On a scale of 1-10, with ten being "I will never, ever close on the sale of the property and I am willing to lose my earnest money and all construction deposits," what is your current score?
Tell that to your Realtor.
If you did not hire a Realtor, then finding help for your local, specific, hyper-unique, design and finish problem is entirely up to you and no impersonal, online forum like Trulia Voices will be able to address your problem...... more
It will depend how it is written, hopefully you had a buyer agent who looked out for your best interest, if not you may now need an attorney to review your contract and write a response to teh buidler. you may need teh attromey so that teh builder honors your contract on this or another lot.... more
There are many properties for sale in 30041, Originals, but without a link or address we cannot send you suitable listings. Please call, text or email if we can provide further assistance. Good Luck!
Very few banks offer Jumbo financing in that price range with only 10% down to clients who have easily verifiable income. My bank is one of only 3 that I know of. Depending on how your losses were claimed you may be fine, it’s hard to tell without looking at your tax returns. Depreciation can be added back in and shown as income for loan qualification purposes. Most lenders will view reinvestment as a business expense and therefor a loss, however there are some exceptions to this rule. My bank also offers a "bank statement" loan where we use 2 years of bank deposits rather than your tax returns to determine your income, this was designed specifically for the Self Employed borrower. We do require a 20% down payment for this product. I'd be happy to take a look at the specifics of your situation and see if we have a program that would help you achieve your specific financial goals.
You have to take into account how long you have been there, what you paid for it and when you bought it. A good appraisal will get you an idea of what is happening in your area. Generally, we are seeing percentage decreases any where from 5-15% depending on many factors- the number one being how many like homes in your areas have been foreclosed on or have been sold in distressed (short sale) status because those are real comps now. A good appraisal will let you know where you are.... more
Id be more than happy to help! Feel free to contact me directly for a thorough market analysis for this home or any other market info you may need.
Licensed Realtor Selling in GA and NJ
Better Homes and Gardens Real Estate Metrobrokers Atlanta
What is going to happen to the $5,000? It sounds like the buyer wants a 'seller's concession' of some sort so that he can sue the money for closing costs. That happens all the time and it's actually a good way of helping a buyer out. I would confirm with your realtor, though, that is the situation. If so, then they are absolutely correct and you have nothing to worry about.... more
Heather I would be happy to help you find the right financing. There are still 100% financing available in your zip code too. Call me directly to discuss at 4045838708. I make the whole process VERY EASY!... more
12 Questions to Ask When Choosing a Real Estate Agent
Make sure you choose a real estate agent who will provide top-notch service and meet your unique needs.
1.How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
2.What designations do you hold? Designations such as GRI and CRS — which require that agents take additional, specialized real estate training — are held by only about one-quarter of real estate practitioners.
3.How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
4.How many days did it take you to sell the average home? How did that compare to the overall market? The realtor you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
5.How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the realtor is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
6.What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your realtor is responsive.
7.Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your realtor should explain his or her agency relationship to you and describe the rights of each party.
8.Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because realtors are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
9.What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
10.What's your business philosophy? While there's no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
11.How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but it reflects your desires. Do you want updates twice a week or do you not want to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
12.Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this realtor again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the real estate agent.... more
There are too many unknowns in this situation. And when you use the word "legal" you should know that we are NOT attorneys and we can't give legal advice. You need to talk to your REALTOR and/or your ATTORNEY. We don't know enough about the situation.
But I'm curious....When you say the short sale approved by seller, who do you mean? The homeowner or the bank?? It's all up to the bank (lienholder). And if the appraisal came in high, then the contract will need to be renegotiated. Not sure why the listing agent wants to cancel. Again... what does your REALTOR say???... more
You need to read your purchase contract on reasons a seller can cancel. Usually, the buyer has a contingency for appraisal, not the seller. And that contingency is if the appraisal comes in too low. Also, since the buyer pays for the appraisal, the seller has no right to see the appraisal unless the buyer allows them to see it since they 'own' it (since they paid for it).
That property is still showing 'Active' on the listing service. Please let me know if you have questions and would like to schedule a time to see it. :)
Cindy Broeker, Realtor
Keller Williams Atlanta Partners... more
Another neighborhood that seems to fit your criteria would be Stonehaven Pointe, A Bowen built community loaded with young familes and amenites. It is much newer. You can choose from some great deals between new construction, resales and even a couple of move-in ready foreclosures. Here is a list of active homes for sale there.
If you happen to drop by the sales office tell Casey that Debbie & Deryk sent you. You should always have your own agent represent you and protect YOUR interests as a Buyer. Our Buyer representation services are free to you. We can save you money, time and make the whole homebuying process a lot smoother. Let us know if we can help.
The repercussions of the Seller backing out are probably not worth the potential litigation. Contracts do have specific guideliines. Regarding a second offer(back up) it is a viable document if the Buyer cannot obtain a Mortgage, the Appraisal presents problems, job loss, etc... more
I have not seen banks do much of anything in 5 days. Even if required to respond, that has nothing to do with the time it takes to close a transaction. I had a short sale a couple of months ago that was an all cash closing, and it took 4 months to get the deal closed. This is heavily dependent upon the lender and the processor.
Banks negotiate different than individual property owners. They have portfolios of properties they are managing, and their appetite for holding a property can vary daily based on what is happening on wall street, whether they are at month, quarter, or years end, and how much other property is moving off their books.
A few things to keep in mind with foreclosures:
1. It is typically a slow process. If you don't have time for a lengthy transaction, you are likely to be frustrated and may end up with a transaction that doesn't close. [note: I have done foreclosure deals in 30 days, but most take more like 90 days to complete - every situation is unique]
2. If it is a short sale, you are dealing with 2 other parties - the owner and the financial institution - more if there is more than one mortgage. Every party has to agree to get to a closing.
3. You need an agent you trust, that will represent you diligently, and that is detail oriented. One form filled out wrong could results in weeks of delay. If your agent hasn't done a foreclosure or short sale before, be sure their broker has, and that the broker is willing to provide a lot of support. The process is very important in these transactions.... more
I live in NC. I see you are from Atlanta area. I miss home. That is my hometown.
Anyway to answer your concerns. The only time an appraisal is a problem is when your chosen property does not appraise for the price you offered for it. You will be fine and the mortgage company will be pleased that you are going in with some free equity in your home. Congratulations! Donna Sutton, Sutton Realty Pro... more