Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Bay Harbor Islands : Real Estate Advice

  • All28
  • Local Info0
  • Home Buying5
  • Home Selling1
  • Market Conditions2

Activity 10
Sat Sep 6, 2014
lolitamjames asked:
Sat Mar 8, 2014
Roxy Ortiz asked:
This question was asked from http://www.trulia.com/rental/3148191522-Condo-Bay-Harbor-Islands-FL-33154
0 votes 0 Answers Share Flag
Thu Mar 6, 2014
Elliot Friedman asked:
This question was asked from http://www.trulia.com/rental/3073243888-9800-W-Bay-Harbor-Dr-608-Bay-Harbor-Islands-FL-33154?ecampaign=con_rlt_post_lead_agent_rent_fr&eurl=www.trulia.com%2…
0 votes 0 Answers Share Flag
Sat Nov 23, 2013
realestatedeals4u answered:
Julio, with some additional information I can provide you with a CMA, which is the formula that banks use to base what the value is.

I would be interested in the units. I am a realtor/investor. Please send me a note to realestatedeals4u@yahoo.com and let me know when I can see the property, if you are interested in selling.

Perry
... more
0 votes 4 answers Share Flag
Fri Jul 26, 2013
Alison Hillman answered:
This home’s listing agent can tell you more about this place that I can (and probably will know a lot about similar properties in the area). You can email the agent from listing page using the orange “Contact Agent” button to the right of the home photos.

Or, you can look for other local agents on Trulia here: http://www.trulia.com/voices/directory/

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you. Good luck with the search!

Best,
Ali
... more
0 votes 1 answer Share Flag
Tue Jul 16, 2013
Coralia Braverman answered:
yes it is available. Please call me 305 300 3169 to schedule an appointment

Coralia
0 votes 1 answer Share Flag
Tue Aug 31, 2010
answered:
Hi Laura,

I am a 203K Rehab Specialist located here in Florida. I do loans all over Florida and used to live in South Florida and work in Bay Harbor Islands many moons ago and still visit as much as I can.

As the previous writer mentioned, a 203k loan can help you overcome the obstacles you are facing in this competitive homebuying market. It is my opinion that too many realtors, and investors alike, immediately dismiss offers from buyers who elect to use FHA financing because they think the property will not qualify for an FHA loan.

The 203k Rehab loan was specifically created for buyers that want to purchase fixer uppers but may not have the cash on hand to do the repairs. This loan offers buyers the best of both worlds - low down payment, great rates and since the cost of the repairs and purchase price are combined into one loan , you only have one monthly payment.

There are two versions of the 203K - Streamline which is used for less extensive repairs up to $35,000 and the Standard - which can cover additions and major renovations over $5000. The max limit is determined by the estimated future value of the property once the repairs are done. You can use the 203k to do as little as purchase appliances to replace a roof, AC and even fix an existing pool.

My company also offers the following 203k refinance option. If you purchase the property for cash, you may be able to refinance the property within 6 months of purchase to cover the repairs and possible recoup some of your acquisition costs.

Since the 203K product is not well known, I encourage my buyers and their realtors to contact "cash only" lisitings and talk to the Agent/Rep. Sometimes, they're receptive - at that time, I'll give them a call to educate them about the product and usually they'll consider the buyer's offer.

We are one of the largest 203K servicers in the country and largest in Florida. I've closed countless 203K's and would appreciate the opportunity to help you purchase your next home.

Please feel free to contact me and review some of blogs and other responses re the FHA 203k loan.

Hope this helped.

Sincerely,
JACQUELINE CLARKE
FHA 203K Specialist
Freedom Mortgage
1600 East Robinson Street
Orlando, FL
Cell: 407-591-7693
... more
1 vote 8 answers Share Flag
Sun Nov 2, 2008
Mott Marvin Kornicki answered:
Hello Susan:

There are several possible benefits in a lease/purchase. At the same time there are potential pitfalls. The agreement must be extremely specific and outline in detail how (and if) the monthly payments will be applied. It is typical, that a certain percentage or dollar amount of the monthly rent is applied towards the down payment or purchase price- It is not mandatory, but typical.

Usuallly, the selling price is predetermined at the time the lease starts. There are many different ways to go about the process. Lease/Option, Lease Purchase - In the L/O it is NOT mandatory to buy at a specific time. However, the option money would be forfeited. In a L/P, it would be mandatory to buy.

The possible drawback or benefit... is setting the price now- If prices increase, you win- if prices decrease you could lose.

In a true lease option, "option" money is given to the seller- that is the cost of reserving the property.

Here is a description of what I mean.

LEASE OPTIONS:
http://www.realestateabc.com/answers/option.htm

LEASE PURCHASE:
http://www.therealestatebloggers.com/2006/08/01/common-real-estate-pitfalls-the-lease-purchase/

Like in just about all contracts and negotiations; nothing is etched in stone [ALMOST NOTHING] you can carve out a deal that suits the seller/owner and tenant/buyer with the terms and conditions that are agreeable.
... more
0 votes 2 answers Share Flag
Search Advice
Search

Followers

213