Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

South Euclid : Real Estate Advice

  • All35
  • Local Info1
  • Home Buying9
  • Home Selling4
  • Market Conditions3

Activity 15
Mon Mar 5, 2012
Luckygirl asked:
Looking for investment property I want to sell my current home and have renter pay my mortgage. I have 63K cash to invest. found many bankowend/forclosed properties like to retire and r...
0 votes 0 Answers Share Flag
Wed Jan 11, 2012
Steve Pope asked:
Tue May 31, 2011
David Burnham answered:
You could ask the listing agent to send you a few of the pictures to post. Otherwise you might want to post a link from the Trulia web page on your facebook page.
0 votes 3 answers Share Flag
Sun Oct 17, 2010
Mack McCoy answered:
That's an interesting concept, Babs; I'm thinking that maybe real estate brokers could just put out a tip jar or enact a "pay what you can" program.

It seems to me that if you have very little equity, that it is especially important that you hire the best agent - regardless of cost - to protect and defend it.

All the best,
... more
0 votes 3 answers Share Flag
Thu May 20, 2010
Anna M Brocco answered:
Since no local answers yet--Any local agent can help you, contact any realty office(s) and inquire or contact any local Trulia contributor(s) directly and ask.
0 votes 2 answers Share Flag
Thu May 20, 2010
Anna M Brocco answered:
You may wish to ask your question again and attach a link or give an address so that your question can be answered accordingly--in the meantime any local agent can help you, contact any realty office(s) and inquire. ... more
0 votes 1 answer Share Flag
Thu Jun 19, 2008
James L. Jones answered:
Local laws will impact the list of Pros and Cons and the specific details of your contract will too. The first best advice is consult a real estate professional in your local market or an attorney experienced in such agreements. The first and worst cons are that as renter/lessee you do not own the property. You lose or do not gain the benefits of home ownership. Secondly if the Lessor/Owner fails to continue mortgage payments or property taxes while you are in the rental/lease term, you may loose your investment to foreclosure. Just because you make all of your payments in accordance with your agreement, it does not guarantee the property owner will.

Pros are that you can establish a path to ownership with little or no initial cash out of pocket and without meeting the current mortgage qualifications and credit requirements.You might be protecting yourself from committing to a property with undisclosed or unknown issues or, since much of the Cleveland area may be considered to be declining, you might be protecting yourself from overpaying. This of course is provided your real estate agent or attorney can establish provisions within your purchase agreement to allow you an out.

If you have reasonable credit, find a good mortgage broker or lender and take advantage of the programs available that can get you into ownership with little or no out of pocket. Check to see if the property might qualify under the USDA Rural Development financing program and borrow up to 102% LTV. http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do?pageAction=countyMap . Guidelines can be found at http://www.rurdev.usda.gov/rhs/sfh/gsfh_information/real%20estate%20professionals.htm .

As with any business transaction, there are risks and rewards. Consult a local professional for assistance. Interview several agents, get referrals from friends. As a buyer, the fees for a real estate professional (Buyers Agent) will normally be paid by the seller through the seller's broker. An attorney will be your responsibility to pay.

A local realtor can provide you with information concerning available properties meeting your criteria in your area. If you don't know of a local realtor I, or any agent on Trulia, can give you a referral.

Like the disclaimer goes. "I am a trained professional, don't try this yourself at home."
... more
0 votes 5 answers Share Flag
Wed Apr 30, 2008
David M. Childress answered:
The only way to know is to consult with a mortgage specialist and go over your situation. If friends or family cannot recommend someone a good local agent could help you. It costs nothing to get help. As I know your area very well, I would be happy to recommend one to you. Good luck.

David
... more
0 votes 2 answers Share Flag
Tue Apr 1, 2008
Mikem answered:
Depends on how your contract is written, but in most cases your contract will state that the broker with whom you signed an agreement gets paid regardless of where the buyer is coming from. Now, can the seller fire their broker because they can't make snow fall from the sky (or some other silly reason) and then sell to friend or family or anyone else a week later? Most likely yes.

If the seller wanted a contact that lets them sell to their friends/family or anyone else who found out about the porperty through them and not the agent, they should've asked their agent and would have signed a contract that allows them to do just that. The agent would of course act accordingly.
... more
0 votes 5 answers Share Flag
Mon Mar 31, 2008
Robin Burton answered:
Have you been qualified by a lender or bank to buy a home or will you be paying cash? do you want a fixer upper or move in ready? robin burton
0 votes 4 answers Share Flag
Sat Mar 29, 2008
Robin Burton answered:
Mon Mar 31, 2008
Ronnie Woodrow answered:
If it is on the HUD yes. But almost no lenders will allow this. Is the money to do some sort of repair? I have seen where it was allowed but never to the buyer. It was directly to a contractor for work. So buyer beware! If you would like more indepth detail please let me know or contact a local Real Estate attorney or title company. RW ... more
0 votes 7 answers Share Flag
Thu Jan 31, 2008
Emily Erekuff answered:
Hi CJ,

The link below will show you the Real Estate Professionals on Trulia Voices who are located in Cleveland and/or answer the most questions posted in that area. You can browse through their profiles and their answers to get a feel for their expertise and you can contact any you are interested via the link provided on their profiles.

I hope this helps you.

Best Wishes,

Emily Gibson
Customer Service Representative
... more
0 votes 1 answer Share Flag
Mon Sep 7, 2015
Marie Cindric answered:
using the trulia statistics, south euclid's listing prices have stayed steady, but the sale prices have decreased slightly, these trends may be the same in other areas around south euclid, so don't assume it's not the right area for you, there are other factors you may want to consider. ... more
0 votes 3 answers Share Flag
Search Advice
Search

Followers

91