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36527 : Real Estate Advice

  • All16
  • Local Info2
  • Home Buying6
  • Home Selling6
  • Market Conditions0

Activity 16
Sat Mar 16, 2013
Mary McNair answered:
What is your maximum budget? How many bedrooms and baths are required as a minimum?

Have you considered also including Daphne in your search area?

Get back to me with this basic information and I'll research what's available specific to your needs. You can send me an e-mail or call me directly from my profile. ... more
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Wed Feb 20, 2013
Mary McNair answered:
Exact closing costs will vary from transaction to transaction, but typically the buyer is responsible for paying to have documents prepared and the deed filed with the county, as well as home inspection and all costs associated with your financing. The there is a well, your lender will likely require that you have the water professional tested. If you're buying land, you may need to get a perk test if you would have to use septic due to public sewer not being available.

Items that are usually paid by the seller, but are up for negotiation, are surveys and home warranties, if requested by the buyer in the offer. You also want to require the sellers to purchase a title insurance policy which insures they have the legal right to sell the property and there are no problems with the chain of title. (Foreclosures can't provide clear title until after a full year has passed from the date the property was sold at auction, so beware.)

There are so many details that have to be considered, let me help you. Once we find the right house, we'll go over the specifics when you are preparing an offer. At that time, I will provide you with an estimated closing statement so you can have a general idea what to expect to come up with at the closing table.

Give me a call and I'll be glad to assist you from beginning to end.
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Thu Jul 5, 2012
Jeanne Feenick answered:
You'll need to tell us more for us to help you - if you are buying, there is usually a modest down payment that accompanies the offer to show you are serious.

Tell us more...

Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
... more
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Wed Nov 12, 2014
Cynthia Howington answered:
It really depends on the builder. But, an average home in today's market is between $85 to $95 a square foot.
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Mon Aug 12, 2013
Barbara S. Reeves answered:
There are so many variables with the cost of insurance including; the age and construction of the home, the distance from the bay, your credit score and
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Thu Nov 10, 2011
Don Tepper answered:
You should be able to determine who the owner is by checking with your county. Most counties have the ownership information online. If you're asking about Baldwin County, for example, here's the link: Otherwise, do an online search for "[County name] tax assessor."

So if the county records show that "Joe Smith" is the owner and you're talking to Joe Smith, that's a good thing. (Just to be sure, ask Joe for some identification so you can verify his identity.) If you're talking to "Bob Williams," ask Bob if he's the owner. If he says yes, it would appear he's not telling the truth. (Public records do have a time lag, so it's possible that Bob bought the property in the last month.) Now, Bob could be representing Joe. If Bob is a licensed agent, you're very likely safe. But if Bob just says that he's a good friend of Joe's, that a warning sign.

If you're not dealing with the owner in person . . . in today's scam-filled climate, assume it's a scam. Especially if you're just communicating by e-mail. Especially if the "owner" claims he's out of town or out of the country. Especially if the "owner" is offering a really great deal on the rental. Especially if the "owner" says that as soon as you send him the deposit, he'll send you the keys. That scenario screams "SCAM!!"

So: Deal with the person directly, or through a trusted intermediary such as a Realtor. Even if you're dealing with someone directly, face-to-face, make sure he/she is who he/she claims to be. Don't do the deal at your local McDonald's or Starbucks; make sure that the person you're dealing with really has access to the property. And ask for identification. (Embarrassed to? Don't be. Any landlord will ask YOU for YOUR identification.)

Hope that helps.
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Wed Nov 9, 2011
Basel Tarabein answered:
you can easily search the Tax assessor website to findout the name of teh buyer. You have to be very careful of internet scams, Many listings are being listed by people claiming to be the owners and they are asking for deposites to be wired to them. we just helped the authority to locate one guy on craig's list doing exactly the same. Be sure to do your homework before you start wiring money. ... more
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Mon May 9, 2011
Karen Parsons Fiddler answered:
Hi WPetersen7,

Disclosures are from the sellers....and they are to disclose what they are aware of. If they did the new addition, without proper permits and illegally, then clearly they had this information and should have disclosed it. If they bought the home that way, or if the renters did the addition (which is unlikely) then they might not have actually known and therefore don't need to disclose.

Talk to your agent, every state has different laws, you should get some guidance there...but if they violated the disclosure laws then they are liable.

... more
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Mon Apr 26, 2010
Don Tepper answered:

Sometimes the builder is able to line up especially good financing. Then, if you use that particular lender--and you qualify financially--you may get very attractive financing. But always shop and compare.

Also, recognize that a lot of "extras" that builders sell (fireplace, finished basement, certain upgrades) cost the builder far less than he's charging you. So, sometimes, if a builder wants to move some houses, he can throw in those extras for nothing, or at a very reduced cost.

One other tip: Use a Realtor even when buying from a builder. It won't cost you any more, and the Realtor may be able to negotiate some things for you that you wouldn't be able to get on your own.

Another tip: Have a home inspection, even on a new home.

Hope that helps.
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Wed Feb 17, 2010
Destiny Parks answered:
The Act you are looking for is The Mortgage Forgiveness Debt Relief Act and Debt Cancellation. Here is the link for it (below).
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Wed Feb 17, 2010
James Deskins answered:
Sylvia, The IRS considers the amount forgiven as taxable income. This stinks, but it's the reality of the situation and they will likely have to pay it.
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Sat Feb 13, 2010
Anna M Brocco answered:
Not knowing all the facts and what actually has taken place--why not contact an attorney specializing in real estate and review all documentation regarding the short sale.
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Tue Feb 23, 2016
Dottie Studt answered:
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Fri Sep 27, 2013
Elena Sivak answered:
Actually, we got a Notice about increase of land value for tax propose in 2013 by $10,000.00( in 2012 was $50,000.00, in 2013 will be $60,000.00).
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Fri Nov 14, 2008
Sharon and Karen Home Team answered:
I usually ask how long they are planing to try on their own and I try to keep in touch and see if I can help them. I like to "preview" the property and get an idea about the inside this way if I have a potential buyer I can bring them in. there is the usual stuff:
How do you pre-qulify the buyers coming to the house.
How do you make sure that the price is right.
You must be available to show - takes a lot of your time.
Do you feel that you can negotiate your own deal.

None of those will make the person chage their mind but what if you can show them that you can get them sold quickly and for a great price... That might work for them. Ask nicely and don't make them feel they don't know what they are doing.

lots of luck.
Karen Abramson
... more
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Wed May 18, 2011
Vicki answered:
I looked up commercial property for sale in the Spanish Fort area and found some in the 400 to 500 thousand price range. Commercial land starts at 85 thousand in the I-10 Commerce Center. It runs about the same in Mobile. I also found a couple of nice ones there. You can see from these prices what it would cost to buy ready built. It hard to say how much it would cost to build without talking to a builder.
I look up rental property in the Spanish Fort and Mobile area. I picked like properties in Spanish Fort and Mobile. The property tax for the Spanish fort house was $998 and the Mobile was $1625. The Spanish Fort rented for $1600 amonth and the Mobile one for $1332 a month. I also compared 1800-2000sqft in both areas and Spanish Fort was between 165 and 240 thousand. In Mobile there is a wider range in price for the same sqft 100-250 thousand.
Baldwin County schools have a lot to offer.
I can send you the properties that I pulled.
I know that I didnt really answer your question I just gave you the facts that i found so that you could judge for yourself.
... more
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