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20175 : Real Estate Advice

  • All20
  • Local Info1
  • Home Buying6
  • Home Selling2
  • Market Conditions0

Activity 43
Mon Jun 26, 2017
Nancy Pav answered:
This is a great question. There are closing costs that both the buyer and seller are responsible for. Generally speaking, the closing costs that a purchaser would incur are approximately 3% of the sales price. The sellers fees are related to grantors tax, settlement fees etc. What's negotiable are what you agree to pay the buyer in terms of their closing costs, and possibly one or two of the settlement fees.
Did the agent you spoke to provide a sellers net sheet? Since your home does not have an offer, this is a very rough estimate of the fees that you'll incur and what you may or may not receive in proceeds.

Please feel free to contact me. I'd be happy to show you not only what your home might sell for but provide you with an estimate of the fees you're required to pay.
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0 votes 17 answers Share Flag
Fri Oct 9, 2009
CCC answered:
Hi, you miss the address.
0 votes 3 answers Share Flag
Tue Feb 9, 2010
Glenda Cherry answered:
Yolanda, according to your previous post, you and your sibliings have no credit history - this could make it difficult to qualify for a loan. Your first step should be to talk with one or more lenders to find out what type of loan might work for you. If you don't have any lender contacts, please get in touch with me ... I'll be happy to provide you with a few names. ... more
0 votes 12 answers Share Flag
Mon Jul 27, 2009
Nancy Pav answered:
Hi Yolanda,
It is possible for you to buy a home although with your younger brother being 17, any contract could be voidable due to his age. If this is something you are seriously thinking about doing, I recommend you first speak with a lender to determine what, if any, financing is available to you. Doing that 1st will help you determine if a bank will be willing to lend you money, how much money you can borrow as well as how much money you'll need as a down payment. If you'd like the name of a good lender who can assist you, please feel free to contact me. I'd also be happy to explain the entire homebuying process to you~Nancy ... more
0 votes 2 answers Share Flag
Wed Jul 22, 2009
Glenda Cherry answered:
If you have the address, you can search the public notices in the local newspapers to find the details of the foreclosure. If you're not sure how to go about that, send me the address and I'll try to find it for you.

I have to ask, however, why you would want to know the name of the bank? You won't be able to negotiate with them directly to buy the property. If you're interested in purchasing the property, you'll have to wait until it's listed for sale.

I have no doubt other real estate professionals will also jump in here to give you more information regarding foreclosures - you should listen to them. We've been dealing with foreclosures for over a year now and it's been a learning experience from which you can benefit.
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0 votes 3 answers Share Flag
Sun May 24, 2009
Chris Mabry SRS,e-PRO answered:
Ms,
I think we're going to need some more details in order to answer this question. Usually, it's not so easy for a seller to just change their mind. Once they have accepted an offer, they are in a binding contract. It's much, much easier for the buyer to change their mind for a whole lot of reasons. Not so much the seller. More info please.... ... more
0 votes 3 answers Share Flag
Mon Mar 3, 2014
Cindy Jones answered:
At this point the only information that is confirmed is the $8000 Tax Incentive provided for first time homebuyers by the federal government. There are restrictions on the credit based on income, it must be your principal residence and you can not have owned a home in the last three years. ... more
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Wed Aug 18, 2010
Vicky Chrisner answered:
Hi, Drexel! May I put you in touch with an agent in Leesburg/Albany, GA who can assist you? Please email me vchrisner@kw.com
0 votes 1 answer Share Flag
Sat Nov 29, 2008
Nancy Pav answered:
That's a question that would be best left answered by an attorney! If you'd like the name of a good attorney, please let me know and I'd be happy to put you in contact with one.
0 votes 3 answers Share Flag
Sun Jan 18, 2015
Nancy Pav answered:
I work in the area. Please check out my profile on LinkedIn as well as my website. Thanks and I look for to the opportunity to help.
0 votes 6 answers Share Flag
Sat Feb 14, 2009
Nancy Pav answered:
Those are all great questions Kevin. The 1st person you need to talk to is the loan officer who can answer the financing part of your questions. Then you need to talk to a REALTOR who can tell you what type of property your money will get you. Shoot me an email and I'd be happy to give you the contact information for a great lender. ... more
0 votes 4 answers Share Flag
Sun Sep 20, 2009
Eun Yi Chung answered:
Contact me for a list of foreclosures in Leesburg. Eunyi@eunyi.com or 240 286-4324
0 votes 9 answers Share Flag
Tue Aug 19, 2008
Cindy Jones answered:
Keep an eye out in the paper for Trustee sales. That will tell you the homes that are headed to the courthouse steps. Your question has a couple of parts to it that need more details though. If you are looking to buy a house before it goes to foreclosure most likely the property is listed as a short sale and you can't swoop in a buy it for pennies on the dollar from the owner. The bank still has to approve the sale and they aren't giving away the houses. You may find that the best bang for your buck is to keep an eye on properties that are listed as foreclosure and on the market for 30-45 days. At that point banks start lowering the prices to try and get them to move. I have a closing come up next week on a foreclosure that the buyers are getting for 420K that appraised at 460K. ... more
0 votes 8 answers Share Flag
Sun Jul 27, 2008
Frank Biganski answered:
Hi Claire,

The lack of responses is an indicator to the complexity and legalities of your story. Typically, the verbiage of most bylaws states the board has the right to make amendments to the original articles. I’ve also seen some boards micromanaged in such a fashion that the bylaws are all but hand written on a piece of note paper. I would contact a real estate attorney in your area to see if there is a case.

Best of luck!

Frank Biganski, Realtor ABR
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0 votes 14 answers Share Flag
Wed Jun 4, 2008
Weichert Realtors answered:
Its all according to who you used for closing (title company) ., You signed at settlement a document that simply said "compliance agreement" and so did the seller, so if anyone is short they have the right to go after it and dont worry about it ,. ... more
0 votes 1 answer Share Flag
Tue Mar 25, 2008
Danilo Bogdanovic answered:
Items 1, 2 and 3 vary by settlement company and the particular tite search and title insurance company. They sound about right, but without seeing the actualy HUD-1 and your GFE, there's no way to tell for sure.

Items 4 and 5 are set in stone. Those are tax rates set by the city, county and state.

Your real estate agent didn't explain all these things to you? And either did the settlement agent?
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0 votes 7 answers Share Flag
Tue Mar 18, 2008
Nancy Pav answered:
I'm not looking at your HUD1 but it's generally safe to assume that if they're collecting 3 months HOA fees up front, you won't have a payment until July. Is it an Association that collects quarterly? ... more
0 votes 4 answers Share Flag
Wed Mar 19, 2008
Danilo Bogdanovic answered:
It's because they want to have those reserves in place and well ahead of time to avoid the possibility of someone other than them placing a lien on the property, which hurts them (the lender). It may seem excessive, but it's common practive by all lenders across the country. ... more
0 votes 8 answers Share Flag
Sun Jan 18, 2015
Nancy Pav answered:
An offer includes more than just price. It includes settlement date and closing company a well as home inspection, appraisal and radon contingencies. Any of those could be a reason for a seller not to accept your offer, even at full price.
In regards to the short sale aspect, the list price is determined by the seller. A short sale must be approved by the bank. If the numbers don't work for the bank, they'll reject your contract.

Selling a home short or with 3rd party approval is often frustrating for the buyer and the seller and more often than not does not close.
If you have any other questions, please feel free to contact me.
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0 votes 13 answers Share Flag
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