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All Locations : Nationwide Real Estate Advice

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Activity 492,129
A few minutes ago
Tollett111 asked:
Hi,

I am planning to take a mortgage to buy a home. This is my first mortgage. So, I don't know much about the mortgages. Can anyone suggest me the mortgage brokers offering the best…
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A few minutes ago
Annette Thompson answered:
there are no fences in the common area of a condominium. We are all in a small area. The common area is not an owner's back yard. It would be unfair to a dog to leave him locked inside a condo all day. The common area is not for dogs it is for the people who live there. It is the fiduciary duty of an association to make sure all owners are safe in the confined common area. ... more
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A few hours ago
christine asked:
Don't want to commute more than 3o mins. max to Tysons Corner ... I have 2 well-behaved dogs - Weimeraners.
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A few hours ago
Katie Blair asked:
I don't think she is really selling the place, her sister also lives here with me, and we got into a a heated argument and she threatened to get me kicked out during the fight. shes been…
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A few hours ago
Stellafrancis answered:
Before choose one for your work, seek more help from online services. They offer best guidelines and suggestions. It help to perform well.
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A few hours ago
Essyreviews123 answered:
You can meet an expert in online platform for getting best topic suggestion. Topic selection is the first and foremost thing to do in academic paper writing. Choose your topic wisely or you can ask someone's help. https://sites.google.com/site/bestessaywritingservicereview/ ... more
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A few hours ago
Joechrisbalderas answered:
https://www.trulia.com/rental/3194392234-47-Brandon-Hall-Dr-B-Destrehan-LA-70047?ecampaign=rental_lead_fr&eurl=www.trulia.com%2Frental%2F3194392234-47-Brandon-Hall-Dr-B-Destrehan-LA-70047 ... more
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A few hours ago
Brigittemeier answered:
While it is not always clear how appraisers get to the values they claim, the only value that is genuinely appraisable is the replacement value - i.e. the cost to rebuild the house from scratch on the same land. Insurance companies insure only replacement value, but not the land. A bank will lend up to the replacement value plus the value of the land. That usually works out to about 80% of the sales value. 'The reason is that the bank wants the house as collateral for the mortgage. Banks will not agree to a mortgage if the house has foundation or water in the basement problems unless the buyer will accept a larger downpayment, which acts as reassurance that the buyer will repair the defects.

Land value is generally better defined than house value. Land prices vary according to desirability of the location.

Tax assessed value is the market price without competition - i.e. what the house is worth if sold without the pressures from multiple buyers, shortage of houses for sale and other such factors that increase the market value. Tax assessed value is a good measure of the real value of the house. Sellers usually add 20% to this value plus the cost of the broker. This leaves the buyer a margin to negotiate if the house is old, is not the most desirable or needs repairs or has otherwise problems.

RE agents appear to use that formula of adding 20% to the tax assessed value plus their fees though they claim they based their assessment on comparable properties. But on what basis do they compare? Each house is different!

There are people who can be hired to assess the market value of a property. But often it is thrown out money because if there are multiple offers and the real market value is way lower than the list price, but some of the offers are near it, it doesn't matter what the house is worth, the owner will choose the highest offer.

A way to get an intuitive idea of what houses are worth is to look at a lot of offerings and compare how they look inside, how large a lot they are on, how old they are and location. It will show that there aren't any comparable houses to use to assess the value of a particular property. What is more important for the buyer to understand is what he/she can get for the money and choose accordingly.
... more
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A few hours ago
Christismoot asked:
Attorney over her affairs while he had power of attorney he sold some property of hers that was apraised at 400,000 he hired his exwife who is a realator. She sold the property and had met…
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A few hours ago
Kathy Burgreen answered:
You can't. Mobile homes are personal property - not real estate. They only qualify for a "chattel" loan which you can get thru a bank. Lenders only do loans for real estate. If you own the land underneath the mobile home, then lenders can give you a loan for the land. ... more
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A few hours ago
2utahhome answered:
Depends on on your Estate. In Utah the purchase contract has a financing deadline, unless this one is removed for what ever reason, you can back out of the contract any time before the deadline, whether the loan does not go through or if you didn't like the terms of the loan. I you pass the deadline on the contract and you back out then you lose your Earnest Money as liquidated damages to the seller. ... more
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A few hours ago
Kathy Burgreen answered:
Your lender lied to you. Many lenders will do pre approvals for buyers even BEFORE they start looking at homes. Realtors strongly urge buyers to get pre approved before they start the process. At this point, you need to visit some realtors and ask them to refer you to one of their lenders that will pre approve you.

The difference between a pre qualification and a pre approval is a pre qualification means the lender did not do a hard pull on your credit and verified your employment and income. A pre approval means the lender pulled your credit and verified your employment and income. Sellers and realtors want buyers to be pre approved because they don't want any surprises later on that the buyer has an accepted offer then later denied by the lender for a loan. This leaves the seller stranded and has to put their home back on the market. A lot of wasted time.
... more
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A few hours ago
Daniel answered:
Try Bizinsure.com. We sell e&o for real estate agents online.
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A few hours ago
Kathy Burgreen answered:
Trulia's phone number is given to "Premier Agents" who pay monthly advertising fees to Trulia and Zillow.

You will be better served if you can reply here with your question. There are plenty of realtors and other professionals who will be happy to help you. ... more
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A few hours ago
Kathy Burgreen answered:
You need to know that an offer is not accepted until a seller signs off on it. In the meantime, a seller can accept other offers and weigh them deciding which is the best offer. If you offered a lower price, then your offer would be rejected. If you are buying in a hot selling market, it would have been better for you to submit a full price offer the first time. ... more
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A few hours ago
Kathy Burgreen answered:
Buyers should not be paying a fee to their realtor. Realtors working with buyers are paid from the proceeds of a sale when a home is sold - by the seller. I am noticing that realtors are starting to charge fees to buyers to compensate then for expenses they already spent with other clients. To me this spells GREED. Tell your realtor that you refuse to pay the fee and to waive it. For realtors that refuse to work with buyers because they don't want to pay the fee deserve to have negative reviews written online. ... more
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A few hours ago
Kathy Burgreen answered:
You need to Google "FIRPTA" tax. This is a tax that foreigners pay when selling property in the U.S.
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