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02119 : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 8
Wed Aug 12, 2015
Camvalerie2 asked:
2 unit condo 19 yrs. boughtt at same time condo docs stated set trustee acct. we went 50/50 instead we had disagreement not related to condo other unit hired lawyer. this is lst trustees…
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Fri May 24, 2013
Heath Coker answered:
I would use a local rental professional to save time and money and also to make sure you don't miss a great rental.

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Mon May 13, 2013
Ken Lambert answered:
Hello- I'm not sure, but I think the other comment was talking about title insurance, not homeowners insurance.
Property insurance will vary based on many things like the age of property, size, and other items- how far away from a FD, etc-
But, I always figure about $500/ year is a good number- for a single family owner occupied home- assuming you don't live right on the beach or something... This doesn't include flood insurance- if needed. If I can be of any more help, please let me know. Thanks and good luck,

Ken L.
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Wed May 8, 2013
Michael Ferretti answered:
I've sold properties in Fort Hill, Roxbury. Fort Hill is great. But just as an alternative, you might want to consider 81 Westminster Ave.

Michael A.J. Ferretti
DuPont Street Realty Advisors
(310) 896-5003 - Los Angeles
(617) 306-8990 - Boston
Lic# CA01874839 / MA9053588
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Tue Jan 6, 2009
Don Shea answered:
From your brief description, it sounds as if you went right to the Seller's agent. In our area, Illinois, a listing agent is obligated, even when acting as a "dual agent", to present each and every offer made on the property right up to closing. If a Seller rejects an offer, our contracts have a paragraph the Seller signs indicating that they decline your offer. You can and should request that when you tender an offer. Little consolation, I know; but at least you would have known you were in the game.

Someone else mentioned that there may have been a higher offer. If you had a buyer's agent, (1) you would have had a true advocate and (2) they might have counseled you about the situtation and what may have been required to win the deal. Spearating the Buyer and Seller representation ensures each participant has independent advice pertinent to their role.

Sorry your deal want poorly.
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Mon Oct 6, 2008
Deborah Madey answered:
REOs can take a bit longer. Be sure to understand when you are dealing w/ a short sale that needs bank approval versus an REO which is a bank owned property. With an REO, the bank owns the property and generally has some level of commitment to the selling process to get the property off of their books. Some banks are motivated and reasonable, and others are not. I have witnessed banks moving along quickly with good communication and watched as other banks let the best buyers fade into the horizon. As a rule, REO property transactions move much quicker than short sales.

In an auction type of pricing stratetgy, I have seen banks settle for less than their expectations when mulitple offers all fall short of the bank's target. If the bank has only one offer at a price less than desired, the bank may hold out. When the bank has 4 offers and all fall short, the market has made a clear and compelling statement and most logical people will listen. Disclaimer: Banks are not always logical.
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