Sussex County Real Estate Matters – Affecting Seaford, Georgetown, Lauel, Milton, Delmar, Bridgevil
Today’s food for thought is from Harriet Tubman: “Every great dream begins with a dreamer.” (Fred) “Dreamers with persistence usually become successful.”
Fred’s pick of the day is MLS # 607123-From $129,900 to $124,900. An in-town Georgetown, DE Rancher that is a Short Sale is waiting for a new owner. This home will provide plenty of work for that DYI guy or gal. Call me to see this home @ 302 258-6983. www.fredsporch.com
Today’s food for thought is from Harriet Tubman: “I freed a thousand slaves I could have freed a thousand more if only they knew they were slaves.” (Fred) “They are many types of slavery, only the obvious are illegal.”
Fred’s pick of the day is MLS # 607863-From $135,000 to $121,500. A Bethel DE Farm House is going to Auction 12/22/2013. The home has 3 BR, 2 BA, on .79 acre, a new kitchen, updated BR’s, living room and dining room and one bath that needs rehab. A 5% buyer’s Premium will apply. Call me to see this diamond in the rough at 302 258-6983. www.fredsporch.com
Today’s food for thought is from Grover Cleveland: “The lesson should be constantly enforced that though the people support the Government, Government should not support the people.” (Fred) “Too bad that the people found out that they can vote themselves benefits which are overloading the ship of state and will cause it to sink.”
Fred’s pick of the day is MLS # 607185-From $127,600 to $108,750. A HUD property in Milton, DE which has 3 BR, 2 BA and is SOLD AS IS, has been reduced again. Call me to view this home @ 302 258-6983. wwwfredsporch.com
Today’s food for thought is from Buddha: Believe nothing, no matter where you read it, or who said it, no matter if I said it, unless it agrees with your own reason and your own common sense.” (Fred) “I read it in the paper, I saw it on the Internet, I heard it on the radio, my friend told me; make sure you take Buddha’s advice!”
Today’s pick of the day is MLS #606757-From $339,000 to $322,050. This Cape Cod in Milton, DE that boasts 4BR, 2.5 BA, in 3100 sq. ft. on 1.75 acres is available. This is a SHORT SALE and is sold AS IS. Call me to see this home at 302 258-6983. www.fredsporch.com
Today’s food for thought is from Buddha: “It is better to travel well than to arrive.” (Fred) “Today’s air travel is most regrettable, from the degrading searches to the cattle car mentality of the airlines, it is much better to arrive than travel.”
Fred’s pick of the day is MLS # 606340-From $74,900 to $64,900. Here is a Georgetown DE Class C home, sold AS IS. The home has 2 BR, 2BA in 1056 sq. ft. on .51 acres. Call me to see this home at 302 258-6983. www.fredsporch.com
Today’s food for thought is from John Kirkland: “If hard work were such a wonderful thing, surely the rich would have kept it all to themselves.” (Fred) “There is hard work and smart work, successful people work smart.”
Fred’s pick of the day is MLS # 607185-from $145,000 to $127,600. Here is a Milton DE HUD home. The home has 3 BR, 2 BA and id sold AS-IS. A cash buyer is needed. Call me to see this home at 302 258-6983. www.fredsporch.com
Today’s food for thought is from Henry David Thoreau: “Be not simply good; be good for something.” (Fred) “Being good for something makes life an adventure.”
Fred’s pick of the day is MLS # 599078-From $1,025,000 to an approved Short Sale of $950,000. A Lewes Home and a Canal front lot with a boat house and 3 floating docks. The main home has 4 BR and 2BA. Call me to see this home at 302 258-6983. www.fredsporch.com
Today’s food for thought is from James Anthony Froude: “The first duty of an historian is to be on guard against his own sympathies.” (Fred) “I really dislike revisionist history, they are seeing things from a very different perspective than even a bias participant in the making of that history.”
Fred’s pick of the day is MLS # 602257-From $174,000 to $147,000. A Fannie Mae property in Lewes, DE with 3 BR, 1BA on .31 acre, that is in a great location. Call me to see this property at @ 302 258-6983. www.fredsporch.com
Today’s food for thought is from Cicero, 55 BC: “The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome become bankrupt. People must learn to work instead of living on public assistance.” (Fred) “There is nothing new under the sun, history repeats itself, and the definition of an idiot (doing things the same way and expecting different results), all come into play here. We have done it again!
Fred’s pick of the day is MLS # 600007-$124,000. This is a Fannie Mae property in Georgetown DE, with 6 BR, 4BA, in 4710 sq. ft. on 5 acres, that has just been reduced. Call me to see this home at 302 258-6983.
Today’s Food for thought is from George Washington: “To err is natural; to rectify is glory.” (Fred) “Act, and if wrong amended your action but act.”
Fred’s Pick of the Day is MLS # 601493-$85,000. Here is a HUD Rancher in the town limits of Seaford, DE which has 3 BR, 1.5 BA in 1428 sq. ft. with a metal roof and replacement windows. Sold AS IS for appraised value. Call me to see this home at 302 258-6983. www.fredsporch.com 
Buying a foreclosed property can be a great deal, but it can also be confusing and stressful. Here are five things you should know to make the process easier.
Buying a foreclosed property can be a great deal, but it can also be confusing and stressful. Here are five things you should know to make the process easier.
Take it or leave it. Foreclosures are sold “as is.” In a normal home sale the sellers are required by law to make all kind of disclosures about issues that the home has had in the past, repairs made to the home, repairs that need to be made to the home, etc. In the foreclosure process the banks make it clear that they don’t live in the home, have never lived in the home, and have no idea about the home’s history, so you won’t be getting disclosures of any kind. The home is yours to take or leave just as it is.
Check out the neighborhood. The neighborhood that the home is in can tell you a lot about the potential value of the home. Are there lots of homes for sale in the neighborhood? Are the homes primarily rental properties or are they owner occupied? Are the homes and yards nicely kept or is the neighborhood falling into disrepair? The answers to all of these questions can give you a good clue about whether or not you will be getting a good deal if you are to purchase the foreclosed property.
Forget contingencies. In a normal sale there are all kinds of contingencies that you can write into your contract without worrying about potentially losing the deal. One of the most common is to make your offer contingent on the sale of your own home, but there are many others as well. In a foreclosure sale no contingencies are the way to go. The less reason you give the bank to reject your offer, the more likely you are to get the home.
Use cash. Or at the very least have all of your financing secured. Pre-approval does not necessarily mean that the financing will come through quickly enough in the foreclosure process. The less hassle you have to go through to get the money, the better it is. Cash is always the best option.
It’s all on you. Depending on the laws in the area of the foreclosure you may have a short window of time to have an inspection done before committing to closing. In this case, everything is riding on you. It is up to you to know what work needs to be done to the home and how much it is going to cost. Again, this goes back to the fact that there are no seller disclosures when dealing with a foreclosure. Hire a trusted inspector (consider having two inspectors look at the property) and follow-up by hiring any necessary specialty inspectors and/or contractors to give you as much information as possible before closing because uncovering potential problems is your responsibility alone when buying a foreclosed property.
Cooper Realty Associates are REO specialists in Sussex County. If you’re thinking of buying a foreclosed property, give us a call and put our expertise to work for you – 302-856-6434.