Investors With Cash Are Kings in Today's Market

Investors With Cash Are Kings in Today's Market

Some are calling this the best market for investors since real estate tanked in the early 1980s.

Investors, alone and in groups, are negotiating volume deals as they purchase whole subdivisions and bundles of 10 to 50 defaulted loans for pennies on the dollar.

"What we're seeing today dwarfs [the 1980s] by five or 10 times," says Bob Leonetti, president of SMI Funding, an Austin, Texas, company that originates and acquires private and conventional mortgages. "There are huge opportunities for investors."

"People who have cash positions now are going to do very well," says Central Florida real estate practitioner Mike Norvell of Developers Capital Realty in Leesburg, Fla. "It's just crazy the prices you can buy for right now for cash."

Source: Investor’s Business Daily, Kathleen Doler (07/07/08)

Loan Application

According to Real Estate Purchase Contract, one of the buyer's duties is to apply for a loan before loan application deadline:

What does it mean to apply for loan: following events should occur before the application deadline:

1. the application should be completed, signed and delivered to the leander
2. all loan application fees, if they apply, should be paid
3. Buyer should diligently work to obtain the Loan and provide any additional information which can be required.

Procedure if Loan Application is denied:

There are several scenarios, all of them depend of the calendar, in other words, did it happen before or after the loan denial deadline? /em>

Buyer receives written notice from the Lender that the Lender does not approve the loan ("A Notice of Loan Denial"), first of all, the Buyer should no later than 3 calendar days thereafter, provide a copy to the Seller.

Buyer or Seller may, within 3 calendar days after Seller's receipt of such notice, cancel this contract by providing written notice to the other party. It is the only clear reason for the Seller to cancel the agreement. There are other possible situations, but it is the only obvious one.

In the event of cancellation, what happens with deposit (Earnest Money)?

1. if the notice of loan denial was received by the Buyer no later than the loan denial deadlines referenced in deadline section, the deposit shall be returned to the Buyer. Please pay attention, if you are a seller, if the notice was received the the BUYER..., not seller...

2. If the notice was received after that date, the deposit shall be released to the seller, and seller agrees to accept it as seller's exlusive remedy, deposit as liquidated damages. Please pay attention, if you are a seller, if buyer last minutes decides to cancel the agreement, no matter what true reason is, if the buyer indicates that loan is denied (he may know people in loan indusry to ask him to write the loan denial notice), you will have a right only to keep a deposit because it is your exlusive remedy, in other words, you would not be able to sue.

3. The failure to cancel shall have no effect on thte Financing Condition set in previous section.

Tomorrow, I will review in more details what is DATE PLUS THREE DAYS WARNING NOTICE?

My Buyer's Offer

As you already know, I am a Realtor in Utah (Salt Lake City). My father is very interested in purchasing a property in California, and help me to make my salary. He asked me to send a message to you all saying that he will buy your client's property or your property for its appraised value if the seller buys a property, using me as a Realtor, for the same or greater appraised value as his or her property in any part of United States.

As you know, all, in many situations the appraised value is not the value regular buyer is willing to spend in today market. (it is rare today when buyer is willing to pay appraised value) Moreover, some of your clients or you simply want to move within the state or to some other state.

If you are interested, my dad will inspect the property and submit an offer.

Sincerely,

Marina Vialtsina
(Realtor)
801-649-5883
http://www.usarussiarealty.com/








У меня есть клиент и очень хороший знакомый, который попросил вставить это объявление... Он заинтересован инвестировать деньги-купить собственность в Америке. Он хочет купит собственность по оценичной цене (appraised value) если продавец заинтересован купить в свою очередь собственность по той же или выше (appraised)цене, используя мои сервисы как Риэлтора в любой точке Америки... Как вы понимаете, ситуации у людей бывают разные-если ваш дом на продаже, и продажа, к примеру еще не состоялась, а вам нужно переехать в другое место--- Это предложение может быть выходом из ситуации. Или иногда банки могут оценить дом выше, а у вас не находятся покупатели за эту цену по какой-либо причине...Если вы заинтересованы, позвоните, поговорим подробнее, Марина Въяльцина marinav30-собака-yahoo.com 801-649-5883 http://russianslc.com/r.php?http://www.usaRUSSIArealty.com