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Real Estate Tax All Locations : Nationwide Real Estate Advice

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Showing results for Real Estate Tax [Clear search]
Tue Jun 7, 2016
Mona Cohen answered:
Hello,

What price are you preapproved at ? How many bedrooms/ ba are you looking for ? Please send me an email at mona@monacohen.com I can help you find the right home..
0 votes 13 answers Share Flag
Mon Dec 22, 2014
Brad Davidson answered:
HI Jeremiah,

Check out me website at www.wehelpubuy.com. I have a program where I share my commission with my clients and you can use that money to pay your closing costs. My average client gets back about $7,000. I work with lenders who will contribute with credits of their own to save you more.

Give me a call for more information.

Thanks,

Brad Davidson
Broker - 01416432
714-961-8442
... more
0 votes 12 answers Share Flag
Wed Apr 17, 2013
Steven Ornellas answered:
Hi Keith,

All properties, whether distressed or not, are going into contract with little delay during this STRONG Seller's Market. So, you should keep ALL of your options OPEN.

Many Buyers start a property search only focusing on distressed property due to a belief they are cheaper and less difficult to buy than non-distressed property which is simply is not the case.

Basically, there are four types of "distressed/foreclosure" property. Here's a quick relative risk/difficulty scale for distressed property (1 being the most risky):

1) Trustee Sale-
You personally go to the County court house and bid on a home you probably have never seen the inside of, nor will have the opportunity to fully investigate. Seasoned investors need only apply. Cash/Cashiers check only, no financing. You may be interested in these two videos; “Foreclosure Auction Guide” http://www.youtube.com/watch?v=1CanJbhGdJM

2) Auction Company Sale-
A little better, at least you have a seat in a packed room where the auctioneer’s primary job is to get the highest offer from a much larger group than #1 above has. You are buying “AS-IS”. Do you have the ability to gauge cost of repairs you might see? This option is best for those who can walk a home and calculate refurbishment costs on the fly IF an investigative period has been allowed. If you are “gung ho” about an auction of this sort perhaps you should go through the steps to vet the property yourself and consider attending an event to see “how the sausage is made” and how comfortable you would be if you went this route.

3) REO-
When a property does not sell via #1 or #2 above you eventually see it come on market via a Realtor® MLS. You will still needs the skills to evaluate property condition and the good news is your Realtor® will be helping you to do so along with professional property inspectors you hire. The downside of an REO is the Bank typically only sells "AS IS" (meaning, the Bank will not typically make repairs even if you identify an issue) and the Seller's property disclosures are limited to what is statutorily required by law.

Before moving on to 4, 1 thru 3 above have a higher probability for issues with Title, referred to as "Title Defect" or "Cloud on Title", which means you would not have clean/clear ownership - not a comforting thought.

Some examples of situations affecting Title are:
-Outstanding mortgages/liens
-Restrictive covenants
-Outstanding future interests of others in the property
-Encumbrances
-Easements on the property
-Variations in the names of grantors and grantees
-Variations in the chain of title
-Outstanding dower interests.
-Adverse possession claims
-Structural encroachments
-Existing violations of equitable servitudes or covenants
-Zoning restriction violations

Here’s another video from the auction trenches: "Wells Fargo auctions off house they don't own" http://www.youtube.com/watch?v=yV6NeHoq1wA and here’s an interesting situation I have run into:

"REOs: How Buyers Can Avoid Hidden Unsecured Property Tax Liens" http://tinyurl.com/asvofat

4) Short Sale-
While there is nothing chronologically short about this option (plan on 60-90+ days before a Lender approval) it nonetheless is the closest relative to the non-distressed sale (where the Seller is selling “AS IS”/no Seller credits or repairs). The only real risk with these transactions is the underwhelming boredom and the overwhelming mystery of why it takes so long to obtain Lender Approval(s)!

Conclusion:
If you enjoy the “thrill of the deal” proceed with options 1 thru 2. If you like to know what you are getting for your money stick with 3 or 4 and non-distressed property.
... more
0 votes 5 answers Share Flag
Sat May 18, 2013
Ron Thomas answered:
The combination of the Housing Crisis and the Patriot Act have made the process of Buying and getting a loan, more intense.

The Banks are working for the Government in that they want to identify Money Launderers.
The Banks are working for themselves in that they don't want to repeat their past mistakes.

Don't look at it as baring your soul: look at it as you-have-no-choice!
... more
0 votes 10 answers Share Flag
Tue Apr 30, 2013
Gail Gladstone answered:
Hong Yao,

This probably depends a lot on the area. If you are dealing with NYC, don't hold your breath.

