01843 : Questions & Answers

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George Silva, Real Estate Pro in Lawrence, MA
George Silva answered:
I am considering buying a house on auction. What should I take into consideration? How does the process differ from a regular sale? any concerns?
Home auctions differ from regular home sale purchases

Bidder needs to bring the stated amount of money required to bid on the home

Winning bidder will have 30 days to close on th ... more
0 votes Share Flag Sat Feb 1, 2014 Home Buying in 01843
Christine Mo…, Real Estate Pro in Wilbraham, MA
Christine Moran Realtor/Notary answered:
What are the monthly condo fees for this property please?
Fees usually include Master Insurance,Security,Swimming Pool,Laundry Facilities,Exterior Maintenance,Road Maintenance,Landscaping,Snow Removal,Playground,Recreational Facilities,Exercis ... more
0 votes Share Flag Wed Jun 19, 2013 Home Buying in 01843
Jim Driscoll, Real Estate Pro in Lynnfield, MA
Jim Driscoll answered:
If my Mortgage rate is 3.375...an APR of 4.34 too high?? Also if the mortgage company does the appraisal and switch could the same appraisal be used?
The apr seems high as compared to the rate. Normally the appraisals are not transferable unless the loan is a govt FHA or VA loan
1 vote Share Flag Thu Apr 4, 2013 Home Buying in 01843
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
House listed with 3.5 bathrooms but only has 3 bathrooms. what should i do in regards to the price?
You should be able to find comps in Lawrence that have 7 bedrooms and 3 baths vs 3.5 baths.
That should point you in the right direction.


(Please note: when you choose an answer a ... more
2 votes Share Flag Wed Apr 3, 2013 Home Buying in 01843
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
House that i made an offer on a two family house in lawrence, used to have to have a pool but doesnt anymore... should seller reassess it?
Hi Hector,
You can search the internet for info about a Tax Abatement.
This is what a reduction in the tax bill is called.
You have to go through specific steps with specific time co ... more
0 votes Share Flag Wed Apr 3, 2013 Home Buying in 01843
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
Do sellers usually work with the buyer when the house is appraised at a much lower price than the selling price?
I have had deals go both ways - to closing and into oblivion.
The factors are: the amount of difference in the value of the appraisal and the agreement.
The amount that the buyer trul ... more
1 vote Share Flag Wed Apr 3, 2013 Home Buying in 01843
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
House has been inspected. for the issues that it has, is it better to have the seller discount the price of the house? or have him fix it?
I usually suggest getting a credit equal to the estimates for the repairs and then the buyer can have the work done and also have the warranty.


(Please note: when you choose an ans ... more
0 votes Share Flag Wed Apr 3, 2013 Home Buying in 01843
Josh Barnett, Real Estate Pro in Oklahoma City, OK
Josh Barnett answered:
Buying a multifamily house, is it good to keep the tenants?
Sounds like you have found a problematic tenant, next property or get in, buy it, and evict.
0 votes Share Flag Thu Mar 21, 2013 Home Buying in 01843
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
how to get pmi waived?
Hi hector h,
My experience says:
If this is for an existing loan, you need to have the equity and be able to prove it with an appraisal.
If it is for a new loan, you still need the e ... more
0 votes Share Flag Wed Mar 20, 2013 Home Buying in 01843
Steve S, Home Buyer in Massachusetts
Steve S answered:
how can i get a apprasial on my home wirh out paying for it?
Just to clarify some comments on this thread:

- tax assessments have NO correlation to market value.

- Realtors DO NOT value property like appraisers do. Appraisers are licensed ... more
0 votes Share Flag Mon Mar 5, 2012 In My Neighborhood in 01843
Kevin Vitali, Real Estate Pro in 01876
Kevin Vitali answered:
If I cant buy a house by myself and need my sister so we can buy it together, how does the tax credit work?
My guess is if you can prove you pay all of the mortgage and shes not deducting any of it, that you can take the entire deduction. I definitely would not do anything with out checking ... more
0 votes Share Flag Thu Dec 16, 2010 Home Buying in 01843
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