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08330 : Real Estate Advice

  • All25
  • Local Info3
  • Home Buying13
  • Home Selling1
  • Market Conditions0

Activity 19
Sat Aug 12, 2017
Kathy Burgreen answered:
Are you working with a realtor? Title company? They will know exactly. I can tell you between the high property taxes, HOA fee if any, etc. closing costs in NJ is not cheap - even if you pay cash. ... more
0 votes 1 answer Share Flag
Sat Jul 9, 2016
June Buerkle answered:
No credit is not as bad as poor credit or a lot of negative marks.

With a limited credit history, you will need either a strong income with solid work history, or healthy cash reserves to cover several months of rent.

That's what I look for to qualify college student renters.
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0 votes 1 answer Share Flag
Thu Apr 7, 2016
Kathy Burgreen answered:
I'm a former realtor and honestly save your money - do not get your license. For starters, your question shows that you don't know how the industry works, so a brief education...

1. As a realtor you are self employed. This means you are required to find your own leads, spend your own money for everything and you don't get paid until a transaction has closed. Repeat - brokers are not responsible to give you leads. You have to find your own leads.

2. The broker that you sign up with is responsible for your actions but is not your supervisor and cannot tell you how to do your job or what hours to work. However, depending on the broker there are policies in place that brokers will not tolerate and if you cross the line, they can terminate your contract with them. Example: if you post online a reply that may violate any part of the Fair Housing law, they can terminate you.

3. Researching commission structures among the different brokers is important but you need to research all the fees involved. You will have to pay these fees upfront and if you don't have the money, it can be a deal breaker.

4. How much money do you have to spend on marketing and advertising. This comes from your savings or if you work part time at another job - your income. Marketing and advertising yourself to get leads is expensive.

5. Will you be working as a realtor part time or full time? The difference is your clients expect you to be available on their schedule - not yours. If you work part time, this may interfere and it will take you twice as long to get a transaction closed than a full time realtor.

6. Example of fees that you have to pay for: broker fee, legal fee, MLS fee, lockbox fee, education, desk fee (some brokers charge for this, some don't), etc.

7. Yes, you can save all your receipts and deduct your expenses on your income tax return BUT you still pay for it upfront.
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0 votes 1 answer Share Flag
Thu Sep 24, 2015
Dan Tabit answered:
Memappm,
Only a lender with a full application can approve or deny you, but I have concerns for your debt ratio. Even with $1000 a month income that would be a 65% debt to income, if you have no other debts. Talk to a local lender and give them a fuller idea about your situation before you apply. They can go over the guidelines with you for a better idea. ... more
1 vote 1 answer Share Flag
Tue Aug 11, 2015
Kenji Inui answered:
Wed Jul 30, 2014
Lorraine Marek answered:
Great Community to check out is Artists Walk. Call me if you would like information 609-464-2012
0 votes 8 answers Share Flag
Thu May 9, 2013
Carrie Cahill answered:
I think there is a lot of good advice here, but one thing I would keep in mind, you do not want to end up with someone starting the eviction process on you. As a landlord, one of the first things I check on a potential tenant is eviction history. Many landlords won't even bother asking for an explanation of why you were evicted as in this case it wouldn't be your fault... They will simply see "eviction" and put you on the bottom of the pile.

If the home is going into sheriff's sale, as stated by others, there are many laws and statutes that are there to protect you as the tenant. I think the advice on contacting http://www.njpublicadvocate.gov is very good advice. Don't do anything until you understand the ramifications of your actions. Don't just stop paying rent on your own because you want to get out of this lease without it affecting your ability to rent in the future.
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0 votes 6 answers Share Flag
Thu Mar 28, 2013
Helene Jeanette answered:
Holly is spot on. You might be able to do 0% down for a USDA or VA loan (if eligible), 3.5% for FHA, 20% for conventional, programs like "live where you work," or you might find seller financing.

I'd love to put you in touch with an expert in this area who has done all of these and can help guide you to the best option for you. Please contact me at http://www.randolph-chester-homes.com or at Team-Helene@KW.com or just call: 973.207.9803 and let's talk.
Leni
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0 votes 3 answers Share Flag
Thu Feb 28, 2013
Evergreen At Timber Glen asked:
Sun Aug 12, 2012
Debra (Debbie) Rose answered:
Well........
Do you like having a high level of privacy?
Do you like having your own backyard to putter around in?
Do you want the freedom to paint your house the color you want, or add on if you want?

All of the above may be reasons to go with a single family home, as you are the master of your domain!!!

:)

In a townhome you will give up some of the privacy - most likely you may share a dirveway, and have at least 1 common wall.......you won't be able to make any exterior changes and will have to abide by the bylaws of the homeowner's association.
(I can't even put up hanging plants outside!)

Have you ever owned a home?

I did for 22 years, and it was great while my son was growing up...... now I am enjoying townhome living.....and......am happy not to deal with landscapers or snow removal people or gutter cleaners or new roofs or exterior painting.......all of that is taken care of in my complex...........that's a big plus for me..........

Ask yourself what is important and would be a plus to you!
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0 votes 2 answers Share Flag
Fri Dec 17, 2010
Phil DiGiacinto answered:
If you want the home and are willing to wait, sign it, but I would ask your agent why the delay?
0 votes 4 answers Share Flag
Mon Dec 13, 2010
Nycdrone-53799 answered:
They are playing poker with you and trying to squeeze every last bit from you because you've already probably let on that you love this house by offering more than listed, or simply saying it.

Tell everyone , including your realtor that you have a funny feeling about the whole thing and have to think twice but don't burn any bridges. In the meantime, get yourself some other options by getting another realtor and looking at more properties.
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0 votes 21 answers Share Flag
Sat Dec 11, 2010
Jessica Nooney answered:
Absolutely consult a real estate attorney who can guide you through the proper course of action. Have your inspection reports and Seller Disclosure Statements available for review. The information disclosed by your inspectors and the previous owners will be vitale. I also believe the statute of limitations for litigation in real estate matters is 7 years, so contact an attorney as soon as possible.

Best of luck to you!

Jessica E. Nooney
Weichert Realtors
(609) 654-8633 Ext. 121
(609) 276-8183 (CELL)
(609) 479-5333 (Direct Fax)
jnooney@weichert.com
www.yourjerseyrealtor.com

"Helping You Reach Your Real Estate Goals - Buying or Selling"
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0 votes 3 answers Share Flag
Tue Dec 8, 2009
Jeff K answered:
You may wish to consider beaches in nearby Delaware. Prices are much better and property taxes vastly more reasonable. But they may not work for your intended needs. Just my 2 cents!
0 votes 7 answers Share Flag
Wed Jul 22, 2009
Don Tepper answered:
Very good analysis and suggestions by William.

And I'm not a lawyer, either, so this isn't legal advice. However . . . .

Regarding the validity of your lease (and thus your obligations and those of the owner or the owner's representative) It's totally irrelevant whether your landlord committed forgery.

The questions are: (1) Do you have a valid lease? And (2) Are you and the owner in compliance with the lease?

You need a lawyer to sort out the issues, and to focus on the relevant facts.
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0 votes 8 answers Share Flag
Sat Jul 18, 2009
Fred Griffin answered:
In 1994, the New Jersey Supreme Court held that the New Jersey Anti-Eviction Act protects tenants even when the property where they live is in foreclosure or has been foreclosed.


http://www.state.nj.us/publicadvocate/public/issues/tenants_…



As for "Non-Payment" - you do have canceled checks, or money order receipts, or a signed receipt for the rent payments that you made, right?


-----------------------
Best wishes to you,
Fred
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... more
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