Actually, you might call the title company that closed you and nudge them a bit; they are probably in the best position for good information and expectations. ... more
0 votes 6 answers Share Flag
Sat Feb 21, 2015
stephen webber answered:
Good Morning
I think in todays market its critical to learn your market. Know which are the best buys in the price range and area you are searching. I have taught a process that will assure you know your market to over 25,000 home buyers in the Seattle area. You will find it outlined at Your-Road-Home.com.
Properties are moving so fast many people are over paying in the heat of competition. Gather up as much information as you can before you buy and be sure to have an inspection. And if you are a first time home buyer the MCC Tax Credit is amazing.
Trulia is also a good source of information and when you are ready you will find Seattle agents and loan officers offering their services on Trulia
Best of Luck, stephen webber
... more
0 votes 9 answers Share Flag
Sat Apr 20, 2013
Scott Godzyk answered:
It is not difficult but does require you to learn and understand how the auction works. Find out of the bidder is responsible for any back taxes, HOA fees or liens? Find out if the home is occupied and if the high bidder will have to evict the occupant. You then need to assess what the home is worth and deduct for liens, evictions and the risk of not seeing what damage could exist in the interior ... more
0 votes 12 answers Share Flag
Wed Apr 24, 2013
Ernie Behrle answered:
Yes is the answer but what would help is having a more defined range of where you wish to be. I am currently about to help a client purchase acreage up in Granville county for her 3 horses and that she can build on. I have also shown horse properties out to the west of the Triangle as well as there are many out to the East. I would love to do a search for you or you can do your own search by using the property search tool on my website at www.RaleighHomeSite.com . This is an IDX link to our local MLS.

Please feel free to contact me personally if I can be of any assistance.

Ernie
Northside Realty
... more
0 votes 6 answers Share Flag
Thu Apr 18, 2013
Dean Gupta CRS answered:
Yes there few things can be in your favor. First live in the building yourself--so it is owner occupied. 2) then if you can show the Rental leases from 2 or three unit, then 60-70% of that income can be used towards your income and your qualifying could go up. But main thing here could be your credit scores. You may also qualify for city programs, down payment help too. There are 100's of programs are there and some fine prints are there. These rules and conditions keep changing virtually every month. So you have to work with a lender that you can trust. I can recommend you but you will have to call me. I probably can not give contact info in these write ups. Good luck. ... more
0 votes 24 answers Share Flag
Mon Apr 15, 2013
Jennifer Chiongbian- 917-250-2284 answered:
That will depend on the level of service in the building and other factor suchs as view, floor level and square footage.

I am a working real estate broker and Manhattan appraiser so when values are affixed to units, these are the things that are considered when making a loan. ... more
0 votes 3 answers Share Flag
Mon Apr 15, 2013
Roswell Moore, answered:
What property or are are you referring to with your question? Real estate taxes here in AZ are typically pretty low when compared elsewhere.
0 votes 3 answers Share Flag
Sun Jul 14, 2013
Ron Thomas answered:
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

There is no FORM printed by anyone; there are just too many variables.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!

Good luck and May God bless
... more
0 votes 6 answers Share Flag
Sun Apr 14, 2013
Don Tepper answered:
Sounds as if your problem is with your ex, not with the refinancing process. You say she refuses "to provide the pay off amount on the mortgage." Well, if she's refusing to do that--the first step--sounds as if she's certainly not going to cooperate in the further steps necessary. So--and I'm not a lawyer, so this isn't legal advice--sounds as if she's in violation of the divorce decree. If she's refusing to provide the payoff amount and she's the only one on the mortgage, there may not be much you can do short of getting the court to order her to provide the amount.

On the other hand, it's understandable that she isn't going to voluntarily remove her name from the title. If she did so, you'd own the property and she'd still be on the mortgage. Yes, I understand that your intent (per the stipulation) is to refinance in your name, so that both the title and the mortgage are in your name. But it's not in her interest to remove herself from the title while she's still on the mortgage.

What makes you think that if you came up with $150,000, that she'd allow the mortgage to be paid off? In fact, since you can't get the payoff amount, what makes you think that the figure is $150,000?

If she's willing to sell, I could see an investor buying it from her, then reselling to you. That's an expensive way to do it, both due to the two closings and because the investor is going to want to make a profit from the transaction. But that's certainly doable. There's money out there--called transactional funding--that allows an investor to borrow money for a purchase and then (either the same day or within a couple of days) sell it to someone else. The money itself will cost the investor several percentage points--let's say $3,000. Then the investor will want to make a profit--let's say $7,000. So that's $10,000 plus whatever fees are charged in California for each closing.

