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All Locations : Nationwide Real Estate Advice

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A few minutes ago
Kathy Burgreen answered:
No. Motor homes / mobile homes are considered "Personal Property" - not real estate. If you own the land underneath, then it is real estate and you can legally deduct property taxes and interest on a mortgage. Currently, you cannot deduct property taxes or interest on your IRS 1040. ... more
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A few minutes ago
Kathy Burgreen answered:
No. Registering for an account is free. You can also sell your home for free on Zillow and Trulia. Zillow and Trulia make money by charging realtors to advertise on their websites.
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A few minutes ago
Kathy Burgreen answered:
I'm a retired NY realtor and still talk to lenders. What you want to do is ILLEGAL! It's mortgage fraud and NO lender will lose their license for this. Allow me to explain:

If the current owners need cash to buy their next home, their only option is to sell their home at a higher price OR buy a cheaper home that they can afford OR stay put until the market improves. If you are located in upstate NY, I know these options are not good because buyers will not pay high prices outside of the New York City area and the housing market is not improving as fast as it should. Therefore, the current owners realistic option is to buy a cheaper home that they can afford and sell their current home for whatever price buyers will pay.

The issue of "purchasing a partial ownership" cannot be done because if the current owners have a balance on their mortgage, their lender OWNS the house until that mortgage is paid off. Their lender gave them a loan to buy the house because the house is collateral for the loan. Therefore, if the owners were to default on their mortgage loan, the lenders have the legal authority to take the home by foreclosure and sell it. That means if you purchased a partial ownership and the lender foreclosed on the home, you will have nothing and you will have lost $200,000.! NEVER buy real estate unless you own it 100% and receive the title or deed.

Lenders cannot give you a home equity loan unless you have the title or deed and you own it 100%. The home will have to appraise at a higher price than what you paid for it. If it does not appraise, you do not get an equity loan. Also, there are closing costs and fees to getting an equity loan. It's not free.
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A few minutes ago
Kamjam211 answered:
You need to submit an offer at the price you consider to be fair value for the property. Therefore, if you lose it means you should have no regrets because the sale price is above your estimate of fair value. ... more
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A few minutes ago
Kamjam211 answered:
I would hypothesize that most homeowners wouldn't be down to pay $250/hr upfront when there's so much uncertainty as to how long it will take to sell a property.

Despite all the complaints about 6%, etc. paying nothing upfront and having someone bear all the risk of investing his/her time sounds like a pretty good deal for the seller! ... more
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A few minutes ago
Robin Clemons asked:
A few hours ago
Kathy Burgreen answered:
Please clarify your question. I'm confused what you are asking.
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A few hours ago
Kathy Burgreen answered:
As a retired realtor, this is a tough question because you need to learn the hidden agenda of realtors. Any licensed realtor will tell you "now is a great time to sell" because you are paying them a commission fee = a paycheck to the realtor. Realtors will never tell you to wait 6 months, 1 year or even 3 years to sell because that means you are not paying a commission and that realtor is not getting paid.

Therefore, the better approach is to have a realtor tell you what similar homes to yours are selling for in your neighborhood and make sure to tell that realtor you have NO intention of selling now. Then wait several months and have the same realtor give you an update on the market. Wait several more months and another update. Now you will have the market trends for similar homes to yours in your neighborhood.

By the way, it takes less than 5 minutes for a realtor to give you comparables to your home for market trends. They just need to type in the information in the MLS and within a few minutes you will have your printout.
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A few hours ago
Kathy Burgreen answered:
Why would you buy a home with a business attached to it on the ground floor? Yes, you will need business owner's insurance because this is not an attached residential home. Homeowners insurance is for residential properties - not attached to a business. If you do not own the liquor store, it will be difficult to sell your home in the future. Buyers will need to buy the store + the home otherwise you won't find it easy to just sell your portion of the home. ... more
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A few hours ago
Kathy Burgreen answered:
Trulia and Zillow is for permanent residential listings - not mobile homes unless you own the land. You need to go to http://www.mhvillage.com for mobile home listings.
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A few hours ago
Kathy Burgreen answered:
Nobody here can answer your question because we don't know your credit score. Your credit score is critical to determine your interest rate which affects your monthly payment. If you plan to put 5% down ($10,000.), you will be required to pay mortgage insurance. Mortgage insurance is to protect the lender in case you default. On an FHA loan, the insurance stays for the life of the loan. You cannot remove it. On other types of loans, it can be removed under certain circumstances.

