It depends on whether or not you're selling. I think there's a better case for using neutral colors when you're selling so that you can appeal to the largest number of people. That being said, if you aren't selling and decide to paint with bold colors, you might get sick of it quickly and be stuck with them for a while. So I guess there's also a case to be made for painting neutral colors, even if you're planning on living in the house for a while. http://www.msservices-inc.com... more
You can most certainly receive conventional financing on a tenant occupied home. If you plan on doing FHA or VA is when you may run into issues. Even so, it may depend - talk to a mortgage person for specifics. The rules change frequently these days and their may be exceptions if there's X amount of time on the lease. I don't know for sure.
Nor would you have to wait until the lease expires to agree on price. You agree now and transfer title (close) at a later date. Whether or not the seller would be willing to do that is anyone's guess! Financing would be an entirely different issue. If you can go conventional and delay occupancy, then you could just get current rates.
If the seller is truly motivated then there could be a way to come to terms agreeable to you both. What that solution is will depend - the devil is in the details as they say!
However, the fact that the house sat on the market for a significant length of time would suggest that the seller isn't as motivated as you might reasonably be inclined to think. Most of the time, when houses sit forever its because the seller couldn't/wouldn't accept a price any buyer was willing to pay. In the real estate business, we call that unmotivated! ;) Of course circumstances do change, so they may be more motivated now than they were a year ago to be sure.
Unless it was FSBO that entire time - then perhaps it was more a marketing issue. Tough to say without details!
I'll say one thing - if they are serious about selling, letting you in to see a tenant occupied property isn't (or rather shouldn't be!) an issue. Assuming they did it right, if the house is currently for sale then access by buyers, inspectors etc would be written into the lease. People list and sell tenant occupied homes all the time.
In any case, the only way to know for sure is to talk to the owner. If you'd like me to do that for you, let me know.
In terms of inspections, are you aware that any single repair that costs over $1500 is automatic grounds for purchase contract cancellation? Of course if there are 20 little things that add up to more than that - yeah, you're still obligated.... more
Yes, but only if you are willing to sacrifice an extra hour to commute to work, or, if you work from home, the feel of belonging to a community - I personally love areas like Delmar and Saratoga Springs, which have a very high "Walk Score", as does the nicer portions of downtown Albany - but that's going to cost you an extra $250 - $600 per month. Also, because the catch-all of security once known as "investing in real estate" - AKA owning your own home - is now and forever will be a false sense of security, as the cost of owning a home - including the phantom or shadow costs like roof replacement and repair, regular maintenance and reasonable updates to keep your home relatively energy-efficient, modern, and in good condition (windows, water heaters, low-flow showerheads and toilets and new pipes and weatherproofing or replacement decking, mold inspection and mold-retardant everything, keeping your HVAC system clean and running smoothly) all adds up to an expensive proposition that carries NO GUARANTEE of your ever recouping your expenses when you sell the house - in fact; all over the Capitol Area, even in the nicer suburbs like Ballston Spa, housing prices have been on the decline ever since the bottom fell out of the housing market in the early 2000s and will never, ever be the a "good investment" in the way we have traditionally been taught to understand: I believe Trulia estimates between 5% - 12% just over the past couple of years, and this is technically AFTER the recession. Owning your own home is not a safety net - it's a liability. The popularity of rent-to -own programs ONLY SERVES TO HIGHLIGHT how far homeowners are haaving to go to just break even when seling their houses. There's no middle class with good credit and and a sizeable chunk of money to put down from their savings, and banks aren't lending it to anyone but the wealthy. So homeowneers are turning to exploitative programs (for both renters and owners) in the hopes that they won;t have to sell their home at a loss of 12% - and that's not adjusting for inflation or "shadow/phantom" costs. There's NO SECURITY in owning a home, and unless you are flipping real estate in a knowledgeable way using money that isn't yours (this happens a lot more than you would believe), real estate is a crappy investment. The idea of of the American Dream, a phrase coined by none other than Fannie May in the mid-1900s - when we DID have a middle class, and the average family could afford to live in a home that was a good investment - is now and forever an antiquated notion...
An expensive apartment for which you are not ultimately responsible when the price drops by another 12% in five years is a better investment than buying a home or renting-to-own: the one reason to buy a house is because you love it so much and don't care wht it costs to live there or maintain it. Houses are the new boats. No one ever made money from investing in a boat, but they might have had the time of their lives going fishing every weekend, in which case the money was well-spent.... more
Rent to own is really not a good idea, therefore consider fixing whatever is preventing you from purchasing outright. Rent to own can be risky and one could stand to lose a bit of money, it favors the owner; therefore inform yourself well in advance of your search, and consider consulting with an attorney who specializes in real estate before considering the idea and or before signing any agreement. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright, or simply continue renting until a purchase can be made.... more
You're very wise to recognize this scam. Agents in this Q&A forum do not have the authority to deal with an issue like this. However, I will pass this along to my account representative. I'm sure he knows to whom to send this for action.
Emerald Estates Realty, Inc.
Palos Heights, IL 60463
Have you talked to some roofing contractors? I know that some contractors don't even repair slate. There's a city building in my town that has a slate roof, and it hasn't been repaired for decades. I'm assuming it's because nobody in my area knows how to do it. http://www.slateroofingrepair.com... more
Understand that ANYONE can post a rental. Trulia is only displaying 3rd party info, and there are ways for scammers to post fake listings on other websites which then get mirrored on trulia, zillow, realtor, etx.. When a deal seems too good to be true, it is.. ALWAYS verify EVERYTHING you see online with a local Realtor. Realtors adhere to a strict code of ethics which offers you consumer protection and piece of mind. Flag the listings and email email@example.com Browse the agent directory to find a well reviewed local Realtor.... more
I realize that this post is from a long time ago, However the entire area has done so well! I see that the post was originally from Guilderland which is such a wonderful area! However I feel there are deals all around the capital district... so, its not a area, its our whole region!... more
As an agent but also a veteran I have experience with dealing with VA loans. You def. want to deal with a mortgage company that deals with vets all the time and knows their va paperwork inside and out. I highly suggest contacting penfed or even navy fed. USAA is also a great option for mortgages.... more
I've been trying to get a real estate attorney to help me for the longest time. My biggest issue is that I've been looking in the wrong places. To be honest I actually don't know where I should be going for an attorney. Where did you go to find your real estate attorney?