Services

REO

Our office works directly with the lender/seller to ensure a smooth closing. We are equiped to handle both the seller and buyer side of the transaction. Usually the seller will offer discounts such as paying your owner title insurance if you choose to use the same title company as them. If the buyer chooses to use our office we will handle the process from start to finish.

REO Process

On some occasions the bank will accept the offer in 24 hours but the typical turn around time is 3-5 days. The Bank is closed over the weekend so you can expect to not receive a response on Saturday or Sunday
Any counter offers will from the Bank will be given to the listing agent to then relay to the bvuyers agent. The Bank has the right to accept or reject any offer that comes in so it's important to make the best offer.
The contract will then be provided with bank addendums attached to it. These are required to be executed in order to validate the contract. The bank addendums cannot be revised, they are required to be signed as is. It's very important that you carefully read through the whole addendum.
The bank will provide the closing date usually between 14-45 days out depending on the closing (cash deal vs finance). Please note that these closing dates can be extended as long as the bank approves the extension.
Choosing the title company is your next step. If you decide to go with the same title company that the seller is using the seller will usually provide a discount or pay for the owner's title insurance. Please inquiry about how our office can assist with this.
The Buyer has the right to inspect the property within the time frame as agreed upon in the contract of sale. All inspections must be done within this period. This includes termite, well, septic, etc. We will assist in setting up the inspections. The bank will not order or pay for any inspections, retests or repairs. Make sure to fully read the bank's addendum with regards to de-winterizing and utilites. Utilities may be on prior to your making an offer, while others may not be.

Things to know

Please note that the bank will most likely not make any repairs as the property is sold as-is.

Schedule the closing. Since the seller is the bank they will not be present at the closing table. The seller will review the closing disclosure prior to the big day and will provide approval.

Closing funds must be in the form of a wire. The bank/seller requires that all closing funds are received same day.

Residential

Choosing to buy a home is one of the biggest decisions you will make in your lifetime. It's important to use someone you trust. Our office is fully equiped with the latest state of the art technology to help find homes in Harford County, Baltimore County and Baltimore City.

We will assist with all of the following:

Arranging to visit the homes that you selected
Making an offer on your favorite property
Reviewing and executing the contract
Schedule home inspections
Choosing the title company is your next step. If you decide to go with the same title company that the seller is using the seller will usually provide a discount or pay for the owner's title insurance. Please inquiry about how our office can assist with this.
Coordinating the closing with the title company

Things to know

If you choose our title company to close with we will have title ordered and reviewed in house. Our title company will handle the closing from start to finish.

Schedule the closing and make sure we are available for the big day to help with any questions you may have

Commercial

North Sea Realty can assist in all aspects of a commercial closing from finding the ideal property, attorney negiotations, holding escrow funds, ordering title and completing the closing.

Commercial closings are business focused purchases. The property is transferred from one legal entity to another. These closings are free from the RESPA requirements which usually causes a lot of back and forth negiotations. Due to the greater sums of money more parties are involved in the closing process (seller, buyer, board members, assigned signors, attorneys, title, etc.). This can cause the closing process to lengthy.