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07202 : Real Estate Advice

  • All15
  • Local Info1
  • Home Buying8
  • Home Selling4
  • Market Conditions0

Activity 12
Mon Nov 4, 2013
Mary Petti answered:
Thank you :) I know how to unfollow and will do that. Just thought since the original tread was sooo long and had so many answers it didn't need to be rehashed again.
0 votes 19 answers Share Flag
Mon Jul 22, 2013
Fri Jan 18, 2013
Darwin Brito answered:
It's very possible to get a house with your credit score; however the interest will most likely be a slightly higher.
0 votes 2 answers Share Flag
Wed Nov 16, 2011
Sergio Hernandez answered:
Ask family and friends to recommend some Realtors. Ask them why they recommend the Realtors and if they would use them again. Once you have a few names and numbers, schedule some appointments and hire the Realtor you feel will do the best job. ... more
0 votes 10 answers Share Flag
Tue Nov 15, 2011
Jose Nunes answered:
Did you have a home inspection done ?
If so, did it make any issues of the plumbing ?

Another idea is, did you have any sheetrock work done in the house after closing ?
If so, I have seen spackle being found in the sewer after work like that is done, causing problems.

Contact me if you have further questions or need help.
... more
0 votes 9 answers Share Flag
Tue May 31, 2011
Debra (Debbie) Rose answered:
David - that's not how it is done in our part of NJ - we use attorneys not title companies for closings......either the seller's attorney or the selling agent 's broker hold the deposit.

So - did your last outing go?
Hope you had better luck!
... more
0 votes 13 answers Share Flag
Fri Apr 8, 2011
Gina Chirico answered:
As stated below, short sales can be very complex. As far as your actual question "Am I in the clear to look for another agent since the contract will be void", for starters, did you sign an exclusive buyer's agreement which would allow your agent to get paid on no matter what house you buy? If no, then you can certainly look for another agent but may I ask why are you unhappy with your agent? Are you using the listing agent to pay through i.e., the agent is now a dual agent representing both buyer and seller? Depending on the answer - if no, then why are you blaming your agent for the seller's lack of providing documents? If you are using a dual agent, do you think the agent is at fault for the sellers not providing the docs to the bank? What kind of documents are they looking for? Is it the short sale package or something else that the listing agent really has little or no control over?

I'm not looking to defend listing agents of short sales or get into any disagreements but sometimes a listing agent has done everything they possibly can but the seller has no motivation to short sell and its not the agent's fault. Although there are times when inexperienced agents list short sale properties and part of the blame is the listing agent's fault.

Getting back to your question -you can work with any agent you choose to but if you signed the exclusive agreement, the first agent may get paid no matter what. Look through your documents and see what you signed.

Good luck,

Gina Chirico, Sales Associate
Lattimer Realty
973-715-1158 cell
973-575-6353 ext 17 office
... more
0 votes 7 answers Share Flag
Thu Apr 7, 2011
John Ribeiro, Gri answered:
If the agent does not have a prior relationship with the attorney, then yes it is hard for an agent to get information, especially if the attorney has no office staff this makes it more difficult. I suguest that you and your attorney with your agent communicate via e-mail where everyone involved in the transaction get C.C. -ED on, like this everyone is on the same page I do this with my Buyers, Sellers, mortgage brookers and attorneys and the feed back is positive. No one is left out of the loop. All e-mails are saved until transaction is completed and their is an e-papertrail. Then if your agent still does not responde then you have proof and go to her broker and request another agent within the same office to service you better. The seller in this case the bank pays the commision and believe me they have been cutting our fees, and these short sales are a lot of work. ... more
0 votes 8 answers Share Flag
Thu Apr 7, 2011
John Ribeiro, Gri answered:
You are in a short sale situation, the bank has to give final approval, during this time if you have not heard back from the lien holder, (bank), and you decide to cancel the contract, you can. But let your agent or attorney handle that. Once both attorneys agree to release your earnest deposit funds from escrow than you receive your deposit back. At this point in time you should know who holds your escrow.
Your Buyer agent is limited to the seller's paperwork, so your agent is very limited on what she/he can do besides passing on information to you on the process of the short sale. In this situation she/he is the one that set appointments to obtain the certificate of occupancy, which you have to pay, in Elizabeth is $65 building and $40+ fire.
The selling agent or attorney that is handeling the short sale does not receive the documents in a timely manor than yes the lender will close the file. Then the whole process starts again.
Just because it is a short sale and you are most likely buying the property in as is condition, you are entitle to do a home inspection, at this point you should of have done, because if you wait until you hear from the bank, they give you 30 days to close, you do a home inspection and their are major issues with the house. Guess what you just waisted all this time for nothing.
... more
0 votes 7 answers Share Flag
Thu Apr 7, 2011
Marie Souza Team answered:
Contact your Real Estate Agent directly. They can help you withdraw the offer if you don't in fact have a signed agreement. Short Sales take a long time to go through. If it's a good deal, it may be worth waiting for!
Best of luck!
... more
0 votes 3 answers Share Flag
Mon Nov 8, 2010
How much do you have for down-payment? Getting a loan for $25K is going to be tough. Contact NJ-HMFA for downpayment assistant.
0 votes 3 answers Share Flag
Tue Aug 5, 2008
Jack Vollenberg answered:
Home buying is a very personal experience where one size certainly does not fit all. I'm intimately familiar with both Jersey City and Elizabeth and both are larger cities in NJ that have quite well-defined neighborhoods that offer different residential experiences for those living in them. My advice would be to contact local realtors who will take the time to really fit your lifestyle with the right neighborhood and then to walk around and experience life in those locales at different times of the day and week. Giving you a more specific answer than this via e-mail would actually be an injustice as you would not be getting the level of service you require to make this a successful and well-thought out move. Good luck! ... more
1 vote 6 answers Share Flag
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