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30064 : Real Estate Advice

  • All35
  • Local Info6
  • Home Buying13
  • Home Selling8
  • Market Conditions0

Activity 26
Tue Aug 23, 2016
Solomon Greene answered:
Hello Ms. Lawson,

Please look over your listing agreement for the protection period. My interpretation of that clause (though I am not an attorney) is that you may not sell the property to anyone who viewed the property during the time while it was listed. You wrote here that this buyer saw the property before it was ever listed. If there is any documented proof of that, you may be OK. Of course, it would be wise to consult a real estate attorney for a legal opinion. But it sounds like you may be OK.

Should you decide to list after all, I'd welcome the opportunity to speak with you.

Hope that helps.
Solomon Greene
678-775-2677
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0 votes 1 answer Share Flag
Fri Mar 4, 2016
Mark Burson answered:
As a Broker in Georgia, I understand your question! Congratulations! You performed due diligence and got your answer. In Georgia the rule of caveat emptor applies (let the buyer be ware). The Seller Disclosure in this case might favor you had you not discovered the easement. Georgia courts would likely acknowledge no harm no foul. You discovered, the contract was voided, and your earnest money returned. Your time and expenses were your due diligence as you initiated the appraisal. That is a contract between you and your appraiser. All is well that ends well. ... more
1 vote 3 answers Share Flag
Fri Jul 17, 2015
NewAgentGA asked:
I am considering joining Keller Williams after obtaining my real estate license. Does anyone have any information on Keller Williams as a whole? I was thinking of joining a "team"…
0 votes 0 Answers Share Flag
Thu Oct 30, 2014
Diane Christner answered:
Bank of America typically takes 2 months to respond to a short sale offer, so waiting 15 months for a response seems excessive. Who is handling the short sale negotiations, the listing agent or a professional negotiator? Have they been actively staying in contact with Bank of America regarding this transaction?

Does your contract have a short sale addendum? It should. The short sale addendum has a blank for selecting a deadline for written response time on acceptance by seller's lien holders, typically 90 or 120 days. Once the deadline is reached the buyer may walk away from the contract, unless both parties agree to extend the deadline.

Buyers and sellers can renegotiate terms such as price and amend the contract as long as the seller's lien holders have not already agreed to the previous terms accepted, which appears to be your situation.

The more important question may be - why haven't you heard back from Bank of America since the offer was submitted more than a year ago???
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0 votes 3 answers Share Flag
Wed Oct 29, 2014
Annette Lawrence answered:
As others have stated, the viability of the association is of crucial importance to you.

As a buyer, upon placing a purchase offer, are entitled to review the financials of the association and master association if applicable (and other documents). However, this does not address your real question...'How do you interpret the data?" Data without interpretation is meaningless.

I'm sure you realize there is more to this than can be answered in an internet Q & A session. That is why this is included in my FLORIDA CONDO BUYERS GUIDE.

If you are buying in the Tampa Bay Area I'll be happy to send you a digital copy.
Or, pick up the phone and call a REALTOR in the destination location for more information.

Best of success,
Annette Lawrence, Broker/Associate
Remax
Palm Harbor,FL
727.420.4041
http://youtu.be/HbOkYVQ43A8
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0 votes 4 answers Share Flag
Wed Oct 29, 2014
Diane Christner answered:
Things like painting, installing new appliances, updating lighting and plumbing fixtures are all generally acceptable condo improvements. However, major renovations like knocking down walls typically require the written consent of the condo association.

If you know you will want to do major renovations such as taking down a wall or adding a washer/dryer, make it a written contingency to your contract that you get written verification before closing from the Board of the condo association that the renovations you want to do after closing are at least permissible, subject to final Board approval of the actual plans.

I would suggest you start with reading the condo documents carefully as they pertain to renovations and altering of the units (condos), including when special permission is needed from the Board.

Put any questions to the condo association / it's management company in writing, even if it is by email.

You would think that putting in a washer would be a simple request, but in terms of condos it is not. Many condo associations (especially older ones) will not allow individual units to have washers due to potential plumbing isses. Condo associations typically have specific rules as to hours when renovation/ construction work can be done, access for contractors/workers, parking of contractor/ worker vehicles and equipment, etc.

Good luck with your purchase and happy renovations.
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0 votes 2 answers Share Flag
Mon Oct 27, 2014
Dan Tabit answered:
Gluchus,
Part of the process of buying a condo is doing a lot of due diligence. One report you'll get is called a Resale Certificate. It contains the meeting minutes, financials, CC&R's and lots more information.
I'd want to know the age of the building and what major work has been done recently. How much money they have in reserve, planned projects and known issues that will become future projects.
You become the owner of your unit, but a shareholder of X% of the entire complex. A good Association understands maintenance needs to be done and repairs and replacements need to be anticipated. If the complex is 40 years old and the boiler is still original, have they had discussions about it? If the roof has never been replaced, are they setting aside enough money to get that done without a huge special assessment.
Some complexes focus so hard on having low dues, they don't have anything in reserve when something happens. If you own and sell before it does, you got out good. If you are the unfortunate buyer anticipating low dues, only to find out you need a new roof, boiler, paint and other major items your dues could triple.
Find out all you can as early as you can while you have ways to get out of the deal. Having an agent that knows about condos and what to look out for can be invaluable. Best of luck.
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0 votes 1 answer Share Flag
Fri Jun 27, 2014
Wolfert & Wrenn Real Estate Team answered:
Either you're not in the MLS, your in it but with incorrect information, you're priced incorrectly or the marketing is insufficient. Is the agent trying to double side the deal by bringing the buyer too? Did you agree to allow them to do dual agency? Have you googled your listing to see how and where it's showing up?

