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Home Buying in Chester County : Real Estate Advice

  • All47
  • Local Info1
  • Home Buying22
  • Home Selling8
  • Market Conditions0

Activity 365
Sun Oct 8, 2017
Reasonableresidentialreturns answered:
In North Carolina , the NC Real Estate Commission recently told me that Buyers or Sellers agents are not required to be attorneys. That being said, the NC Real Estate Commission does not consider it is the brokers responsibility to to be knowledgeable about deed restrictions or zoning violations. And unless buyers or a buyers agent ask the listing agent. if there are any deed restrictions,zoning violations, murders or anything else which may effect the value of the owners property, do not mention it, unless you are asked specifically .

My question is this, if you are the NC Real Estate Commission. And you were created to protect the general public from people who are licensed to list and sell real estate in NC
using the statute or guide lines referenced above. Someone or both by and sellers could end up in a bad situation .

The NC Real Estate Commission is understaffed .The '' Commission' as they are referred to is required to send a letter of inquiry to any NC licensed broker, if a person sends in a complaint about that broker. There may 30,000 -40,000 active brokers in NC.

And the "Commission" did not necessary make the Statutes mentioned above, they are there to enforce them.

There is more to the story, if you want to here the rest of the story as PH used to say, send me an email

Jim DeMare
Reasonableresidetialreturns@gmail.com
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0 votes 13 answers Share Flag
Wed Sep 27, 2017
Kathy Burgreen answered:
The point to having a realtor represent you was at the very beginning BEFORE you even stepped foot on the development. At the stage you are in now, it's too late. You can't have anybody represent you. You already signed the contract. What do you mean by "already finalized the house"? Did you have an inspection yet? Did you get a closing date? Is the home completely built yet?

When it comes to new construction, realtors will negotiate with the builder regarding the terms of the contract, discounting the price for upgrades, etc. Once the contract is signed, it's too late. You can't undo a contract.

Finally, no builder will allow you to include the balance of a commission into the closing of a home. Builders refuse to pay a realtor's commission unless they accompany you on your very first visit. Obviously that didn't happen, so if you use a realtor now, you will owe the full commission out of your own savings.

Bottom line - you messed up big time.
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Thu Sep 7, 2017
Solomon David answered:
if your credit score is poor a friend refer me to netsolvetechnology@gmail.com who just help me improve my credit to excellent grade and he help me clear my debt ,he is a professional in this job ,he is reliable and honest,thanks to him..tell him smith refer.. ... more
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Thu Aug 31, 2017
grantrebecca18 answered:
Sun Aug 13, 2017
luisrjr1980 asked:
Wed Jul 19, 2017
Rdshein asked:
Tue Jul 4, 2017
Kathy Burgreen answered:
A home that is on the market for 285 days typically will fall into one of 4 categories:

1. The seller refuses to accept any low offers. The seller was probably told the asking price is too high but may not be able to sell unless he/she gets full asking price. Since the home is not worth what the seller wants, the home will sit on the market forever.

2. Condition of the property - does the home need major work or minor cosmetic work. If buyers need to spend considerable money, they want to make sure the home after renovations will be worth more money. Buyers may not have the cash to spend on renovations. This depends on the neighborhood too.

3. For Sale By Owner listing - these take longer to sell because without a realtor, typically the owner has fewer resources to use to market their home.

4. Realtor / Broker not marketing the home effectively. Yes, some realtors are lazy or they don't spend the money wisely to market their clients home properly.

Since you don't know the reason why it's been on the market for almost a year, try submitting an offer that is 20% less than the asking price. See if you get a counter offer or a flat out rejection. You can always increase your price - 2nd round submit an offer that is 15 or 10% less than asking price. And so on.
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1 vote 1 answer Share Flag
Thu Jun 1, 2017
Debra (Debbie) Rose answered:
Sorry, but.....Yes..... you should move on to another property....one that won't eat up 50% of your income!!

Have you spoken to a lender yet? If it's any consolation, I highly doubt you'd be approved for a loan that had such a high ratio, but you really do need to check.

The "old" ratio used to be that your mortgage payments, including taxes, insurance and HOA fees shouldn't exceed 25% of your income! Even if you push that a bit higher to, say 30-33%, you want to keep in mind your living expenses...... you might even want to eat out and see a movie once in a while!!!

Continue your search for a home in a price range that will be more manageable and give you some breathing space.

Best wishes!
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0 votes 1 answer Share Flag
Sun Apr 23, 2017
Mikai asked:
This property has 1,700 SF living space and finished basement. Why was it listed as "Land"? Is the house livable?
0 votes 0 Answers Share Flag
Fri Jan 20, 2017
Megh4n answered:
You can click on any home you are interested in, and scroll down on that home's page. It will have a map where you can look at crime rates. From what I remember, the worst is in downtown Coatesville itself, but not much outside of there. ... more
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Fri Jan 20, 2017
Megh4n answered:
Hi Arooj,

Just wondering if you ended up buying in Coatesville, as my future husband and I are also considering a purchase in a Ryan Homes community just north of the town.

Thanks,

~Meghan
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Wed Jan 18, 2017
JM37B asked:
Builder filled out form stating 1 of 3 units already owner occupied. Mortgage underwriting wants proof (so far rejected signed affidavit) they seem to want drivers license. Hoping they accept…
0 votes 0 Answers Share Flag
Mon Jan 16, 2017
Megh4n asked:
Definitely want to find a good unaffiliated inspector for the build since we live out of state and cannot be there to make sure corners aren't cut. Also, first time home buyers! This is…
0 votes 0 Answers Share Flag
Wed Nov 16, 2016
Beth McNulty asked:
I feel like I am throwing my money away on rent (Charleston Green) I have a low credit score but a good job (Legal Secretary in Paoli) - my lease is up in May 2017.
0 votes 0 Answers Share Flag
Fri Sep 23, 2016
Leinikki00 answered:
what was your outcome on this? Curious becaus I am faced w/ a similar situation. Listed on MLS as "wood laminate" in dining room, living room, kitchen, and after purchasing, we discovered the flooring is actually luxury vinyl. we had an inspector, but inspectors don't check flooring accuracies. the floor looks like wood lam, feels woodlike, bcuz there is a wood subfloor. When questioning the seller's agent, we got the same sort of response. Basically flipped us off, absolutely no apology. It was an intentional error. why would anyone want "vinyl" throughout their house? so they fudged it, w/ the knowledge MLS has a disclaimer that'll protect them, saying the floor is wood lam. sue or not to sue? ... more
0 votes 16 answers Share Flag
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