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Home Buying in Oakland : Real Estate Advice

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  • Home Buying1
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Activity 14
Wed Sep 21, 2016
Diane Christner answered:
It will depend on the preference of the closing agent/title company. That being said, I do not know of a single title company or real estate attorney in my area of FL (Sarasota - Bradenton - Venice) that will accept a cashier check at closing anymore. All require the closing funds to be wired to the closing agent's account as there has been check fraud regarding cashier checks. ... more
0 votes 17 answers Share Flag
Mon Apr 11, 2016
Mark LeMenager answered:
Should be doable. Click on my picture and contact me and I'll send you a couple of good mortgage brokers.
0 votes 1 answer Share Flag
Fri Feb 27, 2015
Carol Schmid answered:
Everything that was charged to you should of been disclosed to you prior to closing. Our office always puts every charge on the table early in the transaction and there are certainly no unexpected fees from us. Sorry to hear you are going through this and I hope you get it resolved
Carol Schmid
John Edwards Realty & Investments
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0 votes 5 answers Share Flag
Sat Nov 22, 2014
Mark LeMenager answered:
All depends on your lender. You need to be totally honest and up front with them about the situation.
0 votes 3 answers Share Flag
Wed Oct 15, 2014
Mark LeMenager answered:
Sure, here's a few you can try:

EBI - Envirotect Building Inspection
Contact: Steve Rohal

Shockley Home Inspections
Contact: David Shockley

US Inspect
Contact: Paul McElroy
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0 votes 1 answer Share Flag
Fri Sep 26, 2014
Mark LeMenager answered:
Everything is always negotiable. The As-Is contract is the norm these days, but that does not mean you can't wheel and deal. I have had this happen several times. Here's what I do with my buyers. We exercise their right to cancel the contract and at the same time make a without prejudice offer laying out the terms on which we would continue to the closing. Typically we send them two addendums, one the cancelation and release, the other an addendum with the repairs and/or concessions we want. We then let the seller decide which one to sign. Do keep in mind this is for major problems only. ... more
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Tue Jun 3, 2014
Andy Wood answered:

I would be happy to talk to you about this.....I have been in the mortgage business for 21 years and actually specialize and teach continuing education to Realtors on renovation financing. You can use those funds, however, there are actually 3 different loan programs that are available and we can discuss the one that best fits your financial situation. Please feel free to reach out to me via phone or email if you would like my assistance.

Thank you and best of luck to you,

Andy Wood
Titan Home Lending
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0 votes 1 answer Share Flag
Sun Oct 27, 2013
John Lazenby answered:
If you are still looking for an opportunity,
feel free to contact me.

John Lazenby
0 votes 5 answers Share Flag
Sun Oct 27, 2013
John Lazenby answered:
Sun Oct 27, 2013
John Lazenby answered:
As other Realtors stated, speak with the Realtor who represented you on the transaction.
If you chose not to use the services of a Realtor and you are 'on your own', consult with
the builder.
It is not unusual for lots that are on the perimeter of a community or lots that border a pond or water feature to have these easements.


John Lazenby
Colony Realty Group
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0 votes 5 answers Share Flag
Thu Feb 16, 2012
Barbara Devine answered:
We purchased a Meritage Home (new construction) in Johns Lake Pointe and have lived here for 8 months. Please check out this new community. We have a wonderful neighborhood already and it keeps getting better! Our home is beautifully built and you get A LOT of home for your money. ... more
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Thu Jul 22, 2010
Christopher Vaughan answered:

When I think retirement a lakefront cabin comes to mind. How about one on Lake Hancock listed at $238,900 and surrounded by multi-million dollar homes? Please call me if you would like to see this or any other homes in the area. Chris @ 407-405-1225
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Wed Apr 7, 2010
Don Tepper answered:
Sure, it's worth something. The question is: How much?

A Realtor can run a CMA on the property and determine its value.

The way you've described it doesn't make it sound very attractive. Still, it is worth something.

The other question, as Michael points out, is whether you really want the property at any price. I'm guessing that, at the right price, you'd be OK with it--you do talk about the possibility of updating the house and gradually changing things.

Meanwhile, I'm guessing the owners pretty much want to get rid of the place. It's not in great condition and they know they're going to be facing a whole string of repairs and upgrades. They also know it's not too easy to rent and that, if you move, it may sit vacant for quite a while again. But you're in there right now, and if you bought, it would get that home off their hands.

You don't say whether you'd be getting a mortgage on the home or trying to get seller financing (which I suspect would be possible here). That'll affect your strategy somewhat.

Also, have the owners named or hinted at any price they'd like for the house?

With that set of facts and assumptions, I'd suggest getting a Realtor in to do a CMA, as I've already suggested. Also, determine what expenses you'll be facing in the short term with the house. And what would a home inspector identify?

Take the Realtor's CMA. Subtract immediate repair and maintenance needs from it. Then offer some percentage of that to the owner. Maybe 60%-70%.

Example: The CMA is $210,000. It needs $10,000 in immediate repairs and maintenance. Subtract the $5,000 from $205,000, and you're down to $200,000. You might consider an initial offer of $120,000-$140,000. (Unless, of course, the owners have suggested they'd be willing to let you have it for less. Then offer less than their initial offer.)

That's what I'd suggest if you're somewhat interested in the possibility of buying the house. Using that process, you'll get a good value. And the sellers will be able to unload their property without much hassle.

And don't worry about "insulting" the sellers. They approached you, not the other way around. And it's easy enough to justify a low offer. Remind them of the repairs they'll be facing if they don't sell. Remind them of the cost of the property being vacant another year. If you and they use a lawyer and not a Realtor to sell, you can point out that there might be some savings of a real estate commission. All of those have real value. Plus, as you note, real estate values may continue to decline. The house might be worth 10% less next year just due to market conditions.

That's what I'd suggest.

Hope that helps.
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