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All Locations : Nationwide Real Estate Advice

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A few minutes ago
Rich Reed answered:
Hi, Sue, you probably should have left the check with the escrow holder to give to the buyer at closing. You may want to provide the escrow holder with all of the details and a copy of the cashed check from your bank.

Some general advice, particularly for financed transactions: Any payments regarding the transaction should be properly disclosed to all parties and lenders and accurately reflected on the Closing Disclosure prior to close of escrow showing the payment as being made outside of escrow. The payment should be sufficiently described so all lenders and parties have explicit knowledge of to whom the payment was made and for what purpose. The disclosure should also be prepared with sufficient time to allow all lenders and parties to review it prior to close of escrow. Failure to properly disclose and report the payment could be possible lender fraud.

Consult with your agent, your broker, and your legal counsel!

I hope it all works out!
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A few minutes ago
Desilvaplus asked:
I moved in residential town home in desperation to my Kid school admission. The house was not furnished and was on rent for $2460/month. We made the move; but soon found that the house have…
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A few hours ago
Rich Reed answered:
I don't think the seller is precluded from renegotiating the mortgage. That could reduce the likelihood of the buyer successfully completing the short sale, however.
I wonder why you deposited earnest money before the seller delivered Short Sale Lenders' Consent. Buyers may have difficulty obtaining the return of their deposit in escrow, if a seller becomes noncommunicative during the short sale process.
Consult with your agent, your broker, and your attorney.
Hope this helps!
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A few hours ago
Ryan112ryan asked:
I'm currently in the process of finding some raw land, which in a few years, I'd like to build a home on. The area (Western NC) is rural, but growing.

I have heard nightmare…
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A few hours ago
Aimee Strode asked:
House is built on a slope. 4 bedrooms, full bathroom, a family room, and walk out enterance is upstairs. A foyer to a walkout entrance , open stair case, dinning room, four seasons room/second…
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A few hours ago
Mindego asked:
website. ...cont. When I closed the purchase in January, I asked the selling agent Charlie Brock to remove the pictures from MLS. He said he couldn't but that a listing labeled as "sold"…
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A few hours ago
Soknhary asked:
Im frustrated regardless of him being an emotional support dog and proof of document. Yet everywhere i go places will not call me back and make excuse
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A few hours ago
Priya Ma asked:
A few hours ago
Shirley asked:
A 2 bedroom, 2 bath condo in a small 4 building complex (55 plus community) in West Springfield, VA. Owner passed away last winter and when it first went on the market they asked $350K,…
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A few hours ago
Leonardatkins7855 answered:
Get with an Realtor like me , I can show you different areas to buy and lease out to potential tenants. Call me at 8327559259 lenard
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A few hours ago
Jasonshopsalot answered:
Sellers are normally hit up for 6% by Realtors as the going rate, Nationally. Same in Minnesota. Same in Oregon. Same in Houston. However, there are many companies that can do the Listing for you for MUCH LESS.

Some will list for as little as 1% to put your home in the Multiple Listing Service so all Agents and Buyers can look it up online and avoid feeling like they're taking their chances on some sketchy Seller doing a FSBO.

Listing Agents RARELY do Showings of the property for sale. The Buyer Agent usually does that. They just need the lockbox code in a timely fashion. THEY will want some Commission and you can offer whatever amount you like to make it compelling for them to bring a buyer to you.

If you need to be told what to ask for the property and what to take when an offer is made, then maybe you should pay 6% to a Listing Agent.

If you can make your own decisions, I'd ask them what, exactly, they DO for that money, because I find they have no idea how to make a Home Book with good photos, nor did they do anything Legally or otherwise that wasn't obvious.

IF you need help with the Contracts, the Listing Agent can do that for 1%, since they really don't DO hardly anything but look for Buyers and Sellers all day.

6% is absurd. Before Technology, it made sense to have someone who knew the area and had access to the information you needed to find the right place for you, or to get the word out that your house is for sale. That time is over. It's now verging on a scam.
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A few hours ago
Tasgardenangel asked:
I saved my home from foreclosure. Please remove it from your site. If you do not I will take legal action.
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A few hours ago
Kathy Burgreen answered:
For small loans (under $80,000.), you will need to go thru a bank. Mortgage lenders who contribute on real estate websites do not handle small loans because it costs them more money than they make. Lenders need to make a profit. Therefore, try your bank. ... more
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A few hours ago
Kathy Burgreen answered:
As a retired realtor, my first impression at your question is you must be a new agent. As a new agent / realtor, you need to understand that without a signed Buyers Agreement or any other contract means you DO NOT get paid!!! Explaining the process to buyers and explaining the Buyers Agreement is part of your job as a realtor. You cannot be shy about it. Realtors ARE pushy people and if you are not the type to be pushy, I would advise you to get a different job or career. You need to understand that realtors are salespeople - first and foremost. This means push, push, push. This is not an industry for shyness.

My best advice is to have the buyers meet you in the office and explain to them the meaning of the Buyers Agreement, why they need to sign it and the benefits to them and you. Most brokerages have written scripts to cover this. Ask your broker or Office Manager. Rehearse the script well and when saying it to the buyers, say it in your own words.
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A few hours ago
Sarah answered:
Don't buy an expensive house. You will regret it in the long run. Too many expenses with the house oil, heat, electric, lawn etc! Buy a condo. You can always rent them out
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A few hours ago
Jhen.nehj0718 asked:
A few hours ago
Kathy Burgreen answered:
This is NOT Trulia's or Zillow's fault. You can blame the realtors. The issue is realtors own the MLS systems which send listings to real estate websites like Trulia and Zillow. HOWEVER, realtors do NOT send all the information. They intentionally keep some of it off the websites. Examples: whether pets are allowed or not; HOA fees; property taxes (in some states); etc. The reason is realtors need people like you to call them for this information. During your phone call, it gives the agent the opportunity to convert you to a client. Since realtors are independent contractors (self employed with business expenses), they rely heavily on people calling them for the missing information. They are hoping to do business with you so they can make money.

Trulia and Zillow have no control over the listings. The listings are 100% controlled by the real estate agents. So from your question, if you want to get a list of rentals that allow pets, you will need to call a realtor. Sorry about that.
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A few hours ago
Kathy Burgreen answered:
Your title has a lien on it. Your buyers need a clean title (no liens). Therefore, the title company is correct. You need to pay off the $12,500. before your buyers can get a clean title. If you don't have the money, you can't sell the home. ... more
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A few hours ago
Kathy Burgreen answered:
Welcome to the ruthless world of real estate in NYC. I'm a retired realtor in Westchester County (just above the Bronx) and I was told that ALL real estate agents in NYC are ruthless, shrewd and will do anything in their power to make a deal whether it's legal or not. It's basically the Wild Wild West. So your agent is not the only one.

Part of the problem is the huge population. Unlike the rest of the country, with NYC's 9 million people, there are about 1 - 3 million always renting, buying or selling so this means agents don't have to care about their clients. There are so many people in their pipeline, it makes no difference whether agents are caring or not. To a NYC real estate agent, if one buyer or seller isn't happy, it takes about 5 minutes to find somebody else.
In the rest of the U.S., real estate agents actually have to work hard to find a buyer or seller. In NYC, that is not the case.

I'm sorry about your experiences, but just wanted to let you know that what you went thru is normal in NYC - and unfortunately, agents can get away with it.
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