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Home Buying in Fort Myers : Real Estate Advice

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  • Home Buying453
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Activity 610
Thu May 18, 2017
Mandyw489463 answered:
Personally, I wouldn't rush into purchasing. Take your time and get to know the area before you make the commitment of purchasing something. There are many storage facilities (https://www.storagewest.com/locations/arizona/mesa/) that you can use to store your belongings while you decide on a permanent location. Best of luck to you! ... more
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Thu May 18, 2017
Mandyw489463 answered:
Good for you! Not many people are able to pay cash for a house. I would still recommend using a real estate agent. They have access to MLS that will give you more houses to choose from as well as help with negotiation process. My understanding is that the inspection is done in part for the lender but I'm not sure what they requirements are for your state. Again that's something that your agent could assist you with. Getting an inspection done can help prevent you buying a house with unexpected, unpleasant surprises. ... more
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Thu May 18, 2017
Mandyw489463 answered:
I would definitely sell your house before putting an offer in on a new house. I don't know about your area but the market has been very slow to recover here and I wouldn't want to get stuck with 2 mortgages for long. Not to mention the cost of renting a place for a month or two would probably be less than your mortgage. ... more
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Tue May 16, 2017
Eric W Vander Werff answered:
New construction will still have a contract date for closing and I've frequently seen contracts extended in the NW with as bad as the weather has been in some areas. Not sure about Ft. Myers, however. I would get with your Realtor and then the builder and let them know the situation and see if they will work with you. A month is a pretty long extension for a purchase contract, but maybe that is easier for them then letting your contract expire and then waiting several months for a new buyer and their financing, etc. Best of success - I would be as transparent and pro active as you can be. ... more
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Mon May 15, 2017
Kathy Burgreen answered:
BEFORE you look at towns, schools or houses, did you analyze your income tax situation? Your issue is since 1 spouse works in NYC and the other spouse works in NJ, you will be required to pay income tax to both states. How much will be deducted from your paychecks or will you be required to pay a large sum on April 15th. You need to know the amount you will be required to pay because this will affect what you can afford to pay for housing. Also what are your transportation costs? Have you looked up the monthly commuting costs to Manhattan? What about gas and car repairs for the spouse working in Jersey City?

As for names of towns to move to, this heavily depends on what you are qualified for. Briefly, anything in northern NJ has excellent schools and is a great place to live. However, housing is expensive. If you go west or south (away from NYC), most suburban public schools are good - great. Housing is a bit cheaper than northern NJ but don't expect any bargains. There are none. Avoid The Oranges, Newark, etc. because those neighborhoods are not as good (crime, lousy public schools, safety, etc.) I was going to include Hoboken but not real sure about this. You need to understand that many NYC residents have been moving to New Jersey because it's cheaper than the NYC suburbs.

Finally...property taxes. You need to calculate this into your monthly housing expenses. Property taxes are very high in both New Jersey and New York. School budgets are voted on annually and residents always seem to pass their local budgets even if it means increasing property taxes. New York City has very low property taxes but the reason is the money is not spent on public schools and therefore the public schools are pathetic.
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Mon May 8, 2017
Susie Kay answered:
Fri May 5, 2017
Nick Swanson asked:
I'm currently in the post inspection negotiations on buying a house. One part of the inspection revealed that there was some settling at the concrete patio, resulting in the slabs (2 8x8…
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Wed May 3, 2017
Joel Spangler asked:
We had a home inspection done, but the inspector couldn't test it because the temp was too low to actuate the AC system. It turns out there was no refrigerant in the system, and the duct…
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Wed May 3, 2017
Jennifer Welch asked:
am I waving my rights to have the seller reimburse me for the inspections if i take him to civil court?
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Tue Apr 25, 2017
Jensen213 asked:
The sellers agent failed to include the knowledge of basement flooding in the disclosure statement. The inspection uncovered basement flooding and suggested remedy (french drain). I (buyer)…
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Mon Apr 17, 2017
Angus Reed answered:
I think you should hire a real estate adviser who have experienced in this field. Some people says that don't go with real estate agents but in these kind of situations real estate adviser gives you better advises to come out from this situations,.Don't wait for more time and take advise from real estate agent. ... more
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Fri Apr 14, 2017
Richie9316 answered:
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Thu Apr 13, 2017
Barry McWright asked:
If you need help finding a lender that offers the First Time Buyers with Down Payment and Closing Cost Assistance. I can help, I am a realtor with Northeast Florida Realty and I work with…
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Sat Apr 8, 2017
Kathy Burgreen answered:
As a former realtor, your agent is greedy and you need to work with somebody else. Here is what you don't understand:

