If you didn't sign anything with 1st agent, you owe her nothing. I can see why seller's agent and buyer's agent #1 want you to go with #1 - their cut might be higher. However, issue with commissions is not your to deal with. It will be decided between seller's and buyer's brokers.
If you feel that seller's agent doesn't perform, you can complain to your agent, your broker and seller's broker.
The rule is not get in love with your new house until it's yours. Otherwise it will impair your decisions.
There are in fact a few services out there that will allow you to post your home on the MLS without a real estate professional. The downside is that those services tend to be very pricey. Before making the jump you should consider if you are ready to handle the sale yourself. Things to consider; are you well educated on the sale process, will you be able to qualify your buyers, what safety steps will you take before allowing a stranger into your home, how much will you have to pay the attorney since youâ€™re not using an agent, and so on. Selling a home isn't as easy as a sign in the ground and some pictures on the internet. At any rate I wish you the best of luck, and if you change your mind I'd be happy to help.
Weichert Realtors - Washington Township
Cell: 856-404-5180... more
From my perspective, the same amount of effort goes into the home search, it's just that the buyers are more actively engagued by today's standards.
The most significant difference it that because of today's technology, buyers are able to completely explore inventory and therefore have a better appreciation for the market and what it offers. Today's process is certainly one that lends itself more easily to the "perfect match." .....the ideal home for the right buyers..
What are your goals? Some people love the thrill of the hunt for a bargain. Do you want THIS home...or just any home like it? Are there others like it in the same price point?
Pro for buying now - you may eliminate some of that competition because not everyone wants to go thru a short sale. Lots of people like to wait to see if it will go to foreclosure - and unless you want to pay off all the loans (and the home is already underwater-worth less than the loans), that means the lender gets it. Then you need to wait for them to go thru their process. And guess what? Bank-owned homes often are listed below market price, get multiple bids and someone with all cash often has an advantage.
So it's all about knowing yourself, knowing the inventory, and knowing what risks you are willing to take.... more
Hi David! You'll need to follow a couple of steps, but finding out is free!
First visit the Clark County Assessor's website, http://www.clarkcountynv.gov/depts/assessor/Pages/default.aspx, and use the property search with the address of the rental. This will tell you who owns it and give you something called an APN number. It will look something like 123-45-567-890.
Copy that, and go to the Clark County Recorder's website, http://www.clarkcountynv.gov/depts/recorder/pages/default.aspx. Search the records using that property number. The most recent activity is at the bottom. If you see something like "notice of default" or "election to sell," that's a bad sign.
Hope this tells you what you need to know!... more
I admire your aggressive stand at agency commissions. However be careful what you are asking for. If an agent cannot defend and negotiate their own fees, how well are they going to negotiate for you?
Many many things can go wrong even after an agreement of sale has been accepted. (I just published an article on my blog that you may want to check out http://downingtownrealestate.blogspot.com/2011/06/top-10-deal-breakers-and-how-to-avoid.html) Just make sure you have an agent who is knowledgeable and ethical.
If you are looking to sell the best time is now because people move more and relocate in the summer because of schools so you want to get that chance and start now. Also prices has not hit bottom yet so you do not want to wait any longer. Call me if you want to list of if you have any other questions. Good luck.... more
FHA purchases are for owner occupied homes as you probably are aware, and as such they require you to have qualifying employment and/or an income source that could be sustained while living in the home you are purchasing.
Transferring with your current employer is the ideal situation when making a long distance move and aiming to qualify to buy a home in the new location simultaneously... however not everyone's situation is deal. When you are instead going to be starting employment with a new employer FHA financing requires typically either requires a paystub showing that you've been paid for a total of at least 30 days OR a non-revocable contract for employment with a start date no later than 60 days from the closing date on the home.
You must also have sufficient income or cash reserves to support the mortgage payment and any other obligations between loan closing and the start of employment, so if you have $3k in the bank after closing, and your new mortgage payment is $1.5k, and your other payments are $500/mo (car payment, credit cards, student loans, etc.), because your 1st mortgage payment usually doesn't happen until the rest of the month you close in + the entire following month have elapsed (so closing on June 8th usually has a first payment due date of August 1st ) you'd really only have 1 month of mortgage payment + 2 months of the other payments to cover, or $2.5k, and your $3k would cover those until the employment begins.
