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55118 : Real Estate Advice

  • All11
  • Local Info0
  • Home Buying7
  • Home Selling1
  • Market Conditions0

Activity 176
Sun Nov 17, 2013
Elizabeth Fuller answered:
Your question as I read it, can't be answered. What has your son filed? Who holds the C/D? What is the property value related to the C/D? I will be glad to try to answer if you can be more specific/ Liz ... more
0 votes 6 answers Share Flag
Thu May 10, 2012
Michael Emery answered:
Is the association aware that your property is in foreclosure and you will be moving out at the end of the redemption period?

As I recall, under state law the bank that takes possession after foreclosure is obligated to pay 6 months of past due association dues. But you may be liable for any that are not covered under that law. It would depend on your association documents.

First step is to talk to the management company regarding your foreclosure. If they intend to pursue you for HOA fees, then you should talk to an attorney.
... more
0 votes 11 answers Share Flag
Wed Mar 14, 2012
Susan Hofflander answered:
Well, there's no reason why he can't purchase it from a conventional real estate transaction standpoint. But, it depends on a couple of things.
1. Who has rights to the property? Do the siblings and he have decision making power over the property together?
2. Can your husband qualify to purchase the house from a financing standpoint?
3. Is your husband prepared to take on the responsibilities of owning a house?

These are all questions that need to be answered before a comprehensive determination can be made. I would consult a real estate attorney to know exactly what his/your rights are.

Good luck, Jayjeemarie!!!
... more
0 votes 4 answers Share Flag
Tue Apr 24, 2012
Suzanne Bownik answered:
Unfortunately the attorney handling the short sale is representing the seller and has no responsibility to answer to your Realtor. Short sales can be frustrating, especially when waiting that long. I am certain your Realtor is doing all they can to get a response from the listing agent. At this point the best advice I would give is to your Realtor....Call the listing agent's Broker and ask that the agent respond....

Suzanne Bownik
Realtor, Associate Broker
TheMLSonline.com
612-309-0884
... more
0 votes 5 answers Share Flag
Thu May 31, 2012
Sarah Goulart Nathe answered:
That they can present their information in an 'alarmist' manner.
0 votes 9 answers Share Flag
Mon Dec 10, 2012
Thomas Drayton answered:
The quick and easy answer Manpat777 is "yes", you will.

If the owner is in redemption then they must pay the mortgage in full before redemption expires to regain possession of the property. I don't think that is likely to happen.

Thomas Drayton,
www.tdrayton.com
Eagan, MN
... more
0 votes 3 answers Share Flag
Thu May 10, 2012
Anna M Brocco answered:
Before considering foreclosure and in order to best protect yourself, do consult with an attorney who specializes in real estate, see exactly what options you may have; most professionals do offer a free consultation, or if you cannot afford one, contact your local Legal Aid Society for a pro bono attorney, free. It's possible that a short sale may be a better option over foreclosure. ... more
0 votes 15 answers Share Flag
Sun Oct 5, 2014
Cameron Piper answered:
Give me a call - I know the 55113 area very well.

Cameron Piper
612-839-4202
Coldwell Banker Burnet
licensed MN Broker
0 votes 11 answers Share Flag
Mon Jan 11, 2016
Susan Hofflander answered:
Yes, unfortunately, it is legal. If they accept any less than what you currently owe in total without there being another agreement in place, it could look as though they are okay with your late payments.

A good idea would be to call and make arrangements on how you're going to make up your late payments. You may even qualify for one of the new mortgage modification programs.

Good luck, Blueeyes2371
... more
0 votes 4 answers Share Flag
Fri Dec 16, 2011
Pro Realty Services answered:
Tue Apr 24, 2012
Dan Tabit answered:
Keith,
Step one is review your property management agreement. Did they hold up their end of what was spelled out in that agreement? If not, you may have some action against them, but in most cases the manager will protect themselves against the actions of the tenants. Being a landlord isn't easy, being long distance is harder.
Regardless of whether they are responsible this time, put the necessary changes into the next agreement so this doesn't happen again. I'm sorry for your troubles.
... more
0 votes 3 answers Share Flag
Sat Dec 10, 2011
Cameron Piper answered:
Chcuk,

It would help if you specified whether you are thinking of buying or renting. From there we need an area and some criteria.

