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Home Buying in Port Richmond : Real Estate Advice

  • All24
  • Local Info3
  • Home Buying7
  • Home Selling0
  • Market Conditions0

Activity 7
Tue Sep 9, 2014
Annette Lawrence answered:
Remember those moving staircases at Hogwarts School of Magic.
That what this question reminds me of.
Lots of unintended stuff getting connected.

Welcome to Zulia, the land of potential magic.

Someone please contribute a toaster and kitchen sink to make this image complete.
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Wed Sep 4, 2013
Don Sherman answered:
Hello Andrew;
Which listing are you speaking of?
As the below agent said ,your phone number is out of service .Please call me at 267-716-8228 so we can talk further about your home buying needs.
I have a brand new listing in Port Richmond that is exquisite.
Don Sherman
Century21 Advantage Gold
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Fri Jan 25, 2013
Sheri Curci answered:
Good Evening Mike, There are 3 reasons why a home would not sell....


I've been happily selling homes with Sheri over 17 years and the last 5 years have been the Most difficult time to sell property.

Please note I said Difficult.... Not Impossible... I love a Challenge

Feel free to call me if your Interviewing?

All the Best John + Sheri 215-757-2889
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0 votes 5 answers Share Flag
Sat Jan 9, 2010
Leasing To Own Solutions answered:
Hey there Kathy...

Lease-to-Own deals are typically used in housing market downturns, but can actually be used in any market.

The simplest way to look at it is this:
A Lease-to-Own is a basic lease agreement used with an Option to Purchase contract. A Tenant/Buyer leases the property from the Seller/Landlord for a certain amount of time at a certain price with monthly lease payments. On or before the end of the lease, the Tenant/Buyer has the option to buy the property at that certain price (usually agreed upon prior to the start of the lease). The Tenant/Buyer typically gives the Seller/Landlord money upfront which is usually non-refundable (called option consideration) for the right (but not the obligation) to purchase the property and to take it off the market. Many times, the Tenant/Buyers will receive "Rent Credits" each month which they can apply to the purchase of the house.

It's almost the same as when you lease a car from a car dealer instead of buying it. The car dealer will say that it's $xxxx money upfront and you can drive away with lease payments of $xxx per month. At the end of the lease (however long you agreed to), you have the option of purchasing the car or giving it back to the dealer. It's very similar.

There are a lot of little subtle things that go into the paperwork when you Lease-to-Own or offer your house as a Lease-to-Own, which is why we suggest using a Lease-to-Own Professional or knowledgable Real Estate Attorney/Title Company who has successfully completed one.

Because the Tenant/Buyer is not able to purchase the house using traditional methods (ie...go to a bank and get a mortgage which will CASH out the Seller so he/she can move one) because they either have no or poor credit which is needed to get financing or because they need more time to save up for the rest of the downpayment, the Seller/Landlord will offer them TERMS at a slightly higher total price.

If you would like to see the Pro's and Con's, here is my post on Trulia:

I've also put the benefits for Tenant/Buyers and Sellers on my website too in case you want to check it out.

Hope this helps you out.

Lease-to-Own Professional
Independent Consultant
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Tue Aug 18, 2009
Barneys_mom answered:
We just moved to Port Richmond last summer, and we bought a house with almost that exact description (it's 1.5 baths b/c of the powder room on the 1st floor and a tiny bit more square footage b/c of a slight addition on the 2nd floor) and we paid upwards of 130,000. We are also on the east side of aramingo- actually closer to richmond than aramingo. The house itself was in move-in condition, as it had been completely redone the year before.

Hope that helps- good luck!
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Thu Jul 2, 2009
Sean Dawes answered:

If you are looking to list or even buy commercial, I offer graphic design work which you will not see with some of these older commercial brokerages.

Whether you are selling a space and need to help that buyer invision the end product or you are trying to buy/ triple net lease something...I can show you what your space can look like.

Just let me know and I can email you examples of work I have done for clients.

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Mon Jun 1, 2009
Renee Porsia answered:
Hello Kathie,

I do have a question for you. How do you know your home depreciated that much or at all?

Another question that I have is, was the home really ever worth what you paid? As you are aware, the real estate market is not the same as it was even a year ago. There were a lot of unethical Realtors, lenders and appraisers out there and innocent people like yourself were taken advantage of.

Not knowing all of the facts, those are just two of the questions I have with regard to your situation. Perhaps you paid too much for the home to begin with.

Now, if the home went back to what it is actually worth, you may have lost value. There is nothing you can do about that now.

If you need to sell, then you would have to list your home for what it is now actually worth and perhaps take a loss. If you can get enough to pay off the mortgage, then that is the important part. If you can't even get enough to pay off the mortgage, you would have to go to settlement with the difference to pay back the lender.

If you have to sell, you could find a Realtor who is an expert with short sales which is a whole different story.

If you do not have to sell, then no worries. Your home will appreciate again and if you make any improvements, that will only help your situation. Improve the bathrooms and the kitchen. That is what most buyers want and what appraisers really look for.

If you want to provide more information, that would be great,.

Feel free to contact me if you have any questions for me.

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
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