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25177 : Real Estate Advice

  • All10
  • Local Info2
  • Home Buying4
  • Home Selling0
  • Market Conditions2

Activity 9
Patty Sines, Real Estate Pro in St Albans, WV
Sun Jan 18, 2015
Patty Sines answered:
They don't rent out foreclosure homes, look up rentals online. If you dont have a realtor get one if you a recommendation i will give one mike bell. good luck
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Becky Johnson…, Real Estate Pro in Canton, MI
Wed Aug 28, 2013
Becky Johnson, ABR, e-Pro, CNE answered:
Check crime info and other cool info at: http://www.zipskinny.com
0 votes 2 answers Share Flag
Mary Ann Hess, Real Estate Pro in Hurricane, WV
Sun Jun 2, 2013
Mary Ann Hess answered:
Some great responses by my real estate associates. I love the fact you are seeking advise early in the adventure of looking for a home. You should check with several lenders because you may be able to buy NOW. You may need very little money to buy, depending on your income level and types of loans you would qualify for. If you have 20% of the cost of the home price you expect to purchase you are already in fantastic shape to buy (i.e: $100,000 x 20% = $20,000 Down payment) , but you may need next to nothing. A qualified lender who handles ALL loan types would be best to help you determine what you need to begin the home buying process. Of course, I would suggest you check with several realtors before you select one to work with you. Make sure your realtor has your best interests at heart and is not looking to just get you to buy a home unless you are sure it is the right home for you. One of my favorite pearls of wisdom is: "While it is a great time to buy a home, it is never the right time to buy the wrong home."

If you have any other questions, don't hesitate to contact me.
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Mary Ann Hess, Real Estate Pro in Hurricane, WV
Sun Jun 2, 2013
Mary Ann Hess answered:
It is a serious matter for a seller to default on a real estate contract. If you read your contract, it will address your legal options. You should contact a real estate attorney to advise you on what actions may be the legal recourse for your specific situation. As a real estate agent, I would be glad to help with some names and numbers. ... more
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John Walin, Real Estate Pro in Libertyville, IL
Tue Feb 26, 2013
John Walin answered:
I agree with Tim, straight rental for 2 years and reassess then. Option to buy locks you in a price now for two years hence. Sellers tend to be overly optimistic and you may well end up having a contract price over the market price then. Also, rent options typically have a rent premium that is nonrefundable against the purchase price. So your paying jacked rent for 2 years to get right of first refusal.

if you like my answer, thumbs up me and best answer, thx!
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Keith & Kins…, Real Estate Pro in Verona, WI
Fri Oct 12, 2012
Keith & Kinsey Schulz answered:
When you sell your home should be based more on want and need then market conditions. We've sold 3 of our own properties in a down market (one our residence, one former residence/rental at the time, and the third just a rental). Why, because we wanted to build a home that we could be in more long term and start a family.

Even though, it was not the ideal time to sell, we are much happier with our current situation. I would not have been happy sitting in our condo waiting for several years for the values to come back up.

All this to say that it's a personal preference decision, not a market decision.
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Maria Morton, Real Estate Pro in Kansas City, MO
Fri May 1, 2009
Maria Morton answered:
Drake20, this will depend on the other homes in the neighborhood. It sounds like you have done quite a bit and, providing the comps you referred to are similar to yours, you may be able to recoup your money in a several years. Check with a local realtor to get a more accurate picture of how your home compares to others around you. We need to see inside and out of your home before being able to accurately compare it to the recently Sold, Pending, Active, etc. listings. ... more
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Diane Glander, Real Estate Pro in Spring Lake, NJ
Tue Sep 25, 2007
Diane Glander answered:
Ute,
I agree. I did tell her to consult with an attorney, also. Issues like whether or not a home inspection was performed will affect the outcome, too. It may be that they have a case against an inspector who did not pick up on damage in the inspection report. The prior homeowners may not have known of the damage, so did not disclose it. Perhaps the owners before them patched it and didn't disclose. It's a difficult case to prove.
As real estate agents, we cannot give legal advice. Just our opinions. I did, however, tell her to contact an attorney. She's in VA, afterall. Not NJ, not CA. Thanks for the SOL info about CA, though. I think they are less restrictive than here in NJ.
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