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Home Selling in 19131 : Real Estate Advice

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  • Home Buying24
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Activity 7
Thu Jun 25, 2015
Cnndv2 answered:
if two people own a house together and one dies does it automatically become the sole property of the survivor
0 votes 7 answers Share Flag
Wed Aug 8, 2012
James Gordon ABR SFR SRS answered:
You should talk to a local Realtor®. My biggest concerns if I were in your situation would be over improving my home for the neigborhood, Zoning isssues and would they allow what I wanted to do. Spending way to much on an existing home because of "feelings".
A 2 family might be the best way to go. Your daughters plans may change in the future and this would give you the ability to rent out the other half for income.
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0 votes 3 answers Share Flag
Wed Jul 25, 2012
Alan Openshaw answered:
Hello Sherrie,

There are three parts to this.

1. The title. You are both on that.
2. The note. Only one party is on that
3. The mortgage. That is the promise of the property as security for the note.

The question is How is the property titled.

If the two people are tenants in common then upon ones death the property interest goes to the estate.
If the two people own as tenants by the entireity, the property interest goes to the other.

As for the note to the bank. If it is not paid they will foreclose as the property is their security.


PS I am not an attorney, but if you want a good Real estate attorney I can recommend one.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
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0 votes 1 answer Share Flag
Sun Dec 4, 2011
gabriel palotas answered:
Nej,
Realtors are not illusionist or magicians. They work, stage, a home in competition with a market that is not so robust. Before you take it out on the realtor ask yourself would you buy your house over an other house down the street even when the price competition is produced by home n listed as a Short Sale or Listed as a Foreclosure?
If you think that having more open houses is the answer you are wrong. The only viable attraction to buyers today is price and terms. Are you offering terms and price to compete? If yes shoot the realtor and have him displayed on your next open house.
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0 votes 14 answers Share Flag
Sun Dec 4, 2011
gabriel palotas answered:
Updating is like make up. Underneath is the evidence of age and imperfections that they are covering up.
Selling ones appearance as to impress others has indeed became a national trend.
Now I will speak for myself without attempting to offend ladies over 25. I am personally impressed by cleanliness, individualism above all being plain and natural with little surprises of body engineering.
A home that has become of certain age develops a personality just like a good shoe. It is comfortable for those that live in it. This rush to alter their homes on the advice of decorators to become completive with an other house down the street is as foolish as the woman who is sixty and wants to look 25.
Now here is the choice all those that believe that spending money for the wrong reasons is the right way to go think for a moment . If you reduced the price of your home in the first place what you were planning to spend to improve it . I have more confidence in letting the buyer see your house just the way it is and allow them to update it if necessary at their own expense and taste. A happy home sells that shows that it was lived in than decorated to sell and covered up with cheap camouflage of a face lift.
My mother applies the best logic to updating and over decorating . You cannot turn a Volks Wagon into a Cadillac.
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0 votes 4 answers Share Flag
Sun Dec 4, 2011
gabriel palotas answered:
The best time to sell a home is when YOU have a reason to.
Nej,
We have become a society that moves on the decision of others not of our own. The best answer is take control of your life and do the best thing that makes the best sense for YOU.
Trends like fashion, in music, or holidays dictate our course of action and find ourselves humming songs that we really never liked but grow on us from repetition. We shoppe till we drop on command because we have to.
We buy a home because interest rates were never this or that low. We buy cars, computers, televisions appliances because ours are made to be obsolete . We buy phones because we think we can live without them.
The real question is can you live without your home? Would your life improve if you sold your house today rather next year? This is a grown up question where there is one answer that counts and it's yours.

Buying or selling a house should never be manipulated by banks, governments. You will never loose on owning a home if you bought it for a purpose. In the recent years many of us are led to believe that home owners lost at least 30-50% of their values. If you are gullible you will believe it.
Just ask yourself if you were renting say for five years and decided to buy how much of the money you paid on rent would be credited to you ? Show me hows you get back one penny of those years of renting?
Millions are doing just that and I don't here them whimper. Paying just $1000 per month over 5 years is likely to cost for four walls $60,000. That is more money than the average person buys a house with.
The people that walked away from their homes on a large scale did because it became a national trend.
Those that kept it did it for reasons that have nothing to do with trends. They stayed because no matter what some one told them what their house was worth to them it was wort more and they decided to keep it.
I like people that are not swayed by popularity but think for themselves and take the blame or credit for their actions. If we just accepted that life throws us a curve now and than the best solution is to be prepared for it.
No one will ever feel sorry for you or help you keep your head above the water but yourself.
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1 vote 15 answers Share Flag
Sun Nov 16, 2008
Lacenia James answered:
In short, yes. The property can be sold as long as the liens are satisfied by either party as agreed upon at settlement. The city of Philadelphia is cracking down on those who owe real estate taxes of 50k or more. However, you do not want to take any chances on loosing the property due to tax liens. I suggest contacting a real estate lawyer ASAP before listing the property for sale. ... more
0 votes 5 answers Share Flag
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