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Home Buying in Waltham : Real Estate Advice

  • All72
  • Local Info5
  • Home Buying37
  • Home Selling8
  • Market Conditions1

Activity 39
Sat Jan 10, 2015
Brian F. Walsh answered:
You re bound by that lease. You can still buy the house and let the lease run out as long as you pay all the payments or you can speak with your landlord and work out some sort of deal to get out of your lease.

Best,
Brian
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Sat Jan 10, 2015
USMortgageRanger answered:
I would check with the Landlord first to see how much to buy out your lease as you do not want this on your credit. Once you have determined how much then get Approved by a Lender. During the approval process, we will do a down payment and closing cost analysis where we tell you exactly how much down payment you will need and exactly how much money you will need to have in closing cost, And if you need help with either we can point you in the right direction to get assistance. We will also work with you to identify an Agent who will work with you Landlord to cover the remainder of the lease.

As an FDIC bank that make loan nationwide we are here to help you make the best decision for your family based on sound responsible, knowledgeable financial guidance.My Office hours are from 08:00 AM-07:00 PM Mon-Fri & Sat 10:00 AM – 06:00 PM CST. I look forward to talking with you.

Lowell E. Sterling
Mortgage Banker
NMLS# 968898
The Federal Savings Bank
Direct: 512-717-0403
Mobile: 469-347-3572
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Tue Sep 9, 2014
Richard Shapiro answered:
There will be noise and vibration. You need to be in the house when a train goes by so you can determine if its something you can live with. You will also get used to it over time.
0 votes 1 answer Share Flag
Wed Apr 30, 2014
Daphne Romanoff answered:
In addition to the very helpful answers posted here, here is my comment: Bedrooms are not legal in basements. The only exception would be, if there are regular-sized windows present (not the typical basement windows). Sometimes with houses built on sloped lots, there are large windows in the back. If this is the case (not too common), the decision to count a bedroom, (and any legal square footage for that matter), is often at the discretion of the local Assessor. I have found that there is much room for interpretation among Assessors! ... more
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Tue Mar 11, 2014
Nancy Butterly answered:
Praveen, I just noticed that you had posted a questions regarding an investment property - have
you been able to find what your looking for? Have you been a landlord in the past? Maintaining
rental property can be difficult - but making the right purchase can help. Please feel free to reach out
to me if you still need assistance. Good luck! - Nancy Butterly nancy.butterly@ziprealty.com
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0 votes 8 answers Share Flag
Tue Mar 11, 2014
Nancy Butterly answered:
In this current market it is not likely. Inventory is low in all towns. The Sellers get multiple offers on
their property so there is no need for them to get creative. What I would recommend is that you check
with a lender and see if your eligible for MA Housing, USDA, or FHA financing. If you have had a
bankruptcy in the past there are still possible loans out there. Contact me directly and I can put you
in touch with some great mortgage professionals to talk with. I look forward to hearing from you.
nancy.butterly@ziprealty.com
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0 votes 3 answers Share Flag
Tue Mar 11, 2014
Nancy Butterly answered:
Yes and no...sorry for that answer but you would have to start with the town building department
where the property is located. Find out if the home is zoned as a multi-family. If it isn't you will
have a journey ahead of you.....if it is ok you will need to go before the town's planning board and
other. Check with the local town for their restrictions. Hire a lawyer familiar with real estate
law from the town you are planning to purchase this in to help you. Good luck!
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Tue Mar 11, 2014
Nancy Butterly answered:
Hi Canuck - I have lived in the MetroWest area - I think you should start to narrow down the towns
you want...that comes from talking with co-workers and agents. Are schools important for children?
Do you need to be near a commuter rail? A daycare facility? You say you are not interested in
living in Waltham, so do you want a more country setting? Talk with a few Realtors and see who
you have the best "connection" with. Once that is done they can provide you with information that
will be helpful to your decision. I am always happy to chat about the area so please feel free to call
me or email me directly. nancy.butterly@ziprealty.com
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0 votes 14 answers Share Flag
Fri Jan 24, 2014
Donald Kjornes answered:
To answer your question most of them are not real Contract for Deed properties. Most Realtors around here think Contract for Deed means a typical Real Estate transaction. In the Midwest Contract for Deed means the same thing as Land Contract around here. (Don't believe me? Type in Contract for Deed in RocketLawyer.com and see what kind of contract pops up, or do a Google search for the definition. It implies that the owner will carry or finance however he will not deliver the deed until after the contract has been fulfilled. I have bought two properties this way in the Midwest. One in Minnesota and one in South Dakota. Both involved a substantial down payment and a balloon payment so the sellers wouldn't have to wait to long for their money. Both of my Contract for Deed purchases worked out great. However I have read horror stories about people overpaying because their is no appraisal, or the contract holder getting foreclosed on even though the Contract for deed buyer is on time on his payments. Then losing his home and his substantial down payment due to the sellers irresponsibility. If you ever buy a property that is owner financed they should own it outright. There should be a preliminary title search and there should be nothing clouding the title. Their should be title insurance. Their should be something in the Contract saying they cannot take out a loan on the property while you have equitable interest in it. You should definitely have the Contract For Deed recorded at the registry of Deeds. You should also have a appraisal done even though it is not required, or at minimum a BPO (Broker Price Opinion) or a CMA (Comparative Market Analysis) Realtors will usually do a CMA for free as long as you work with them on your deal. If anyone is looking for a Realtor who has some experience in this area please give me a call Donald Kjornes 978-846-6736 Thank You in advance Here is more unbiased information from the Fed on (Contract for Deed) ... more
0 votes 5 answers Share Flag
Tue Nov 12, 2013
Heath Coker answered:
You can find the correct information for free in MA.
Search the appropriate registry of deeds.

