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Home Buying in 80127 : Real Estate Advice

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  • Local Info0
  • Home Buying6
  • Home Selling3
  • Market Conditions1

Activity 6
Sun Jul 24, 2016
Sally Grenier answered:
What does your contract say? Did you sign a buyer agency agreement? If not, you can use whoever you want to buy. If your home isn't even listed yet, or not under contract, it doesn't make sense to look at homes if you can't put an offer on something. You posted under zip code 80127, which is Littleton CO (and a very HOT market). It's very hard to get an offer accepted with a contingency to sell your current home. If you're under contract, and very close to closing, then I would demand to look at homes at this point.

I have potential clients asking to look at homes, but they need to sell their house first and it's not even near ready to list. It makes zero sense to look at a home, fall in love with it, and then not be able to make an offer on it.
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Mon Oct 26, 2015
Michael Glist answered:
I agree with them. An inspection as though it may not be required it is highly recommended so things like this do not come to light at a later time. If you did indeed have an inspection done than the person to be going after is the inspector. As they said it will be hard to prove that they knew this was a problem and going after the seller with an attorney will probably cost you more than it'll cost to have someone come out and do the job right. Its unfortunate that you have to go through this and I am sorry. I hope this information helps. ... more
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Sat Jun 14, 2014
Dave Umphress answered:
Hi Deb, I live right across the street from Chatfield HS and can point you in the direction of a number of good areas under $275k. In this market, though, most of them are selling before they even hit the MLS, so having a well-connected agent with in an office nearby will be key. When new listings are coming up from co-workers within the office, you need to hear about them before anyone else! Shoot me an email and I'll give you an idea of some of the ones coming up in your range.

?Dave Umphress
Keller Williams Realty Success
Direct Line: 303-578-0741
DaveFoundMyHouse@gmail.com
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Fri Jun 15, 2012
survey answered:
Kayra,

I have had a rental property since 2008. I have been very fortunate with my tenants. They have taken very good care of my rental property and I have not needed a property manager. The nice thing about rental properties is that you make the original purchase and someone else pays you and the mortgage for the right to live there.

You can include in the rental agreement that the tenant must maintain the property including lawn maintainance, appliances, painting, etc.

Another option is doing a lease purchase property. You get a large downpayment as Option money, plus you get rent. This motivates tenants to take care of the property because they are looking to purchase it. If they fail to purchase the property in the time frame you contract then the option money is yours, if they purchase the property then the option money can become a downpayment for the purchase. It gives the tenant a chance to purchase the property from you, You get better quality tenants, and you help a tenant that usually is working on getting their credit back in shape. You can get longer contracts like 3 year leases as well.

I just sold my rental this way and the tenant/buyers are thrilled. I got a fair price for my property (higher than current sales) and the tenant/buyer is getting a great home. If you decide to do a lease option sell please be fair to the buyer and put yourself in their shoes. The more fair you are, the better tenant you will get.

Kevin
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Thu Nov 19, 2009
Ethan Besser answered:
Hi Dr.,

No, right of first refusal is not required and in fact is rarely seen as part of a real estate contract. If you have further questions , I would be glad to answer them for you!

Ethan Besser
303-856-8980
Keller Williams DTC
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Thu Jun 5, 2008
Linda Durec answered:
Unfortunately, I am having a very similar situation with a condo purchase and I am representing the buyer. The process is already in the 8th week and we still have not received a definite answer from the secondary lender. I call the listing agent two to three times a week. Several agents from our office have attended short sale seminars and the problems seems to be the abundance of paperwork. Each processor is dealing with 200 - 300 files at a time and can't keep up. I'm sorry that I do not have a very positive solution for you, but you should know that this can be a long and drawn out process. The good news is that once the dust settled, you will have purchased your new home at quite a substantial savings. Good luck to you. ... more
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