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95829 : Real Estate Advice

  • All20
  • Local Info0
  • Home Buying14
  • Home Selling2
  • Market Conditions0

Activity 17
Wed Aug 24, 2016
Tracyberg36 asked:
I left a bad apartment complex over a year ago and owe money to them. I'm having trouble finding a new place as I'm living with family and friends. any help is greatly appreciated.
0 votes 0 Answers Share Flag
Wed Mar 16, 2016
Scott Godzyk answered:
Most likely you can not receive a commission when representing your husband, they do have a form where you will have to sign you are not related to the home owner
0 votes 2 answers Share Flag
Tue Feb 17, 2015
Randy Stoker answered:
You do not have any options except to hire a real estate attorney to review your situation and look for any wrong doing by the lender. This is not an uncommon occurrence believe it or not! The new owner has right to evict you and take possession of the house unfortunately ... more
0 votes 5 answers Share Flag
Thu Sep 18, 2014
Jim Walker answered:
Did it slow down? Bacbinh prediction was correct for # of closed sales that month. Only 144 in Elk Grove that month of November 2013. Those numbers stayed low through the winter. But, just as so many agents predicted, it picked up in the spring. The important numbers for Binh, as a buyer, was not closed or pending sales, but inventory, average price, and average price per square foot.

The inventory climbed steadily to the end of this summer from 279 listed in December 2013 to 425 listed in August.

Average price steadied at $317,000 until April 2014 then it climbed to $331,000 that month to $347,000 at the end of August. A $30,000 increase in the average. Price per square foot ticked up from $149 in December 2013 to $164 per square foot in August. So if Binh waited until early in 2014 he suffered no harm, but if he waited past the end of winter, he shot himself in the foot. (The square foot)
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0 votes 14 answers Share Flag
Sat Jul 26, 2014
As a follow up, after reviewing the questoins you asked back in 2012, I am guessing that your reference to non-traditional credit means that you don't have enough tradelines reporting on your credit report. In this situation you need a lender that will do a "manual" underwrite utilizing these types of accounts as opposed to only a traditoinal credit report.

Let me know if you need help finding a lender with this option for financing.


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549
Cell: 301-651-7822
NMLS# 695929
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0 votes 24 answers Share Flag
Sat Jul 26, 2014
Shelly Long answered:
Hi Tena,

I agree with the advice you're receiving here, however one thing I don't see pointed out is that you need to be careful in having too many loan officers pull your/his credit as this will negatively impact your credit score, which will impact your ability to buy...especially if his score is right on the cusp of qualifying.

I typically advise my Buyers to contact 2-3 loan officers, tell the same "story" and listen to what they have to say, as well as how you feel about the information and the connection, or lack thereof, with them.

Remember, this person will know all your intimate financial details, so you really want to get a good sense of trust, rapport, and friendliness. Sometimes this cannot be accomplished over the phone, so perhaps a meeting is necessary. Do not worry if it takes a week or two to do this, as houses aren't going up thousands each day, so take your time and be diligent about it.

You can Google questions to ask. There are also first-time Buyer classes you can take. Lastly, there are also Realtors who can help guide you as well.

Good luck,
Shelly Long
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0 votes 8 answers Share Flag
Sat Jul 26, 2014
sjs898 answered:
A Real Estate agent in KY can put their license in escrow (on hold) and no longer represent buyers or sellers, without losing their license completely. They are no longer affiliated with a broker. So I think the question is...can a former Realtor, w/their license "on hold" & not affiliated with a broker sell their property "by owner" without risk of losing their inactive license? ... more
0 votes 9 answers Share Flag
Sat Jul 26, 2014
It would really depend Tam. The mandatory waiting period after a discharge is past, however, lenders are going to want him to explain the reasons for the bankruptcy and to demonstrate good use of credit since then.

If he has had collections, late payments, etc since then - especially any in the last 12 months - then it might not be easy to get something right now. The credit score would not appear to be real good just yet.

That's not to say he won't be able to do it. Just that there are a lot of factors that go into a lending decision, especially after a bankruptcy.

