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37013 : Real Estate Advice

  • All31
  • Local Info5
  • Home Buying14
  • Home Selling1
  • Market Conditions0

Activity 22
Sat Nov 12, 2016
Kathy Burgreen answered:
Understand that landlords are running a business and they want tenants with clean records, good credit and an income that can afford to pay the rent, utilities, food & gas. Obviously with a felony, you're rejected. If you have good credit scores (above 700) and a good income, you should be accepted. But if your credit scores are below 700 or you have a lower income, forget it. With a felony, that's 3 strikes - you're out.

You need to forget about starting a family or raising one. Your priority needs to be on finding someplace to live. A felony ruins lives. This is just the beginning.
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0 votes 2 answers Share Flag
Wed May 4, 2016
June Buerkle answered:
If you signed after the time limit ..... the other side could say you were late and refuse to accept it; but you can't say "I was late so we don't have a deal."

When you signed after the deadline, you effectively created a new offer with the same set of terms and if they accepted the late signature, the deal is still enforceable against you. ... more
1 vote 1 answer Share Flag
Thu Apr 30, 2015
Will Johnson answered:
20% is not mandatory. It is, however, the number that you need in order to avoid mortgage insurance (which is really just a waste of money). So, if you're not able to provide that down payment, you should be fine, but you will have to pay the insurance.

Best of luck to you!
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0 votes 5 answers Share Flag
Thu Apr 30, 2015
Will Johnson answered:
I'm not a mortgage expert, but it sounds like you need to consult another mortgage officer. Why are you stuck with this one? If you explain the situation, you should be able to switch, depending on who you're working with. At the very least, I feel certain that you should be able to talk to another mortgage officer to get a second opinion, even if you can't hire another one.

Sorry I couldn't be of more help!
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0 votes 1 answer Share Flag
Wed Mar 11, 2015
Will Johnson answered:
You should be, yes! Check out this information: http://www.va.gov/SURVIVORS/FAQs.asp#FAQ21
1 vote 3 answers Share Flag
Wed Sep 24, 2014
Barbara Reagan answered:
I am not an attorney, and am not licensed in your state, so the advice you received from Brian Copeland and the other Tennessee Realtors is advice that should carry strong weight. But much of question - on whether you can rescind your offer after the seller accepted it - will really depend on how your offer was written and what contingencies, if any, you have built into the offer. However, you should talk to your Realtor/Broker to find out what your options are before taking any actions to try to unilaterally terminate the contract - after all, it is a legally binding agreement. You may also want to speak to a real estate attorney familiar with your laws to see what options are available to you as well. Good luck to you.

Barbara Reagan
Long & Foster Realtors
Richmond, VA
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0 votes 7 answers Share Flag
Wed Aug 13, 2014
Karen Peyton answered:
At this point, it is best for you to seek legal advice. Many states have air-tight laws that protect the rights of tenants. In those states, any notice "improperly" served for payment and/or eviction will render them useless and the number of days from one (notice) to the next to start again. The type of attorney you need is one who handles landlord/tenant matters which may also be "Google-able" under "evictions."
Best of luck to you.
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0 votes 1 answer Share Flag
Tue Apr 8, 2014
Don Tepper answered:
Wrong.

They're not supposed to accept your offer.

They'll accept the best offer. If one doesn't go through, they may--or may not--accept the offer that (in their opinion) is second best. And that's not always the second highest.

Example:

First Offer:
$100,000. 20% down. Good credit history. Minor contingencies.

Your Offer:
$98,000. 10% down. Weak credit history. Major contingencies (such as selling your present house).

Third Offer
$93,000. All cash. No contingencies; buying in "as is" condition.

A lot of people would choose that third offer, even though it's $5,000 less than yours.

A seller can choose to accept, reject, or counter any or all offers.

