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84102 : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying3
  • Home Selling4
  • Market Conditions0

Activity 10
Tue Dec 20, 2016
Angelica P answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Tue Apr 5, 2016
Mark answered:
If you are looking for the lowest commission rate in Salt Lake City, the best way is to put the commission fees on the open market and let the free market speak as Realtors bid your commission rate to earn your listing. Commission fees are negotiable and can vary by zip. We find the best way to compare commission fees is to reverse-auction them. That is why we created ListingBidder.com; a free service for Sellers who can invite agents to submit their marketing plan and commission structure. It is a patent pending process that is saving Sellers thousands.

It is completely free to the Seller and there is no obligation for the Seller to pick the lowest bid or any bid. The whole time the Seller remains anonymous as we never publish your street address or contact information. Sellers can sit back and review marketing plans, commission bids, ratings and reviews. A big win for the Seller and the Agent. After all, Agents are not charged to register or bid, they have no advertising costs, and they have no obligation to bid. Give it a try: https://www.ListingBidder.com

ListingBidder.com has recent 2016 data for listing proposals from real estate agents in the western states. This data shows that on the open market, where Realtors compete by submitting their marketing proposal and real estate commission fee rate, the total commission ask ranges from 3.0% to 6.0%. These commission rates vary by zip and almost show a perfect bell curve with the bulk of these proposals falling around 4.75% nationally. Whether you are looking for the average rate in Utah or the average rate in Idaho, we have found the ask rate tends to drop as the home values increase. We would love to help you find a realtor at a competitive commission rate: https://www.ListingBidder.com

Note: These figures represent the total commission rate which is usually split between the Listing agent and the Buying agent.
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0 votes 16 answers Share Flag
Tue Feb 11, 2014
m.brown answered:
There is usually a few pieces of information that the lender will require to use overseas income. Here are some but not all of the most important information that you will need to verify.

Foreign income earned by US Citizens is permitted with the following documentation:

- Most recent 2 years personal income tax returns that include the foreign income.
- YTD paystub and 2 years W2 statements or that country’s equivalent year-end
earnings statement
- All income must be translated to US dollars.

If you have more direct questions you can call me Mikell Brown, I work for Christian Roberts Mortgage and my phone number is 801-716-5245.
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0 votes 3 answers Share Flag
Sat Aug 25, 2012
Shirley Cheng answered:
The problem is that, no agent knows what property you are talking about and can't really give you the best advise on this question.
0 votes 9 answers Share Flag
Sat Aug 25, 2012
Shirley Cheng answered:
I would just have your listing agent take care of it.
0 votes 7 answers Share Flag
Thu May 24, 2012
Daniel Walker answered:
The REPC or Real Estate Purchase Contract as it is called in Utah is your friend! Section 8.1-b and c spell it out clearly.

8.1
(b) Buyer's Right to Cancel or Resolve Objections. If Buyer determines, in Buyer's sole discretion, that the results of the Due Diligence are unacceptable, Buyer may either: (i) no later than the Due Diligence Deadline referenced in Section 24(b), cancel the REPC by providing written notice to Seller, whereupon the Earnest Money Deposit shall be released to Buyer without the requirement of further written authorization from Seller; or (ii) no later than the Due Diligence Deadline referenced in Section 24(b), resolve in writing with Seller any objections Buyer has arising from Buyer's Due Diligence.
(c) Failure to Cancel or Resolve Objections. If Buyer fails to cancel the REPC or fails to resolve in writing any objections Buyer has arising from Buyer's Due Diligence, as provided in Section 8.1(b), Buyer shall be deemed to have waived the Due Diligence Condition.
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0 votes 3 answers Share Flag
Tue Feb 7, 2012
Matt Sneyd answered:
Justin is spot on. There are good deals in Nevada but I personally think if your going to invest out of state there are better places to invest. That being said there is no better place to invest than your back yard. I have heard of way to many people getting "raked over the coals" in states that they did not have a man on the ground in. As far as the LLC i think you should be fine buying houses in Nevada with a Utah LLC but you could also just create a Nevada LLC to buy properties in. The Nevada LLC has been know to have better protection anyways. Some benefits of a Nevada LLC are:

- Nevada is one of the most difficult states in which to “pierce the corporate veil.”
- A Nevada LLC allows for “multi-tiered” ownership
- Nevada allows for “single member” LLCs.

There are a few other benefits but you should really consult with a CPA on this aspect of your investment strategy.
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0 votes 2 answers Share Flag
Fri Feb 3, 2012
Micah Olson answered:
I work with lenders that do FHA 203k all the time. Just make sure that the lender you choose actually does 203k, and does them frequently. Not someone who has them available. I may even ask how many they have done in the last 6 to 12 months (don't expect a VERY high number, as they are not all THAT common, but make sure they have closed several recently). I do a lot of work in the Salt Lake and Utah Counties, and have heard of Justin Coleman. Everything I hear is great. Maybe give him a call and see what you think.

Also BEFORE you get out of your due diligence period in the purchase contract make sure you have the loan fully approved. FHA 203k have certain items they can cover, especially if you are doing a streamline. Just don't lock yourself into a purchase, and then figure out that the loan won't work...

Micah Olson
Keller Williams South Valley
801-805-4900
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0 votes 4 answers Share Flag
Mon Feb 8, 2010
Spencer Janke -- Utah Cribs answered:
The best place to go in order to recieve free Bank foreclosure listing in utah is

http://www.bankforeclosuresutah.com/

Spencer Janke
Broker Sotheby's
0 votes 3 answers Share Flag
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