Thank you for your interest in one of our listings.  This property is bank owned and is very different from a normal listing.  Please read the following frequently asked questions for insight on how to proceed.

FOR SHOWINGS AND AVAILABILITY PLEASE CALL THE APPOINTMENT LINE

Q.               What is your fax number and email address?

A.        Fax:  763-633-0512        Email:   info@avalarmn.com

Q.        Is it true that because this is a bank owned property it can purchased for pennies on the dollar?

A.        No, this is absolutely false.  Just like any other seller, the list price is what they want for the property.  With most properties there are PMI companies, and bank investors involved that will not allow the bank to sell the property for very much bellow appraised value.  The mortgage insurer, bank, and bank investors are well aware of a property’s value and condition.  In addition to Automated Valuation Systems now available, they usually have several appraisals and/or CMA’s completed and that is how the Seller arrived at the list price.

Q.         Are there any disclosures for this property?

A.         No, the property was acquired through foreclosure.  The seller and seller’s broker have no prior knowledge of the property and it is sold as-is.  They will require a waiver of  disclosure which is attached to the PA instructions.

Q.         Can you just run a verbal offer by the seller?

A.         No verbal offers will be considered or responded to.  Everything must be in writing for the seller to consider.

Q.         We are submitting an offer.  How long before we hear anything back?

A.         Response time is usually 24 hours, but because this is a corporate owned property a committee may have to meet to review the offer.  This can cause response time to vary from 1 to 14 days.  The listing agent will contact you the moment we receive a response.  Seller only operates during normal business hours and will not respond on weekends or holidays.  Offers received at these times will be submitted on the next business day.

Q.         How do we submit an offer?

A.         Follow the instructions in the listing supplement and be sure to read them carefully.  Incomplete offers will not be submitted.  Contact your agent or buyer’s representative or the listing agent.

Q.         Why was our offer rejected with no counteroffer?

A.         The seller maintains a large portfolio of properties all around the country and is negotiating hundreds of properties at a time.  The seller often rejects offers with no counteroffer.  If your offer was rejected and you still have interest in the property, submit a new offer.

Q.         Will the seller accept an offer contingent on the sale of a home?