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Home Buying in 19063 : Real Estate Advice

  • All26
  • Local Info1
  • Home Buying7
  • Home Selling2
  • Market Conditions0

Activity 7
Mon Dec 3, 2012
John B. Gray, CRS, Broker answered:
The question is what does you budget look like and do you have sufficient reserves for unanticipated events. Assumption is that you qualify for the mortgage. If you do not have sufficient reserves, you are setting yourself up for a very unhappy home where your budget is so tight you can't breathe. At a 3.25% mortgage rate, you are shopping about $50,000 above the price you had originally looked at. If you can afford it and you have genuinely expected increases in income in the future and the house is what you want, you may be OK. The caveat is still..Do you have enough reserves for unanticpated contingencies? A front ratio of 45.7% is incredibly risky and may not be approved by the bank. If you have other monthly obligations: e.g. car payment, student loan, credit cards, child support, daycare, etc. Walk away! ... more
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Mon Dec 3, 2012
John B. Gray, CRS, Broker answered:
Some municipalities require a Certificate of Occupancy (CO) sometimes called a U&O, others do not for resale homes. New construction always requires one because the home needs to meet municipal code. Generally, municipalities now use UCC as opposed to BOCA code that they used to use. The extent that the municipality uses this depends upon the municipality. If there is a municipal code that requires a CO and you are buying a home "as is" you will need to complete repairs required by the munbicipality prior to moccuping the home or have a conditional CO with a time limit to complete the repairs. It depends on the municipality and inspector. ... more
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Mon Dec 3, 2012
John B. Gray, CRS, Broker answered:
Help-U-Sell charges a flat fee is correct. They EARN the fee regardles of whether the home sells or not. Some sell, some don't. Fee for service or full service agencies do not charge anything up front for the most part ,and are only paid if the home sells. The Agent/Agency assumes the cost of advertising, overhead, showing and negotiation on behalf of the Seller with the expectation of being paid ONLY if they accomplish their objective. It becomes a question of does the Seller want to do the work of marketing the property and negotiating face-to-face with the Buyer and/or Buyer Agent or do they want an ADVOCATE and counselor to protect their best interests. Personally with 37 years of Real Estate Sales experience as Buyer Agent, Seller Agent, Designated Agent and Dual Agent, I want an ADVOCATE to represent my interests and be an intermediary for me. It is my understanding that this is not how business is handled by Help-U-Sell. Generally, the Help-U-Sell model pays a cooperating agent their normal co-op fee. Therefore, savings are limited and Seller may not obtain the Best Buyer. The Seller needs to understand how much work is involved. Most of the general public does not understand what a good, competent agent does. ... more
1 vote 17 answers Share Flag
Sun Jun 19, 2011
John Leonard answered:
Hello again Robert,

As myself and others have said.... make an offer and see. same with a foreclosure or ANY property.

You should tread very carefully on these kinds of situations becuase they will be sold as is. The bank will not do ANY repairs whatsoever. So if you cannot afford a big unexpected repair bill after.... buy something else.

You would be very wise to pick an agent and work with them exclusively. I and every agent who has posted a reply before me are skilled and successful agents working in this area. Working with an agent does not cost YOU anything, but may prevent you from making a real mistake.


John Leonard
Long & foster
... more
0 votes 4 answers Share Flag
Mon Jul 27, 2009
Kevin answered:
Hello Irina,

Great question, usually the certificates that are needed when buying a house are certificates of use and occupancy compliance (where required) and then certificates for tax and sewer (where applicable) payments. The tax and sewer are usually taken care of by the title company who wants to "certify" that all outstanding bills are paid before insuring the title. The use and occupancy certificate is given when the home passes a basic inspection by a municipal inspector. Many municipalities in the Greater Philadelphia area require these inspections and if you would like more information I would direct you to click on "Municipal Information at the site below. Best of luck!


Kevin P. Comerford
Real Estate Agent and REALTOR
Residential and Commercial Properties
Coldwell Banker Preferred
610 E. Baltimore Pike
Media, PA 19063
Office - 610-566-1100
Office Direct - 484-468-1053
Mobile - 610-513-3478
Fax - 484-229-1290
... more
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Fri Jan 9, 2009
__________________ answered:
Is anyone able to comment on this listing. Feel free to email me as well.
0 votes 3 answers Share Flag
Sat Oct 4, 2008
Scott Godzyk answered:
I definately agree that this is deceptive, it is exactly what they are trying to do is get into more searches, however there are going to be alot of upset people who will get it in their search that wont see townhome, i agree that you need to hit the report button in your mls to keep it accurate. thank you for bringing up the subject as it does happen all the time and in all areas. ... more
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