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Home Buying in 30064 : Real Estate Advice

  • All36
  • Local Info6
  • Home Buying13
  • Home Selling8
  • Market Conditions0

Activity 13
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
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
Palm Harbor,FL
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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:
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:
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
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0 votes 8 answers Share Flag
Thu Nov 21, 2013
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... more
0 votes 7 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
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:

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?

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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
Mon Aug 16, 2010
Ken Cook answered:
Mark is right. We hire local agents to handle the process. Sometimes they will do a "cash for keys" with the home owner to make sure all of the trash is gone - the property is "broom clean". If you provide the service you'll need to meet the agents from your area who typically handle the process. Unfortunately there is plenty of work available right now. ... more
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Wed Feb 10, 2010
Anna M Brocco answered:
Visit with any qualified loan officer(s) but also consider--lenders don’t know are borrowers’ non-debt spending habits, present and anticipated. You, the borrower, need to consider the economic factors of your lifestyle that would impact on your individual comfort level of affordability. A mortgage outside your budgetary constraints can dramatically alter your overall living conditions. So, be sure to factor micro and macro economic concerns into your mortgage amount deliberations ... more
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