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Corning : Real Estate Advice

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  • Home Buying3
  • Home Selling1
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Activity 9
Wed Jul 19, 2017
Kingofloc asked:
I live in NY. Trulia is sending me houses in Indianapolis. I am not seeking housing in that location so i'm confused why I keep getting updates/messages for these houses in that location.…
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Thu Nov 24, 2016
Kathy Burgreen answered:
People in this situation need to choose between renting & their pets because they can't afford both.
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Wed Aug 31, 2016
Tjspeicher39533 asked:
In NY state if a home is sold via a land contract, is it considered a sale before or after the final payment is made? If a home has a mortgage on it, and has a sale agreement, will it be…
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Wed Jun 22, 2016
Seanlandon20 asked:
Fri Jun 26, 2015
Trevolyn Haines answered:
The bank will not evict you prior to the foreclosure. Often the auction's winning bidder will offer 'cash for keys' to the property tenants. The amount they offer will depend on the property value, the property condition, and how much time the tenants need to move out (they are usually given a couple of choices such as one amount for a move out in two weeks and usually zeroing out for a longer periods of time. If the tenant doesn't leave the property free of debris, damages the property, or over stays the agreed time period the deal will be off and the new owners will evict. The tenants need to make sure that every thing is in writing.

Part of the reason your short sale was denied was that the banks want the transaction to be 'arms-length' meaning that there are no ties between you and the other parties to the transaction (which can allow for side deals that do not benefit the lien holder).

If you still have time before the foreclosure date, you may want to try for another short sale approval with a new buyer or even a mortgage modification.
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Wed Dec 17, 2014
Joseph Domino answered:
You have to read the wording on the listing agreement. If the listing agreement says "purchase price" then it is the purchase price. If the listing agreement says "purchase price minus concessions" then that is the commission. If it says "net selling price" then it will be after costs.

The listing agreement is a negotiated contract. There is no standard.
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Thu Jul 17, 2014
Mj answered:
Does not make sense. Corning is a community supporting / underwritten by Corning Inc. to assure a good place to raise a family and a viable destination for tourism dollars. Elmira is a depressed region with the biggest employers being the prison and hospital(s). To assure your decision it is recommended that you do a short-term furnished rental (month to month) for a few months when you arrive Corning, and take weekends.. and more importantly evenings to drive around all towns. ... more
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Sat Jan 4, 2014
Dan Tabit answered:
Fraud is a specific legal issue that an attorney would need to review your agreement and advise you on, but it sounds like they made an offer that they weren't qualified to make. I would think you may have a chance to retain the earnest money.
Speak to your agent and or their managing broker before you go further. Then get your house back on the market asap.
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Thu May 6, 2010
Don Tepper answered:
The advice below is good generic advice. But it doesn't answer your question.

Here's how to find a land-lease contract:

That's a blog I wrote on how to find lease-options, rent-to-owns, and similar situations.

The tie-in with the advice below is that during the time you're doing a land lease or lease-option, you'll need to clean your credit up. And you have to be committed to doing so.

Hope that helps.
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