Now the bank owns the property and very few banks are in the real estate business, so they must  do as much as possible to get rid of the property as quickly as possible.  Otherwise the expense of  maintaining the property and provding security becomes overwhelming.   As a need to get rid of the property, causes the bank to be willing to take in some cases less than what the property is actually worth.  This means an alert buyer can get the property at a very good price.

This is where we at All Pros Realty can be of valuable assistance to any home hunter who is willing to purchase a property that may need some tender loving care.  Of course the worst condition the property is in, the lower the price will be.  Sometimes we do best when we purchase the most run down property in the very best neighborhood.  This way once we bring the property back up to standards, it is worth much more than what we paid in the first place.
Now we move in and buy the property well below market value, and after rehab, we sell it at market value and keep a tidy little profit for  our clients.  We at All Pros Realty specialize in the sale of Government Repo and Bank Owned homes.

We can provide you with a customized list of all the Bank Owned homes in the area, and it will be tailored to the needs of each client. That way we spend our time sorting thru the tons of rehab properties and provide you with a list of only what meets your needs. This process can save you valuable time and expense.  The way we work, is we take your budget into consideration and match it up with your needs and tailor the huge list to a small workable list for you.

As the new homes coming on the market match your needs, we will be continually updating your list to make sure that you do not miss out on any of the best offers that might suit your needs.  Just think of all the time we save you that you would other wise need to spend your time sifting through pages and pages of homes and which most will not meet your specific needs.

The cost to your for our services, is absolutely “ZERO” the seller has agreed to pay for our services,  while at the same time agreeing that we may work directly for you and not the seller. That way there is no conflict of interest, since the listing agent will be working for the seller, you All Pros Foreclosure Specialist will be working directly for you.

Visit our website here for color photos of Foreclosed and Bank Owned homes or come into the office and sit down and let us show you what we can do for you.

Chesapeake-Bank-Owned

Norfolk-Bank-Owned

Virginia-Beach-Bank-Owned

Normally the reason we are requried to negotiate, is caused by the contract being riddled with what we call a contingency.  When your agent brings you a contract with a contingency then the  negotiation process begins.  First let me define what a contingency really is… it is basically a condition that has been added to the agreement that must be either agreed to or modfied by either party and then agreed to by both parties.. Confusing huh?  Well.. yes, but in the skillful hands of an experienced All Pros Realty agent it becomes a lot less complex.

Contingencies are very common in regard to real estate transactions. As a matter of fact contingencies are one of the most common reason that a contract fails to close.  A good negotiator knows that each party must feel that they have won something if the deal is expected to close.  Somtimes the contingency is minor, and sometimes it major.  When the parties are too far apart, the deal falls through.  All of our All Pros Realtors have had in depth training in the art of negotiation and if one of our experts cannot pull the deal throug then it was just not meant to be.

One of the more common contingencies that we see almost on a daily basis is when the purchase is contingent on the selling of the home that a buyer owns. In other words they want to buy our home, but will not be able to close until they have at least a solid contract on their home.  This is also one of the most difficult to solve. Asking the seller to tie up their home while there is no guarantee that the home will close.  The seller must be in very high need to sell to allow this sort of contingency.

Probably the second most common contingency is when the buyer adds that “A guarantee that they can walk away if the homes does not appraise for the offered price.  However sometimes the seller can then reduce the price to the appraised value if he so desires, additionally sometimes the negotiator can convince the buyer to pay half the difference and the seller to take half the difference and both go away happy.

IF you are looking for a home to buy or just want to be hand held thru the home buying process contact an expert at All Pros Realty by clicking here.

Additionally you can find lots of other color photos on our web by clicking here.

It is also acceptable to move a new home no the the mortgaged property but it is required that the proceeds from the sale of the previous location not be released until the properly inspected foundation is securely attached to the new foundation.

