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07055 : Real Estate Advice

  • All10
  • Local Info0
  • Home Buying2
  • Home Selling0
  • Market Conditions2

Activity 8
Fri Sep 19, 2014
Ronald Shaffery answered:
Hi John,

Is it a foreclosure auction or a tax sale. ? Be aware that the tax auctions have a generous time period for the owner after the sale.

I've been to a couple of foreclosure auctions and I want to tell you that 90% of the time the bank that held the mortgage buys the house. Most of these homes have been foreclosed on, the bank is not going to let someone come in and buy the house for less than what they are owed. Occasionally you might get into a bidding war with the bank but then you have to consider, if it could have been sold for more than the amount owed, why did it get to this point.

I have never been to one in Passaic but this has been my experience in other counties in the state. Good luck on your future purchase.
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Thu Oct 17, 2013
Alexsandra Jarquin answered:

Your taxes are do every 1st of the following months: February, May, August & November.

As far as I am aware there are no particular laws as to how much a lender can calculate to collect taxes. What happens is that a tax search might not show what the next quarter taxes are so they rather over estimate and collect the money upfront then to chase the borrower after closing for the shortage. The title company will make the check to the town and usually when there is an overage a credit will be given to your escrow account. If the title company didn't send payment out yet then they will need to refund you the difference. Your bill and mortgage statement should be coming shortly if it has been 45 days. Giving them time to sell your loan to the secondary market. ... more
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Tue Jul 23, 2013
Edith Rodriguez answered:
Tue Mar 13, 2012
Don Tepper answered:
You were perfectly happy to agree to that condition when you signed the agreement with the agent. Now that you have a tenant, your mood has changed. If you read the agreement and signed it of your own free will, that's what you've agreed to.

You certainly can ask to renegotiate that provision, but the agent has every right to decline to do so.

If you wish to pursue it further, check with a lawyer.
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Thu Apr 7, 2011
Linda Beam answered:
How "poor" is your credit? In order to qualify for a mortgage, the lender looks at your income, job stability, your assets, your debt and Credit Worthines - no single element.

I suggest you speak to a reputable lender. Bring current paystubs and recent income tax return with proof of assets, if any.

If you need asistance with credit repair or have any questions, please call or email me.

Linda Beam
Associate Broker
SI Premiere Properties
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Thu Mar 17, 2011
Kenneth Verbeyst answered:
loopnet is typically commercial properties. If this is your property, did you offer compensation? If the realtor involved is a listing agent for a property you plan to rent they likely then are protected by their listing agreement. We may be able to assist better if you can give much more background information. ... more
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Mon Aug 2, 2010
Robert Suarez answered:
Hi Debbie,
Here is a good site for getting prices on commercial properties in Passaic
I hope this helps
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Sun Dec 13, 2009
Hugo W Meza answered:
Hopefully you got your property value already. I have done a lot of Valuations (BPO= broker pricing opinions) for banks. It is similar to CMA (comparable market analysis) I could do it for you if you have't done it yet. Appraisals would be your next choice as well! ... more
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