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01850 : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying8
  • Home Selling2
  • Market Conditions0

Activity 64
Thu Feb 16, 2012
Joshua Gillis answered:
Hi,

Yes woodland park does allow pets and as far as being able to finish the basement. Usually you own from the studs in so I would say yes to the second question as long as no part of the structure or load bearing wall is being altered or compromised. The City of Lowell may take issue with this depending on why you are finishing the downstairs if and when you go to pull permits. In some cases bedrooms are against code and depending on egress issues you could be limited as to what you can do to a basement. I would advise you call the City of Lowell building department for this answer. If you are inquiring about 92 Swan Street # 207 MLS # 71243689 offered for $135.00 it has an accepted offer. It looks like it was first accepted January 26th 2012 the condo expired then it reactivated and then as of Feb 12th, it had an accepted offer again with no back on market or (BOM) so it looks like it had an accepted offer since January of this year. It is a Short Sale and depending on the lender it could be as little as 45 days to get a response up to and beyond 6 months if it is not an approved short sale. Again it depends on the Lender, deal being offered, the status of the home, the experience of the Realtor and or Attorney representing the seller. The seller also has to be organized and send in necessary docs in a timely manner. Lastly no short sale is a guarantee even when they agree to a price. Beyond this the sellers disclosure shows that the basement has had "seepage" in the past four years, so this could also be a concern when finishing a basement. Another issue that could arise is that you mentioned a bathroom. Depending on the height of the sewer line going to the street, you may need a sewer pump which is an added cost. Hopefully this was informative. If you should have any other questions feel free to contact me.

Sincerely

Joshua Gillis
Realtor/Broker
(978) 771-4194
web- www.gillisandcompany.com
email- josh@gillisandcompany.com
A Team of ERA Key
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Thu Aug 25, 2011
Scott Godzyk answered:
They have to go through the proper eviction process for the state of MA. You can google landlord tenant law MA for details in your area.
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Tue Jun 14, 2011
Suzanne MacDowell answered:
You can, as far as I know, but it may not be a good idea. The landlord/tenant relationship is a business relationship and renting to a friend could blur that line and lead to difficulties should you have any problems with the tenant. You could lose a friend, and there is no amount of money that can compensate one for the loss of a friend.

My advice is to mke sure you qualify the tenant as you would anyone else, get a background check including criminal history, eviction history and a credit report. Make sure they have enough income, combined with their Section 8 voucher, to afford the rental unit. And, if you do rent to them, inspect the rental unit regularly and insist that all the rules be followed strictly.

Good Luck!
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Sat Mar 30, 2013
Jeff McDonald answered:
You should be able to get your earnest money deposit back if you have not removed your inspection contingency. You can ask for a $2000 price reduction or a repair credit, but they can always say no...

Just because they dropped the price does not mean they have to accept the lower price - they could just be trying to get more offers and start a bidding war to drive up the price! Also, you don't state if this is a standard sale, short sale or REO - what they are doing with the listing price would mean something different in each case.

I'm a little confused though - your buyer's agent asked you to terminate the contract? Or is this a dual agent who also represents the seller? Keep in mind it costs you nothing to have a buyer's agent working for you... Your agent could have brought up the price reduction and the unchanged listing status for you with the listing agent when it happened and negotiated for you!
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Sat Mar 19, 2011
Anna M Brocco answered:
See links for helpful information...
http://www.lowellma.gov/search?SearchableText=flood
http://gis1.msc.fema.gov/Website/newstore/Viewer.htm
www.msc.fema.gov
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Mon Dec 24, 2012
Andre LaFond answered:
Hi, my name is Andre LaFond and I am a local Realtor with Dick Lepine Real Estate Inc. If you are looking at 240 Jackson St condos in downtown Lowell then the fees are $241 monthly. If you have any other questions or if you would like to work with a Realtor on your purchase, feel free to contact me at any time. I am also text and email friendly.

