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Home Buying in 14608 : Real Estate Advice

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Activity 101
Wed May 23, 2012
Anna M Brocco answered:
Is the property a short sale....Generally it means that the seller has accepted an offer, however the buyer may need to fulfill certain conditions; ask your agent the question and see how it relates to the specific propertuy. ... more
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Wed May 23, 2012
Gini Denninger answered:
This depends on what kind of loan you have. You should talk with your mortgage broker for the correct answer, since they know what stipulations there are with your mortgage. Good luck with your new home! ... more
0 votes 7 answers Share Flag
Wed May 23, 2012
Raymond E. Camp answered:
Good morning Tina,

Thank you for the question.

The condition of the property would have to be addressed and without seeing it one sold that need work for about $13,000 and another is on the market for $25,000.

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Tue Apr 10, 2012
Diane Wurzburg answered:
Please contact me, I know of a congregation thinking of selling their church or of renting spaces for services.

Thank you,
Diane Wurzburg, Real Estate Agent
Keller Williams Realty, Greater Rochester
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Wed May 23, 2012
My NC Homes Team answered:
Forget the appraisal for a moment. A bedroom is a room with a door, a closet, and egress (a window) That is the real estate definition of a bedroom.

When you bought the home did you see it before you bought it or did you buy it sight unseen? Since having bought it have you made any physical changes to any of the rooms removing a door, closet or window(s)?

There's really no way to confuse whether a property has two bedrrom or three and if you made no changes I'm at a loss to understand your question. As to whether you have a chance in court, I strongly doubt it, but that's what courts are for. Who would you intend to sue?

It sounds to me as if you never saw the property you bought and went solely on the word of others, if this is true then it was your first mistake and hopefully you will have learned a valuable lesson, don't buy property you haven't seen and inspected for yourself. If you renovated and modified the home and in so doing lost a bedroom, then again you've learned a lesson.

You may want to give a little more information so that others might be able to advise you more effectively.
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Mon Jul 25, 2011
Scott Smith answered:
Unless you can prove the previous owner had problems with the sewer line and failed to disclose it to you, you are probably on your own.
0 votes 5 answers Share Flag
Wed May 23, 2012
Raymond E. Camp answered:
If you would like assistance with your search feel free to contact me.
There are a number of properties that could be worth taking a look at.
Thank You,
Ray Camp
0 votes 6 answers Share Flag
Wed May 23, 2012
Anna M Brocco answered:
Since real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods, if unfamiliar with the area, do take the time and visit more than once, possibly chat with locals, look for anything of importance to, etc., then make your determination, will your comfort level be reached... ... more
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Thu Jun 23, 2011
Ron Thomas answered:
My suggestion would be to call the ex-broker, the Broker he had when he started working with you:
Tell the Broker that you want to still work with the Agent.
This should nip any problems in the bud.
Most Brokers are understand and do not want complication.

Good luck and may God bless
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Sat Nov 3, 2012
Michael Twentyfive answered:
We can assist you, we work with and manage several real estate portfolios for out of town investors. Contact me anytime.

585-754-8955 is my office number.
0 votes 5 answers Share Flag
Wed May 23, 2012
Anna M Brocco answered:
Consider working with an agent of your own; interview in person a few local agents from different realty companies then choose the one you like best--your agent will be your best guide.
0 votes 6 answers Share Flag
Tue Aug 7, 2012
Zisis Sakellariou answered:
Hi Logan,

Typically in this area it is very typically for both sides to have an attorney and it IS STRONGLY ADVISED to do so. There job is to review all the documents, offer you the title insurance, review your lenders paperwork, sellers attorney/ title paperwork, and advise you on your decisions throughout the process to make sure you are not taken advantage of. In my opinion its not worth saving the $400 or $500 if everyone else is represented by an attorney and you are unrepresented and not familiar with the process. These Q&A advise blogs are somewhat general and you certainly should have someone reviewing the specifics of your transaction that has YOUR best interests in mind.

The seller does have an attorney as do the buyers. In NY the contract has to be reviewed by both attorneys once agreed upon by the buyer and seller.

