Mike Hughes

"100% Satisfaction Guaranteed (or my commission back)"

I'm a:	Real Estate Professional
Company:	RE/MAX
Location:	Arlington Belmont Lexington Lincoln Newton Somerville Waltham Watertown Weston View all locations...
Phone:	(800) 332-2830

14 Answers
6 First Answers
5 Useful Answers

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Bentley College Graduate

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Mike Hughes's Questions (0)

Mike Hughes's Answers (14)

We're about to buy a house, closing is 3 weeks, I just found out there's a broken window. It's a short sale,

Asked Mon Aug 4 2008, 22:32 by Mike M - Malden - Home Buying - 13 answers

Mike Hughes answered:

Good question.
This is a legal problem ... ask your attorney about it. The "final walkthrough" which usually occurs up to 24 hrs. before the closing is designed to ID problems like this. You may need to have adjustments made (financially) at the closing to resolve this. Ask the attorney how to proceed ... you definately would not want to miss a buying opportunity due to a broken window. Do some offensive work and get three quotes for this type of repair.
Good luck,
Mike - Tue Aug 5 2008, 03:49

Question removed

Asked Sat Aug 2 2008, 06:38 by Kaitlin Volpe - Lowell - Home Buying - 4 answers

Mike Hughes answered:

Greetings,
If you feel that your agent has been helpful to this point, and he or she simply has other obligations, as a curtsey you should ask him or her for a referral to another agent. This will benefit both of you and it is the ethical thing to do.
Best regards,
Mike - Sat Aug 2 2008, 06:58

REO question? My mortgage broker told me that an REO is assessed at the current market level. So the list

Asked Tue Jul 29 2008, 17:31 by Jerry - 01852 - Home Buying - 7 answers

Mike Hughes answered:

Jerry,
It's definately possible to offer less and pay less. Remember who your mortgage broker works for ... the banks. I'd recommend working with an agent on on any purchase ... especially a foreclosure/ REO. Most importantly, be prepared to play the hurry-up and wait game.
Good luck,
Mike - Tue Jul 29 2008, 17:59

enter your question... I can't seem to find my listing MLSPIN#70582287;IT IS A CONDO AT 10 Museum

Asked Wed Jul 23 2008, 07:31 by Marilyn L. S… - 02141 - Using Trulia - 2 answers

Mike Hughes answered:

It's there ... don't you have access to the MLS? It looks like you are a broker. - Wed Jul 23 2008, 08:59

Are there any resources for _equity share_ in MA?

Asked Tue Jul 15 2008, 05:17 by Carlos - Somerville - Home Buying - 1 answer

Mike Hughes answered:

Hi Carlos,
I believe that this would be ownership as "tenancy in common" with a predetermined sale arrangement between the two parties. I would say that this always occurs with unmarried people ... except in your example, there is a plan to divest one party after a certain time period. Also, one party's primary objective is investment. I would contact a MA real estate attorney ... he/ she should have no problem setting this up. Note, you'll likely need to have both parties on the mortgage to make this an easy process. Please let us know how you proceed.
Good luck,
Mike - Tue Jul 15 2008, 05:57

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