Trends in Forecosures in Southern Maryland from an REO agent
By Phyllis Minik, Property Management
(Western Shore Realty, LLC)
I am a REO agent as well as specializing in Vacation Homes so i thought I would share some trends I am seeing with foreclosures in Southern Maryland. -Some banks are not willing to pay 50/50 of the transfers. This could affect your offer so be sure to ask if you are putting an offer in on a foreclosure. -Most of the properties I list have multiple offers on them if they are priced right. Even if it has been on the market for months. Be sure your buyer agent knows how to handle multiple offers or you could loose out. -Banks are trying to get alot of ernest money. Almost all of them counter offers on ernest money. -More cash offers are making it hard for the first time buyer to compete. -Investors are starting to get in the game and buying up properties. -It is becoming more difficult to ...
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