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Home Buying in Old Tappan : Real Estate Advice

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  • Local Info2
  • Home Buying4
  • Home Selling1
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Activity 7
Mon Aug 29, 2016
Clverost answered:
As the seller of a home in a flood zone, let me add the following:

1) I went to http://www.myhomeclue.com/faq.html which took me to Floodsmart.gov entered my home address. It said we were a high risk area (which we are not) and underrated the cost of flood insurance.

2) I went to the FEMA site which gave a much more accurate picture of our risk for flood (< 1% per year).
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Fri Jun 12, 2015
Albiecardew answered:
The cost of tree removal often depends on the size of the tree and the placement of it. Since you would like the roots removed as well, that may cost more. I would suggest contacting a few different companies to get different quotes. By doing so, you can ensure that you get the best price. http://www.arbormantreecare.ca/en/dangerous_tree_assessment_and_removal.html ... more
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Mon Dec 24, 2012
Andrew Tisellano answered:
As far as the foreclosure. It depends how far along the bank is in the process. You may be able to slow down the foreclosure process if you have it listed for sale and get an offer. Is there any equity in the home. Please contact me for market analysis. ... more
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Fri Sep 28, 2012
Jeanne Feenick answered:
You may well be protected by theo mortgage contingency in your contract. Read it over carefully, talk to you agent, and better yet, your attorney if one is involved in the transaction.

Good luck and best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
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Wed Aug 1, 2012
Keith Lawrence answered:
Based on the information you stated, you can get your earnest money back once the contract is voided. The listing stated that it was not if the FEMA Flood and through the closing process it turned out to be in the Flood Area.

Good luck with your home search
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Tue Jul 19, 2011
answered:
Drdrowsy - regarding your comment:

"claiming he did the best he could. I would think that a desire to have pride in ones work would compel someone to make corrections, but that doesn't appear to be the case. "

I suspect that often appraisers do want to do their jobs correctly, and most of them have a lot of pride in their work. However, the issue is, is that for the most part lenders are stuck using Appraisal Management Company's (AMC's), these are the company's that Scott Hulen referred to as taking a slice of the appraiser's pie/profit. Well you see when one of these requests to change an appraisal is made, it goes through the AMC's first, then to the appraiser. So there is a bit of a political mess here. The AMC doesn't want to look incompetent for not doing a thorough Quality Control (QC) review or they may not be used by the lender, the appraiser doesn't want to look incompetent for not doing a quality appraisal or they may not be used by the AMC. So admit the mistake by making the correction? Or stick to your guns and justify that the appraisal was done "the right way"? Most pick the latter.
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Thu Jun 10, 2010
Manny Cabanilla answered:
Tax assessed values have nothing to do with market values. Tax values are only used for tax assessments. That is why Old Tappan like Alpine, Englewood Cliffs and Saddle River have relatively
lower taxes than other towns. You will notice that on an investment point of view, you will do much better
in towns with lower assessed values because they will appreciate much faster. Intelligent buyers that
bought in these towns specially business people get insulted with high taxes and they would rather pay a high price for the home knowing that it will appreciate much faster.
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