Your purchase agreement should have a clause that addresses this. In most ps agreements it staes the seller should keep insurance on teh property to close, if there is damage up to a certain amount seller must fix and over a certain amount the buyer has teh right to have seller fix, get a credit for theft/damage or back out. you should nbot only have your agent assist you but may want to have an attorney review your contract,... more
I'm confused. The best way that your Realtor can preserve his reputation is by getting you answers.
REO's and Short-Sales are notoriously clumsy and time-consuming. So it's not uncommon to have issues such as those you're experiencing. I can't explain what's happening with your transaction... but be aware that these sort of things DO happen with REO purchases... that's one of the reasons that REO's are such good prices, because they need to do something to entice buyers, as many buyers are too afraid of the process.
The "good" is you can get a decent price. The "bad" is you have to wade through this horrible process. Hang in there, and press your Realtor to obtain answers for you. If they have trouble, you might want to go over his head to his managing broker and see if they can get you some answers.
Jane. I'd suggest you talk to your agent and if needed an attorney. I know nothing about your particular situation. The agreement of sale for new construction often allows for delays. New construction has its benefits and drawbacks. I waited over 3 years for mine.... more
If you are looking at RealtyTrac ads--keep in mind that RealtyTrac's information is not always accurate and oftentimes misleading--you could be looking at a lis pendens property--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties. Again any local agent can help you--contact any realty office(s) and inquire.... more
Hey stressed, so did she give details as to what the problem was? Broker, are you referring to lender or the listing agent? Occasionally me & my clients have run into properties they want to purchase, but, because I'm not an agent in their direct territory, I've had listing agents play games & not return my offer until I get the broker involved.
If your referring to the lender, move on, they are a dime a dozen... more
Some home inspectors will go back to re-inspect after the repairs have been made by the seller. Some charge a small fee while others offer this service as part of their follow up service. I think it would be wise to ask your first inspector if he/she offers this service.... more
That is not something that one can answer without specific info on the home itself, the area, how long the property has been on the market, what the particular sellers motivation is and what the sellers equity is in the home. There is no general rule of thumb that you can start at say...10% less than asking or so forth.
You should use always work with a Realtor to run comps and tell you what the homes market value is based on that homes condition and location. These are the only true items that will tell you for sure what a home is actually worth and where to start your bidding.
Please contact me if you would like more information.
Coldwell Banker Preferred
223-225 Market Street
Philadelphia PA 19106
Cell: 215.680.5998... more