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Home Buying in 27514 : Real Estate Advice

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  • Home Buying7
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Activity 6
Thu Jan 30, 2014
Ed Billings answered:
Certain locations within Chapel Hill are known for having a history of soil movement, while others are know for being "rock solid". If you suspect their may be a foundation issue, I've found the best course of action is to get an independent structural engineer to evaluate the situation. If there is no issue, they will issue a letter stating as such, which will give you peace of mind and assist you when you go to sell your home, down the line. If a remedy is required, they will determine the course of action and sign off on the repair.

I hope this helps.
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Fri Jun 29, 2012
John Goddin answered:
I would start with the other family members and see what they want to do with the property. If everybody wants to cash out, you sell all of it and split the proceeds. If one or more want to stay in the property, see if they are interested in buying out your share. If they are not interested in buying you out, you may be able to force the issue, but will need an attorney to advise you on that. You will probably need an attorney no matter what to make sure all paperwork is done correctly, an appraiser to place a value on the property if that has not been done recently (may have been done as a part of settling the estate) and an accountant well versed in these types of situations to minimize tax consequences. If the decision is to sell one or more properties to a third party, a good real estate agent will also be needed. Feel free to contact me if you need help. I have worked extensively with rental property and investors in this area for 28years and own investment property of my own, so am well positioned to give you good advice. ... more
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Wed Mar 24, 2010
Vickey Wachtel answered:
Here in Texas the buyer can get out of the contract for any reason if they have agreed to an Option Period, usually thats 10 days after the signing of the contract...this time is for inspections and time to negotiate repairs, if they need to change the closing date during that time and the seller doesn't agree then they can be released from the contract. If the seller does not want to close earlier than the agreed closing date on the contract the buyer can pull out of the deal but they would stand a chance of forfieting the earnest money. ... more
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Fri May 8, 2009
Rebecca Neighborgall answered:
1% is a rule of thumb, but it can vary depending on how your contract is designed. A buyer's agent ,who represents your best interests, will be able to help you negotiate the contract which would include how much the earnest money will be. Do you have an agent representing you?

Best of Luck,

Rebecca Neighborgall
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Sun Feb 15, 2009
Stanton Homes answered:
Here's an explanation of how to use the Orange County property tax site. Property tax depends on assessed value, not purchase price.

http://activerain.com/blogsview/552449/Orange-County-NC-Property-Taxes-How-Much-Will-Property-Taxes-Cost-in-Chapel-Hill-Carrboro-or-Hillsborough

Here is a table with the most recent rates.

http://www.co.orange.nc.us/revenue/tax_rates.asp
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