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Norwich : Real Estate Advice

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  • Local Info2
  • Home Buying9
  • Home Selling4
  • Market Conditions0

Activity 30
Thu Aug 4, 2016
Alysse Musgrave answered:
Either the seller has to reduce their price, you have to pay the difference in cash, or a combination of the two. You should also have the right to terminate the contract if you can't reach agreement with the seller.

Don't Let Them Make a Monkey Out of You! Follow the links below.


Alysse Musgrave
Consumer Advocate
Exclusive Buyer Agent

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
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Thu Mar 17, 2016
Shauntia Jarmon asked:
What is the best way to go when refinancing? Is it better to go with a local and or a big known bank? And do we have to pay anything out of pocket when we do refinance?
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Mon Mar 7, 2016
We3devegas asked:
I posted it on Zillow and it was automatically posted to other websites. I need to delete them on the other websites.
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Fri Jul 17, 2015
Marge Stockbridge answered:
Heck, if your spending a relatively insignificant amount (unless $8K is downpayment?), surely u can come up with another $500 or so to be represented by attorney. The value of a real estate attorney can be the difference between losing funds or being delayed, which can cost you money due to unforeseen events.

Once, I built home. Attorney included clause in sales contract that in event builder did not meet construction deadline--which he agreed to in signed P&S Agreement between us, and upon completion to convey home to us, he would forfeit the house in whatever state it was at the time, including land, with no further payments due from us (we paid builder upon completion of trades: e.g., foundation done, he got $5K, roof put on, he got $2K, and so on until house completed, all funds paid out.).

Near deadline, I heard builder really scrambling, pulling guys off other jobs, etc., in order to meet that deadline. Do you think builder would have done that if not for agreement made by attorney (we never would have thought of that) to which builder agreed in order to get money to start job?

In end, although we always hate to pay money for 'advice', sometimes (not always) it's route to go--but again, as first paragraph states: depends on how much ya got to lose.
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Sun Jun 28, 2015
Joseph Domino answered:
Commissions are negotiable by all parties. Real estate agents get paid by commission. If they do work for you, they are probably entitled to a commission. When you do work for someone you would want to be paid.

If you have found a house that is not currently listed, it is your choice whether to use an agent and to negotiate the commission. If your agent found you the house, has negotiated on your behalf and is handling the sale, then pay them what is typical for your area.
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Sat Nov 22, 2014
Tim Moore answered:
First of all, yes there will be legal documents. The contract to purchase is a legal document which speaks to the earnest money and what price will be paid. Also the deed must be recorded to protect you, the buyer, and that must be drawn up by a lawyer.

As a sellers agent I would insist on seeing proof of funds before I allowed the property to be taken off the active for sale list in the MLS.
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Fri Nov 7, 2014
Km133688 answered:
You can look at as many houses as you want. There is no illegality to it. You must have misinterpreted what your agent told you. Your agent is likely not interested in showing you other properties if he/she figures you are not serious about them since you have another under contract and thus it is unlikely you will sign another contract before the first one is figured out one way or the other. Your agent may feel showing you more properties when you have one under contract is a waste of her time. In reality, it probably is.

Additionally this agent may not want you to look at too much more stuff because you may come down with a form of "pre-buyer's remorse" so to speak and decide you have changed your mind and don't want to buy the property you have under contract.

I suggest that if the house has way more work than you expected, then back out of the deal. Your contract does have contingency for this right? Then keep looking.

Illegal for them to show you more? Absolutely not.
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Thu Jun 26, 2014
Anna M Brocco answered:
If the property was listed with a broker, ask your agent, or directly contact customer service http://www.trulia.com/help/ask/ Be aware that pictures may appear on other sites as well, therefore you may wish to Google your address..... ... more
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Tue Jun 24, 2014
Tiffany Holtz answered:
In WI it is not only unethical but against state law to tell a buyer that their other offers on the property when there are not.

