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Home Buying in Landenberg : Real Estate Advice

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  • Local Info4
  • Home Buying10
  • Home Selling1
  • Market Conditions1

Activity 9
Fri Jul 3, 2015
Jeanine Lamb answered:
Like any of the areas surrounding Kennett Square, Landenberg has its pockets of odor. In my travels showing homes there, most of it is not impacted and is a beautiful place to live. The best thing to do it look on a case by case basis and ask neighbors. ... more
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Fri Apr 12, 2013
Howard Urbine answered:
What this means is heat pump with electric backup. That would be instead of oil or gas backup. A heat pump does not create the heat used to warm your house, it just collects it from the environment and concentrates it in your home. Think of it like a magnifying glass using the sun to start a fire. When the air is too cold, the unit cannot efficiently gather heat. I believe the critical temperature is in the mid 30's. When the air outside is this cold, a backup system creates heat for the heat pump. It could be oil, gas, or electric. Electric heat is the most expensive usually but the cheapest system to buy and you don't need fuel tanks around. Some people don't like the luke warm air a heat pump puts out but when working in moderate temperatures, they are very efficient as the electricity is only used to gather the heat so much less energy you have to pay for is used. A more expensive and better system that uses the same principles is the geothermal heat system that uses the ground or a water source as a heat sink or source. ... more
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Mon Dec 3, 2012
Michael Milligan answered:
No, you don't NEED one but you should ALWAYS have a buyers agent representing you in the purchase of a new home. The sellers pay for the agent commission, so its essentially free representation. Why wouldn't you want free professional advice from someone who knows the area, knows the builder and their history, knows how homes are selling in the community?

I'm a top rated agent in the area featured in the Dec issue of HGTV magazine. Call or email me for any assistance.

Mike Milligan
302-299-1110
Mike@milliganteam.com
... more
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Wed Jan 11, 2012
Jill Callahan answered:
Hi Rob,

The best way to find out if you can purchase a new property is talk to a loan officer and he can give you the best information. I'm a local Chester County agent and I would be happy to help you in any way I can. Please feel free to contact me on my cell 610-470-4945 or e-mail jcallahan@cbpref.com.

~Jill Callahan
... more
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Tue Dec 7, 2010
Michael Milligan answered:
I am a local agent licensed in DE & PA with several listings and buyers in Landenberg. Please contact me at your convenience so we can tour the home and determine if it's right for you. I completely agree with your research that it has been on the market for some time with limited price reductions, which could mean several things. The homeowner won't reduce price because they aren't listening to their agent's advice on market conditions, or can't lower their price due to liens on the property etc. Neither of which matter when making an offer. Please contact me to discuss in detail and see this home and others like it. ... more
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Fri Sep 11, 2009
D. Derderian answered:
It's not an insult to make an offer. If you need assistance feel free to call me their are specific guidelines that must be taken prior to an offer, which I can email you if your interested. ... more
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Wed Sep 9, 2009
Kathleen Lordbock answered:
One system is totally automated and lacking in details that make a difference The other, by a REALTOR factors in many other aspects and is far more accurate in a true market value assessment. ... more
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Sat Jul 4, 2009
Chris & Stephanie Somers answered:
Lisa,

That is a good question. I have a long answer for you all they way from Philadelphia where I work.

A rent to own agreement (at lease the way we do them) is a lease with a slightly inflated monthly rent accompanied by a full agreement of sale with an agreed upon sales price. It is between you and the seller to determine how long the lease will be and if you will loose any deposits if you do not buy in the end.

Having a solid work history and money in the bank makes you a stronger renter. But a poor credit history (due to: not paying bills for example or a high debt to income ratio...) will lower your standing and may raise a red flag to the seller. As a buyer of a lease purchase property, you will need to show the seller that you are ready willing and able to correct your credit to the point that you will be able to procure a mortgage by the time the lease expires. Speak to a mortgage person now and do a credit repair program. Make sure you are claiming all of the money you make on you tax returns. Under the table money hurts people's chances getting a loan.

You seem to have a good grasp of the concept. But the Lease Purchase options out there are super slim. You may need to have your Realtor throw the idea out to the Seller to see if they'd be interested in entertaining that type of purchase option. It may be a challenge to find a Realtor who knows how to structure a purchase like this but there is so much info out there to assist them, I am sure with some intelligent investigation, they can figure it out. It takes a lot of work to put these contracts together and the Realtor does not get paid (except possibly 1/2 of the 1st month rent) until the property settles.

I have attached a few links from our Blog that you may like regarding the lease purchase and related process:

http://philadelphiarealestatevoice.com/post/783695/lease-purchase-what-is-it-and-how-do-you-do-it-
http://philadelphiarealestatevoice.com/post/1045387/renters-need-good-credit-too-
http://philadelphiarealestatevoice.com/channels/home_buying/topics/renting_vs_owning

Hope this helps you and anyone else who is interested in the lease purchase process. As a Realtor, I think this may be part of the solution to get some homes off of the market now. The payoff for this is low for the amount of work it requires but I am willing for the Big Picture Benefits. Others are too!

Stephanie
... more
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Mon Feb 16, 2009
Cindy answered:
We live outside of Oxford, just a few minutes from Landenberg. Out taxes are just under 6K. We have a beautiful 3-4 bedroom 3 full bath log and superior wall home with over 3000 sq sf, PLUS a second stone building with 2 more oversized garage spaces (for a total of 4 gargae spaces), a walk out lowel level which houses a work shop and a full third floor, currently a man-cave and a home office. The main house features a brand new kitchen with granite counter counter tops, new stone backsplash, custom cherry cabinets, new staninless appliances, a second kitchen on the lowel walk -out level. This level also features a huge family room with stone wood-burning fireplace (one of 2 in the home), a custom stone bar, home office, craft room and full bath. The third level of the home is a huge loft which serves as another home office. Both my husband and I are in telecommunications and work from home! This sits on 2.4 wooded acres with a stream runing through the property. Two decorative ponds are inthe front yard~absolutely stunning during dpring and summer. The home goes on the market next week. ... more
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