Estimated mortgage payments shown on listings use a hypothetical buyer who has a 20% down payment + a credit score of 800+. If you don't have this, your monthly payment will be much higher.
... more
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A few hours ago
Kathy Burgreen answered:
Selling a home in the U.S. is not the same as selling homes in England, so your article is useless. To write a description of a home in the U.S., the description should point out any features in the home and the neighborhood, the condition of the home and what makes buying this home special. ... more
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A few hours ago
Kathy Burgreen answered:
I'm a retired realtor and also have knowledge of horses. I have several MAJOR concerns with what you wrote. Please read the following issues:

1. I know to care for horses is very expensive. If you own a horse, is it possible to use your horse as a business strategy to make money? In your situation, if you don't have enough cash saved and you are struggling financially, how can you spend money on vet care, feeding and other expenses on a horse? If your horse earned some money, would this help reduce your expenses?

2. Lease To Own or Rent To Own does not work the way you think. The person buying the property on your behalf and allowing you to live there will charge you additional rent and ask for a down payment. You will need to sign a contract and the contract states the person who bought the house will keep all of your money if you cannot qualify to buy it at a later time. You need to know that the person who buys the home will want to make a profit. The only way to make a profit is have you pay extra money which you do not get back. You will lose thousands of dollars doing this.

3. You need to sacrifice something and make a decision. Can you afford to keep your horse? It's not about buying this house. You need to analyze your financial situation. What is keeping you from saving more money and earning more income?
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A few hours ago
Kathy Burgreen answered:
No. Are you referring to bringing somebody else for the final walk thru? For a final walk thru, you can bring anybody you want. The final walk thru is your last stand to object to anything the builder stated they would do and did not complete. This is your last day to review everything and make sure everything is in order otherwise you have every right to delay the closing of escrow.

For a final walk thru on a new construction home, I would find a contractor who has NO connection to the builder and bring that person with me. You may need to pay some money to bring a contractor BUT they are there to support you. A contractor will see things you don't know how to look for and is there to support you. If it makes you feel better, tell the contractor to say that he/she is a family friend. The builder doesn't need to know that the person is a contractor.
... more
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A few hours ago
Rujodakesu answered:
I have always heard about this great guy at Computerhackguru AT gmail DOT com and I decided to contact him when i was going to hard times and couldnt fix my bad credit on time and have been cheated by some group of people calling themselves hackers! I burst into google and find out the Guru himself and I explain my situation to him about how I lost my home to mortgage due to bad credits. He assre me a very clean result but i was still skeptical because there are too much fake hackers out there but I decided to go on faith due to the good reviews it him online, He asked for certain money but I was broke as hell and I was shocked when hes ready to help me with the little money I have with me. I thought it was a joke when he told me to be in 48 hours! I was shocked with tears in my eyes when he help me increase my credit score to 750 plus excellent! I have no choice than to publicize his good work because I owe him a lot and I want to lead people to the right way! You all should get to Computerhackguru AT gmail DOT com ... more
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A few hours ago
Teozile asked:
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Yesterday at 11:15pm
Eclass1906 answered:
If anyone is looking for quality wholesalers in the chicago and Indiana markets please email me at edocker2@gmail.com
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Yesterday at 10:11pm
Dawn Ott asked:
4 working Adults! 5 bd,4 bth,fncd yrd,fnshd bsmnt
0 votes 0 Answers Share Flag
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