Questions about Park West (Charleston, North Charleston: for sale, foreclosed, mortgages)

[MichaelNYC]

Originally Posted by Coobs22

hey michael, did you rent before buying?

Another Yankee (Brooklyn, NY) moving South to Charleston, with some questions please

It is ALL documented above... a 'short' read

Ok........... here it is to save you the time

We initially were going to rent for like 6 months... the usual people do
This is our 'last' move... famous last words I know

But when we were here as a family 3 yrs ago... we of course looked at homes and the neighborhoods we were interested in.......... then a short sale popped up... we went to see it and JUMPED.

Tossed out the idea to rent and JUMPED as I said............ negotiated a few days as we were ready to leave.. they were hesitant and my parting words were... I am getting on a plane in 2 days............ do not EVEN think to contact me after I leave............. my offer stands now and TODAY it is available, tomorrow it will end.

They accepted (of course all subject to the 2 banks involved) and we left with a contract.

Home was appraised at a 10% higher price immediately and they appraise low... we got lucky and consider ourselves very lucky with this home... I mean skip the price etc.... we love the layout, lot, views, etc etc... would have paid more but played hardball a lil and it worked.

BOA actually wound up turning us down........... wanted more and I said........ NOPE.
Take it or leave it !
They took it.

PS so in reply... we did not rent............ excuse my run on writing

[Coobs22]

sounds good =)
my wife and i were interested in short sales as well...ive heard the process can take anywhere from 6-9months for approval from bank.
I read your post btw in the past...love how you documented everything for people like me to see....its very helpful.

The process of moving is very stressful and time consuming so it really REALLY helps when people like yourself give input and get answers online for people like me to read about. Helps make a more informed decision. Obviously can't replace doing down and visiting a few times, etc...but u know what i mean.

[macalan]

Accufit - what did you mean - Belle Hall is really "close in" MP - not out in the sticks. Why did you feel you were "leaving MP?"

It's funny. We took a cruise our last night in MP, and there was a couple on the boat that lived in downtown Charleston. They were also originally from MA, so we struck up conversation. He told us that he teaches in one of the schools in PW, and one of his students was incredulous, and said one day to him - "You come all the way from THERE to come here to teach HERE?" LOL.

Robynn, yes we liked Belle Hall. It was a quick look, so we need to come back and see more. I love, love, love the shops across the street, and I like the location.

I also still really, really like Hamlet Square. I know the houses are close for some, but they are where we live also, so we're used to it. And I know about the closeness to 526 and potential noise. Still, it stole my heart...

Robynn, where is Pawley's for burgers? I LOVE a good burger. Got to add it to my list for next time out.

[accufitgolf]

Mathis Ferry Road and I526 area to me is traffic, tons of trucks, dirty from the trucks and stuff at the end of Mathias Ferry road, noisy from the trucks and I526, etc.

Newburyport is not Old Newbury. Lynn is not Lynnfield. North Andover is not Andover. Roxbury is not West Roxbury. Living on the Waltham side of Weston is not the same as living in Weston.

When directions to my house include a Waffle House as a landmark....I begin to ask questions about the locale. When directions to my house in Mount Pleasant do not include Rte 17....I question if it is in MTP......LOL

[cape_fisherman]

Originally Posted by accufitgolf

Mathis Ferry Road and I526 area to me is traffic, tons of trucks, dirty from the trucks and stuff at the end of Mathias Ferry road, noisy from the trucks and I526, etc.


When directions to my house include a Waffle House as a landmark....I begin to ask questions about the locale. When directions to my house in Mount Pleasant do not include Rte 17....I question if it is in MTP......LOL

I think you mean Clements Ferry.

We typically go Long Point from PW.

[MichaelNYC]

Originally Posted by Coobs22

sounds good =)
my wife and i were interested in short sales as well...ive heard the process can take anywhere from 6-9months for approval from bank.
I read your post btw in the past...love how you documented everything for people like me to see....its very helpful.

The process of moving is very stressful and time consuming so it really REALLY helps when people like yourself give input and get answers online for people like me to read about. Helps make a more informed decision. Obviously can't replace doing down and visiting a few times, etc...but u know what i mean.

Took BOA 9 months to finally look at it and then turn us down............ sheesh

I balked at a higher price they wanted.
I simply said... sell it to the people standing behind us !
There was no one behind us... they looked and looked............ but saw we were the ONLY offer and accepted.

NO IDEA why no one was interested ?
Perhaps no one saw the home ?

The idea of short sale puts some people off.. as you have NO idea if/when you have a sale or not.
The house was AS IS and that statement on the realtor sheets scares people off with a short sale or foreclosure.
We walked in and expected 'anything' !
It was in PRISTINE condition !!!!!!!!!!!!!!!!!!!!
NOTHING neglected or damaged or work that had to be done.

We painted as everyone does
New carpet as they had a dog and it smelled in places
Refinished the wooden floor to the finish we like.. and that was that.

New fridge, washer, dryer............ done

Got lucky

And to boot the house came with its own gator in the backyard........ a bonus we never expected
We have a lake in the back.......... has fish, egrets, other birds I do not know the names... and once Turkey Vultures when a dead fish popped up on the shore and.......... the gator.

[IsNull]

We tried a short sale on some property and the bank wouldn't even talk to us. Said our offer was absurd. 2 months later we found out they sold it for $15k less than our offer.

[macalan]

Yeah, short sales are tough, but nice when they work out.

We put an offer on a house up here about 5 years ago. Was a short sale. The "owner" of the house was a pediatric neurosurgeon who had done the "jingle mail" thing. Walked away from the house, moved to TX, and for over a year had not paid the mortgage. Go figure.

We saw the house, offered @10K less than asking, which was way over-priced, and the OWNER wouldn't accept.

A year later, the house was sold to someone else - at 60K less....

I never could figure out how a "homeowner" who was a year behind in their mortgage payments had any say at all in accepting/rejecting an offer. Absurd. BOA wasn't the best in handling short sales.

We heard from someone that worked there that things just sat and sat in piles on people's desk and no one addressed them.

[MichaelNYC]

Originally Posted by IsNull

We tried a short sale on some property and the bank wouldn't even talk to us. Said our offer was absurd. 2 months later we found out they sold it for $15k less than our offer.

Even when you walk away from a deal............

Never walk away........

Maintain interest............. maintain contact... let them at least know you are still around

Many No's turn into Yes's either after awhile or at the right time.. the right time for them

(not that I claim to know anything..... people who know me will attest to my lack of wisdom anytime)

*************

Short sale paperwork literally sits and sits........ work is piled up at lending institutions as well as people do not want to sign off on something that can come back them.. so they let it sit.
Same as people do not want to go to the Dr/Dentist (with a problem) though they know they will have to in the long run.......... but now they sit as workers sit on the folder.
Plus you sign off one folder.. you are 'rewarded' with another one

[accufitgolf]

Originally Posted by cape_fisherman

I think you mean Clements Ferry.

We typically go Long Point from PW.

Oops...my bad....I meant Long Point Road.

When I lived in Rivertowne (until 06/2011), I went Rte 41 to Clements Ferry Rd to I526 to go to North Charleston, the airport, West Ashley, I26W, etc. I went Rte 41 to Rte 17 to the bridge to go to downtown. Also used Rifle Range/Coleman or Mathis Ferry depending on traffic.

The horror show I was referring to is Long Point Rd. and I526.

Before HT opened at the entrance to Rivertowne, I always shopped at Publix in Park West. Loved Joey's Bag of Donuts also....LOL