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Paoli : Real Estate Advice

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  • Local Info3
  • Home Buying4
  • Home Selling1
  • Market Conditions0

Activity 14
Sun Feb 24, 2013
jim clark answered:
HEIDI,Avon grove schools are good!Have rental for 2,000 if you are considering the area.JIM CLARK BEILER-CAMPBELL REALTORS!THANKS!
0 votes 2 answers Share Flag
Thu Feb 14, 2013
Edmund Choi answered:
I have sold dozens of distressed properties in the last several years. My office is located in Devon. Let me know if I can be of assistance.
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Sun Jan 20, 2013
Debra (Debbie) Rose answered:
And what else has the landlord "offered" to do?
Why is the seller willing to do this?

A rent with the option to own arrangement usually favors the seller.

There are a number of pitfalls that a buyer needs to beware of.

If you can't qualify now for a loan, or don't have a down payment, and that's why you would consider this arrangement......make very sure everything will come together for you at the end of the lease, or you could forfeit any upfront /deposit money.

Also - with this arrangement, the price is agreed to now - do you want to guess what the valeu will be a year or so from now?
Also - why hasn't the home sold as yet? Is it overpriced?
Usually sellers who are desperate and can't sell their homes now may turn to this sort of option.
Is the seller financially sound?
If they stop paying the mortgage, you will have no recourse...and they will have your money.

Make very sure you understand everything that caan come into play with this kind of deal.

Absolutely hire a real estate attorney to make sure your rights are protected............in my opinion, rent for now and buy when you are financially able to do so.

Best wishes.......
... more
0 votes 10 answers Share Flag
Mon Nov 26, 2012
Nick & Trudy Vandekar answered:
Some of these homes have garages, some don't. Not rented seperately. Monthly fee is $254.00 and the one time fee paid at settlement is $762.
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Thu Aug 2, 2012
Martina Lothert answered:
Hello HomeinPA Seller
Please give ms a call so we can discuss details.
You can also check out my web site at www. Livinginchestercountypa.com or ml-realestate.com for more information.
Email works too I also answer all text messages.
Martina@ml-realestate.com
610-883-2739

All the best
Martina Lothert
Keller Williams Real Estate Exton
... more
0 votes 5 answers Share Flag
Sat Jul 9, 2011
Mack McCoy answered:
Your lender will absolutely require your DOB and SSN, I don't know about your agent, I know I don't.

All the best,
0 votes 6 answers Share Flag
Thu Jun 30, 2011
Shanna Rogers answered:
Hi Homebuyerinexton,

The agent qualifications mean the agent has more education, not necessarily more experience. The qualifications are good because most agents actually learn something when getting the qualifications. That does not mean, however, that an agent without the qualifications is any less an agent.

The best way to select an agent is to ask friends and family if they know of any good agents. You should try to get a few names (Google in your area too) and then interview them to see who you are most comfortable with. Purchasing a home can be a stressful experience so the more comfortable you are with your agent, the better.

Good luck.

Shanna Rogers
SR Realty
www.RealtyBySR.com
... more
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Sun May 15, 2011
Edmund Choi answered:
The Gross Rent Multiplier or GRM is a ratio that is used to estimate the value of income producing properties. The GRM provides a rough estimate of value. Only two pieces of financial information are required to calculate the Gross Rent Multiplier for a property, the sales price and the total gross rents possible. If this information is available for multiple recent sales of similar types of income properties in a particular area, it can then be used to estimate the market value of other similar properties in that area. Some investors use a monthly Gross Rent Multiplier and some use a Yearly GRM. The monthly Gross Rent Multiplier is equal to the Sales Price of a property divided by the potential monthly rental income and the Yearly GRM is the Sales Price divided by the yearly potential rental income. Good hunting! ... more
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Sun Sep 13, 2009
Nick & Trudy Vandekar answered:
Again this should all be taken care of in the agreement of sale. Usually this is part of a mortgage contingency, if you are using an FHA loan product as well the contract should also say the house must appraise at the price offered in the agreement of sale. ... more
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Sun Sep 13, 2009
Nick & Trudy Vandekar answered:
The time in which the seller is asked to respond is one of the elements of crafting your agreement of sale. We usually ask sellers to respond in 24 hours, sometimes quicker if we feel we are putting forward a fair and good offer. However, if you are dealing with a bank owned property, a relocation company or a short sale things are different. None of these workm over the weekend. Banks can be very slow when they own the properties and when dealing with short sales. We have ways to speed these up knowing who to deal with at the banks.

Does the seller have to tell the prospective buyers about the other offers. That is their decision. We as agents usually inform all parties if their offer has been accepted or rejected, sometimes this might elicit another offer from a rejected party and if the agreement of sale has not been signed by all parties then this offer should be presented to the seller even if they have had a meeting of the minds on the terms of the other offer.

All sales are dictated by the terms of the agreement of sale and price is not always the only element that can be important. Sometimes a settlement date may be more important than price for example. This is why ity is important to use a realtor who can negotiate well and discover what terms might be important to the seller before making your offer.

I hope this answers your question feel free to contacrt me through our website if you have other questions or need further clarification.
... more
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Tue Sep 1, 2009
Shehla Karim answered:
Your wife doesnot have to be working for her name to be on the contract and on the title.Yes, She will not get a mortgage to her name if she is not working.

Shehla karim
Weichert Realtors
Paoli, PA 19301
Cell:610-659-4869
... more
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Tue Aug 18, 2009
Jennifer Daywalt answered:
Good Afternoon,

Only if it is initialed by the other party. If anything is written on the contract and/or buyer contract that is not initialed by both parties involved it will void the contract. Anything written on the either contract should be done in front of both parties so you know there is an agreement and both can initial at that time.

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Agent 2004, 2005, 2006, 2007, 2008
610-999-7693 Direct
610-489-7355 Main Office
Sellinghomesjenn@aol.com
... more
0 votes 6 answers Share Flag
Thu Oct 16, 2008
Sharon Harris answered:
During the housing boom this what buyers where looking for. It was the American dream. Loans where easy to obtain and given out in large amounts! Newer developments wanted there devolpment to be bigger and better then the next. it all got out of hand as you can tell by the news.
You can get a private builder to built the type of home you are looking for. And yes you are right these larger homes are very expensive to heat and maintain. that is why you see lots of them right back on the market!
... more
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Tue Oct 6, 2009
Mike Kelly Allison Norman answered:
All depends if it's working properly. Septic Systems our finite systems. If you have NO room for expansion of the existing system or it inerferes with the water supply of this or neighboring properties then it is not only a negative but a big health and safety issue. We have many very high end areas that have septic systems. This means they are in the country and NOT able to be hooked up to City services. However, if you can hook-up to sewer and abandon the septic system I think i would be a HUGE plus in the marketing of the property. It will create both buyer AND seller piece of mind knowing that when they close escrow the system will NOT be an issue of further, future litigation. ... more
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