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Home Buying in Syracuse : Real Estate Advice

  • All178
  • Local Info17
  • Home Buying76
  • Home Selling10
  • Market Conditions5

Activity 90
Tue Aug 1, 2017
Alysse Musgrave answered:
There is simply no way for one agent to get the highest price for the seller and the lowest price for the buyer in the same transaction. Dual agency is illegal in every other industry but real estate. When you want to buy a home, hire an Exclusive Buyer's Agent to represent you, not a regular buyer's agent. EBAs represent homebuyers only, so there is no conflict of interest to jeopardize your negotiating position. Contact http://naeba.org for a referral to an EBA who will give you valuable advice, not a sales pitch.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
http://HelpUBuyAmerica.com

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
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0 votes 1 answer Share Flag
Tue May 9, 2017
Sally Grenier answered:
Not an ethics violation at all. Put yourself in their shoes. If somebody approaches the seller or listing agent and wants to buy the house and it's a great offer, they aren't going to turn them away! The agent has a responsibility to present "all offers" to the seller. Who cares if that offer came in before it hit the MLS. Maybe the seller told a friend or a neighbor they were selling and word got out and someone wanted to jump on it. That's their right to do so, and it's the seller's right to accept that offer.

And then the agent is smart to put it in the MLS, possibly already listed as "under contract" because the deal could fall through. Maybe they can get a backup offer in place.

I'm sorry I don't have a better answer for you. I know it's a very tough market for buyers but complaining about this isn't going to get you the house.

P.S. I'm in the middle of one of these right now. Property isn't listed yet, but buyers saw my "Coming Soon" sign and want to make an offer. I'm not going to turn them away if it's a decent offer.
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Wed Jun 29, 2016
Scott Godzyk answered:
A short sale means that the seller owes more than the house is selling for. They should have known how much they owe prior to putting the house up for sale. It does not just fall into a short sale status. The contract to purchase needs to have a short sale addendum if it is a short sale that protects all parties. You may need a lawyer to look at this ... more
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Tue May 24, 2016
"RICH" Richard Manfredi answered:
Hello!

Assuming you have not yet made an offer on this property and are not working exclusively with another Realtor and subject to an unexpired agreement (NOT simply a NYS Agency Disclosure form) with a particular Realtor (if you are, you would have signed an "Exclusive Right to Represent", and/or "Buyer/Tenant Agency Agreement")...

I would be happy to pull some comps and do a CMA on the house you are interested in in order for you and I to decide together what the best strategy is to get you the deal you are looking for.

I work for HUNT Real Estate. If my contact info gets removed by a site administrator, you can find me under locate an agent on their page. Just google Hunt Real Estate. Otherwise, call me at 315.480.9998 or send me an email at richard.manfredi@huntrealestate.com or visit my site www.richmanfredi.realtor.

I have no problem being "aggressive" for you! I look forward to hearing from you soon!

Rich Manfredi, Realtor
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0 votes 2 answers Share Flag
Fri Feb 19, 2016
Brian K George answered:
Generally speaking, with interest rates on mortgages as low as they are, it may be better to invest those funds and earn 8-12% annual returns on them than purchasing the home outright. This would allow you to grow your cash by 4-8% per year (assuming a 4% fixed 20- or 30-year mortgage). Of course you would want to put enough down so that your LTV is under 80%, thereby eliminate the PMI from your mortgage payment. On a $200,000 home, by putting $40,000 down, this would enable you to earn anywhere from $6,500-13,000 per year on the remaining $160,000. ... more
0 votes 30 answers Share Flag
Sat Jan 23, 2016
Kathy Burgreen answered:
The VA does not give mortgages for mobile or manufactured homes. A little education:

Mobile and manufactured homes are considered "personal property" - not real estate. If you buy or own the land or lot then it is considered real property or real estate and the VA will give a mortgage for the land only.
Real property or real estate is defined as purchasing the land + any building that is permanently attached to the land. Therefore since mobile and manufactured homes are not attached to the land, it is personal property and the VA will not accept it.

Another example is cooperative housing. I'm a former realtor in the NYC area and I learned from mortgage lenders that the VA will not finance cooperative housing because the buyer receives a certificate of shares to buy the coop unit - not a title or deed. Therefore without a title or deed, the VA does not accept it and the NYC area has million of coop buildings. The VA does accept condos because the buyer receives a title or deed to their condo.