Hope that helps.
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0 votes 5 answers Share Flag
Tue Apr 8, 2014
Rob Foglia answered:
Hi, are you still looking for an affordable 3 BR home? If so, please contact me, I have a beautiful 3 bedroom townhouse available in your area that you may love! Thanks!
0 votes 6 answers Share Flag
Tue Dec 24, 2013
Bailie Rhea Hodges-Marrero answered:
Hey Lisa!

So sorry no one responded to your question!

I am going to attach a link that will allow you to look up any and all event's here in Nashville/Middle Tennessee!

From Halloween events to small concerts in tiny venues. This is a great website.

Hope this helps you out for many years to come!

If you are ever in need of any real estate services. Please keep Paul and I in mind.

Happy Holidays!
-Bailie and Paul
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0 votes 1 answer Share Flag
Sun Dec 15, 2013
Bailie Rhea Hodges-Marrero answered:
Normally in this scenario I would ask my client if they are looking to rent or buy. There are many more choices if you are going to buy. All of these options(in your price range) I would estimate to be a minimum of 15 minutes from downtown Nashville.

As far as rentals go I would recommend Nashboro Village. The area is nice and fairly close to downtown (less than 10 miles). Also the cost of living is much lower than other areas of nashville (gas, food, etc.) I call this area the bang for your buck area. Your price will get you a spacious apartment meeting your specfications, with a fitness center included. They also have tennis courts and a golf course. If this area is not to your liking do not fret, there are many other areas available.

When it comes to buying a home it's much different. I would rather you personally investigate each home. There are many homes all over Nashville that the mortgage would be $800 or less. We would provide market analysis as well as personal insight to ensure that you made the best decision you could make.

Either way we are always available to answer any questions you may have. We strive to exceed our clients expectations and provide a hassle free environment. Call us anytime we look forward to hearing from you.

615-400-8515
-Bailie and Paul
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0 votes 1 answer Share Flag
Sun Dec 15, 2013
Bailie Rhea Hodges-Marrero answered:
Here is a link to a website that will allow you research any properties you have questions about.

https://www.crimereports.com/

I hope this helps. Please feel free to contact us directly with any questions you have.

615-400-8515
-Bailie and Paul
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0 votes 2 answers Share Flag
Sun Dec 15, 2013
Bailie Rhea Hodges-Marrero answered:
Normally in this scenario I would ask my client if they are looking to rent or buy. There are many more choices if you are going to buy. All of these options(in your price range) I would estimate to be a minimum of 15 minutes from downtown Nashville.

As far as rentals go I would recommend Nashboro Village. The area is nice and fairly close to downtown (less than 10 miles). Also the cost of living is much lower than other areas of nashville (gas, food, etc.) I call this area the bang for your buck area. Your price will get you a spacious apartment meeting your specfications, with a fitness center included. They also have tennis courts and a golf course. If this area is not to your liking do not fret, there are many other areas available.

When it comes to buying a home it's much different. I would rather you personally investigate each home. There are many homes all over Nashville that the mortgage would be $800 or less. We would provide market analysis as well as personal insight to ensure that you made the best decision you could make.

Either way we are always available to answer any questions you may have. We strive to exceed our clients expectations and provide a hassle free environment. Call us anytime we look forward to hearing from you.

615-400-8515
-Bailie and Paul
... more
0 votes 2 answers Share Flag
Sat Apr 20, 2013
Prentiss Holt answered:
I have some experience in building and contracting, and I can definitively say that yes, some of your expenses can be tax deductible!

There are many state and federal plans available which allow you to take certain expenditures for home improvements off your taxes. These are primarily related to those expenditures which increase your home's energy-efficiency.

If you have any other questions, please feel free to contact me here on Trulia or at my website!
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0 votes 3 answers Share Flag
Sat Jun 2, 2012
Edith Karoline Jasser answered:
You know it is easy for you to find out about the schools by going on the internet and putting in School report cards for Murfreesbory TN.... then you can also visit those schools that you feel may fit your sons needs, but then once you determine your schools of preference then a Realtor can assist you in looking only at homes in those area (remember though that school districts sometimes change be prepared)....

