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Home Selling in 19154 : Real Estate Advice

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  • Home Buying22
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Activity 187
Sun Feb 19, 2012
Ana Barlow answered:
Kristina:

The real estate market in the city of Philadelphia has shown signs of being vibrant and continuing to improve. The market here is not like in Florida or Michigan, we have a strong influx of buyers and a continual stream of sellers since our city is one with many educators and students as well as the more "consistently" Philadelphia based home buyers and sellers.

Holding on to a property can be an excellent long term tangible investment for many in this type of global economy. However, you must be prepared to cope with the management end of things.

Selling, based upon you prior bits of info impacting the sales in your particular community may pose financial questions for you to consider.

You should most likely sit down with a few different agents, review your options based upon your specific circumstances, and make an educated decision from that informed point.

In public forums such as this the answers are really too broad for your needs. Feel free to email me privately for any additional data.

Ana Barlow
Coldwell Banker Preferred
anabarlow@gmail.com
... more
0 votes 9 answers Share Flag
Wed Feb 29, 2012
Marie Souza Team answered:
Best advice I can give here: Make alist of all the improvements you have made & the cost to give to the appraiser.
0 votes 7 answers Share Flag
Mon Aug 26, 2013
Ann Ryan answered:
Tue Oct 13, 2015
Don Tepper answered:
What is your objective? I think you may be constructing scenarios or steps that won't lead you to where you want to go.

Can you sell your condo to your wife? Yes. If she can go out and qualify for financing on her own, she can buy it from you. If you simply want her to have full ownership and you're willing to stay on the mortgage, you can just deed your interest in it to her.

I'm not a lawyer, so this isn't legal advice. For that, you need a lawyer.

Can you buy another property on your own? Probably. State law varies somewhat on types of ownership. But, sure, there's some way that you could purchase a property on your own. You'd have to qualify on your own, though. And the uncertainty is whether--even though your wife would be sole owner of the condo and you'd aim to be sole owner of the other property--whether lenders would see the marriage as a connection between the two of you, requiring some sort of consideration of the other's income, assets, liabilities, etc.

However, there are strategies that could be used. For instance, a land trust might be used to purchase a new property without any immediate involvement from lenders or others.

Check with a lawyer.

But, again, depending on what your ultimate objective is, the strategy you've proposed probably isn't the best one.

Hope that helps.
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0 votes 7 answers Share Flag
Tue Jan 31, 2012
Timothy Garrity answered:
Hi, Eric.

Your best bet would be to select a local Philadelphia agent and work with him/her on your goals for this project. If you need any help determining values for Philadelphia investment opportunities, please let me know.

All of my contact information is listed below.

Thanks,
Tim

Timothy Garrity | Realtor & Consultant
Licensed Real Estate Salesperson - #RS314897
215-829-8850 Office
267-879-2716 Mobile
tim@usspaces.com
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0 votes 9 answers Share Flag
Sat May 13, 2017
Laura Feghali answered:
Hello Home Buyer,
"As Is" means that the owner is not willing to perform any repairs on the property. Not all home sales are As Is. Many short sale sellers state this on their listings as they probably don't have the funds to make the repairs. Hopefully, the asking price reflects the condition of the home.

Laura Feghali
Prudential Connecticut Realty
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0 votes 20 answers Share Flag
Mon Dec 19, 2011
Shanna Rogers answered:
Hi Georgette,

Contact a local Realtor and hire them to assist you.

Shanna Rogers
SR Realty
www.RealtyBySR.com
0 votes 12 answers Share Flag
Sun Dec 4, 2011
Anna M Brocco answered:
If you are ready to sell, and need to sell why not consider the idea; buyers do exist year round....
0 votes 14 answers Share Flag
Thu Nov 10, 2011
Margaret Schickling asked:
my client has great credit and is ready to buy-this is what she is looking for:at least two bedrooms, one bath, would like off street parking, near the R8 Fox Chase Train statio...
0 votes 0 Answers Share Flag
Thu Nov 10, 2011
Tim Moore answered:
We try to not advertise here on the Question & Answer section, it's for asking questions not promoting a sale. If we all did it there would be no room for questions.
0 votes 0 Answers Share Flag
Thu May 31, 2012
Matthew J Rubin answered:
Sorry to hear all this has happened . I am not from Philadelphia so I am not to sure of the rent there, but $100.00 a month does not sound like it is posible. Maybe you can get a roommate or maybe you can rent out a room or two from someone. HOPE ALL WORKS OUT FOR YOU ... more
0 votes 14 answers Share Flag
Tue Nov 15, 2011
Belinda Johnson answered:
You can decline the offer if you're not open to giving sellers assist. Although most FHA buyers need it and sometime ask for 6%. It still may be worth your while to accept the offer. Not many, ready, willing and able buyers. What did your agent suggest? ... more
0 votes 22 answers Share Flag
Sat Nov 5, 2011
Erica Ramus, MRE answered:
I don't understand the question. Are you a buyer or seller? Do you have an agent or an attorney to help you?
0 votes 7 answers Share Flag
Thu Oct 27, 2011
Tim Moore answered:
The bank that placed the lien will have to remove it. They can give you a document that needs to be recorded or they can record it to remove the lien, it's pretty easy.
0 votes 1 answer Share Flag
Thu Oct 5, 2017
Bruce Lang answered:
As a person in the business, a contract is a contract. However, the reality is that an unhappy seller is no good for an agent. I'd suggest talking to the agent and the broker as a first step. ... more
0 votes 16 answers Share Flag
Fri Aug 10, 2012
Sally Grenier answered:
As far as tax implications go, you should talk to an accountant, CPA or tax attorney. As far as selling it goes, talk to a few local REALTORS and get their opinion on what the property needs, plus a good CMA (comparative market analysis) to see what it should sell for. Your agent will be able to help you determine if the house needs to be fixed up first, or if it could be sold as-is (and priced accordingly).

Good luck!
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0 votes 3 answers Share Flag
Tue Oct 18, 2011
Jim Zanaras answered:
Mon Aug 21, 2017
Anna M Brocco answered:
Sorry to hear about your loss. At this point, it's really in your best interest to consult with an attorney who specializes in Trust and Estates...
0 votes 10 answers Share Flag
Thu Sep 1, 2011
Ron Thomas answered:
If the Seller (Owner) has substantial Equity in the Property, then they can carry that for the Buyer:

In the extreme; if the Seller owns the property, outright, then they can do anything they want, a Bank does not have to be involved at all.

If you have such a situation, you can sign a NOTE with the Seller, putting down anything they want, or nothing. You can set any Interest Rate, etc.

Please involve a Realtor to protect your interests.

Good luck and may God bless
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0 votes 7 answers Share Flag
Sun Aug 28, 2011
Timothy Garrity answered:
Hi, Geoffrey.

I would be glad to help you out.

If you need any assistance trying to sell or rent these homes, please let me know and I'll help.

Best,
Tim

Timothy Garrity | Realtor & Consultant
Licensed Real Estate Salesperson - #RS314897
215-829-8850 Office
267-879-2716 Mobile
tim@usspaces.com
www.phillyurbanliving.com
... more
0 votes 6 answers Share Flag
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