO BUILD THEIR DREAM HOME OR JUST INVESTORS WHO WANT TO MAKE A PROFIT. THIS LOT IS IN A MULTI MILLION DOLLAR NEIGHBORHOOD. CONGRATULATIONS TO THE BUYER AS WELL AS THE SELLER! If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations...
read moreHudson Book Sellers @ Logan Airport Boston MA: the Holiday Book Tree!
Hudson Book Sellers: Logan Airport in Boston, MA the Holiday BOOK TREE As most of you know book stores are few and far in between now days. Every time we travel we try to support all the Booksellers around the country. Needless to say we love the Hudson Book Store at LAX (Los Angeles International Airport). Diane had to fly back to Boston, MA and on her way out of the Terminal she saw the Hudson Book Store and it was not a small little satellite store, rather it was a full size Book Store. She snapped this picture and wanted to share with meJ and of course in turn I had to share with you. At the same time I would like to wish you all the warmest of Holiday Season and hope your life will be full of joy and laughter now and in the future! If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreThe Dorian in Playa Vista, CA during the Holidays
The Dorian in Playa Vista CA during the Holidays! As most of you know I have been marketing a fantastic property at the Dorian in Playa Vista, CA! The unit is a townhouse style condominium on the top floor. Unit #415 is move- in ready. I have been so impressed with the Home Owners’ Association you have to check it out! More importantly you should purchase this great Condominium! Check out the Holiday Festive Decorations. This is truly the most luxurious building in Playa Vista, CA Planned Urban Development Community! I for some reason you missed some of my previous blog posts about the Dorian, then please check them out below and Happy Holidays to all who are reading this blog post! http://actvra.in/DtL http://actvra.in/KRr http://actvra.in/HqR http://actvra.in/DYV How many Home Owner Associations do you know that decorate their complex?? If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
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