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Home Buying in 14607 : Real Estate Advice

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  • Home Buying2
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Activity 101
Fri Jul 25, 2014
Joan Braunschweiger answered:
Buyer's agents typically don't ask for a percentage. The commission agreement is usually written in the contract between seller and listing agent and that includes the split made with the buyer's agent.
Normally, the commission is paid out of the proceeds at closing.
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Wed Oct 27, 2010
David Parsons answered:
It really depends on the bank. We have had an instance when a buyer of ours had a contract on a property that went from being a short sale to a foreclosure. We were lucky in that the Bank processed the foreclosure quickly and brought it back on the market so that our buyer was able to still purchase it. This is not always the case. The best thing would be if you can find out from the bank or asset management company if there is a specific agent they will be listing the property with and try to be one of the first notified when it comes back on the market.

Unfortunately it sounds like considerable time is going to be added to this transaction if you try to stick with this property as there are specific procedures that the bank needs to take for foreclosures, depending on where in the process they already are.
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Tue Dec 28, 2010
Ellieen Elliott answered:
A good down payment, a credit check and a time line in getting a bank loan.
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Wed Dec 29, 2010
Anna M Brocco answered:
Since no local answers yet--you can check the local public records department, or contact any local agent(s) for the information.
0 votes 4 answers Share Flag
Sat Jun 26, 2010
Bob Kirby answered:
There are a few homes on Pearson lane. Could you tell me which one. My office and my home is very near here. The taxes posted on the homes are total true tax. If you are going to occupy the home (not Rental). There is a basic star examption of about $700.00 off the taxes posted. The homes assessed values seem to be in line. ... more
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Sun Apr 11, 2010
Maureen Francis & Dmitry Koublitsky answered:
Every year the home is reassessed, with a notice of the assessed value usually coming out in February. The assessed value is multiplied by the local mileage rate to calculate the taxes owed.

There is a link below to the State of Michigan's tax calculator.
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Mon Aug 23, 2010
Nancy Gastel answered:
It depends upon your budget. Park Avenue, parts of Brighton and Pittsford NY are good. I am a Broker - Nancy 5853295490 or 7705781067
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Fri Apr 9, 2010
Bob Hibbard answered:
Depending variables such as credit score, employment, cash flow/s, debt ratios and appraisal values of the properties you own, you may be able to to get a lender to lend you the funds. Either through a mortgage, home equity loan/s, or a line of credit, etc.. Remember most lenders will only let you borrow up to 80 or 90% of your equity, sometimes less for investment property. It sounds like you may have a good history of managing rentals. If you have a good relationship with your lender start there. ... more
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Wed Apr 28, 2010
Bob Kirby answered:
Check out Wells Fargo or Bank of America in the area. Both should have a referance for you. Wells Fargo has a streamline 203k or mini 203k. You should check it out. The buyer can do the work themselves, a great program. ... more
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Sun Oct 24, 2010
Mike Webster answered:
The strongest way to leverage your cash is definitely to buy 2 or 3 multi families with mortgages on each. If you get 15 year mortgages, you can pay it off quickly and you will get a lower rate. I would suggest looking at 3 units and up, because those tend to be the minimum to break even if you're not living there. Best of luck! ... more
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Thu May 30, 2013
Anna M Brocco answered:
Protect yourself --regarding any legal issues your best source of advice is an attorney.
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Wed Feb 10, 2010
Anna M Brocco answered:
In a pre-foreclosure/short sale the owner tries to sell the property before the bank takes it away --in this case, ultimately the bank decides on which bid to accept, reject or counter offer--in a foreclosure, the owner stops paying money owed to the bank and the bank seizes the property and takes over ownership. ... more
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Wed Mar 24, 2010
Housexpert answered:
I am an investor/property manager and also prefer single family homes to rent out for some other reasons as well- there is less turn--over. People are less likely to move b/c they are not living so close to another family. (High turn-over would mean less rent coming in and more repairs.) Singles are easier to rent out, or to sell b/c investors as well as home buyers would be interested. Another reason is that it is easier to have the tenants be responsible for the outside upkeep including grass, leaves, trash and snow removal in a single house. (less work for me) I only buy singles that have off street parking so I can offer that to my tenants.
As far as area, city houses have a much higher ROI (return on investment) than suburban houses for various reasons . Initial cost is lower and so are taxes. Demand for good rentals is also higher in the city-some landlords only rent to students like at Uof R or RIT and they have a never ending crop of them. It is best to choose one area and buy several in that same area so you can service them more easily-that is what I have done.
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Sat Feb 6, 2010
James Gordon ABR SFR SRS answered:
Chyrisse you may want to check with your Realtor®. Do you know which of the six programs currently offered the buyer is using?
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Fri Apr 23, 2010
Kristen Wahl answered:
Hi Jeff,

You're right, the inventory near the U of R is very low right now. It's a very popular area, so homes tend to sell quickly. My office lists a large percentage of homes in that area. If you're interested, you can e-mail me more about what you're looking for (price, number of bedrooms and baths, square footage), and I'd be happy to let you know in advance if I hear of any upcoming listings!

You can contact me at KWahl@RealtyUSA.com, or call me on my cell phone at (585) 455-5524. Good luck with your home search!

Sincerely,

Kristen Wahl
RealtyUSA
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Sat Feb 6, 2010
Mike Conner answered:
Sara, first of all good luck with your investment plans! I hope you get some great answers here that will help you make a good decision. If you need help finding a local Realtor with experience and knowledge about the Rochester, NY area I am happy to help. I have a pretty good nationwide network that I would be happy to share with you. Drop me a note at my site below if you need any help. ... more
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Tue Jan 19, 2010
Sean Dawes answered:
I am not licensed in NY but let me just ask this/mention this.

Is the home listed with a realtor now? Wouldnt they have asked the seller what they owe, show them a estimated closing cost sheet and the seller go "hmm i dont have enough to settle the mortgage?"

Last minute things like this bother me. It should not happen. Extending settlement due to time to get some repairs I can see but this is something that should have been addressed from the beginning when the offer was made.


Sean
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Fri Jun 28, 2013
x answered:
The school taxes are the culprits, along with the assessments. The smaller the school district the lower amount each property owner will contribute. The assessments on each home, in each town will be a large factor. Be educated about how the towns reassess. Some will reassess only per the NYS law, others will reassess upon transfer and title.. I think that Gananda is a wonderful place to live.. minutes to 4 corners of Penfield, Penfield schools, and the homes have a nice price range, and are beautifully maintained. This is in Wayner County..
BUT.. there are many many nice towns/neighborhoods... check the assessments!
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Thu Jan 14, 2010
Linda Akers answered:
The town of Henrietta in Monroe County is one to look at. Visit AkersSellsHomes.com to view properties and learn more about the areas. Feel free to give me a call to discuss the tax credit that is available and answer any other questions you may have. Linda Akers 585-576-5555 ... more
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Mon Jan 11, 2010
James Adams answered:
I do not see any home listed for this price. There must be an error on the listing.
Do you know the number on the street?
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