Then later after closing, and after you begin employment, you need to provide a paystub or the lender contacts your employer to confirm you have begun.
You can find FHA's exact verbiage on it at: http://www.fhaoutreach.gov/FHAHandbook/prod/infomap.asp?address=4155-1.4.E.5.d
It's never too early to go over your situation in full detail with a loan officer, and it doesn't mean your credit needs to be checked either. But unless you absolutely know that your income, plans, etc. are all going to work down the road, I suggest you start planning as soon as you are ready. Keep in mind that some pertinent details won't be known such as employment and exact income, but you can get a plan of attack with the missing variables that can be filled in along the way, so you can "hone" your situation until you have pretty much everything figured out.
CalHFA is a popular 3% down down payment assistance program available throughout most of California: http://www.calhfa.ca.gov/homebuyer/programs/index.htm - it has some limitations, the processing time is on the longer side and sometimes their funding runs out, but if it's available it's an excellent way to get into a home with little money out of pocket.
San Bernardino County has some, but may not help out your precise situation: http://www.sbcountyadvantage.com/Housing-Assistance.aspx... more
You can go to the county property appraiser website and check the online property records, as for are they in foreclosure, you would have to go to the online court records, enter the name of the person you are renting from and see if Les Pends or other Foreclosure documents come up! I hope that they are not, I have seen some great families lose their rental homes here in Florida, many never even got much notice before the Sheriff tacked the vacate notice on the door!. If you do find that a bank is foreclosing on the owner, you need to go to a Real Estate Attorney, the few hundred dollars is worth it, they will have answers as well as remedies and procedures that will keep you in the home for a while longer, some may even be able to show you a way to negotiate with the bank to buy the home.... more
The difference is in the service and what they do for your money. The so called smart realty collects a fee just for putting the home on the MLS. The rest is up to you. You take calls, schedule your own showings and your own advertising, etc. The full service REALTORÂ® does all that for you from the listing to closing they partner with you to make sure your best interest is protected. Hope that helps. Call and interview both if you really want to know and ask what they do for your money?... more
There's no way that you, as buyers, can expedite the process.
You make an offer on a short sale. The seller accepts or rejects it. (There isn't too much incentive for the seller to reject it, since--regardless of the price--the seller ends up with nothing. The only incentive is in accepting an offer that the bank is likely to accept.)
Once that's done, you enter a black hole. The listing agent provides information to the lender(s)--the hardship letter, the seller's tax returns, W2 statements, and so on. And the listing agent stays in regular contact with the lender. You, as the buyer, are totally out of the picture.
The process may go quickly--a month or two. It may take a year or more.
Again, you have no control over that.
Your Realtor will be able to provide more details.
As a side note, I really wouldn't recommend that a first-time homebuyer pursue short sales. They can take a long time and involve a lot of anxiety, difficulty, and pain. It's important you understand the downsides before proceeding. Again, though, discuss it with your Realtor.
The figures we are given are that 70%+ of the Buyers are using the Internet. I have seen that the three best spots are Trulia.com, Realtor.com, and Zillo.com. That said, I have found that most people go out looking in the neighborhood they want to live in, and look for the signs for Open Houses. Spontaneous. So, I use 10-20 signs directing people with good ARROWS to the property. When I ask them what brought them in, they say, THE SIGNS! Go for it!... more
Of course there are many questions about buying a Property here. Things that would be helpful are a price point, # of bedrooms & bathrooms, either a Home, Condo or Townhouse, close to or on the Beach, close to golf courses, time frame for moving, etc.
I would be most happy to search for you if you would let me know the answers to the above. I can go into our local MLS System and be sending you the Current Active Listings that match your Search Criteria so you could be looking at available listings. We are still very much in a Buyers Market in The Myrtle Beach Area.
At Your Service,
A Proud Veteran At The Beach,
Keller Williams Realty
Lots are inexpensive (real bargains) in Bella Vista because there are so many of them available. Out of approximately 36,000 Lots, only 13,000 have homes on them. But, look at the growth rate of Bella Vista in the past. Once the banks start loaning money again, look out. No longer a "retirement village", the City of Bella Vista (incorporated only 4 years ago) now has a population of more than 26,000. With its hills, lakes, golf courses and proximity to 4 other cities, Bella Vista and Northwest Arkansas have quite a lot to offer for young families and retirees alike.... more