Commissions are always negotiable between you and your agent, there are no set standards; if two agents are involved in the transaction the fee is shared; choose your agent with care and not by commission alone.... more
Hi, I saw your question has gone unanswered for a long time. There are a number of factors that determine value, including the nature of the land, location, and zoning options available. 53 acres off of 191st in Westfield (zoned Ag) sold for $1.4M in June. I see that there are 24 acres available on 193rd St, listed for $1.2M.
Let me know if I can help you find more information on this investment!
Most people use the internet to complete their due diligence, then when the time comes, I would ask your realtor if he/she has someone that is reliable and can get the job done.
I always refer 3 reputable mortgage people to my clients that I know can get the best rates and communicate effectively to get the loan closed. Your Realtor would be a good barometer of the local mortgage reps.... more
Currently we do not offer ActiveH as a status. We have about six different contigencies for after an offer has been accepted but it is not ready to close. The most common one is ActiveB. The seller has an offer but will take backup offers up to closing. I hope this helps!... more
The federal Protecting Tenants at Foreclosure ACT of 2009 provided that bona fide tenants who entered into a lease agreement before the foreclosure case was filed against the leased property are entitled to stay in the home until the end of the lease term, unless the purchaser of the property at foreclosure intends to use it as their primary residence - then they may termite the lease agreement with a 90 day notice.
The PTFA of 2009 also stated that all bona fide tenants with oral leases, month to month tenants and those entering into a lease agreement after a foreclosure case was filed are entitled to 90 days notice to vacate before they may be evicted from the property.
New clarification has been made regarding the definition of the term "notice of foreclosure" in the original legislation. The Dodd-Frank Act now defines the date of a notice of foreclosure as "the date on which complete title to a property is transferred to a successor entity or person as a result of an order of a court or pursuant to provisions in a mortgage, deed of trust or security deed."
According to legal sources, this means that tenants are now presumed to be protected by PFTA as long as they entered into the bona fide lease or tenancy before the new certificate of title was issued. Therefore, the "immediate successor of interest" (usually the bank) is required to honor the terms of the lease or tenancy as stated above.
The D-F act also extended the PTFA legislation's original expiration date of 12/31/2012 another 2 years to 12/31/2014.
If the property is in foreclosure but not yet foreclosed upon, I would suggest looking up the owner's name in the Clerk of Court records, find out the name of the attorney's office that is handling the foreclosure and notify them that you are a tenant in the property.
Also...things like architectural style is a factor. Perhaps all the houses look too much alike? Or they're of a style that's too dated. Lots of reasons to not like a neighborhood which have nothing to do with diversity.... more
I have personally seen this house 2x and had a client that was very interested in buying it. It's a great house for the money, but I don't think you will get it for less than 165k as that is dirt cheap for the size of the house with almost a full unfinished basement. There are a couple of concerns we had that I could talk to you about if you were interested. The guy living there is a heavy smoker, but I think you could get that smell out as I have had that problem remediated before. FYI...less than 20% of all Short Sales are successful because of the long time frames and then bank's unwillingness to negotiate.... more
You can try to negotiate the price, but a builder who is planning on continuing to build in the subdivision will not negotiate price. The reason is if you are buying a 500k property for 450k, the new appraisal and comp standard for that plan is now 450k and the builder will never see the 500k level again. We are handcuffed by the rules set forth by our government and cannot have a sale! (Thank Obama) If we want to sweeten the â€œdealâ€ we basically have to â€œhide the moneyâ€ aka upgrades from the appraiser and the lenders. Items which can be upgraded since it is much harder to determine value are flooring, electrical fixtures, upgraded paint, better insulation and better hvac equipment. We cannot lower the price, give away free sq. footage or add a garage when we do this we are having a going out of business sale in this subdivision since we cannot recreate the product for 450k and stay in business.
Picking a custom home builder is a lot like picking a realtorÂ®; you should interview several builders before making a decision. Do not solely rely on a referral from an agent! Do the work yourself and interview several. Hereâ€™s a short check list of questions to ask:
1) Ask for current client referrals, 3 should be no problem & follow up with each regarding quality of the home and how well the builder did in regard to warranty work after the sale.
2) Ask if the builder is willing to do a cost plus contract this will save you money if the builder is ethical and doesnâ€™t try to steal.
3) If you are obtaining financing ask about construction perm loans, these are one time closing loans and usually save the customer about 2,000 and may also have a tax benefit for you. It also allows you to see all the bills and control all the money.
4) Talk with the builders bank make sure the builder has the resources to complete the project
5) Do a basic background check on the builder look for items such as liens, bankruptcies, lawsuits different company names they are an officer in that are now insolvent and in the same industry.
6) Check with the local home builders association for a list of builders in the area
7) Energy cost are going up and the trend will continue pick an Energy Star home builder and have the home certified as an energy star home this will save you money over the long term, add quality to your home and help the resale down the road. For an energy star home expect to add 2-3% to the price of the home.
8) Ask to see a written copy of the home builders warranty program.
9) CONTRACTS- usually not a big deal and all 3 types work well the question is getting the best deal for you. The 3 types are: RealtorÂ® provided (these protect the interest of the agents & brokers), builder provided (these protect the interest of the builder and usually provide more detail in regard to dispute resolution) home owner provided (these are drawn up by your attorney and favor you in the event a dispute arises) many times a builder will want to use their contracts, itâ€™s usually fine just make sure your real estate attorney reviews the document before you sign.
10) Have fun!