|
|
MADISON ALABAMA, HUNTSVILLE ALABAMA
HOMES FOR SALE
| |
|
|
| | MADISON ALABAMA, HUNTSVILLE ALABAMA REAL ESTATE AGENT
I am very familiar with the Northern Alabama area and work hard providing buyer and seller representation of Homes for sale in Northern Alabama, Madison, Huntsville, Harvest, Hazel Green, Athens, Toney, Monrovia, and The Village Of Providence Alabama | |
|
Nick T Pappas
AT HOMES REALTY GROUP
475 PROVIDENCE MAIN STREET, SUITE 302
HUNTSVILLE, ALABAMA 35806
(256) 230-5933 Office
Email: Nick@NickTPappas.com
 | |
|
Call or email me about any of these currently available properties.
|
| Looking for Current News & Information Visit Our Madison and Huntsville Alabama Blog
SELLERS!
Have a home for sale? If you live in Madison Alabama, Huntsville Alabama, or anywhere else in Northern Alabama, and are planning to place your home for sale in the next few months, this FREE service is designed to help establish your home's current market value. Simply choose Market Analysis and fill out the requested information. I will use comparable sold listings to help you calculate the fair market value of your home.
BUYERS!
Automatically receive personalized MLS listings by e-mail for homes for sale in Madison Alabama, Huntsville Alabama or all of Northern Alabama. Early each morning I will search the local MLS and find the homes for sale that match your criteria and notify you immediately with the latest listing information!! Simply choose Dream Home Finder and fill in the requested information. Or, search for yourself at Search For Homes.
What a buyer needs to know
Buying Foreclosure Properties And Rights Of Redemption
Rights of Redemption is a topic I've had to explain more often than not these days especially because of all the foreclosure properties on the market. Rights of Redemption are and well should be of particular interest to anyone considering the purchase of a foreclosed home either as primary residence or investment property.
Generally, there are two established types of redemption rights and vary by state. Equitable right of redemption refers to the foreclosed individuals right to redeem his property before the foreclosure sale. In order to redeem the property the owner usually has to make up any payments in arrears plus any associated costs and generally the loan is reinstated. In some states the entire loan balance needs to be paid off.
The second redemption right is called Statutory Right of Redemption. This right of the foreclosed owners poses the biggest problem to a future buyer. State's that provide for statutory right of redemption vary in the length of the redemption period. From weeks and up to a year. That is; each state has a specified time up to a year after a foreclosure that the foreclosed owner may redeem their property. However, because the foreclosed owner has to come up with the payment of the loan, lost interest, legal fees and other costs incurred by the lender, plus the new owners have to be paid a percentage on their investment into the property...former owners rarely exercise their redemption rights...but it does happen. A way to ease some of the stress of buying a foreclosed property is to purchase the redemption rights from the owner. I've heard of owners selling their redemption rights for as little as a few hundred dollars...better to get something. Many times the seller will not cooperate or can't be found. Also, some lenders may insist on a redemption bond securing the property and protecting themselves. Alabam is still a Statutory Right of Redemption state, but there has been talk of eliminating that option of the foreclosed homeowner, however, the law still remains on the book.
The purchaser of a foreclosed property needs to be aware of this...and remember the clock starts ticking on the day of foreclosure. Another thing to remember is that should the former owner exercise their rights of redemption, you as a buyer of the foreclosed property living in the home will only be reimbursed for repairs or upgrades you made that are considered necessary and reasonable. Don't expect to be compensated for granite counter tops if laminate is reasonable and considered the norm for the area. There are many things to be aware of if you are considering the purchase of a foreclosed property and your agent can get you this information. If you don't have an agent yet, give me a call and I'd be glad to help answer your questions.
As always, if you have any questions about your specific situation or would like to discuss how you may benefit from this program, please call or email me. I'll be happy to sit down with you.
I specialize in representing my clients in the purchases and sales of single-family residences within the cities of Madison Alabama, Huntsville Alabama, and all of Northern Alabama. I keep current of all transactions in these areas, and I'm also very knowledgeable with the local schools.
Personal
I really love time spent working in real estate and that leaves me little time for other things, but when I get a chance for a little R & R, I like traveling, I'm currently a black belt in a Martial Art known as Aikido, tennis, golf and motorcycling. | |
|
Each Office is Independently Owned and Operated.
Madison,Huntsville,Providence,Harvest,Monrovia,Hazel Green,Athens,Hampton Cove,Meridianville,Toney,New Market,Gurley,Owens Crossroads, Lacey Springs
Real Estate Websites by iHOUSEweb, Inc. ®
|
|
