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Home Selling in Toledo : Real Estate Advice

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  • Local Info10
  • Home Buying57
  • Home Selling9
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Activity 15
Sat Dec 31, 2016
Jkayrunner asked:
We have our home for sale by owner. We have reduced our price BUT trulia still has our original price. This is not helping to sell our home. Our address is 1348 Ogontz toledo, Ohio. Our…
0 votes 0 Answers Share Flag
Mon Aug 22, 2016
Maricris A answered:
Hello,

To post your home for sale by owner on Trulia, click the link below and select “Submit listings for sale.”

http://www.trulia.com/submit_listings/

You will be redirected to our partner site, Zillow. Once you’re on Zillow’s posting page, please make sure to select “For Sale by Owner” under the address field. Once you activate your listing on Zillow, it will appear on Trulia within 24 hours.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Regards,

Maricris
Consumer Care Advocate
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Sun Aug 21, 2016
Ronald Prince answered:
The listing agent benefits regardless who sells the property. That's why we seek listings. He who lists controls the market. I'm quite different than most agents out there in that I like to sell my listings and make double the commission, listing and selling fees. The buyers are out there. One must be innovative, creative and smart to catch them, to put your property in front of their noses. I like to give group buyer caravans every Sunday. I get at least one sale almost always. Ron/Realtor (205-222-8774) ... more
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Mon Oct 5, 2015
Scott Godzyk answered:
There is a market fo rhomes like this to investors, a good listing agent who work with investment properties can assist with pricing and reaching the cash buyers who weill be interedted in buying to get you offers, ... more
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Tue Jul 21, 2015
Brian F. Walsh answered:
No this website does not allow that.
0 votes 2 answers Share Flag
Tue Jul 21, 2015
Javier Montiel answered:
No, only Realtors can advertise a home for sale on Trulia.
0 votes 1 answer Share Flag
Thu Dec 4, 2014
Carol Venia-Stokes answered:
Hopefully you've sold your house by now, but I believe a good marketing campaign can boost the sale of a home. I don't believe you are doing anything wrong, you fell in love with the house when you purchased it and that "right" buyer will eventually come along. The market is tricky right now and it's more difficult for buyers to get approved, so be patient and make sure your Realtor is marketing your home. For any further advice or if anyone reads this and needs more info, contact Carol Venia-Stokes at carmad1360@gmail.com or Text or Call 567 202 7021. Thank you and Good Luck! ... more
0 votes 12 answers Share Flag
Thu Dec 4, 2014
Carol Venia-Stokes answered:
Yes, your husband will need to release dower. When you're married, no matter when you purchased the property, you're both considered owners. Good luck. Hopefully this helps. Carol Venia-Stokes - email: carmad1360@gmail.com ... more
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Thu Dec 4, 2014
Carol Venia-Stokes answered:
In Ohio, only Agents that have been approved by the listing Agent can get into the house. If there is not lock box then a key would have to be obtained. Do not let anyone in unless you have received confirmation from the listing agent. ... more
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Sat May 19, 2012
Jim Beatty answered:
Chad makes good outlines of the basic contract for deed deals available.

Contract for deed can be a good way to sell if you have the right buyer.

And with most contracts for deed, all is fine and good as long as all is fine and good.

However, one must also look at the downside;

Default

What happens when they stop paying, for whatever reason (job loss, other financial burden, death of one of the bread winners or even sometimes plain outright scroundrelism)

Before going on, please remember that I'm not a lawyer and this only a quick overview and certainly NOT to be considered legal advice.

My understanding is that there are certain points along the various contracts where a lessor/vendor/buyer (from here out, we'll just say "buyer") attains "equitable interest" and once this buyer has enough "equitable interest" or in some cases, if he has been paying in his contract for a certain period of time, the title holder must go through a formal foreclosure to get the property back. If there is an underlying mortgage on the title holder's property, he is still liable to make those payments even though the buyer is not making his payments.

"So, I still get the house back, right?".....well, yes, BUT I've heard attornies tell me that a simple foreclosure will cost a few thousand dollars, typically. I believe the cost being quoted there are just the legal fees to the attorney.

Most foreclosures are not "simple" or "typical" though. Some of the foreclosures performed by fannie mae, freddie mac and others cost ten and twenty thousand by the time they are finished.

