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Cherry Hill Township : Real Estate Advice

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  • Local Info1
  • Home Buying2
  • Home Selling0
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Activity 3
Thu Jul 13, 2017
Sammy answered:
Found a listing on Zillow which was not the prettiest home but had two significant reductions in the listing price and was certainly a good value. After verbal offer was agreed upon, they insisted we obtain a pre-approval letter with very specific language that none of our three pre-approval letters satisfied (despite two of them being from large reputable national banks).
Our mortgage brokers did not feel comfortable writing their required language into the pre-approval letters. Finally, they accepted the letter only to turn around and inform us that they have a "substantially" higher verbal offer and solicited for a counter offer. My counter-offer was good bye.
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Tue Jun 13, 2017
Tprudhomme asked:
Thu Sep 15, 2011
R. Eric Axelson answered:
Melanieme, your contract of sale should contain a separate document called a short sale addendum. If should have language in it similar to this: that although the house is being sold as-is, you have the right to obtain inspections, and in the event any repairs will be more than let's say $5,000 in the aggregate, you can cancel the contract. Your realtor should have recognized if this language wasn't included and should have advised you to consult with an attorney BEFORE signing the contracts.

The attorneys many of us work with here in South Jersey are below. Simply Google them and tell them Eric Axelson from Sotheby's sent you. I was at a previous company when I worked with them in the past, but John at least should recognize the name.

-John Rothamel, Rothamel Bratton, Kings Hwy, Haddonfield
-Bill Sragow, Law Office of William Sragow, Cherry Hill
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