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33157 : Real Estate Advice

  • All38
  • Local Info7
  • Home Buying11
  • Home Selling5
  • Market Conditions1

Activity 28
Thu Oct 12, 2017
Kathy Burgreen answered:
As a retired realtor, you need a reality check so allow me to educate you:

Your job as a pharmacist meant a weekly or bi monthly paycheck - correct? As a realtor, you are self employed. NO PAYCHECKS!!! Your income will be 100% dependent on sales. You only get paid when you close a transaction. Therefore, you need to expect the first 6 months - 1 year with NO INCOME!! Do you have savings to pay all your bills?

Your comment "...I'm looking more for happiness and freedom then money because with happiness, money will come later." I disagree with you 100%. If you have NO INCOME, how will you pay your bills? You won't be happy with no hone to sleep at night, no food, no electricity and no cell phone. Happiness is when you have an income to survive.

You need to learn that as a realtor, it is up to you to find leads (buyers and sellers) and have them work with you to make a sale. Brokers are not required to provide you leads or tell you "here is a seller / buyer. Call them and make a sale." Brokers are only responsible for your behavior / actions if it violates any state or Federal laws or the brokerage policies. Further, the brokers only interest is getting their agents to close deals so they can collect their portion of the commission checks.

You also need to learn that for every commission check you collect, a portion goes to your broker. You do not collect the entire amount. You will need to reserve a portion of your check to pay Federal income taxes, health insurance and save some for retirement. Unlike your pharmacy paycheck, your employer would deduct the required amount. As a realtor, you are responsible for this.
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Mon Oct 2, 2017
Guillermo Jimenez asked:
And since there is no open space (planted curbside) between his house and the street in front of it, my curbside also becomes his visitor's parking spot.
Agravating !! Is there a…
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Tue May 9, 2017
Mary answered:
Hi,

Thank you for reaching out. Pending means an offer has been made on the home and it is in the process of closing. Let me know if you have additional questions.

Thank you for using Trulia!

Mary
Consumer Care Advocate
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Tue May 9, 2017
Asteteveronica asked:
Fri Mar 24, 2017
Damaris asked:
Cleaninig property reservation
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Thu Jul 14, 2016
Claudia Montenegro asked:
Tue May 26, 2015
Anna M Brocco answered:
If you are a for sale by owner the post is not allowed; if and when you do list with a broker, ask your agent to post the listing, or consider any flat fee realty company that feeds into the site.... ... more
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Mon Mar 23, 2015
Ryan Desch answered:
If you are trying to post a For Sale By Owner listing, Trulia does not allow this. You can post a FSBO on Zillow.
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Tue Mar 3, 2015
Oliver von Gundlach answered:
Prices have gone up substantially. Get a CMA from a realtor to determine the actual value of your property. You might be able to sell at this point and walk away with a profit.
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Mon Apr 7, 2014
Antonio Vega-Pacheco answered:
The seller pays the buyer's agent commission, that is standard. A brokerage fee often a flat $195 to $395 is another way the brokerage tries to get money out of you. Not all brokerages do it. Understand it is not the agent, but the owner of the RE office that forces them to collect this amount.

When you mention the 5% down, that could be an escrow deposit, a short-sale negotiator fee. If a fee I would give up on the home and find one negotiated for free. If escrow then that is normal and expected. Keep in mind the bank selling the property may come down and ask for more than the advertised price after doing the appraisal...a frequent move from the lenders. Many things can happen during a short-sale up to the closing. Was this answer helpful? If so please click on "best answer" or on the "green thumbs up".

Tony Vega
Antonelli Realty
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Tue Mar 25, 2014
Mott Marvin Kornicki answered:
Evelina is Correct!!

The law does in fact spell out the exact details on how a Landlord is to nitify the tenant of any and all claims against the deposit!

Mott
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Tue Mar 25, 2014
Mott Marvin Kornicki answered:
Shrika:

It's an often interesting concept - "Real Estate Company" - Yes, not all realty firms are created equal. As you can see; some firms have International presence - while others maintain a local, hometown persona.

The bottom like is that more likely than not- Your license will be registered to A Company - BUT you will be employed as an independent contractor. So, yes your affiliation is with that company and you are supervised by that branch or locations Broker or Manager of Record.

