You can ask for whatever you want. Have them get an estimate for how much it would be to put in central vac or ask for a credit just like you would if you found any other defect.
say the stove didn't work and was included. same thing. Even if it broke and they didn't know it wasn't working when they listed it ...doesn't mean they leave it there for you to get rid of and buy a new one.... more
It is a very competitive market, and the highest price is not always the answer but it's the total package including the agent that gets the deal done. I have won 2 out of 3 recent offers for my buyers and all were multiple bidding situations. Often times the seller will look at the agent and the agents ability to keep the deal together throughout the process. That's what I do and because of the amount of deals I do, I am able to win most if the buyer meets the criteria. If you are not signed into a buyers agent now please feel free to call respectfully Deb... more
I think the biggest factor that I would encourage you to consider is weighing the cost added to your home and the potential re-sale value with the long term picture in mind. If you have a home that is workable and can accomodate an addition I would encourage you to do it. I see so many home owners that are happy with their LOCATION and once they move they move they just don't think it compares to their previous home.
In regards to short sales, many default management companies have revised their processes making the value analysis on the home and borrower much more intensive to approve the short sale. If the home is vacant it is often times very difficult to reach or even track the past owner. You can tell how far along the home is within the foreclosure process by a couple different methods between the foreclosing law office and registry of deeds.
If I can be of any assistance feel free to reach out!
Principal Broker, Mayflower Realty Group
Direct Line: 978-604-2491... more
Hi, As a North Andover home owner/resident and agent here in town I keep a very close eye on the North Andover market including the pre foreclosures, potential short sales, died in lieu possibilities and bank owned as well.
It's very common to see a home enter pre foreclosure status with the home owner later being able to either work out a loan modification or bring their loan current.
It is also very common to see a home in pre foreclosure status for 1, 2, 3 even 5 years before the home owner is forced to either list it for sale or the bank actually forecloses.
In the past when a home buyer has come to me with interest in a specific property that is off the market in this situation I approach the home owner to request access for a showing. Some times the situation works out for the home buyer and other times the home seller prefers to allow the home to be foreclosed rather than attempt to sell.
If you have specific questions about the property or it's status feel free to contact me and I can do some initial research for you including a market evaluation to determine the most likely value today based on the available information so that you have a better idea of whether or not you want to pursue a conversation with the seller. If they are actually going to sell and need to sell in a short sale situation I have an excellent resource for a short sale negotiator who works on North Andover properties as well.
Best of luck!
North Andover/Andover... more
The contract you have with the owner if any should spell out your rights. You need to have an attorney review any documents you have and advise you on how you can proceed. Assignments and or 2nd deals can be common in some types of purchases but often bank owned/REO property and especially government owned properties have restrictions on profits from a sale of their properties within a certain period, otherwise a future buyer may have issues with their finacing. Why would their financing want to pay 2x the costs of your improvements? This is why you'll need to have an attorney review your options with you.
Massachusetts Law MGL Chapter 183A Chapter 6 http://www.malegislature.gov/Laws/GeneralLaws/PartII/TitleI/Chapter183A/Section6 basically state that any unpaid fees to the condo association becomes a "super lien" and supercedes any mortgages held by the owner. It also give the association the right to foreclose and recoup not only deliquent monies but recoup any costs in obtaining that money. There are very strict quidlines to be followed one of which notifies mortgagees and allows them to pay the arrearages to avoid foreclosure.
So yes a condo association can foreclose and quite frankly sometimes they do!... more
No. That is one of the big reasons to try a short sale. In a short sale, the borrower/seller has a little more control over what the home is sold for. They can reject offers that are too low. However, they risk the chance of not getting an offer, and the home going to foreclosure, if they try to get an offer above fair market value. It is always wise to start at fair market value and then reduce the price every other week or so, until an offer is received. That way the seller knows they did everything they could to mitigate the loss and the amount of the deficiency. Once the bank owns it, they can sell it for whatever they want. They may list it well below fair market value, just to get if off their books, and there is nothing the foreclosed upon homeowner can do about it. If you live in a state that allows deficiency judgments after foreclosure, you could be on the hook for whatever that loss is.... more
If you are thinking of buying into a condo or community that has Home owner rules and regulations, then it is time for you to call the Home Owner Association and introduce yourself, then ask about all pet rules, Many of these associations have pet allowances but you have to ask about specific pets. It is not unusual to see that they will accept dogs up to a certain size, or the amount of small pets you may have. Since inside cats rarely bark, the attention is more towards dogs in their wording, but remember ask and be sure because assuming can be wrong and bring fines and pesky warnings!... more
Great question! I love to see associations that allow pets as I know buyers love this option and it adds VALUE for resale. The least friendly would be no pets allowed or only with approval from association trustees. The most friendly allow dogs of any size with the stipulation that if the dog becomes a menace the association make as the owner to remove the animal. Always check the rules and by-laws in regards to pet policies before falling in love or making an offer if this is very important to you.
In general, newer developments are allowing some pets although many are restricted to smaller breeds.
Good Luck!... more
What document did he sign? It was probably permission to pull a credit report. I definitely would ask friends and family for recommendations of a loan officer. If they are not performing now, what are they going to be like during crunch time?... more