Look for Order of Notice - that is one of the early steps.
Follow that address or get help from a professional.

I would use a local professional to save time and money and also to make sure you don't miss a great one.


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
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Mon Oct 29, 2012
Heath Coker answered:
And the reason not to live in Waltham is?
You have personal criteria that is not necessary to add to theis site, but when presented to a real estate professional will help them save you time and money.
I would contact a local real estate professional to help with this answer.


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
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1 vote 5 answers Share Flag
Sun Aug 5, 2012
Warren Abramson answered:
I live and work in Waltham. I work for a direct lender who has been in business for 25 years.
We are a preferred lender with Mass housing.
taxes, condo fees, etc vary by complex.
One advantage with Waltham is the residnetial tax excemption as a resident. I can go over that with you.
Please feel free to contact me
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0 votes 8 answers Share Flag
Sun Aug 5, 2012
Warren Abramson answered:
Yes, please give me a call at 781-424-8931. I work for a lender
0 votes 6 answers Share Flag
Sat Jul 28, 2012
United Inspection answered:
Visit the Waltham MA Home Inspection web page from United Inspection Service.

Contact United Inspection Service at 508-788-1447 or email unitedinspection@live.com
0 votes 1 answer Share Flag
Sat Jul 23, 2011
Louis King Real Estate answered:
Most of the older homes on Mokema are smaller than the average Waltham single family home. As families expand, it's understandable they'd sell to trade up to a larger home. If you don't need a large home, it's your opportunity to get into Waltham for short money.

The location is a desireable one; quiet street, close to stores and public transportation, not far from route 128 and route 2. Just since 2005, 4 brand new homes have been built on Mokema. One of them just sold for $490000 in 2010.
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Mon Jul 18, 2011
Oh Give Me A Home answered:
Thanks, everyone, for the input. The foreclosure process seems to be a tricky one. Its great we have professionals like you to help make it all a bit more understandable.
0 votes 5 answers Share Flag
Sun Jun 19, 2011
Oh Give Me A Home answered:
I'd be careful about buying in Waltham in general, and especially based on appears to be a nicer area. There are a number of properties which receive exceptions in zoning, allowing for large houses to be built on small lots -- many less than the size of a basketball court. Some other towns and cities require over an acre of land for certain areas, and have more stringent control over zoning exceptions. So you may pay more initially, but have fewer surprises in terms of more construction and crowding in those towns and cities.

There are some nice areas out there in Waltham, but doing research is very prudent -- including if there are any pending lot exceptions about to be built right near your property of interest. You can check the building permits for properties in the vicinity, and see if there is pending construction nearby. Another tip may be seeing if the property you are considering is already less than the zoning minimum required for the district. If it is, you may be finding yourself soon in a more crowded neighborhood than you realized. The zoning maps and zoning requirements can be seen on the city website, and compared with other city and towns in Massachusetts that freely provide that information online as well. The lot sizes of properties on the street can be seen on the appraisal listings also available on the Waltham website, as well as the date of the development of the property. This can give some sense of stability in a neighborhood.

It's a nice city in some respects, but overdevelopment is definitely a concern in this city. Future Waltham home values may decrease due to this continued crowding of certain neighborhoods. For myself, buying a home in the Waltham Highlands has taught me some unfortunate lessons, especially about zoning practices in this city. My hope is that others choose their location wisely, and avoid the problems for their new home choices.
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Thu Aug 26, 2010
Tom and Joanne Team answered:
Was:

I have a listing in Waltham on 178 Virginia Road in Waltham, and there is a primary home owners tax exemption in Waltham. This is dealt with between the home owner and the city of Waltham. You simply contact the tax department on Main St at City hall and they can assist you. ... more
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Sun Jul 25, 2010
Don Tepper answered:
Along with what Ron and Debbie say, your Realtor should have helped you transfer over the utilities. That is, your Realtor should have provided you with the phone numbers and contact information before closing so that the utilities could be switched over into your name.

If that wasn't done, it's still likely that your Realtor has a list of all the services (electric, gas, water, etc.) and contact information for them. Otherwise, contact your city government for that contact information.

Hope that helps.
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