There are MANY "Best Companies" in MIAMI. Some of these companies will out-right tell you that they are the BEST. Those are the ones to stay away from!
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Wed Oct 16, 2013
audyshar answered:
We moved. Finding friends for my family and I was hard. But we went on eFamilyMatch.com and we found many friends. I like that site. www.eFamilyMatch.com

Helps a lot for finding good friends for you family. Check them out www.eFamilyMatch.com

Good Luck to you all
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Fri Jul 5, 2013
Antonio Vega-Pacheco answered:
Buyer - Search internet for a while, get pre-qualified, find a local agent.
Seller - Clean the property, make needed repairs, find a local agent
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Mon Jul 1, 2013
Lila Henry answered:
Good Morning Coli,

As has already been suggested here, an option that you may have is to rent the home and see where the market goes as it relates to pricing. This is clearly not going to be an easy decision for you to make as the choice you make will have different affects on your life. Renting is a great option when you properply screen a tenant, but with that choice you then have to ensure you are receiving the monthly rental in order to cover the mortgage, insurance and property taxes. Keep in mind that the property taxes would go up, as this would no longer be your homestead property, which you will want to factor in your rental amount. As an absentee landlord you will want to also ensure that you have someone local that would be able to take care of any repairs or items that need to be taken care of for the tenant.

If your decision is to sell it as a short sale, I do agree with Dan in that you will want to work with an agent that has had actual experience in closing short sales. Working on short sales does take additonal time that a conventional sale does not and does require an agent that know how to work with the bank on getting all documentation in to them in the way that is requested. Not all short sales are the same, seller circumstances are different, lenders are different, this is where experience is vital to guide you through the process.

Before making the decision to short sale your home, you will want to consult an attorney as well as a tax advisor to know what possible issues you may have to deal with. You want to know upfront what you may have to deal with. Depending on the difference between what you owe and the current value of your home, you will want to analyse how long it would take to then be on the upside of value in relation to the current mortgage balance.

Good luck with your search for information. Please feel free to contact me if you have any questions on this matter. I do work with accountants and real estate attorney's that can provide you with the information you will need to make your decision. I have been doing short sales for the past 4 years and have been sucessful in getting the transactions closed for my buyers and seller.

Lila Lopez
RE/MAX Advance Realty
305-772-2521
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Tue Jun 4, 2013
Charles Mixon answered:
This question should be asked to a legal expert before you take any action. Some of your options are Deed-in Lieu, as well as possible short sale and the last resort is foreclosure by the bank. I try and explain the difference between the three like the different degrees of a burn. No burn is good, but First Degree is better then Second Degree Burns, and Second is better then Third.

So the worst thing for you credit is a foreclosure so that would be like Third Dregee Burn that are deep burns with charing and could lead to loss of life. So that why I say that Foreclosure is a last resort.

Deed-in Lieu is more like a Second Degree Burn , lees chance of loss of life but still serious. The deed-in-Lieu will effect your credit but not as bad as a foreclosure. It shows that you were willing to work with the bank and turned things over to the bank in good condition, and the bank had lees expense in not having to foreclosure.

The Short Sale option is the best for everyone in that you work with the bank to sell the property and assit the bank in getting new owners. You may or may not get a charge off list on your credit. This offer will get the highest value in a sale, also meaning more paid off what is owed.

The last thing I want to mention is you said two houses, only one can be your homestead or primary residence. The second property will be looked at as Investment and could incur serious Tax Issues, and should speak with a tax professional before any action is taken.
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Sat Sep 15, 2012
Unspecified asked:
need apt/townhouse,1/1,max $880. Kendall area or 33143 zip (small dog accepted) washer/dryer, a/c, parking,no slums
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Thu Jul 14, 2011
Merritt Noel answered:
I agree with both what Beate and JoAnn stated. Your credit score obviously will be the determining factor whether you do or not qualify for a home loan. A FHA or VA loan is the best option for those that have a damaged credit history or less than perfect. While the minimum credits score have risen over the past 12 months, you can still get approved for a FHA loan it you have a 580+ credit score. While you will have a slightly higher interest rate with a 600 credit score versus a 680, the difference is minimal due current interest rate spreads. For example, a borrower with a 600 credit score is looking at a FHA loan with an interest rate of 4.5%while a borrower with a 700 credit score is looking at 4.25% at today's market rates.

The one question I would ask you...and one I ask all my clients. Do you think you financially are ready to own a home? Not only do you have to make a mortgage payment monthly but you also have to be ready to handle any household repairs which can be rather expensive.

In any case, I wish you the best of luck and hope you are able to achieve your goal of owning a home in the near future.
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Mon May 23, 2011
841514 asked:
Tue May 10, 2011
Phil Rotondo answered:
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