Welcome to Foreclosure Guide
Foreclosure Consultant Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Free Estimates for Fixing up Your Foreclosure Properties Can Yield a significant Savings in Your Overall Budget
from:No doubt you are planning on investing in foreclosure properties because you will want to take advantage of the downward slope in the US real estate market at this time. You will be able to purchase properties at well below market value and that is a consider feather in your financial cap so to speak. Your work does not end after obtaining the loan for financing and paying the closing fees on the foreclosure properties.
Though you may be able to rent out the foreclosure properties as is, especially if you were shrewd enough to purchase only the most quality foreclosure properties in good areas. You will no doubt have to do some fixing up. You want your foreclosure properties to continuously appreciate so that you can get maximum dollar value in the future should you decide to resell.
What you need to do from the start is get an estimate from a qualified professional on how much the repair and renovations will cost on your foreclosure properties before you even buy them. If not then, right after the purchase so that you can avoid damage and deteriorations on foreclosure properties from escalating beyond your financial control.
Actually, you can get free estimates on the cost of fixing up your foreclosure properties and that will help save you money when you are planning your own financial budget.
You will get to see most of the foreclosure properties before purchasing. The banks will let you see properties and so will government owned properties in many states offered by the HUD and VA programs. There may be a little more difficulty viewing properties put up at auctions but it is not entirely impossible to see them either. Inquire with state laws what your rights are in this manner.
How Many Free Estimates are Needed?
• Get several estimates upon the same property and same work to be done on that property. Do not just accept the first bid for the job.
• Get estimates over the telephone, to insure that you do not have to pay for the cost of your estimate.
• Make it clear to the prospective contractors that you are looking for free estimates at this time.
Compare prices
• Do not invite each professional at the same time, talk to them individually ask as many questions about the work as you need: What work needs to be done, how will it be done, how long will it take to do it, what are the labor costs, and how much will it cost up front and at the end of the contract.
• Ask about the refurbishing costs (bringing property up to standards) and how long the existing appliances or things like the electrical and plumbing systems should last in their existing state.
• Ask about the replacement costs for parts.
• Take the initiate to go to the hardware stores and price these items to see if the contractor is being honest or overcharging you for the pieces.
• Use online cost estimates on fixing up properties, such as the Home Remodel and Cost Guide by Marshall & Swift, this guide is widely used through the Industry.
• Get an estimate from the hardware or home improvement center before soliciting professional contractor estimates.
Wherever possible do your own repair work in order to cut down on fixer upper costs. Use your own people, before contracting to a private company. However if a professional team can get material at discount and you need quite a bit of material to fix up your foreclosure properties, you will have to weight the material cost against labor cost to see which direction will yield the highest savings for you.
Foreclosure Consultant News
Bank Regulator Halts Work of Foreclosure-Review Consultant
A U.S. banking regulator on Friday halted the work of a consulting firm hired to review foreclosure documents as part of a comprehensive review of bank foreclosure practices. The Office of the Comptroller of the Currency said Allonhill LLC had done outside work that wasn’t consistent with independence requirements for consultants working for banks in [...]
Read more...Hollister bishop admits to foreclosure fraud
A San Juan Bautista man and Hollister church bishop has pleaded guilty to felony foreclosure fraud in connection with his work as a foreclosure consultant in 2005 and 2006 and the cases of three famil
Read more...Milwaukee to hold home ownership fair
The city's foreclosure consultant, Suzanne Dennik, says four of the homes, and maybe more, will sell for as little as $5,000.
Read more...Regulator Halts Work Of Consulting Firm On Foreclosure Review
A U.S. banking regulator on Friday halted the work of a consulting firm hired to review foreclosure documents as part of a comprehensive review of banks' foreclosure practices.
Read more...Florida Foreclosure and Short Sale Experts Help Homeowners Avoid Foreclosure without Bankruptcy
Florida foreclosure and short sale experts at AvoidForeclosure.com have expanded programs nationwide to help homeowners avoid foreclosure. The new services provided include alternative ways to stop foreclosure without requiring an attorney or filing bankruptcy.Jacksonville, Florida (PRWEB) April 22, 2012 Florida foreclosure and short sale experts have the unfortunate task of viewing the face of ...
Read more...Short sales outnumber foreclosures amid housing recovery
It's a subtle sign of the housing recovery: Short sales have finally exceeded the number of foreclosure sales in South Florida.
Read more...DA: Man pleads guilty to cheating three South Bay families out of $650,000
Wesley Fort, 56, of San Juan Bautista, convinced the families to tranfer title of their homes to him in order to avoid foreclosure. Fort, who was bishop of a Hollister church at the time, made money and the families lost their homes.
Read more...Receiver: Caution on MPH, still learning facts after hospital change
The receiver appointed last week to administer the operations of Medical Park Hospital through a judicial foreclosure proceeding expressed caution as he declined to comment Tuesday concerning developments at MPH since he arrived in Hope on Monday.
Read more...