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Home Buying in Powell : Real Estate Advice

  • All44
  • Local Info3
  • Home Buying15
  • Home Selling2
  • Market Conditions2

Activity 15
Fri Nov 1, 2013
Cindy Jakupcin answered:
Hi Jodi. My expertise is the Powell/Lewis Center areas. My husband and I moved to Powell 21 years ago and know the area very well. Our children attend Olentangy schools, with my oldest graduating this year. In the last year the majority of my business has been in the Olentangy school district, with home styles varying from condos to single family homes, prices ranging from $190k-$709k. You can reach me today at (614)314-4373. ... more
0 votes 8 answers Share Flag
Thu Mar 28, 2013
dawnneubanks answered:
Actually 2 condos beside each other would be cool too. The in laws prefer one floor with a basement
0 votes 5 answers Share Flag
Sat Feb 23, 2013
Spirit Messingham answered:
Not on Trulia, you can't as Trulia does not allow FSBO (For Sale By Owner). As the other agents suggested, there is a lot more to deal with on a Condo, like the financing section.

Another option for you would be to contact a brokerage that does a flat fee listing. There are several out there that charge a flat fee, like $499 and all they do is list it on your local MLS. This will generate traffic, and it will auto feed to sites like Trulia and it will be listed. I do have to warn you, you would have to do all the paperwork, negoate the deal yourself. Just like a person is free to represent themselves in a court of law, for most people hiring an attorney will be their best bet. Wanted to provide another option for you. Here in Tucson, AZ 91% of all properties are sold thru the local MLS, it really is the best way to sell a property.

Best of luck.

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0 votes 4 answers Share Flag
Sun Jan 20, 2013
irene schaad answered:
I would love to help you look at all condos in the Powell and Lewis Center areas. I also can help you with the pre-approval process if you need help. Please call me at 614 361 0475
0 votes 3 answers Share Flag
Tue Jan 1, 2013
Sharon Andreas answered:
The one showing for sale in there says $189.00 per month for the 1,222 square foot condo. My in-laws live in there but live in the Canterbury unit so their HOA fee is more.
0 votes 1 answer Share Flag
Fri Oct 26, 2012
Don Tepper answered:
Thanks for the clarification. It helps greatly.

Ask your lawyer whether some mechanism other than a lease-purchase might work better in your situation. A lease-purchase is a bit "loose" considering that there's a specific property, a specific buyer (the investor), and the certainty that you want to purchase from the investor. I personally love lease-options, but they're not right in all situations. And in your case, something else might be more direct.

For example--and I'm not a lawyer so this isn't legal advice--the investor might purchase it, put it into an LLC, and then you purchase the LLC.

Or--a bit more complicated but really well-suited to your situation--use a land trust. The investor would buy the property, then transfer it to the trust. You'd be named a beneficiary of the trust. The trust would specify all the details of the purchase.

I see you've already given Ralph the "Best Answer." I agree that, faced with a general question about lease-purchases, his answer was definitely the best given. However, it still pertains more to general situations than your specific one.

Hope that helps.
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0 votes 10 answers Share Flag
Sat Sep 29, 2012
Carol Toronto answered:
James Gordon (Cincinnati) is exactly right about the listing. They want it listed with a Realtor for many reasons, foremost reason is a professional marketing and the specific legal forms required in this type of transaction. You really need to consult with a Realtor with knowledge about handling short sales. ... more
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Thu Jun 21, 2012
Lynda Long answered:
478 was withdrawn from the market on 4/30/12.
0 votes 2 answers Share Flag
Sat Jan 29, 2011
Joan Defenbaugh answered:
Lynda is correct. I also would add that the $100,000 figure may have come from a transfer that may have involved an estate. Since Trulia pulls data from multiple sources, it may have picked up a transfer that happened just before the sale. I included a link to the sale from June of this year. Let me know if you cannot open the link and I'll email you the info directly from the MLS. ... more
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Wed Jun 23, 2010
James Deskins answered:
Hey Chris, I see (2) other agents on here who asked for his business, including me. Did somebody use the word "offensive?" I didn't see that. BTW, this posting was from March 07...

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0 votes 10 answers Share Flag
Tue Mar 9, 2010
Melody Cahill answered:
Another good source is Be certain to read all the fine print in regard to inspection, purchase requirements, and their process. Keep in mind, you will not have the protection and representation you would have by using a real estate licensee. ... more
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Tue Mar 9, 2010
Don Bush Team answered:
Presently, there are better ways to buy.
0 votes 3 answers Share Flag
Sun Feb 22, 2009
Joan Defenbaugh answered:
I am a real estate agent in Columbus, Ohio. I am on two sales teams for Coldwell Banker King Thompson's New Homes and Condos division. Myself and my team represent the builder. I PREFER that a buyer has an agent to represent them. The transaction goes much more smoothly. The communication is easier because your own agent can explain everything to you and you know they are working in your best interest.

If you are buying the finished model, your buyer's agent will have suggestions and advice about home inspections as well as being able to provide you detailed information about the area and community.

Being a cash buyer is great, but it does not mean that you don't need representation. Good luck and enjoy that NEW home!
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0 votes 13 answers Share Flag
Mon Dec 8, 2008
C clark answered:
I'm not a real estate attorney, so instead I will give you a scenerio that I found online:

The builder went bankrupt, leaving landscaping, water, sewer, & trash debt.

The 9 Condo owners purchased units between May and August 2007 (I was Aug 24) and the builder filed bankruptcy mid-October. The Property Management Firm (PMF) has not lived up to the promised service levels and says that Water Sewer & Trash service is about to be cut off for excessive owing debt by the bankrupt builder. The PMF has potentially been using our dues to float the debt. It was not disclosed to me when I closed on my condo that I would be responsible for the builder's debt. What I was told was that the HOA dues were calculated based on a 200 unit occupancy to support a future pool, without an increase in HOA dues.

Well there is no pool, I don't even want one, but the Property Management firm is telling us now that we will have to vote on a new budget to increase HOA dues. I was under the impression that the dues should be put into an account, pay for the current services, and if the builder racked up some debt, that it should be petitioned in bankruptcy court.
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0 votes 3 answers Share Flag
Tue Jun 10, 2008
Tom Winand answered:
Yes it is legal. You are actually offering less than the sales price net after he pays your down payment through a gifting down payment program. So in reality you’re offering 97% of the sales price and there is probably a $500 administration fee on top of the 3% he is paying. So it’s 3% + $500 less than a full price offer. Now with lots of seller they get upset that people what the seller to pay your down payment. They say no one paid my down payment or closing costs why should I pay theirs. Even if it’s usual and customary today in the market; it doesn’t make then any less upset about it. Sellers generally have an emotional attachment to their home and a large unfulfilled expatiation of what their home is worth right now, compared to what buyers are willing to pay. The Realtor is the messenger and please don’t shoot the massager. I would dough highly the realtor told the seller anything about your finances. The seller probably feels he has the home listed for too little and is unwilling to accept 3% less than the listed price. Is the home priced well for the market? If so then it probably worth full price net sales price and your down payment is your down payment, there is nothing wrong with adding it on top if it will appraise for that. That just goes to show you’re getting a good price for the home. ... more
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