There are lots of possible reasons. I recommend you ask these questions and do some research. Then, discuss it with your agent either get satisfactory answers or hire someone who will do the right job - like me!

Barry Wolfert, Associate Broker
Wolfert & Wrenn Team - Keller Williams
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0 votes 13 answers Share Flag
Fri Jun 27, 2014
Wolfert & Wrenn Real Estate Team answered:
Pricing your correctly will bring in not only more buyers but the right buyers. There are lots of "tricks" such as allowances, bonuses, etc but ultimately, if you're not price correctly, you're going to wait longer and sell for less. I have the market stats to prove this.

Let me know if you'd like to discuss a marketing plan and pricing that will get you sold.

Barry Wolfert, Associate Broker
Wolfert & Wrenn Team - Keller Williams
... more
0 votes 17 answers Share Flag
Fri Jun 27, 2014
Wolfert & Wrenn Real Estate Team answered:
The best thing to do is work on your credit. Renting to own, also called a lease purchase, is not easy and the seller is going to want more security due to your low credit. Best thing to do is get with a good lender and get things fixed. We have great lender partners. Let me know if you'd like to be referred to them.


Barry Wolfert, Associate Broker
Wolfert & Wrenn Team - Keller Williams
... more
0 votes 8 answers Share Flag
Thu Nov 21, 2013
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0 votes 7 answers Share Flag
Fri Nov 16, 2012
Terence Richardson answered:
Rohan, I hope you were successful in getting it priced right so it sold in time to not lose out on that other home you wanted. Matthew was spot on on this one.
0 votes 25 answers Share Flag
Fri Nov 16, 2012
Terence Richardson answered:
Based on all the great answers here I am sure you have received the insight you were looking for. My personal thoughts on the matter are that it depends. When I list a home, I am marketing it to create as many opportunities as possible that go beyond simply listing it in the multiple listing service (MLS). The MLS will yield showings from other agents working with buyers. Outside of the MLS, listing syndication to websites such as Trulia, Zillow, and many others, as well as your listing agent's marketing methods will create additional opportunities for the listing agent to show the property or have someone on their team show it.

The bigger question would be, if your home is priced right, shows well and sells at a price that is acceptable to you as a seller, does it really matter how many times your listing agent showed it? The end result and the expectations set towards achieving that result are what really matter in the end. I think that we, as agents in this industry, need to set better expectations with our clients overall.

Have a great weekend!
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0 votes 34 answers Share Flag
Fri Nov 16, 2012
Terence Richardson answered:
Hopefully you have found the solution to your answer by now. If not, we need more information to provide you with a more accurate assessment. Either way, I hope you would have received that guidance from your agent and have sold by now! Have a great weekend. ... more
0 votes 5 answers Share Flag
Mon Oct 1, 2012
Anthony Miller answered:
I am a new Realtor and I can speak from personal experience and tell you that anyone who views open houses and paper ads as a waste of time and money is wasting your time and theirs. As a new Realtor I am very 'hungry' and anxious to do my first listing and I can tell you that I will be doing everything possible to get my clients as much traffic as possible and keep them highly satisfied from listing to close and from searching to close. The n umber one source of buyers is other agents so open houses and ads/flyers definitely are a must to help support this.
Feel free to check out my site http://anthonymiller.yourkwagent.com/
If you have any further questions please contact me.
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1 vote 19 answers Share Flag
Mon Mar 19, 2012
David Herren answered:
Really?

Let's turn your question around and then maybe you will get a useful answer. You will get as many suggestions as people who answer this question, so tell us, how will you decide which answer to your question is the best one. Be specific and detailed. Start by telling us your credit score and income. Then tell us what you mean by good schools and low crime, compared to what? Oh and you said you are "...looking to settle in a nice with good...? Nice what; state, city, home, box?

Really!
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0 votes 4 answers Share Flag
Mon Mar 19, 2012
David Herren answered:
In a nutshell, I advise my clients the same way whether the price is a little high or a lot high. I show them the comparable properties, inform them of the consequences if they are financing the purchase, and let them decide.

Negotiations start with the buyer's offer.
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0 votes 15 answers Share Flag
Mon Mar 19, 2012
David Herren answered:
All I would add to the comments below is that listings tend to expire without selling and without being renewed because the owner wanted more than buyers were willing to pay. Be ready to pay above market price. ... more
0 votes 8 answers Share Flag
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