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Flourtown : Real Estate Advice

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  • Local Info2
  • Home Buying1
  • Home Selling0
  • Market Conditions2

Activity 6
Tue Jul 3, 2012
Edmund Choi answered:
Buying a bank-owned property can be a great opportunity, but certain protocols should be understood when evaluating the property as a candidate to be your home. The most common question asked when reviewing the public remarks refers to the phrase "AS-IS, WHERE-IS". Once you have performed your inspections, you'll need to decide whether to terminate the contract or move forward; most of the time, any request for repairs/credits will be rejected, but there could be exceptions. Furthermore regarding repairs, any lender-required or municipality-required repairs will also be assumed by the buyer. On the matter of price, price is negotiable. However, price is only one component; structuring the deal so that it's palatable to the bank is just as critical to success -- other factors to be considered are deposit monies, settlement date, type of financing, time-frame for financing and inspection contingencies, seller's assist (if requested), etc. Bottomline: seek out a Realtor who will not only advocate your interests, but has a wide breadth of experience in all the transaction types - resale, new construction, short sales, foreclosures, estates, etc. -- to secure your new home. Good Hunting! ... more
0 votes 3 answers Share Flag
Wed Dec 21, 2011
Michael Beautyman answered:
It appears the market's decline has ended in this area. The area never rose as much as other areas of the country, and it did not decline as much as other areas. I have three properties in the Fourtown area for rent or sale and am seeing more activity.

Michael
267-679-7440
... more
0 votes 13 answers Share Flag
Fri Aug 6, 2010
Bill Cavanaugh answered:
Janefonda,

Great Question! I agree with the comments that my peers have made and would like to give you one more resource that I find invaluable to my clients with the same concerns about school districts and info.

This was an article that I found while researching School Districts for a client that is moving in to our area from Michigan.

Good Luck and if you need any more help, do not hessitate to contact me directly on my cell 484-686-7650
... more
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Fri Jan 15, 2010
Bill Hamberg answered:
Hi Billie, This may have been the Gravers Lane/Elliston Dr/Flourtown Ave. area. There are some magnificent homes there. Hope that helps! -Meg
0 votes 1 answer Share Flag
Wed Mar 25, 2009
Sharon Sapp answered:
Dear Las,

If the house is outdated, the listed price may have taken that into account. I do recommend that you use a buyer's agent to help you come up with a price that is good for you and acceptable for the seller.

You've been given a grocery list of things to consider for the price:
Other similar properties that have sold in the last 6 months - how does the sold price compare to the asking price?
Were the other homes that sold also needing updating?
Do the other homes that sold also have 2 car garages?
Did the other homes that sold need fixing up or were they move-in ready?
How does the square footage compare?
How do tne number of bedrooms compare?
Were there any additions added to the home you're looking at vs the homes that sold?

These are some of the things a buyer's agent looks at to help their buyers negotiate a good deal. I don't work in the Flourtown area but these are some of the things all Realtors goes through hours of training for. For a safety net, you can always add a contingency that the offer is contingent on the mortgage company appraising it at that value (we have that in our agreement of sale contracts but other areas may not). That way, you know for a fact that you are not overpaying for the house.
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1 vote 15 answers Share Flag
Sat Aug 30, 2008
Carol Cei answered:
Yes, there is, although it may not be within walking distance. The closest station would be Oreland. It goes directly to Philadelphia, or to Lansdale/Doylestown. You can also get off and link with other lines which travel to different suburban venues. ... more
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