Getting back to mobile homes, there are lenders that finance mobile homes but its not a regular mortgage lender. You need to go to www.mhvillage.com (manufactured home village) and contact lenders on that website. Beware that the value of mobile homes declines after you buy it. There is no equity and you do lose money.

A better solution for you would be to continue staying where you are and work on improving your credit. Cut down on your expenses, pay off outstanding debts and save as much money as possible. If necessary rent a cheaper place. Your goal is to get to 620 or better..
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Thu Jan 7, 2016
Jeannie answered:
Personally, I totally updated my 1980s kitchen for my own sake, but knew I would sell somewhere down the road. Within 5 years, I did sell. The new owner completely destroyed the beautiful kitchen I had redone with new granite, cabinets, windows, and gorgeous, special ordered sinks and fixtures. As a result, the tile and hardwoods were destroyed. I'm wondering if they even saved the top-line appliances. In the future, I will refuse to even paint to resell a home. ... more
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Thu Jul 23, 2015
Myreasha answered:
I am a realtor Investor looking for Cash Buyers, Quick Buyers only. I have a wide range of property to sale from Abandoned property to small homes. If interested please email me asap at myreasha@gmail.com ... more
0 votes 10 answers Share Flag
Sun Jan 18, 2015
answered:
You can get FHA financing with 10 percent down payment at the 560 middle fico score. Underwriting will be done manually and debt to income ratio over 31/43 will not be approved. You should provide complete information to be able to get a property mortgage pre approval.
Thanks




Sanjeev Ahuja, MLO NMLS 148731

Over Two Decades of Financial Service Industry Experience

Home Funding LLC NMLS 885573

110 Jericho Turnpike Suite 214, Room 2

Floral Park, NY 11001

Tel: 516-216-1987

Fax: 516-216-1986

Mobile: 917-517-2552

Email: sahuja@homefunding.biz
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Sun Nov 9, 2014
Alan May answered:
The listing agent probably told you what the seller told them. Our MLS listings contain language that says:

"the accuracy of all information, regardless of source, including but not limited to square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals."

in other words: Caveat Emptor (buyer beware)... it's the buyer's responsibility to confirm everything that's important to them.

It's very likely that it wasn't an attempt to trick you... It's very common for a seller to tell me that the furnace is only 6 years old, and when I have them produce the invoice, it shows that it was installed 10 years ago... it was an honest mistake... it just felt like it wasn't that long ago.
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0 votes 5 answers Share Flag
Wed Oct 22, 2014
McKenzie Kelly answered:
When you say sponsor you. what do you mean? Represent you in buying or selling?

McKenzie Kelly
Realty USA
315-657-7984
0 votes 1 answer Share Flag
Thu Oct 16, 2014
Tom McCollister answered:
I would hope your agent is being honest with you, you may just not be getting the quality of service you would get if you were a local buyer. If you're asking yourself the question on if you should change agents, that may be your answer already, or you may just need to let your agent know your expectations, and that you would like additional photos when he looks at a home for you. Letting him know your expectations of service, may be sufficient. You'll then quickly know if he's willing to give you the service you need or if it's time to find a new agent. If you decide to make a change, I can do some asking around and help you find someone in that area that will take good care of you.

Tom McCollister
Keller Williams Realty
tom.mccollister@kw.com
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1 vote 4 answers Share Flag
Mon Sep 1, 2014
cashinasnap answered:
Well its good that you have a plan to own a property, but do check your credit score before. Because basis on your credit score only, you can apply for any housing loan, else pvt. institutes are working to provide you financial assistance even without knowing your credit history. ... more
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Wed Aug 20, 2014
Benjamin Bittel asked:
My wife and I are looking at houses in the rural area west of Syracuse, NY and would like to apply for a mortgage through the USDA Rural Development program. Are there specific lenders in…
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Tue Jul 22, 2014
Kathleen Testa,GRI answered:
I would be happy to assist you. I specialize in First Time Home Buyers going VA.

Please call 972 754 4130. I will guide you through this.
Kathleen Testa
0 votes 2 answers Share Flag
Tue May 27, 2014
Nancy answered:
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