With so many bank-owned homes on the market, some home buyers are wondering about the differences between buying bank owned vs. a regular home. And why wouldn't a buyer be tempted to buy a bank-owned home? The prices are attractive; plus, buyers are constantly hearing that banks are desperate to give...

Many sellers automatically assume that they have to be delinquent to do a short sale. I've heard agents express the belief as well -- that short sales are granted only to sellers who are delinquent. Not only that, but they believe the property has to be in foreclosure. That's not necessarily true. Even...

The problem with getting a bad credit mortgage is it's expensive. The only people making loans to people with bad credit are the guys who are charging an arm and a leg for the mortgage. They can get away with it because as long as they follow state usury laws and people are willing to take their money,...

Buyers don't often think about putting in a backup offer. I suspect it's the fear of the unknown, and buyers probably think it's not worth their time. Another reason could be because a backup offer is not a sure deal so agents discourage them as well. Agents like to close transactions because that's...

After all these years of short sales, there are still buyer's agents who ask if the seller is willing to take less than the advertised short sale price. Not only is a listing agent prohibited from answering that question due to her fiduciary relationship with the seller, but it's a stupid question....

In order to reduce expenses, some cash-strapped home buyers are teaming up with a friend to buy a home together as tenants in common instead of buying as a single person. Personally, I think most single people are better off trying to qualify for a home on their own and taking on a roommate in a rental...

I get calls from a lot of underwater sellers who ask about buying a new home before selling a short sale. It's a perfectly reasonable question. Sellers want to know if they should buy a home while their credit is still good and before they do a short sale. Seems to make sense to a lot of people. But...

You can't put off offer acceptance or rejection. I realize that sellers would prefer to have the luxury of a little bit of time to think about an offer and ponder its significance. The amount of money a seller nets can make a huge difference and has a bearing on future plans. It's a big deal to sell...

Buyers tend to lean toward checking out foreclosures for one reason and one reason only, and that is to buy a cheap foreclosure. Because it's the cheap price on that foreclosure that makes up for the hassle of dealing with the bank, the asset manager, the confusing bank addendums and the foreclosure...

If you can't sell your home, it might be a good time to think about whether it's smart to rent out a house. If you ask an agent, he or she might try to talk you out of it. That's because most agents are not in the property management business. So, if they don't sell your house, they won't make any...