Andre LaFond
978-349-1113 (mobile)
lafond.inc@gmail.com
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Mon Dec 24, 2012
Elizabeth Herbert answered:
A Property Manager is usually responsible for handling a property's financial operations, making sure the rents are collected on time and making sure mortgages, property taxes and maintenance bills are paid in a timely manner. There could be other responsibilities that a PM will do, it should be negotiated with whomever you hire in addition to salary. ... more
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Tue Nov 13, 2012
The Roskelly Team answered:
Hi Dennis,

Do your homework to find a good and reputable Realtor that specializes in your neighborhood and has a proven history of successful home sales. Make sure they are Internet savvy and understand the importance of presentation/staging, good photographs and widespread Internet advertising. The sit back, relax and look forward to a speedy sale! ... more
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Tue Jan 17, 2012
Dave Nuccio answered:
I'd be happy to explore this issue with you. Give me a call or send an email and we can chat. Davenuccio@gmail.com. Birchwood Eight Realty / Broker
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Mon Oct 4, 2010
George Lewman answered:
Cath, Check with a mortgage broker / banker in MA for programs that will help you. I don't know what you mean with a pretty low score. Typically, FHA will loan in the 580-620 range, VA (if you are a veteran), allows a pretty high debt to income ratio (DTI). Many cities, counties and states have down payment assistance programs.

HUD has a teacher next door program where they allow certain of their repossessed homes to be sold to qualified teachers for as little as $100/down. Contact a Realtor who works with HUD Homes in your area to find out what HUD homes match this criteria. You can check out the HUD homes Tab on my website for the homes in the six state region out west. If you want, I can help you find the link to the MA area HUD contractor. I can also find a Realtor in Lowell if you need that assistance.


Good Luck,

George
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Mon Dec 24, 2012
Bernard Bergeron answered:
Mon Mar 14, 2011
Christine Moran Realtor & Notary answered:
Send me an email of what areas you are looking in and I can send you all of the current listings for properties that have been on for a while. Christine.moran@realliving.com
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Thu Dec 9, 2010
Christopher Lefebvre answered:
Hi Brian,

The summer months have arrived and people are starting to go away on vacations. It is normal for things to slow down during the summer and it usually picks up again in the Fall. How are you marketing and advertising your home? If you are interested, contact me through my profile and I would be glad to send you some information on our 12 step marketing plan.

I wish you the best of luck with your sale.
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Sun Jun 13, 2010
Patrick Thies answered:
You may have to talk to an real estate attorney to see exactly what your options are. Usually a lease transfers with the property. The new owner should take the property subject to the current lease and needs to honor the terms of that lease. The tenant needs to honor their end of the lease as well.

If both parties agree to end the lease terms, then that is ok as well.
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Fri Apr 2, 2010
Don Tepper answered:
Tue Sep 13, 2016
Deb Nicholls answered:
In Massachusetts the inspection contingency is to ensure that there are no hidden defects in the property you have agreed to buy, and to allow you to back out of the deal if any are found. You can always try to re-negotiate (your agent would do this if you are using a buyer agent) but the seller is not obligated to fix anything. If you decide not to go forward with the deal, then the sellers can move on to the next buyer.

Deb
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Tue Nov 21, 2017
Gerard Dunn answered:
No - The tenant's rights survive the settlement and sale of the property.
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Wed Dec 30, 2009
Ken Lambert answered:
Hello Dpg: Good question. So, you paid $340K and added about $17K since to it. That's $357K total, 3 1/2 years ago. I'd say you're right in the ballpark at it being worth in reality about $300K in today's market. That would be down about 15-16% since the high. That's about right for most of our area.
If its a basement, how are you adding 500 SF of Living Area above grade? Basements are defined by being below grade. The only way around this is if it is a walk-out basement; then you may be able to call "some" of your finished area there "above grade" to include it within a new GLA.
I assume the Condo Board approved you doing this internal work? Whne you go to sell it, the new buyer or their bank will want to know that the improvement was done in compliance with the condo bylaws and also the town's codes. I'm sure you know that...
Please contact me if I can be of any help. Good luck,

Ken L.
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Mon Mar 21, 2011
Ken Lambert answered:
Hi Anne- Lowell really runs the gamut. For starters, there are 5 zip codes in the the city- and you can check data and crime info via zip on Trulia and on www.city-data.com, etc.
Read the Lowell Sun to get an idea of what is going on in different areas there.

I assume you don't live anywhere near Lowell?
I'm a mortgage loan officer, and also do some RE investing myself. If you'd like to talk sometime, please let me know. You can call or email me directly... Thanks and good luck,

Ken L.
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Sun Feb 10, 2013
Ken Lambert answered:
Hi Julia- How many spaces ideally? What are you looking to pay? I may have some contacts around there. For just winter, or for a full year?

Thanks,

Ken L.
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