The "host" of the closing is typically the lenders attorney but not always.

If you need a referral, let me know.

Good Luck, and get representation! Protect Yourself!!

Zisis Sakellariou
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0 votes 6 answers Share Flag
Thu Apr 28, 2011
Brent Kluge answered:
Always best to disclose everything and as early as possible. Treat your LO like your friend. He wants to get your loan approved as well... perhaps he has some alternatives or options.

The deal here is, even though you made application for this mortgage while your girlfriend was fulltime, soon the VOE (verification of employment) will go out to her employer and it specifically will ask for hours, time, likelyhood of continued employment, etc... in addition, prior to closing, most companies do another QC check and in some cases, even the lender to whom the loan is sold, will do a QC check and perhaps their own VOE.

Moral of this story? Best to be honest and as early as possible.

There are other ways to try and get the loan to be approved. Call me directly if you don't like the direction things are going. I can tell you in just a few minutes if I can get you approved for the true and honest hours you both work. Much better. :)

Best of luck.
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Thu Feb 25, 2016
Lenee Magnuson answered:
It isn't technically unethical, but it can be very awkward and uncomfortable for the listing agent as he/she will probably not want to have conversations with you without the presence of your realtor. Your best best is to schedule a conference call with your realtor and the listing agent... this way you are hearing everything firsthand and can ask all your question directly. You could also meet with your realtor and a call the listing agent on speaker phone. I would go that route to avoid any conflict. ... more
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Wed Apr 27, 2011
Gregorio Denny answered:
NO, the APR will not change your payments, the payments are based on the note rate of 4.625%. The Annual Percentage Rate (APR) is the cost of your credit expressed as an annual rate. Because you may be paying loan discount ‘points’ and other ‘prepaid’ finance charges at closing, the APR disclosed is often higher than the interest rate on your loan. This APR can be compared to the APR on other loan programs to give you a consistent means of comparing rates and programs. At least that is what is "supposed" to happen, but since what a lender chooses to disclose in the APR calculation is somewhat "fuzzy" it tends to just confuse matters.

The APR in your case is a little high but not that terrible. The spread between the note rate (4.625%) and the APR (5.6%) on an FHA mortgage is much greater than on a conventional mortgage because of the mortgage insurance. I just ran the numbers based on todays rates using a 620 credit score, usual closing costs and assuming the broker /lender was making around $5000, I get an APR of 5.538%. I have heard NY has other fees that I may not be including so your APR may very well be right on target.

Hope that helps.
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Wed Apr 27, 2011
Anna M Brocco answered:
Contact any local agent/realty office, they all have access to the same information, or directly contact the listing agent.
0 votes 6 answers Share Flag
Sun Jul 24, 2011
Terri Vellios answered:
They can review and accept. But they only have one property to sell. So what they would probably do is accept with a condition. Perhaps it's a short sale and the condition is subject to bank approval.

Check with your agent since they know the details of your transaction.
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0 votes 14 answers Share Flag
Mon Feb 21, 2011
Christopher Carapezza answered:
From my understanding is if the mortgage gets approved on your house, you would want to buy the For Sale By Owner house correct? And if the deal on your house falls through, then you would not want to rush into the For Sale By Owner house and you would want to look around at other houses to make sure you find the right one? Assuming you and the seller can come to terms, then why would you not want to do a contingent offer? That way if your house does not sell with the current buyer then you are free to walk away from the For Sale By Owner, as long as you put that clause into your contract. ... more
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Tue Feb 8, 2011
Anna M Brocco answered:
Why not consider contacting a few different realty offices, and interviewing in person a couple of local agents, or as many as needed, and then choose the one you like best. You can also locate local agents under the find a pro tab. While shopping for short sales and foreclosures, keep in mind not to overlook some traditional sales, as some may turn out to be much better bargaings ... more
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Fri Sep 14, 2012
Bill Eckler answered:

Often the best source for this information is the local police department or county sheriff's department.

We recommend seeking information about the local "Drug Free School Zone" boundaries that do have a positive impact on police presence and school zone safety. This area normally extends well beyond the school boundaries and into area neighborhoods.

Good luck,

... more
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