They can say:

a. we have written activity
b. we may be receiving another offer, but nothing in writing yet

False representation of offers on a property, in our state, would get the agent removed from MLS for at least 6 months.

But they could have more offers so you have to play the game I guess!
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0 votes 13 answers Share Flag
Tue Jun 24, 2014
Tiffany Holtz answered:
A.) You could lose out if you start to low b/c another buyer could start higher
B.) You could insult them and have them straight out reject your offer
C.) The seller could counter back and you could come to terms
D.) The seller could accept your offer straight up, you don't know their motivation

It is up to you how bad you want the house and what your comfort level is as far as max price.


Your agent is working for you so they are trying to give you advice so you don't lose the home but they also do not know the sellers situation. What if the seller lost a job and wants to sell ASAP???
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Tue Jun 24, 2014
garypuntman answered:
You could see if you can take out a loan to make the repairs. You may also have some insurance that will cover some of the necessary repairs. If you do sell it as is, you won't get as much money for it. You could always do some of the repairs and then sell it for a little bit more. http://www.roofandwalldoc.com.au ... more
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Sat May 24, 2014
Christian Driscoll answered:
If you would like something on the more cosmopolitan side, try Cove View Towers, near the casino. www.CoveViewTowers.com
0 votes 1 answer Share Flag
Tue May 13, 2014
Aaron-James Puzzo Kerouac answered:
Look Casanova,

What you want to do is get hookuped up with a 203k specialist asap. I love working with FHA 203k candidates because its really a great way to have instant equity in your home. At the $65k price point you will also be competing with "investors" looking to make a quick buck so be aware.

I have worked in Norwich for over a year and have some great contacts if you or anyone else is interested in this specialist FHA program.

Thanks,
AJ
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Tue May 13, 2014
Aaron-James Puzzo Kerouac answered:
It is harder and herder to find landlords who will accept pets. Unfortunately a small group of horrible pet owners ruin it for those of us who take the time to train our pets.

I ask all of my potential landlords to agree to allow pets before listing with me. So if you are in the market for another rental, give me a call and I can give you some options. However, any pet owner should know that they will have to be open to a serious security deposit. You get it back in the end (with interest) so whats the difference. ... more
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Wed Aug 7, 2013
Jessica Tracy answered:
Sat May 18, 2013
Laura Frisch answered:
You may qualify to be considered a loan with a 608 credit score but getting a loan is more than just your credit score. The lender will look at why your score is 608, when was the last time you had a late payment on any of your debts, and your job history. This overall picture is a better determinate if you will be able to secure financing. ... more
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Sun Mar 31, 2013
Mark Sanner answered:
You should be aware that FHA now requires condo associations to be recertified EVERY TWO YEARS. Ask the property manager and/or association board of directors if they intend on keeping FHA certification indefinitely.It's a task they'll have to keep doing every two years and they should budget for the cost as well.

Whether or not an association maintains FHA certification is likely to have an impact on values in the future, meaning it'll impact resale value and may therefore influence how much a buyer is willing to pay today.
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Sun Feb 24, 2013
Richard Sanderson answered:
As Anna Brocco suggests, start by contacting the assessor's office. The key deciding factors for determining whether real estate assessments go down, stay the same, or increase are: (1) the effective date for the reassessment (e.g., January 1, 2014); and (2) the time frame that assessment office studies to estimate assessed values for that effect date of revaluation (e.g., one, two or three years PRIOR to July 1, 2013). Assessor always use historical sales that they qualify as indicators of market value and need to cut off the sale study period about 6 months before the completion date in order to value ALL properties in their community. Even using mass-appraisal techniques, it takes a big time effort to completely revalue all properties. As long as all properties are valued using the same effect date of value and study period for sales, the appeal boards consider this to be fair and equitable treatment. ... more
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Thu Jan 17, 2013
allan erps,ABR,SFR answered:
If the new job is in the same field with higher income, it may be fine with the lender.
0 votes 5 answers Share Flag
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