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All Locations : Nationwide Real Estate Advice

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A moment ago
J asked:
Want to make site where homeowners can list room rentals for students from an upstate university. I'm wondering if I can charge a fee to either party.
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A few minutes ago
Littles402 answered:
I stop paying in 2010 and moved out 2 yrs later and they still never foreclosed! I never got a phone call or anything then one day at house I am renting in I got a letter that they sold my loan and started the process all over again it took me calling new company almost seven yrs later still no push to foreclose I did a deed in lieu to get rid of it 7 yrs way to long

Thanks Wells Fargo you suck
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A few minutes ago
Kathy Burgreen answered:
I have lived in a rental building for years and I'm a former realtor, so my advice is as follows. Is your intention to be hands on (finding and screening tenants, collecting rent, performing maintenance, paying bills, keeping up to date with state and local laws, resolving tenant disputes, keeping records, etc.) OR is your intention to be hands off (paying a property management company to handle everything.

You need to interview property management companies and ask lots of questions. Ask what services they do, cost of such services, what your responsibilities will be and how much responsibility you want to take on, etc.

Next, find other rental buildings and go to the county tax assessor's office to find out who the owner is. Contact them if they are using a property management service. Ask their opinion of how their management service is performing. Do the same with condominimums. Most condos use a property management service. Speak with the HOA and ask what their opinion is of the service.

An issue for you since you're in CO will be snow removal. I imagine this will be an expense that you need to consider. I'm in the New York City suburbs and here they charge plenty for snow removal because they know landlords will pay high prices to clear out their parking lots.
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A few minutes ago
Sheila Metzger asked:
I have used that information for many years doing market analysis, tailored specifically for each zip code in Kern County; especially, the number of homes in the "Auction, Pre-foreclosure…
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A few minutes ago
Dara Henry asked:
A few hours ago
Sashaa.dillon asked:
I recently spilled coffee on my carpet.. I've tried EVERYTHING and the stain will not come out. Does anyone know of a carpet cleaning company that's affordable and will be able to get the…
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A few hours ago
Clifford Group answered:
Pat
Great Question and one we get asked all the time. With most cash buyers the offer may be a little less but the convenience and speed of getting the house sold fast should be expected.
Although we are in Connecticut this article has some great resources on Selling your house fast. to a cash buyer or selling your fast traditionally. http://www.sellmycthousenow.com/how-to-sell-my-house-fast/
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A few hours ago
Kathy Burgreen answered:
A home on the market that long either has issues with the home or neighborhood or the seller is not motivated to sell. When the seller is not motivated, they will wait for a buyer to submit an offer at a high price - enough to make the seller happy. Any amount below what the seller wants will be rejected. Most realtors try to convince sellers that their asking price is not realistic because it's very difficult to find buyers who will overpay for a home.

In this situation, if you feel the seller wants more money than what the home is worth, walk away and search for a more affordable home.
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A few hours ago
Kathy Burgreen answered:
Your situation has to be resolved with your landlord. Nobody online can answer your question. Have a conversation with your landlord and ask him / her to talk with your downstairs neighbor and your landlord will be able to calm things down with the downstairs neighbor. No landlord wants issues to escalate and will be happy to nip things in the bud before the situation gets worse. ... more
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A few hours ago
Kathy Burgreen answered:
Is this a For Sale By Owner listing or a home listed with a brokerage. The difference is if the home is listed with a brokerage, the listing agent is being paid to be the intermediary with all buyers, so the seller will refer you to their agent.
In a For Sale By Owner listing, you need to contact the seller directly.
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A few hours ago
Kathy Burgreen answered:
NY is a tenant friendly state, however, your tenant has limited rights because there is no signed lease. Under NY law, you need to notify your tenant in writing that he / she needs to move out within 30 days. It would be better for you to give the tenant 60 days notice because if your tenant fights this, you will look better in the eyes of the court with a 60 day notice. If your tenant looks like he / she will not cooperate, keep all communications in writing and document everything. You need this if you file for an eviction notice. ... more
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A few hours ago
David Demar answered:
Why not just give the sellers the report? It no longer has any value or use to you since you're not going to buy the house and it costs you nothing to give it to them. If you feel that it's unfair to give the seller something for free that you paid a lot of money for then at the very least you could offer to sell it for some portion of what you paid the inspector. ... more
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A few hours ago
Sharellw answered:
I'm looking for a four bedroom that takes sec 8
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A few hours ago
Kathy Burgreen answered:
In addition to Scott's reply, you need to talk to your landlord and set some ground rules. Find out why the lockbox is there; under what circumstances will somebody enter your home; who has the code or access to the lockbox besides your landlord; if you want the lockbox removed, will your landlord remove it; if your landlord will increase your rent because of the lockbox; if your landlord does intend to sell the home in the near future, etc. ... more
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A few hours ago
Kathy Burgreen answered:
There has been 1 home sold where the buyer cashed his bitcoins into U.S. currency and then paid cash to buy the home. If I recall, I think it was a home in Miami (check the news). The issue with bitcoin is it is not registered with the Federal Reserve Bank and is not legal tender to buy real estate. At this time, buyers need to convert their bitcoin into U.S. currency before closing on a real estate transaction.

Bottom line - real estate transactions require an itemized U.S. settlement sheet and all amounts are recorded in U.S. dollars, so bitcoin is not allowed to be listed on the closing documents.
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A few hours ago
Jeremy Weinberg asked:
My seller has a brand new roof but has dried up water damage on a few areas of the dry wall. There is no standing water, only water spots on the dry wall. Also, there was termite damage…
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A few hours ago
Kathy Burgreen answered:
Typically, a new realtor needs to interview at several brokerages and compare what each brokerage offers - type of marketing, type of software used, amount of fees you will need to pay upfront, whether the brokerage offers leads, percentage of commission split, what is expected of agents, etc.

However, in your situation, your biggest obstacle is learning about the new area you moved to. Remember, you are self employed and responsible for succeeding in your own business. Real estate is very competitive and the other agents in your office as well as other brokerages know the area better than you do and will use it against you. You need to develop a plan as to how you will get leads, why people should hire you and trust you, what can you offer buyers and sellers that other realtors can't, and expect leads to ask about your experience and knowledge of the area.
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A few hours ago
Scott Godzyk answered:
Here in NH, half is paid by seller and half buyer. If in your market the seller pays it, and if you have a buyer agent working for your, then they should have explained this BEFORE you signed the contract. If you went straight to the listing agent, they work for the seller not you ... more
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