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Robbinsdale : Real Estate Advice

  • All14
  • Local Info1
  • Home Buying5
  • Home Selling2
  • Market Conditions0

Activity 7
Thu Sep 30, 2010
Lenny Frolov answered:
Unfortunately you are out of luck. Sometimes that is the way short sales play out. The good news, however you may not see it that way, is that prices are below what you most likely offered on that property back in November. Now you could probably buy the same house for $8,000 cheaper than you were going to buy it for in the first place. I know its not cash in hand but the deals are out there right now. As difficult as it may seem try to see the upside the current market will bring you. ... more
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Fri Oct 22, 2010
Bill Eckler answered:
Jesica,

The best resource for this information is the city itself. There should be a contact number on your repair list. We recommend that you be in touch with someone from the city that can respond to your concerns with some accuracy.

Good luck
... more
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Wed Oct 28, 2009
Steve Hoem answered:
The market, it is a-changin'. Especially with lower price foreclosures, multiple offers are the norm right now. Trust your agent's advice and be ready to look at homes as soon as they hit the market (within a matter of hours). I wouldn't recommend making an offer until you've seen the house though. There are still lots of ugly homes out there with big problems and/or how do you know it's a home you want to spend this much money on until you see it? ... more
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Tue May 19, 2009
Dixie Brown answered:
Jesica:
Congratulations on your decision to become a home buyer! It's a very rewarding yet emotional process. When submitting an offer on a property always keep in mind that your offer needs to be based upon comps for that property. I would strongly suggest that you align yourself with an agent that really knows the area and can give you all of the information you need to make a firm offer. Foreclosures can be tricky, so again I would encourage you to seek the assistance of a Realtor. They will be able to steer you away from any potential pitfalls and make your home buying experience a positive one. Good luck! ... more
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Wed Jul 25, 2012
Aaron Dickinson answered:
Since none of us have seen the house or have full details of your situation it is hard to provide specific advise. I'll tell you that how long the bank has had it or what price it started at or how much money you have all have very little to do with what the bank will accept as an offer. If it is anywhere close to market value for its condition and amenities it should be getting multiple offers. If it hasn't then it is still high.

You will have a chance to inspect the plumbing during the inspection phase of your purchase and if it's bad you can try to negotiate with the bank or often walk away. Rentals depend on condition, type, number. Asbestos siding will never rot and is quite durable, but yes there are concerns about the dust if they are damaged or removed.

Putting in an offer costs nothing. Waiting longer risks a further price reduction by the seller and new interest from other parties. An offer for 30% lower than the asking price in my opinion has very little chance to be accepted but there are no rules when it comes to this.

Sitting around doing nothing doesn't help you... do something to get the ball rolling.
... more
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Thu Mar 31, 2011
Susan Wesely answered:
Contact a good Realtor to help you through this process. I would be happy to meet with you and discuss next steps, and can be reached via email at su@suwesely.com. There are a lot of things you can do to make your property appealing to buyers, and to let them know it's on the market. A Realtor can keep the whole process organized, provide you with many different marketing avenues, and get the best price possible for your home. ... more
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Thu May 22, 2008
Trey Bowden answered:
Alisa,
Most community agencies offering down payment assistance monies work just like this. They require a prorated repayment of the funds should you sell, refinance or lose the home within the first 5 years. It is extremely rare that they will subordinate to a third position as in your case.

Unfortunately you will be required to include the pay off of this down payment assistance in your new second mortgage.

Good Luck!

Trey Bowden
Mortgage Lender
Oklahoma
(405) 340-3277
... more
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