1. Since realtors are independent contractors and work on commission, they have the right to vet buyers and sellers BEFORE committing to work with them and have them sign agreements. In your case, your agent SHOULD HAVE explained that if a seller refuses to pay the commission fee difference / gap between what the MLS system offers and what your agent requires, do you as the buyer have the cash available to pay it out of your own pocket.
If you have the cash available to pay the commission difference, great! Continue working with this agent.
However, if you had told your agent that you do NOT have the cash to pay the commission difference, your agent should have said the following: "In our local market, sellers are not willing to pay the commission difference and/or I can't guarantee the seller will pay ... and since you don't have the money available, I can't work with you and you would be better off working with an agent who is willing to accept the standard commission fee that is posted in the MLS system. It would be better for both of us if you worked with somebody else."

2. You already had 2 deals that fell thru. This will continue as long as you are including the additional $1,000. fee in your closing costs. At this rate, you will never get an accepted offer. Wake up and realize that you need to change strategy. Cancel the agreement with this agent and find somebody else.

3. If you are getting a mortgage loan to finance your purchase, your lender will require an appraisal. The appraised price must match similar homes that have recently closed in the same neighborhood, similar homes that are under contract, etc. NO appraiser will include $1,000. in their appraised price. Lenders will only give a loan up to the appraised price. Example: let's say you sign a contract for $300,000. You include $2,000. that the seller will pay for your closing costs. The appraised value is $300,000. Your loan will be $300,000. The seller will see this and refuse to pay the extra $2,000. So who is going to pay the #2,000.? You are. If you don't have the cash, you will have to walk away. And the cycle continues - which is why you had 2 deals fall thru.

4. As Alan said, many buyers agents want to be paid more than what the seller agreed to in their listing contract. Remember, the seller decides how much to pay a buyers agent and the commission fee is posted in the MLS system. Therefore, if agents want more money than what the seller agreed to - well, they start asking buyers to pay the difference. It may not be fair to you but it is legal. As a buyer you do NOT have to agree to this. There are plenty of agents available who will accept what the seller is offering. You need to find one of these agents.

Do yourself a huge favor. Don't be a victim and allow a 3rd or 4th deal to fall thru because the seller refuses to accept paying your broker's commission.
... more
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Fri Mar 31, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

You can buy a 3 family home with 3.5% down payment using an FHA home as long as you intend on occupying one of the units.

If you have any other questions or would like help with this you are welcome to get in touch with me. ... more
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Wed Mar 29, 2017
Kevin Fan asked:
I'm trying to buy my first house and have a question that I've been getting conflicting answers from a number of sources. Does anyone know if I get a gift from a donor of $60,000 that the…
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Tue Mar 28, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage specialist.

I would need more details but most FHA programs do not require rental history.

We have some very lienant FHA programs.

If you would like me to take a look at your loan you are welcome to get get in touch with me. ... more
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Fri Mar 24, 2017
NC17 asked:
We got preapproved for a mortgage through quicken loans. They were the only ones who would pre approved us with my limited work history. They seem confident that we can be approved, but…
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Wed Mar 22, 2017
Oliver Buys Homes answered:
There really isn't a right or wrong answer here. The monthly payment on the 10 year mortgage is about double that of the 30 but you will be paying more than that every month anyway since you want to pay it off in 2-3 years.

There is no real advantage for you in either way. I would probably do the 10 year mortgage to save a little money.
... more
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