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Home Buying in Columbia County : Real Estate Advice

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Activity 22
Sun Jun 21, 2015
Noah Seidenberg answered:
I would get a Realtor to help you create a Comparative Market Analysis. You should find a professional to help you determine value.
0 votes 2 answers Share Flag
Wed Dec 17, 2014
Anna M Brocco answered:
You really should consider consulting with an attorney who specializes in real estate and have all paperwork reviewed. Rent to own is really not a good idea, it is risky and you could stand to lose money. ... more
1 vote 5 answers Share Flag
Wed Oct 1, 2014
Tammy Hayes answered:
Contact a local Realtor and have them set you up in the MLS system to receive listings. If you do now know a Realtor, you can use the Find An Agent Feature here in Trulia.
0 votes 1 answer Share Flag
Mon Feb 17, 2014
Michelle Yoo answered:
Assessments differ in each community, however in Portage properties do typically sell near or slightly above their assessment. Obviously the condition of the home can significantly affect this, but if the home is in good enough condition to pass a USDA appraisal then the likelihood is that it will appraise out. If you're unsure, ask your buyer's agent for a comparative market analysis. ... more
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Sun Jan 5, 2014
Steven Schuster answered:
There are no laws requiring that part of your rent needs to be credited towards a down payment. If it was agreed to in your lease that would be a different story. I've been involved w/a couple similar situations and we did set it up that way because the intent was to purchase all along. We actually did an offer to purchase up front w/a closing date set down the road. The purchase price & rent are agreed upon up front along w/the amount credited per month of each month of rent paid. That keeps the price from unexpectedly changing by either party & each party has some skin in the game to keep the deal glued together. ... more
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Thu Dec 5, 2013
Eric D Lenz answered:
Your question is similar to: "How much are cars selling for?" or "How much are houses selling for?"
All hunting land is not the same, all farmland is not the same. Wetlands are desirable for some, not for others. That is why you will find that per acre prices can vary significantly from parcel to parcel... and everything you read below is true, too. ... more
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Tue Jun 25, 2013
Sally Grenier answered:
Tue Jun 18, 2013
Karen Gauer answered:
Good Morning Dawn,

It currently is not listed with an agent in the Multiple Listing Service. As soon as it is I can contact you to view the property. Once the bank takes ownership back, it will take a little while to get it one the market. Banks are not holding on to the properties as long prior to getting them listed so you are looking at 1-6 months before the bank gets it on the market for sale.

If you have any questions please contact me at 608.712.0596 or kjgauer@gmail.com. You can also visit my website, www.MadisonWIRealEstateConcierge.com to search and view other properties.

Thank you!

Karen J Gauer
Fred Kaping Realty
... more
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Wed Jan 30, 2013
Terry Farnsworth answered:
Too many variables to be considered here. On the surface - no, 90-92% of list as an initial offer would generally not be considered a "low ball". What we don't know is:

1. How much the seller owes on the property. It's possible they are at their "breakeven" point and can't afford to bring money to closing to cover the balance as stated below.

2. How motivated is the seller? If it's been on the market 400 days, and they've only dropped the price once - it doesn't seem like they are in a huge hurry to dispose of the property.

3. What do the comparables say? Is the house overpriced at $117,900? Underpriced? Is $107,900 overpaying for the property?

The comparables will tell you what kind of offer $107,900 is, and you'll have justification to back up any offer you submit. The question is - where is the seller getting their number from - and do they have justification for "why" the property should sell for where they have it priced?
... more
0 votes 6 answers Share Flag
Mon Nov 12, 2012
Melissa Kirk answered:
Hi Ray, Rent to owns are sometimes a challange to find and usually the terms are not that appealing to the buyer/renter. There are a few rent to owns in Portage that I am aware of. Another option is to work with an investor who purchases the home and sells it back to you on land contract. I work with a few investors in this market that do this however they will require a down payment. Feel free to give me a call and we can discuss more. Thanks. 608-617-0413 ... more
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Wed May 2, 2012
Lorre Deppe answered:
Yes there is a Condo/Townhome community called Lake in the Dells on Rt. 13 about 10 minutes North of downtown dells.
1 vote 1 answer Share Flag
Sun Oct 31, 2010
Debby Thompson answered:
I would take the contract to an lawyer and ask the questions to him or her. Without writing the contract it would be hard to advise you on anything in the contract. Did you have a real estate agent write it for you? If so I would contact that agent and have them go over what you have signed. If you still have questions and they have not answered them for you, I would find a real estate attorney.
Debby Homestead Realty INC
www.debbyrealtor.com
... more
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Sat Oct 30, 2010
Beth Goethel answered:
Josiecat,

I think you've probably already gotten your answer but I was going to say that based on the information given, you should contact a lender to explore your options. There are a lot of great programs out there that you may qualify for.

Good Luck!

Beth Goethel, Realtor
Bunbury & Associates
608-548-1058
... more
0 votes 4 answers Share Flag
Mon Oct 18, 2010
Linda S. Cefalu answered:
I thank all of you who responded. It is my hope to help otherwise renters to be home owners and try to educate them on the process of home buying.

In response to FSBO success. I understand you're feeling a bit perturbed about this question. So let me ask you another. Wouldn't you rather pay a small percentage of your sale to get it sold than to sit on it for a year or more. Agents like myself spend a lot of time and money promoting our services to find buyers for your home. Don't you think we should get paid for that service?

On the flip side....I have brought buyers to FSBO homes or homes for sale by limited service companies and ended up doing all of the work for both sides of the transaction. And usually when it is a For Sale By Owner that is exactly what happens because the seller, in most cases, has no clue how to move forward to closing. I do not mean any disrespect to you, however, as I know that there are a few home owners who have actually done their homework and are a joy to work with..............but that is extremely rare.

So back to your comment. Why would a seller expect a hard working agent to bring a buyer to their property and do most of the work in getting it closed but not get paid?? You think that the buyer should pay a commission to sell YOUR house? Hmmmm...........
... more
0 votes 6 answers Share Flag
Wed Apr 14, 2010
Emelia Sanchez answered:
Great question, I would argue that the Mortgage Holders are not a party to the contract and you already have one between the buyer and seller but as Eric said below contact the IRS and let us know what they advised. ... more
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Fri Mar 19, 2010
Debra (Debbie) Rose answered:
As a further clarification, if you file an amended 2009 tax return to claim your credit, rather than wait until the 2010 filing, and you have already paid your 2009 taxes in full................Uncle Sam, great fellow that he is, will send you a check for the full $8000 (assuming you qualify!). ... more
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Mon Jun 8, 2009
Misty Renfrow answered:
I apologize for the lengthy answer, but this is good information from the National Assoc. of Home Builders:

Some people have thought first time buyer means that you have never had a mortgage, this is not correct. The $8,000 tax credit is for first time home buyers. Regardless the type of home, you cannot have had your name on the deed of a property for the past 3 years, from the date of purchase.
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.

For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.

Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
... more
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