Property Condition
Bank owned properties are sold in “as-is” condition and often times bank owned properties are in disrepair. If it makes financial sense, some banks will make repairs prior to listing a property. Unlike most regular sales where the seller has intimate knowledge of the property, the bank has never lived in the home and has no past knowledge of major systems such as the roof, foundation, plumbing, wiring etc. Since a bank has obviously not lived in the home and does not have prior knowledge of the property, they are not required to provide buyers with any sort of property condition disclosure statement. Typically when banks sell a property they will not allow the buyer to negotiate on repairs; instead, banks will normally allow a…
“What is a short sale?” Well, we’re glad you asked. First off, it is NOT a foreclosure. A short sale is different from a foreclosure in that the owner is still controlling the sale, not the bank. The seller is putting their home up for less than they owe on their mortgage. The process can take awhile, but it can be an asset both to buyers and sellers in certain situations. Real bargains can be found in short sales for buyers, and sellers can minimize their losses on a property without foreclosing. We are committed to helping both buyers and sellers with the short sale process. We have experience with short sales, which is extremely important in getting through it all smoothly. We also know and can recommend real estate attorneys and title experts who are…
A three-bedroom, one-bathroom detached home available in Kensington, Maryland! 4002 Lawrence Avenue is a bank foreclosure and one of the lowest-priced homes in Kensington. While this house is in need of renovations, it has a great deal of potential and is located in one of Montgomery County’s most sought-after suburbs. 4002 Lawrence Avenue features central air conditioning and natural gas heat. It is perfect for someone looking for a bargain and willing to invest the time and money to help this property realize its value. The home is located close to Rock Creek Park, downtown Kensington, and the Westfield Wheaton Mall. The town of Kensington is known for “Antique Row” on Howard Avenue and its weekly Saturday farmers market. The home is minutes away from… 