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Central State : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling4
  • Market Conditions0

Activity 8
Sun Jan 6, 2013
allan erps,ABR,SFR answered:
Negotiated maybe but grieved yes.
0 votes 10 answers Share Flag
Sun Jan 6, 2013
Jessica Hood & Laura Roskelly answered:
Sure you can. But consult with an attorney first. This is a sticky situation that needs review of all relevant documents.
0 votes 5 answers Share Flag
Thu Jan 14, 2010
Deborah Conti-Pinnacle Realty answered:
Hello Liz,

Contact an attorney. Please! Relatives or not, disagreements can happen as well as "Issues" with what you want to do. Yes, you can do the proces yourself, but I would strongly advise you against it and would strongly advise you to obtain and attorney to do the paperwork. You will then have the legal protection and the attorney will make sure that all parties are made aware of the process in writing. I have had clients do the very same thing for a minimal fee. Good luck!

Deborah Conti, Associate Broker, CSR, CBR, SRES, CIREB
Re/Max Park Place - Re/Max Multi-Millions Top Producer - Hundreds SOLD!
Phone: 448-9101
... more
0 votes 4 answers Share Flag
Tue Aug 5, 2008
Sylvia Barry, MAS,CIPS,SRES answered:
I think it's O.K. to have the listing agent buy the house form the seller, as long as the two agreed on the terms and conditions. If the seller is happy with what he is getting, then it should be O.K. However, if the seller has any doubt, then it is best not to pursue the sale to avoid further complication. But again, if both sides are happy, then that's a deal made.

On the second issue, I wonder why the listing agent wants the seller to carry the loan. Was that something the seller already offered to any buyers, or is it because the listing agent can not get a regular loan otherwise? If the seller agrees with this (along with the interest rate, the payment plan, etc) of the loan, it should be drawn up by an attorney to make sure the seller is protected should the listing agent default on the loan for whatever reason (same as if it's purchased by any other buyer asking the seller to carry back).

Basically if all is out in the open, agreed upon, with real estate attorney advise. then I would think it's O.K.

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1 vote 7 answers Share Flag
Thu Jun 12, 2008
Christine Serafini answered:
Thu Nov 8, 2007
Suzanne Walker answered:
At least 1 year due to seasoning requirements. And, IF a lender will due it prior to 1 year you can bet you pay big bucks for it.

Ultimately, what establishes the value of a property is what a seller is willing to sell it for and buyer is willing to able to pay for it. Thus, the underwriter will question the sudden appreciation of the property. In the current lending market I'd say be prepared that they might make you 'prove' the property has appreciated as much as you say it has. ... more
0 votes 1 answer Share Flag
Thu Nov 1, 2007
Matt answered:
Wed Oct 31, 2007
Matt answered:
Follow up: The realtor did remove his sign and remove the listing from his website. I'm happy about it.
0 votes 7 answers Share Flag
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