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Home Selling in Overland Park : Real Estate Advice

  • All112
  • Local Info7
  • Home Buying29
  • Home Selling4
  • Market Conditions5

Activity 10
MCM_STL, Home Buyer in Saint Louis, MO
Thu May 19, 2016
MCM_STL answered:
There's no rollover. Up to $250,000 for a single person or $500,000 for a married couple of gains (Sales Price - Purchase Price + Selling Fees) is tax-free. You'll only pay taxes if your proceeds exceed those amounts. It doesn't matter what you do with your profits either. ... more
0 votes 1 answer Share Flag
Alynnfin, Home Buyer in Overland Park, KS
Mon May 16, 2016
Alynnfin asked:
off.
How? How do I get the house I just sold off this site because I am tired of getting phone calls? I didn't list it on Truilia and really am angry that someone did. It is at 8951…
0 votes 0 Answers Share Flag
Javier Monti…, Real Estate Pro in Covina, CA
Wed Mar 11, 2015
Javier Montiel answered:
Steve Anders…, Home Buyer in Overland Park, KS
Sun Mar 8, 2015
Steve Anderson answered:
See the FSBO at 10444 w. 131st street. Culdesac, wooded lot and walk 300 ft. to elementary school.
0 votes 7 answers Share Flag
Carol Culkin, Real Estate Pro in Leawood, KS
Fri Oct 11, 2013
Carol Culkin answered:
If you are still looking for an agent, why not consider somebody who has a limited clientele and can devote time and energy rather than juggling many clients. I have experience and a proven track record. Just returning to real estate after a 1 year sabbatical (very well rested and ready to hit the ground running). Call me if you are interested (913) 333-8310. ... more
0 votes 5 answers Share Flag
Angela Shopp…, Real Estate Pro in Lenexa, KS
Sun Jul 22, 2012
Angela Shopper answered:
If you are using the standard KCRAR contracts:

page 5:
BUYER may obtain Loan(s) different from those described herein provided that the terms of the Loan(s) do not result in additional costs to SELLER, delay the Closing date, or change the Loan approval time frame. These changes must be agreed in writing, by both parties, within 3 days of BUYER’S knowledge and no later than ____ business days before Closing (15 days if left blank).
BUYER and SELLER are hereby informed that any changes to the terms below after the Effective
Date of the Contract have the potential to delay Closing and/or change costs due to federal regulations.

page 6
SELLER is aware that pre-approval is not a guarantee that BUYER will receive Lender(s)
Loan approval(s).

page 7:
LOAN APPROVAL(S). BUYER agrees to make a good faith effort to obtain a 324 commitment for the
Loan(s) within __________ calendar days (30 days if left blank) from the Effective Date of this
Contract (the “Loan Approval Period”) or within ________ calendar days (5 days if left blank) prior to
the Closing Date, whichever is earlier.

If BUYER is unable to obtain a commitment for the Loan(s) within the Loan Approval Period,
BUYER or SELLER may cancel this Contract by written notice. If BUYER is unable to obtain the financing described herein, BUYER must provide written evidence of rejection from BUYER’S
Lender(s). In either case, BUYER’S Earnest Money will be subject to the provisions of the Earnest
Money and Additional Deposits paragraph of the Contract.

Hopefully this answers some of your questions - interpreting the legal ramifications of the contract would need to be addressed with an attorney.

Thanks and good luck in closing - If it is any consolation, i have had deals nearly fall apart over lending and have had great success in changing lenders if the first lender has reached a roadblock in underwriting. Each lender's underwriting rules can be different so keep the faith and try to work with your buyers to close the deal. It is usually still faster to re-do the loan for the existing buyer than to start looking for a new one.

Angela Shopper 913-707-6884
... more
1 vote 3 answers Share Flag
Rob Wilson, Real Estate Pro in Olathe, KS
Thu Jul 19, 2012
Rob Wilson answered:
It's nearly impossible NOT to have a C.L.U.E. report pulled on any home being sold these days. Usually it's obtained by the buyer's insurance company, which will indicate if the home is "uninsurable" due to previous claims history. ... more
0 votes 3 answers Share Flag
David Van Noy…, Real Estate Pro in Leawood, KS
Fri Jul 24, 2009
David Van Noy, Jr. answered:
If you are talking about a letter or intent or a purchase agreement then I would be glad to help you. How much do you plan to put down for the earnest deposit and how much do you plan to finance? Also, tell me about the possession date etc.

PS, Have you already made your move to AR?

David Van Noy Jr.
... more
0 votes 2 answers Share Flag
David Van Noy…, Real Estate Pro in Leawood, KS
Wed Nov 19, 2008
David Van Noy, Jr. answered:
So, clearly the answer should be that the seller should be entitled to the earnest deposit in the situation that you describe, however, It is important to interpret whether the return of it was based on approval or if it was based on the buyer being able to obtain financing. The financing addendum of a base real estate contract can be vague but the manner in which it was filled may come into play. Regardless, it may be better to just settle for something like HALF and cut your losses and avoid mediation or a small claims suit. Good LUCK!! Let me know if I can help further.... ... more
0 votes 1 answer Share Flag
David Van Noy…, Real Estate Pro in Leawood, KS
Sat Jul 26, 2008
David Van Noy, Jr. answered:
I found your other question here, I am wondering if it may be easier to do a little research on me to make sure that you are comfortable with my expertise and then we could have a discussion over the phone about the BEST way to arrive at your sales price here. Look forward to talking with you soon....

David Van Noy Jr.
(816) 536-SOLD

http://www.davidvannoyjr.com/seller-value.asp
... more
0 votes 4 answers Share Flag
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