WILMOTH Blogs

Realtors Should Think Twice Before Giving Access Information To Their Clients!

Through the years, case after case has occurred where we found a buyer unaccompanied by a Realtor in one of our listings.  This practice is so ingrained that many investors believe it is acceptable.  An investor has an agent they promise to write offers through if the agent will just provide them with access information […]

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How Do I Get Ink On The Agreement?

OK, silly headline.  I am writing about a pretty unsophisticated topic here, but wanted to pass along some tips and a little bit of information on how we get signatures from owners who we can't meet face to face.  In fact, because so much of our communication is electronic, even owners we could meet seem to […]

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Credit Use After You Have A Contract To Purchase

We are just getting our first taste of how the Fannie Mae Loan Quality Initiative, implemented June 1, may screw up closings with uninformed buyers.  This initiative stems from a  lender letter dated February 26, 2010. The letter noted that, during the past three years, the need had been highlighted "for an improved approach for working with […]

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The Mystery Of Credit Scores and Default

A very interesting article was pointed out to me yesterday.  Published at CNNMoney.com, there is a run down of how defaulting on your mortgage is going to affect your credit score.  With the government encouraging homeowners to go for short sales or deed in lieu programs, one of the rarely talked about paths to these […]

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As The World Turns

The words we use.  The labels we associate with actions.  Like most industries, in the default business we have a number of  unique acronyms and labels.  Today I made note of how some of them either do not make sense or are changing. When I was a young credit analyst at First National Bank in […]

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How to Prepare To Make An Offer On a Corporate-Owned REO Property

If you are preparing to write an offer on a corporate-owned REO property (foreclosure) there are certain unwritten rules a buyer and their agent need to prepare to follow.  No doubt,, there will continue to be agents who will ignore the advise given and submit their offers in a way they believe is right.  To […]

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The Best Financing For Your REO Offer

It really has become an important part of the offer process....what is the financing the proposed purchaser wants to use?  Certain lower priced offers are accepted just because their financing is considered better.  Better generally means more likely to close.  One of the realities of bank foreclosures..leave the emotion at the door.  This is why […]

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Four Clues Why A Corporate-Owned Property Offer Was Rejected

Lets explore one of the more common questions buyers agents have on corporate-owned property ...why was my offer not accepted?  Unfortunately, the answer often lies in what the buyer's agent did not do correctly. Here are a few of the more common reasons offers are rejected.

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Does The Bank Care About Your Offer?

Do you fear that the bank (or any corporate seller) is ignoring your offer.  Buyers and their agents jump to this conclusion because they have not heard a response for the offer they submitted.  They are accustomed to 24 hour turnaround on offers made in the conventional home sales world.

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Foreclosures For Sale Usually Now Bring Multiple Offers, Cash Buyers

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