Cameron Piper
Coldwell Banker Burnet
licensed MN Broker ... more
0 votes 3 answers Share Flag
Tue Apr 24, 2012
FSBOsuccess answered:
The foreclosure should not affect you or your credit. I would go with the 2nd broker.
0 votes 2 answers Share Flag
Tue Apr 24, 2012
Steven Ford answered:
First, target the area you want. Second, consult a Realtor in your home town about finding you a good realtor in the target area. Third, investigate what will be required to get financed on a second home (usually the down payment is larger and the interest rate might not be as low as a primary residence). Fourth, contact the Realtor(s) and interview them on the phone to get a sense of what they are about. Establish email contact so you can provide the Realtor with pertinent information about EXACTLY what you are looking for.

Lastly, make a visit and view some property...make sure the Realtor is staying with your program and showing you houses you are really interested in.

Enjoy the experience and good luck.
... more
0 votes 10 answers Share Flag
Tue Feb 12, 2013
Ron Thomas answered:
Chicago and Stewart are both Companies that I have dealt with and would recommend;
Your Realtor may have a favorite.

Walk in and ask them for a HUD1 which will show your share of the Closing Costs so that you can compare.

You should be able to specific your choice.

Good luck and may God bless
... more
0 votes 13 answers Share Flag
Thu Jul 14, 2011
Lenny Frolov answered:
I would make the managment company prove that they complied with the required 21 days needed to mail the deposit back. Ultimately though I think you could be on the hook unless the lease was under the management companies name. This is a question for an attorney as you have potentially a lot to lose if the tenants make a claim. ... more
0 votes 6 answers Share Flag
Tue Apr 18, 2017
Debra (Debbie) Rose answered:
Jimmy, all commissions are negotiable, and it is improper for any agent to discuss specific commissions in a public forum.
Interview a few agents...... see what they charge, and what their marketing plan will be.
Ask for it in writing.
Compare and contrast what they are offering.

My advice is to focus on the agent.......... their experience and knowledge of your area, and what efforts they will make to get your home sold. Ask what their track record is.....what percentage of their listings sell.
While I understand that the commission is a concern, shopping for the lowest one might not be in your best interest.
There are also flat fee brokers you might want to investigate.


As far as who pays the commission - that's an often discussed/argued point here on trulia.

On the basic level............. the seller pays the commission. The sellers sign a listing agreement in which a commission is stated - to be paid when a buyer is found.The listing agent usually agrees to share that total percentage with any agent who brings in the buyer.
The commission is paid at closing, and taken out of the proceeds of the sale.

So, on the surface, the seller is paying the commission.

Now, here is where the discussions come up............it is believed that, in reality, the buyer is also participating in paying the commission, as the final accepted price is most likely factoring that in.
Without a commission the buyer most likely would be able to purchase the home for less. So, they are certainly , in effect, paying the commisson along with the seller.

Good luck!
... more
0 votes 15 answers Share Flag
Thu May 12, 2011
Laura Feghali answered:
Hello Harris,
Contact the city's Parks and Recreation Dept. as they can advise you on how to reserve a spot. Here is a link to their web site which may be of help:

http://www.stpaul.gov/index.aspx?nid=243

Good luck!

Laura Feghali
Prudential Connecticut Realty
... more
0 votes 2 answers Share Flag
Wed Oct 16, 2013
Bill Eckler answered:
Cequal,

The only losers in this market are those individuals that are not staying current and exploring real estate options....this doesn't mean that it's the right time for every individual to buy, but if you aren't actively looking, the perfect opportunity is likely not going to find you.

Is it the right time......absolutely, for the right people.
Our best recommendation, keep your options open by remaining current with your local market.

Good luck,

Bill
... more
0 votes 14 answers Share Flag
Fri Mar 25, 2011
Michelle Carr-Crowe answered:
When you are buying and fall in love with a home, you don't have a lot of choice about the short sale lender. If your agent is able to search, definitely Wachovia & Wells Fargo. B/A is a crapshoot right now, although they say they are improving. ... more
0 votes 11 answers Share Flag
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