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01440 : Real Estate Advice

  • All13
  • Local Info1
  • Home Buying7
  • Home Selling0
  • Market Conditions0

Activity 8
Sun Oct 15, 2017
Richborges7 asked:
Purchasing a commercial property for about 35% of appraisal. I'd like to get a loan for an additional 10% (45% total) so that I can remodel.
0 votes 0 Answers Share Flag
Wed Jun 28, 2017
Scott Godzyk answered:
You should have addressed this in the purchase contract. The seller could be in default of your contract, you will have to have your buyer agent review it with you and if buying without an agent, have a lawyer review it. ... more
0 votes 2 answers Share Flag
Tue May 12, 2015
James answered:
I get calls like this all the time, the part that is difficult to convey to most perspective homeowners is that not all imperfections are signs that the wall is in a state of failure. The only way to answer the question is a wall in failure is to monitor the wall, and monitoring takes time. Now every perspective home buyer just shuddered, but its true. Below are some questions you can ask that will give you a better idea if the retaining wall will be an issue in the future.

First, ask how old the retaining wall is. If it is relatively new and is showing large cracks, or seems to have visibly moved that is a bad sign.

Second, ask how long the crack or imperfection has been present and if there has been any change. If the problems are new but the structure is not, that may be a sign that the wall is moving.

Third, get a retaining wall contractor (not a landscaper) to give you an estimate. They may charge since you a consulting fee because you don't already own the house, its worth it. Most retaining wall contractors will be able to look at a wall and identify the factors that are leading to the issue, and its not always a big deal. If the wall is in a high risk category a reputable retaining wall contractor can give you a realistic look at how much the project could cost.

Its important to note that if you buy a home that has a wall that will need to be monitored you will need to higher a qualified engineer, your retaining wall contractor can make a good recommendation. You might be asking why not just contact the engineer from the beginning? The answer is simple, engineers are only responsible for the design process and typically lack a working knowledge of the cost associated with the repair.
... more
0 votes 5 answers Share Flag
Thu Feb 19, 2015
Tim Urban answered:
Like everyone has said...speak to your lender. I know when I work with FHA clients, the inspection is thorough and usually surprising what they get stuck up on. For example, similar situation...we had a contract on a house with cracks (minor) in the sidewalk and we had to object and make the seller fix them prior to loan approval. Good Luck!! ... more
0 votes 7 answers Share Flag
Mon Jul 1, 2013
Jim Driscoll answered:
It is a judgement call by the appraiser. If they think it is a safety issue then yes you would have to complete it but if not them no. I have not seen this to have ever been an issue
0 votes 1 answer Share Flag
Sat May 18, 2013
Kevin Vitali answered:
It really depends upon what you agreed to. Many times a short sale offer the home inspection and PS are triggered by the short sale approval. I would ask for the short sale approval or approvals.

Go back to your original contract to purchase and see what you agreed to.
... more
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Sun May 13, 2012
Louis Wolfson answered:
not a question as to ample time, its what is in the lease. No lease, TAW consider 30 day notice adequate.
0 votes 3 answers Share Flag
Fri Mar 4, 2011
Walter Harrington answered:
Hello Jesse,

315 Elm Street in Gardner,MA.01440 is not listed as a Forclosure,it is currently for sale for $249,900.It is a three family with two garage spaces and 3,495 square feet of living area.All three units are rented with a gross rent of $2,550 per month.Feel free to contact me with any further questions.

Walter Harrington
Dimacale & Gracie Real Estate
59 Main Street,Ashburnham,MA.01430
Office-978-827-4018 ext.254
... more
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