Some of the conversions of property include:

1. Single family property to two unit property (duplex).

2. Single family property to three unit (triplex).

3. Single family property to four unit (four plex).

4. Two unit property to four unit property (duplex to four plex).

But keep in mind you cannot exceed the maximum of four units and one of the units must be owner occupied.  At this time cooperatives are NOT eligible for the 203k loan program..

IF you are interested in learning more about the 203k program, or any of the other homes for sale in the Chesapeake, Norfolk, Virginia Beach, Suffolk, Portsmouth, Hampton and Newport News please call the experts at All Pros Realty.

To visit our website and view all homes for sale please click  here

In this case the lender (bank or mortgage company) may be willing to discount the loan balance due to a financial or economical hardship that prevents the current owner to make the normal payments that are due every month.

At anytime of the day, there is generally more than 150+ homes on the market and listed as a short sale. In many cases the buyer can get a real deal in the purchase of a short sale, but the disadvantage is that there is usually a major delay in closing most short sales. In many cases the short sale can take more than 30 days to close. In some cases it can exceed 6 months when major difficulties are uncovered.

If you have the time and patience, you can potentially make a real deal on a short sale.

Virginia Beach Real Estate Foreclosures for Under $200,000

Virginia Beach Real Estate Foreclosures for Under $300,000

In most cases, the bank will agree to a short sale when they believe that their losses will be less with a short sale than with a foreclosure.

All Short Sales are listed in the local MLS and I can show you and walk your through any short sale in the Hampton Roads area.

Before you make a big mistake in the purchase of a short sale or foreclosure get the specialized advice of an All Pros Realty Expert. We can keep you out of hot water.

At All Pros Realty, you will be in the best hands that you will ever find anywhere.  We strive to stay at the very top of our ladder.  Our knowledge, trustworthiness, experience, and empathy far exceeds that of most local or for that matter Nationwide agents. 

Our broker stresses, honesty, integrity and empathy for all agents.

Probably one of the most confusing and stressful times of your life will be when you are in the process of selling your home  or purchasing another one.  We at All Pros Realty make every effort to make sure that you home buying or selling experience is as painless as possible.  The sale or purchase of a new home is a real challenge, and if your home happens to be a short sale or pre-foreclosure then the challenge is even more difficult.  However relax, our All Pros Realty team will look out for you and take care of every detail.  You can rest assured that they stress level will be much lower since our agents have been thru this scenario time and time again.  This experience level allows us to forsee and work around most any problem that comes our way.

Our agents are specialized in the Short sale and foreclosure process and can work thru any problems that occur.  So if you are interested in looking at new properties or selling your old one, visit us here

If a homeowner owes more on the home than it apprasises for, it is defined as a strategic default.  Every year, thousands of owners went into strategic default leaving the mortgage company in dire straits.  This frequent occurance has cause more than one lender to fold under the pressure.

The mortgage company is now the proud owner of another albatross, meaing a property that has no regular revenue coming in.   To add to the problem, now the mortgage company not only has zero income from this property, they also must now maintain it.  Many more of the lenders are now coming after the defaulted seller than ever before.

In July of this year, Fannie Mae has said that if you walk away from your loan, they will not guarantee you another loan for at least 7 years. Additionally in many cases Fannie May will come after you for the loss.   Further Fannie May has offered to work with a buyer after only a two year period when the homeowner has agreed to a short sale or given up the deed in lieu of a foreclosure.

In some hardship cases where the owner can prove that the problem was not of his own making, Fannie May will assist you in re-financing your loan.  This is another area that All pros Realtor can help you thru some difficult times. 

Please contact All Pros Realty with all you home buying needs and feel free to browse all the pages of our web here.

Chesapeake Homes For Sale

We can handle all the details for you for less than you think. Give us a call and be pleasantly surprised.

Services Provided by Us include:

• monthly rents collections

• we take care of all the requests for repairs and maintenance

• we routinely take care of the payment for required maintenance work or any repairs

• you will love our montly report to you itemizing all expenses and income

• we assist with year-end accounting statements that may be reqired for your tax accountant

• thorough and complete property inspections will be accomplished by us during lease to ensure proper maintenance

• tenant notices and evictions will no longer be your problem

•  final inspection and closing statement are our specialty when a tenant moves in or out

• Finding a tenant will be – a fee of 1 month’s rent

• we will expose your property to thousands of real estate professionals so you should not be vacant for any extended period.

