I would speak with your attorney. We normally write up that the credit is determined by what the lender will permit because not all banks allow the full 6%. I always tell clients that the number can change depending on the bank. Good luck.... more
Sounds like short sale is probably the best option. I am both a realtor and a landlord. I can tell you going a landlord from any distance is not going to be easy. As you say, the property needs to be maintained and, if the tenants fall behind in their payments, collecting will also be difficult.
A short sale will damage your friend's credit but 'destroy' may be too big a word. If she is current on the payments and continues to keep current until the home is sold the damage to her credit will be var less. Your credit score is damaged more so when you miss payments than when you short sell. She will lose the money she put into the home, yes, but she will be eligible to buy again in just two short years.
So, unless the rent would cover the mortgage payments and expenses, and unless she can find someone to help with maintenance and collection of rent, I would still think short selling would be a better option under the circumstances.... more
Despite all of the information out there these days for a buyer to become educated with, many are still "wowed" by updates. The initial viewing will tell if the buyer has future interest, and it is sometimes hard for buyers, no matter how savvy they may be, to look beyond dated kitchens and bathrooms. Can you take a middle ground and do some updates vs a complete redo? Painting is a short term "mess" vs new countertops, tile, etc. New hardware and inexpensive lighting updates to be had at many home improvement stores for your bathroom and kitchen and are a simple weekend project. Uncluttering and fresh paint make such a big difference! The other thing to look at is who is your competition? If you are truly in Squirrel Hill and your home is solid, you are in a demand area vs an area saturated with competition. If someone wants your area and you don't have many competing homes, then I would say you need to do less. Feel free to contact me off line if I can be of further assistance: email@example.com... more
Make sure it is spotlessly clean
Good Curb Appeal - Clean, Friendly and Welcoming
Clean Carpet or Polish Floors
Those are the easy things you can do and don't underestimate how much they can add to the value. From there just remember that Kitchens and Bathrooms sell homes, anything you do with them should improve your value.
Good Luck!... more
I grew up in Greenfield, my mother still lives there and I have been selling real estate since 1977. Please view my porifile and contact me if interested.
Depending on location and condition, there is always a market--even if the home is in bad shape, if priced right, some people are willing to take on a project.
You can reach me any time by cell if you have any further questions/comments @ 724-316-6914 or e-mail @ firstname.lastname@example.org
Elaine Bodnar... more
Marie if your home is listed with soemone, they would have to be the one to remove it form here. If your house is not for sale, and thre is fraud going on, please email email@example.com, and she can take care of you in case they do not see your post. good luck working it out.... more
Kathy, only your daughter can make that decision but this scenario doesn't sound good. Another concern is that
because of the lawsuit and from what appears to be a poorly funded association, it's not likely that potential buyers would find a lender willing to finance the condos. Limiting sales to cash buyers would have quite a negative impact on a condo community. If the lawsuit is settled and the association regains it's solvency perhaps values will begin to rise but you're right, it could take years.... more
I think I need more clarification, are you asking about the value of the lots or the value of the property, including the buildings? In order for the best valuation of the property you should ask an agent to do a comparative market analysis for you that looks at what other similar properties in your area have sold for, or have an appraisal done. I'd be happy to help if you want to give me a call.... more
Is the question, "Should the buyer consult an attorney before signing a purchase offer? Only if you are uncomfortable. My attorney friend says he would not buy a house without consulting an experienced real estate agent or broker.
Your agent should know when added legal advice is required.
San Antonio, TX... more
If my girlfriend went to the store and spent $500 she would tell me that she saved $80. Personally I see it as spending $500. So some people will view exactly the same situation completely differently. I know that when I shopped for my mortgage I thought I researched everythiong so skilfully. I later went to work for the guy that did my refinance and found out that I really didn't know anything at all.
I understand that the car has a certain minimum price where the salesman makes $200. He is trying hard to make more than that and offering a $8000 trade in is one of tyhe ploys to make you think that you are working the deal in your favoir and being a savvy shopper.
The difference with the buyer discounts is that people do not understand mortgages at all. They do not know of 321 buydowns or how points can help buy down the rate so when a seller of a home brings this "new" twist to the deal, it gives incentive to the potential buyer. If the wife wants the house but the husband is complaining about the price ( or vice versa) the discount can be the value that the spouse is looking for. It can provide that lower rate that now fits the budget. I think it is more effective than other discounts because you are also making the buyer aware of a product that could benefit them. At the end of the day they are really paying for it but the benefit to them may be a deal maker not a deal breaker.
Cornerstone Lending Inc
215 674 9059... more
In any transaction I have been involved in (thats alot) The buyer is usually the one who gets a survey if the seller cannot provide one. If you are the buyer I suggest you spend the extra money and get one WITH STAKES!!
If you are the seller this would be a courtesy and will cost you about 475.00
As an agent, I checked the multi-list for any trace of this property, and I can't find any evidence that it was recently listed or sold through a broker.
Next I checked the county web site, which shows no recent changes of ownership. But they update records only 2 times a month, so it might have been privately sold, without the deed transfer showing up yet.
Was this property being sold directly by an owner? If so, the way to find out if it sells, and to get the sale price, is to keep checking the county records.
Frances Earman... more
No, I am a motivated buyer. Motivated to find pre-bubble pricing and then to buy. When I find that pricing color me in another house almost immediately. Until then I wait.
I am glad I am not selling now. It would be very difficult to figure out a price or to get out without losing a lot of money. I know, not what most expected to find when they bought a house just a few years ago.... more