The catch there is that she's going to have to agree to sell to the investor. And I keep coming back to her failing to provide the payoff amount. Is she doing that just to cause trouble? Or does she not understand the process? If it's not understanding the process, then the investor might have a chance. If she's just trying to cause trouble, then you may have to have the court compel her to act.

And one totally unrelated issue: Reverse mortgages are seldom a good idea. They have huge up-front costs and all sorts of catches. If you've investigated the subject and really feel comfortable with it, fine. But if you're just trusting someone who's told you it's a good idea, you really need to investigate that further. Check with your accountant or tax planner for more details.

Hope that helps.
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0 votes 2 answers Share Flag
Sun Nov 13, 2016
Liza Asbury answered:
Hi Kurt,
Call Glen Nielsen, 602.369.1520. He's excellent and would be happy to assist you!

Liza Asbury
Realtor | Realty ONE Group
www.arizonahousehunting.com
0 votes 27 answers Share Flag
Tue May 7, 2013
Catherine Purcell answered:
Hello Scott,

I spent 40 years in Maryland and am now in MA. I would be happy to speak to you regarding condominiums in the Fort Meade area. Make sure you check the condition of tge financials with tge HOA or condo associations. Many are either bankrupt or close to. Even if you pay cash or go with Conventional financing, this can greatly affect your resale ability as the new purchasers will not be able to use government financing in situations where the condo fees are delinquent more than 15%. It i much different than in MA where the condo associations are stronger financially.
Watch out also for polybutelyene piping. This was used in many condo developments.

Areas around Ft. Meade are good for rental properties. I like Odenton, personally because it has easy access to DC and Ft. Meade.

Good luck!

Catherine Purcell
202 573-6035
617 456-1700 ext 116
catherinep@fairwaymc.com

Catherine Purcell

Catherine
... more
0 votes 5 answers Share Flag
Mon Apr 29, 2013
Tim Moore answered:
Go meet him and ask him to show you the property. If they can't or won't - RUN AWAY.
0 votes 8 answers Share Flag
Sun Apr 14, 2013
Bruce Ailion answered:
Without commenting on the classification of income a potential solution would be an intermediate adjustable rate loan, 5,7 10 years to lower your payment and debt ratios. Most people do not understand that when you take out a 30 year loan you are buying a rate commitment for 30 years and if it is unlikely for you to consume that rate for 30 years you are paying for something you will not use. Say you were buying frozen chickens. Would you buy a 30 year supply if they would become stale or unsafe after 10 years just to know the price was fixed. Consider other stable index intermediate term adjustable loans as an option and discuss these with your lender.


Bruce Ailion,
RE/MAX Greater Atlanta
An Atlanta Real Estate Expert Serving Clients Since 1979
CRS, CRB, ABR, MSRE, CDPE, e-PRO, ESQ
Certified Residential Specialist
Certified Real Estate Broker
Accredited Buyers Agent
MS Real Estate and Urban Affairs
Certified Distressed Property Expert
Certified Investment Agent Specialist
203K Certified Specialist
Attorney
2050 Roswell Road
Marietta GA 30062
404-978-2281 Direct
404-386-3682 Assistant Robin
678-760-6266 Buyer’s Agent Adam
770-973-9700 Office
bruce@locationlocationlocation.com
www.LocationLocationLocation.com
http://www.linkedin.com/in/bruceailion
... more
0 votes 4 answers Share Flag
Sun Apr 14, 2013
Michael Kaprielian answered:
Hello RCA888,

Improving the curb appeal will help yield better on your returns than a new roof. Do those thing to your home that help the buyers picture themselves in the property. Items like Landscape front and rear, fresh interior and/or exterior paint and upgrades to the kitchen and baths all increase both the value of the home and the interest from buyers. A good Realtor should not only be able to guide you on these matters but have the contacts to get the job done.

Picking a Realtor isn't hard at all, you just found one.

Hope to hear from you soon,
Michael

MKaprielian.com
... more
0 votes 9 answers Share Flag
Sat Feb 28, 2015
Linda Lorenzo answered:
Depends on your area. There are some programs like a VA loan or a USDA loan that do not require down payments. You need to check with a local lender as they can guide you in what you need to do. Good luck. ... more
0 votes 12 answers Share Flag
Wed May 3, 2017
Linda Lorenzo answered:
You need to either contact a real estate attorney or a local title company (this would be the cheaper alternative) for guidance. Title companies are a wealth of information and should be able to assist you. ... more
0 votes 10 answers Share Flag
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