Answers by The Josh Rumble Team

If this is from a mortgage default. The mortgage company has the 1st position lien. When it officially goes into foreclosure, and is sold. The mortgage company has to at least bid the amount that is owed on the property in order to be allowed to sell the property, and charge off the difference. So in this situation the Mortgage company will bid up to the owed amount to guarantee the charge off difference. Then they will sell it for less than that amount. So the bank (mortgage company) can sell it for 60K and charge off the other 90K. Whoever buys it will not be responsible for any difference. If this is a tax sale that is a different story.

A house sitting vacant for 25 years with a collapsed roof and broken windows is a serious project, but that alone doesn’t tell you whether it’s a bad investment. The answer depends on what you pay, what it will *actually* cost to restore, and whether the finished property supports the return you need. The first audit should be of your own capabilities. Can you manage a project of this size? Do you have the contractors, cash reserves, and time to handle problems you can’t see yet? Investors sometimes estimate the repairs carefully but overestimate what they can personally take on. I’d get a thorough inspection, including the structure, water damage, and the closed-off second floor, before putting firm numbers on it. Then calculate your **true holding costs**: financing, insurance, taxes, utilities, security, and the cost of delays. Those expenses are easy to underestimate and can erase a projected profit. The more work and uncertainty a property carries, the higher the potential return should be. If the numbers still work with realistic repair costs, holding costs, and a contingency, it may be a good investment. If they only work when everything goes perfectly, I’d pass.

Great question, and thank you for asking! One important distinction with a VA loan is the difference between the buyer’s home inspection and the VA appraisal. The VA appraisal is primarily used to establish the property’s value and determine whether the home meets the VA’s Minimum Property Requirements (MPRs). The appraiser is looking for conditions that could affect the property’s safety, soundness, or sanitation—not performing the same type of comprehensive inspection a home inspector would. If the VA appraisal flags an item as a required repair, that condition will generally need to be corrected and cleared before the lender can fund the VA loan. So even though the chimney cracks and sump pump were repaired and documented during the previous transaction, the new VA buyer will typically have a new appraisal for their loan. What matters for financing is what the new appraisal identifies and what the lender requires to be satisfied. The buyer’s decision to perform only electrical and water inspections is a separate issue from the VA appraisal and lender requirements. Thanks again for the question! NXCEL Realty Helping North Alabama buyers and sellers understand the process from contract to closing.

I understand wanting to be accommodating, but as a real estate professional, I generally advise sellers not to allow buyers possession before closing. Until the transaction actually closes, it’s still the seller’s property and responsibility. A hold-harmless agreement may address some risk, but it doesn’t eliminate every potential issue. What happens if someone gets injured, property is damaged, or—worst case—the closing is delayed or doesn’t happen after the buyers have moved belongings in? The upside is simply being helpful to the buyers. The downside could create a much bigger problem for the seller. Sometimes the most professional answer isn’t the most convenient one. I’d recommend waiting until the closing is complete and possession legally transfers.

I use to think that avoiding rollouts on homes around any holiday was a good idea, then I started to pattern our CRM inquiries around the holiday days. What I found was people have extra time off around any holiday. This means they have more down time for things like browsing homes online. I would not hesitate to list it where you had maximum exposure through the holiday weekend. Josh Rumble NXCEL Realty

As a real estate broker, I’d recommend having the conversation directly with your agent—not through spouses or friends. There’s also a bigger issue here. When helping a homeowner buy another property, one of the first questions a good buyer’s agent should ask is, “What’s the plan for your current home?” Selling it, keeping it, timing, equity and financing are all pieces of the same real estate puzzle. If you reached the accepted-offer stage without a clear conversation and plan for your existing home, that’s a sign the discovery and planning process may not have been handled thoroughly. You’re not obligated to hire someone simply because you’ve worked with them before. Selling your home is a major financial decision. Choose the agent you believe is best qualified to handle it.

Fellow Alabamian here. Most insurance companies carry a product designed for this exact application. We do lots of flips and we use a Builders risk policy. I would ask your carrier if they have a policy that is tailored to remodeling like what we use.

Fellow Alabamian here, A Mortgage company is the avenue you want to try and go if that is a option in your area. They offer more programs and in general better rates. The part most people miss is how many people are involved in this process. The more local you can keep the Lender the more acclimated they are to the problems to look for and avoid in your area.

I wrote a Blog about some of the questions you should look at asking your potential next listing agent. I will drop the link in here. hope that helps. https://nxcelrealty.com/geo-marking-real-estate-listings-in-2026/

Fellow Alabamian here lol. The first step is to find an agent who will come give you a Home Evaluation. Let me clarify what a Home evaluation is. Some people think that is a fancy word for pressure listing appointment. That is Not how the good ones do it I promise you. The Job of an agent doing a home evaluation is to identify anything that will cost you money. That could mean making sure that the home will qualify for the most popular loan programs. That also means giving you sound advice on property condition issues. The recommendations should fit your situation. If you have the Time, Money and Means to make repairs that will net you more money then that may be the route best taken. If those things do not make sense in your situation then that needs to be explained and addressed also. I say all that to say Find a good agent to walk you through addressing all those factors

Mortgages are tricky. They seem straight forward, but they are anything but that. A lender or Mortgage advisor is where you start. With one exemption There are many programs that have conditions. That will be one of the questions the loan officer will ask. What is the condition of the home. Not only do you have to qualify for the program the home has to as well. So having a good understanding of what condition the home is in is very important. This can accomplish two things. 1. eliminate wasted time and money. 2. expedite the process. The most challenging thing when purchasing a off market property is the unexpected cost associated with the close of the property. The disagreement on who is responsible for those cost. Only 3% of for sale by owner contracts close with the same terms originally negotiated between the buyer and seller. Having the right program to fit the property condition is a vital part of that. Hope that helps

Laura, There are many more options than you may realize in your area. Assets will sometimes stand alone for a loan. Hard money lenders to get the property in good shape to either sell or refinance. The first step before you do anything is to Meet with a mortgage advisor and let them put you on the path to traditional financing when the rehab is done if you plan to stay there. I can introduce you to one of the mortgage advisors with our Firm if you would like to discuss what the next step is.