The best bet is to speak to a lender right away and have them assess his qualificiations and provided direction on the best way to do things.

Good luck!
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0 votes 6 answers Share Flag
Sat Apr 19, 2014
Albert Soufi answered:
Ya payoff your dept down. There are some programs only requires%5 down with no MI..let me know if you need further help..
0 votes 11 answers Share Flag
Wed Feb 19, 2014
Jaime Becker answered:
I'm a little confused as to whether your offer was really accepted or not. Did you receive a contract signed by the seller? If so I would read the contract and see what it says about your deposit.

Next you may need a real estate attorney.

Thirdly, I would make sure you are fully pre-approved and understand how much money you need, your payment amount and your interest rate.

Fourth, I would hire a Realtor to help you find a home if you are committed.

Good Luck!
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0 votes 12 answers Share Flag
Wed Dec 18, 2013
JR Thrasher answered:
Sure, why not? there are many considerations in an offer other than price.

J.R. Thrasher
0 votes 12 answers Share Flag
Mon Nov 11, 2013
Jaime Becker answered:
Location is merely a preference. What do you need to be close to, how far is your job, where do you want your kids to go to school. These are things people take into consideration when choosing location.

I would say Wildhawk is really not an ideal location for an investment/rental mainly due to price. Unless you are looking to take a loss.

Therefor Elk Grove would be a better choice between the two.

I will say this though... there is supposed to be a large development project in the area that includes connecting hwy 99 to El Dorado Hills. There will be more growth.

I hope this was helpful.
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0 votes 1 answer Share Flag
Wed May 15, 2013
Terry McCarley answered:
If you are a licensed real estate agent in the state of Florida you can purchase properties in the name of your company and receive a commission but you will need to disclose that you are a real estate agent. Do note that if you are trying to purchase a short sale some lenders will not allow the commission to be paid to the buyers agent (you in this case) when the buyers agent is an owner or partner of the company purchasing the property. Also, keep in mind that as a real estate agent you can not collect a commission directly. You must hang your license with a Broker and commissions will be paid to your Broker who will in turn pay you based upon whatever commission split agreement you have made. ... more
0 votes 5 answers Share Flag
Thu Jan 17, 2013
Alex Amaro answered:
To clarify: You are looking for a no doc loan to purchase a home with 50% down payment on a purchase of $239,000?? If that is the case, I only know of hard money lenders that will do that. Long are the days of banks and conventional lenders doing those risky loans. I have only worked with one hard money lender in the area. They lend strictly on the equity of the property and not the qualifications of the buyer. You pay more up front and the rate is high, but considering they don't check employment or credit that is the trade off. ... more
0 votes 4 answers Share Flag
Thu Jun 30, 2011
Jim Walker answered:
Thu Jan 6, 2011
Ute Ferdig answered:
Hi Jenny. I am not sure there are too many poultry farms that could have sold for anybody to have significant experience. I think a short sale for a poultry farm won't be any different as far as the actual short sale part is concerned (i.e., the negotiation with the lenders). I would think the marketing will be different and also the financing part for the buyer as this is maybe one of those working farm challenges. I would focus on finding a loan agent who can evaluate the financing option for a buyer as there won't be a successful short sale without financing that crosses all the Ts and dots all the Is. That's just my take on this.

Best regards,
Ute Ferdig
DRE # 01326917
Ferdig Real Estate Solutions
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0 votes 1 answer Share Flag
Wed Jan 20, 2010
Jim Walker answered:
Typical Bank seller shenanigans. They often try this stunt. Some asset managers and their attorneys are "expletive deleteds" Just because they want to rip you off does not make it legal. However, since they are often ignorant that they have no legal right to do that, they will often try to push the issue.

Whoa, I misread the question... You already agreed to let them take your commission and now they are realizing that they shouldn't. Well good for them. It sounds like they are now trying to do the right thing and pay you like they should have agreed to do in the first place. Accept the money. it was yours rightfully all along. Don't let them change their minds again.
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1 vote 8 answers Share Flag
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