• extensive internet advertising will be done in order to attract qualified tenants in short order

• we do thoruough credit checks and do professional tenant screening

• we take care of all the details of rental agreement negotiation

our Maintenance Services normally run only $55/service call (in most cases this will be paid by renter)

• for any job over $100 we get 3 qualified bids

• all repair work will be inspected by us

• we take care of all maintenance billing

If You require additional infomation please click this link and fill in the form and we’ll get back to your right away.

However if you need a Virginia Beach rental for yourself, click here and if you would like to purchase a Virginia Beach home click  here
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One of the most frequent questions that I have received since I became a realtor, is Where can I find fixer-uppers?

Fixer uppers can be found in almost every possible neighborhood. From the elite communities, to the Ghetto. It is not unusual to find an uncared for property in some of the most influential communities.

When a property is poorly maintained or not maintained at all, it becomes a blight on the entire neighborhood. Because of the condition of the property, its value is reduced much lower than it would be if it was in tip top condition.

All Pros Realty has specialized in Fixer uppers for many years. YOu want to be very careful when shopping for these deteriorated properties, as some time they come home to bite you. Let assure you that one of your very best tools in your toolbox, is that of a highly skilled All Pros Realtor who has been thru this same scenario many times. This experience is
what will give you the edge when ready to make an offer on a property.

A well trained All Pros Realtor can work up a market analysis that will take into consideration all the work that needs to be done so that you can offer a price well under the market value. The market analysis will detail in writing what the average house in the neighborhood is worth when it is in tip top shape.

One of the things that we have learned from experience is that the very best results come when we purchase the most run down house in one of the best neighborhoods at a price well below the current market.

Now let’s don’t get carried away and start looking at run down houses that need major structural repairs. Warning! do not buy a house with known structural damage without the advice of a good structural engineer.

Once we find that run down house in a nice neighborhood, we must carefully evaluate to decide if the costs needed to return it to its full potential are within our budget.

But first lets get out there on the road and find a home that we can sink our teeth into. Of the many places to look, is the mls which is short for the Multiple Listing System which has all the homes for sale in the entire area.

This MLS will include not only the great shape homes, but all of the HUD and VA repos and government owned homes.

Occasionally a government home may be in good condition, but they are few and far between.

IF you would like to check out the bank Repos first look here.

However if you want to cut your teeth on the short sale arena, then begin here.

One thing I will be doing is giving you detailed training on the short sale as this can give you some great buys, but in some cases can get sticky and become a long drawn out process. But in any case come on in to our website and look around.

When you get ready to poke your nose into a few give us a call at All Pros Realty and one of our foreclosure specialist will walk your thru the entire procedure step by step.

Virginia has  a history that is a major part of life here in Hampton Roads.  There is just soooo…  much natural beauty every where.  You will find in excess of 18,000 acres of parks and wildlife refuges, and the fantastic ocean runs for more than 35 miles.  The bay beaches are just more than you can imagine. Virginia Beach alone has so much area to explore that you would run out of  life before you could take in all the sights and scenes that are available to you.  If you are lucky enough to live here and get  to explore the pleasure of and the relaxing in the seclusion of your  home then your have been truly blessed.  If you can afford the luxury homes in Virginia Beach, and you are fortunate enough to have All Pros Realty agent to represent you in regard to the  purchasing of your dream home  then your day has been made as Clint Eastwood might say.

Spend some time watching the slide show above and when you are ready click here and be on your way to an exciting journey of finding your dream home.  But don’t be put out, if you cannot afford the luxury home there are plenty of  more economical homes so click here for more economical homes that might suit your fancy

All Pros Realty is here to serve yourevery need,no matter whether you are a $100k buyer or a hundred million buyer.