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53704 : Real Estate Advice

  • All6
  • Local Info1
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 5
Thu Jul 14, 2016
Heath Borne answered:
Drowwen, I'm a realtor in Louisiana, so the laws may be different in Texas. Even so, I am in no way, shape or form giving you legal advice. However, the important thing to remember is your rights. In Louisiana, after an offer has been accepted and a home is "under contract", there is a due-diligence period in which an inspection can be done. During this period, you may back out of the contract if the inspection comes back with any defect that is unacceptable to you. This due-diligence period compensates for the fact that in Louisiana all buyers of immovable property (called real property in every other state) must sign a waiver of a right called redhibition, which is a law giving buyers of real estate a time period in which they have to ask for damages in the event that a "vice" or defect that a buyer would, if aware of before entering into a purchase, have made the decision not to buy. With that being said, there are many defects that will prevent FHA from financing a home. I cannot speak for them, so I won't. However, while I'm not an appraiser and cannot and will not speak for them as well, I've seen appraisers flag the following defects (this list is not exhaustive or indicative of all transactions, but is meant to be a "rule of thumb"): peeling paint on the exterior of a home, holes in the walls or ceilings, missing stoves, plumbing or electrical problems, various types of roof damage, rotting wood, or even bare wood with no paint. I hope this helps. Feel free to check out the FHA website for more info, and be sure to let us know if we can help you or anyone you know with real estate in Louisiana! Heath ... more
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Mon Nov 17, 2014
Michelle Yoo answered:
I never tell my clients exactly what price to offer because it has to be a personal decision (how badly do you want the house). But I do give them typical ranges that are useful: ex:"This home is new on the market, I spoke with the list agent and the sellers don't need to move soon so are holding out for close to their list price. It looks fairly valued compared to other sold homes in the neighborhood. In these cases, most offers start within x% of the list price and end up around x%. I think anywhere in a range from ____ to _______ would be reasonable. I wouldn't suggest going below ________ because it will likely get the seller emotionally offended and he'll be less willing to negotiate."

Even if your agent is your landlord, you have the right to be properly represented and I would push to do so. This is likely the biggest purchase of your life, it needs to be handled correctly.
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Tue Oct 29, 2013
Annette Lawrence answered:
Chris is correct.
The data appearing on Trulia has NO RELATIONSHIP to what a real estate agent enters into the local MLS. Trulia receives data from ListHub. Both ListHub and Trulia, change, remove, substitiue, suspress, replace, modify, and misrepresent information as it suits their business purpose.
Furthermore, this information will now EXIST FOREVER on these sites. Interior images, maybe floor plans, vido tours, all avaialble for anyone who might mean harm. Citizens need to hold real estarte professional repsonsible for not advising the buyer or seller of the residual risks this presents.
Your next step needs to be to go to Google Maps and blur the image of your home. Google Street maps has proven to be the favored resource of rent scams and 'too good to be trule' lease options.
Best of success in getting your Trulia/Realty Trac issue fixed.
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
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Thu Oct 4, 2012
Curtis Niglis answered:
Try and go to rentals. Or you can try Craigs List.
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Fri Aug 14, 2009
Matthew Bartlett answered:
Hi Greg,

Closing costs are negotiable. In this current market it is not uncommon for buyer's depending on the seller's situation to negotiate the buyers closing costs to be paid for by the seller. If it's a bank owned property, priced under market value you will have a more difficult time getting the bank to agree to pay your closing costs. This is a great reason why you should use a Realtor that is experienced in selling homes especially in the REO process. Good luck!

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