On Google Map you can search for the location of almost anything surrounding a certain property, but your trusted Buyers Agent (and you should not try to find the right property by yourself, so many things to consider, not just the parks, schools and shopping), construction of the home, amenities, right price for the area, upkeep, monthly expenses etc. etc. DO NOT DO THIS ON YOUR OWN.
Buyers Agent will protect you, your interests and work exclusively on YOUR behalf, free to you inmost cases for as long as you will be buying a home that is listed with a brokerage/Realtor, as he or she will be paid out of the sellers proceeds at the closing table.

Do not do this on your own, much easier and much more pleasant and successful if you have
a trusted Realtor on your side and commit to one person!


EdithSellsHomes@gmail.com
For @ Properties Northshore, 30 Green Bay Rd, Winnetka, Il. 60093
Covering the city of Chicago, all N and NW suburbs, and all fine homes on the North Shore
Working always in the very BEST interest of her clients Edith always goes the X-tra Mile
with a SMILE for all her clients :)
Edith Speaks among other languages French, German, English, Spanish ....
Worldwide services and anywhere in the US available
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0 votes 1 answer Share Flag
Fri Jan 6, 2012
Ron Thomas answered:
May we assume that you've had your Agent check back with the Listing Agent?
It is de rigeur nowadays that if you didn't get it, they will simply ignore you.
Sorry, I didn�39;t write the rules.

Good luck and may God bless
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0 votes 3 answers Share Flag
Wed Jan 6, 2010
Marilyn Bell answered:
This is one of those times where Dave Ramsey would probably ask you about your situation in reverse. If you didn't already own that investment property, would you put yourself in a position where you were struggling with your primary home to purchase an investment property that doesn't collect enough rent to cover the rent and is worth $20K less than you pay for it?

I agree with Kevin that you should talk to someone, however if it were me, I'd be talking about how I could get out from under the home. If you're insistent about keeping the home (because pretty much every option you have to get out from under the home will damage your credit - albeit that can be overcome in a couple short years) I would consider trying to sell it via lease purchase. You can often collect a higher rent that way.

If you can't find anyone who wants to lease purchase it, I would also look into renting it out to Section 8 tenants. Section 8 means you collect market rents (granted, rents are down in your area) and often with most of it paid directly to you by the government. That can relieve some of the stress of renting the house.

It sounds like you are precariously close to an even worse situation. One month of a tenant not paying rent or one unexpected repair can change things for you for the worse. I hope you can figure out a solution before that happens. One ray of hope is that I actually know people who have had their payments go down recently due to resets. I wish you good luck and hope for the best!
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0 votes 2 answers Share Flag
Wed Jan 6, 2010
Marilyn Bell answered:
I would contact your lender first. Depending on the mortgage company, there may be a hardship package that needs to be completed first. They may also have a time requirement for the home to be on the market that would result in the lender being paid in full. For example, they may require the home be on the market for 6 months before you can reduce the price to an amount that would result in a short sale. And as Gloria advised, it is highly beneficial to use a short sale negotiator. Can you do one without one, technically yes. Are your odds much better to get the short sale closed with a negotiator - absolutely! ... more
0 votes 5 answers Share Flag
Mon Jan 4, 2010
answered:
I'm not familiar with using NPV for a loan mod. I've found that the borrower must have at least a 35% DTI (debt to income) ratio in order to qualify. So, you may have to fudge your utility bills to come down or go up to get to that number. If you're too low percentage wise, they may turn you down because you don't need it. If it's too high, it's because you can't afford anything. Other factors include but are not limited to: Loan to Value, area of property and foreclosures in area, lender (wells fargo doesn't foreclose for up to 12 months), mortgage history in the past, and how often you call them to update on your situation. Those who don't call, don't get as much attention. ... more
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