What if the debtor doesn't accept the legal notice and you have to pay to run public notice for a period of time in the legal news? What if he finds some easy ways to delay the process? What about fees to process servers? What about court costs? What about the time needed for court appearances? (which might interrupt your schedule, your work and your paycheck) it doesn't take long for ten thousand or so in fees and other costs to add up.

Which leads to another point, if there is a mortgage on the property now, the language in that mortgage probably stipulates that you are not allowed to sell on contract for deed while that mortgage is in force. What if you sold your house to someone on some contract for deed and then received a notice of default from your own lender informing you that you are now in default of the terms of your mortgage agreement and you must cure that default immediately or they will begin foreclosure proceedings on YOUR mortgage?

Not to mention what happens if the first people who give you some "option consideration" or "down payment" money don't have the means to complete the deal and trash the place before they leave?

What if you sell on a lease option deal, giving the lessees 3 years to pay you off (refinance through a lender) and they gave you several thousand dollars up front for that option to purchase....then for what ever reason they could not get financed and have to move.

Would there be a chance this person would be, let's say, "less than happy campers" at that time?

Sure, sure, many realtors will paint a rosey picture for you in hopes to get your business, but I suggest that one take a deep breath and look at the potential downside as well.

I once read a book written by a Michigan broker who does big business buying and selling houses on various contract sales and she says it takes an average of 3 buyer/lessors before she actually sells a property (the buyer is able to re-finance and pay her off).

Now, when I consider from the tone of your question that this house may not have been purchased as an investment property, but as a home for you to live in, I wonder if your cost basis is low enough to weather these potential storms?

Sure, these deals can and do work, but most of the successful deals are usually either between close family members (where they both are honorable and dependable in their dealings) or done by professional investors who buy the properties at low enough prices to begin with that they can handle the set backs.

Best of luck to you in your situation!
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Fri May 18, 2012
Tarheit answered:
Forclosure: Credit it not affected forever. "The Fair Credit Reporting Act allows the legal action of foreclosure to remain for 7 years from the date of filing." We've seen people purchase a new home after a foreclosure in 2-3 years. It can depend on the details of the foreclosure.

Also, in most cases they won't go after you for the deficency.


More details on the BOA program:
http://www.trulia.com/blog/molly_hay/2012/05/bank_of_america_s_new_short_sale_relocation_assistance_program

One big catch, you must approach BOA and get approved for the short sale before you have an offer.
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Mon Jan 3, 2011
Zachary Betts answered:
Sorry you are having a bad experience. You have the right to fire the agent. You have the right to expect that the agent will list on other web sites. This should have been brought out as his or hers marketing plan to sell your home. A good agent has 10-16 marketing steps to sell your home. One should be to put your home on the web so a buyer in Istanbul can find it if they are looking for it. I had a buyer find a home from Afghanistan. Ask questions like how many web sites will this listing go on? If you need a referral to a good agent in your area email me. Zachary Betts at zachb@kw.com ... more
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Fri Feb 20, 2009
Dee Nofziger answered:
Hi Hanna,

Chad and Jerry both gave good answers. I live in South Toledo myself. I did a quick search and this is what I found:

The Olde South End has 23 active listings for duplexes right now ranging in price from $11,900 to $99,000.
The Heatherdowns area has 2 active listings priced between $290,900 and $379,000.

The Old South End has 5 pending sales priced between $3300 (yes, $3300) and $24,500.
The Heatherdowns area has no pending sales.

The Old South End has had 8 sales of duplexes in the last 6 months ranging between $3800 and $55,000.
The Heatherdowns area has had no sales of duplexes in the last 6 months.

The reason for the very low prices is mainly that many of these properties were bought by investors during the "boom" and they ultimately foreclosed on and then sold as a :lender-owned". Many times these properties have been stripped of anything valuable, thus greatly reducing their value.

Another reason for the lack of sales is the stringent lending now going on with anything that is not "owner-occupied". A non-owner occupied will in almost all cases now require a 20% down payment.

With all that being said, the factors that will contribute to whether or not you are successful at selling your duplex are 1. location, location, location 2. a list price at market value 2. a realtor who will aggressively market your property to generate the most interest.

If you have any other questions please feel free to contact me directly.

Best of luck and warm regards,
Dee Nofziger
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