I would not say that it is common however, if the time from accepted offer to close is a tight window, you may need to request an extension especially if there are some unforseen circumstances. Your best bet is to have your financing pretty well locked up before you start the process. This way you will not go down to the wire in getting your commitment from the bank. Neither buyer of seller wants that stress especially if seller is trying to arrange plans of their own.... more
Depends on the relationship you have with the agent. (I am assuming you are talking about a real estate agent) If they are a buyer's agent, no! They owe you confidentiality and loyalty.
If they are a facilitator, then almost anything goes.
If it is the seller you are talking about then there is no confidentiality.
In the case of the seller or facilitator, while not illegal, I find it unethical.
Buyer's as a side note: Please, please, take the time to understand agency relationships. More buyers are less than satisfied because they do not understand the relationship they have with their agent.... more
I've appraised homes in eight different counties or so. Here's what I've found. When prices are going up, assessed value will be lower than the market value. When prices are going down, assessed value will be higher than the market value. So, to summarize. Assessed values will usually follow the market value. That said, I've seen cases when this is not true. Another point, sometimes, each county will assess their property a bit different. Some counties are extremely close to market value, while others are off by more. So it just depends.... more
Hi there- I am a builder and licensed mortgage officer. Generally, I think you may have some trouble with the FHA appraisal with this.
I would think it is well worth maybe $1000 total to add a 6 foot electric baseboard strip on its own T-stat in each BR. May need it for financing, but in any event any good buyer's home inspector or even the buyer themselves would question this anyhow. Its not a great system or condition for the potential buyer.
If you need anything, please let me know. Good luck,
Ken L.... more
The home is 852 square feet and sits on a fairly nice size lot. It has the following disclosure: Site area reflects annexation of approximately 3350 sf rectangular strip to abutter ... This sounds like - without knowing 100% - that the lot includes 3300+ square feet of an abutting property (you would need to find out if that is something legally owned or if there are easements). The property sits on a highly trafficked street which decreases the value (might be one of the reasons the property has been on the market for 230 days) but is close to the beach/harbor which is nice.
Overall seems the property was over priced (for the soft market) to begin with and is now slowly dropping down into a proper price range. Hard to give any more advice without at least interior shots which the sellers agent has not posted. According to the MLS the tax was assessed at $2834 in 2007.