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Home Buying in West Orange : Real Estate Advice

  • All147
  • Local Info10
  • Home Buying75
  • Home Selling9
  • Market Conditions1

Activity 55
Thu Jan 17, 2013
Debra (Debbie) Rose answered:
No, most people do not do "rent to own" because there are a lot of pitfalls involved, and these transactions usually favor the seller.

Most sellers who can, and want to sell - sell their homes sooner (now), rather than later.

With a traditional "rent with the option to buy", the sale price is decided now, not when the purchase will take place.
If the buyer cannot qualify now for a loan, he or she better make darn sure they will qualify later, as there will be NON-refundable upfront money that will be forfeited if the purchase cannot be completed for any reason.

If the seller is under any financial distress, and stops making mortgage payments - the tenants/buyers will have no protection, and may also lose that upfront money.

If you do not have the deposit money now, you may be asked to pay an amount of rent over and above the normal rent.......that "overage" would be used towards the purchase, or forfeited if you do not or cannot buy the home.

Please make sure you know what you're getting into before entering this kind of arangement.

If you'd like to speak with a real estate attorney, I'd be happy to give you some names.

My advice??

If you can - buy now (make sure you will be staying in the home for at least 5-7 years).

If you are unsure of what this house may be worth........ask the sellers to allow you to have an agent preview it, and do a market analysis for you.

If you are not in a position to buy now, then simply RENT, with no strings attached..........you can also ask any local agent for comps as far as rentals are concerned.

Please let me know if I can be of further help!
Best wishes.......

Debbie Rose
Prudential NJ Properties

email: Debbie.Rose@PrudentialNewJersey.com
... more
0 votes 8 answers Share Flag
Tue Dec 18, 2012
Debra (Debbie) Rose answered:
Hi Raffaele

I see you're an agent - so.....are you asking this because you have buyers looking in W. Orange, or a possible listing?

My office keeps detailed "absorption charts" on W. Oorange, and other surrounding towns, so if you'd like, I'd be happy to email you one.
This way you can see what the W. Orange market has done in the past year - number of listings, percentage that have gone under contract, average days on market, median list to sale prices, etc.

Just email me your information, and I will be happy to help you !

Best wishes........
Debbie Rose
Prudential NJ Properties

email: Debbie.Rose@PrudentialNewJersey.com
... more
0 votes 6 answers Share Flag
Fri May 3, 2013
Brian Diehl answered:
Lauren Orsini is one of the best Realtors I know. Her professionalism and committment to service is second to none. She works out of Verona office at Prudential New Jersey Properties. Lauren has a very aggressive internet marketing strategy and her contact base is very extensive. ... more
0 votes 23 answers Share Flag
Mon Dec 17, 2012
Robert Stern answered:
Hello, I think it is great that you are looking to purchase your first home now, I work in the Essex county area, my office is in Livingston, and know it well. I have worked on REO, Foreclosures and regular sales for the past 10 years.

This is THE best time to be buying. I would love to talk to you about what you are looking for in a home and what you are looking for in the lifestyle of the community.

Please contact me on my cell to chat

I look forward to hearing from you,

Robert C. Stern
Cell: 201-618-0975
Weichert, Realtors
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0 votes 5 answers Share Flag
Thu Dec 13, 2012
Armin Lusinyants answered:
Hi Melly, West Orange is in Essex county and it has one of the highest tax rates in USA.
http://www.baristanet.com/2011/03/essex-county-has-2nd-highest-property-taxes-in-u-s/

Regards,
Armin Lusinyants
E-mail: alusinyants@weichert.com
Cell: 917-626-9420
http://www.MoveOutorInwithArmin.com
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0 votes 9 answers Share Flag
Mon Nov 26, 2012
Allison Ziefert answered:
Melly, I think you should narrow down which town you like best and then concentrate on finding a house. They are all great choices but each has a different vibe. You can get some additional community info on my website: www.azhomesnj.com.

You will get the most for your money in W. Orange, then Livingston and then Montclair. $12,000 in taxes might be a bit ambitious. Taxes in our area are notoriously high.

Let me know if I can help your family. Good luck.
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0 votes 12 answers Share Flag
Wed Oct 24, 2012
Andrew Tisellano answered:
I live in the Essex, Bergen, Passaic county area and my mom and brother live on SI
it is about a 40 minute commute to them
To the city is 30-40 minutes.
My 2 boys are in 8th and 9th grade
We can find the house you are looking for here.

You can also look in the MIddlesex area where they have a train to the city about 45 minutes
and then you are only 20 minutes from SI

let me know if I can help you
... more
0 votes 10 answers Share Flag
Tue Jul 17, 2012
Allison Ziefert answered:
I would start by contact the tax collector of the Township of W . Orange:

Joanne Gagliardo
Tax Collector

66 Main Street
West Orange, NJ 07052

Phone: (973) 325-4075
Fax: (973) 736-9182

Hours:
Monday - Friday
8:30 am - 4:30 pm
... more
0 votes 2 answers Share Flag
Mon Jul 29, 2013
Gina Chirico answered:
Hi Penny,

If you provide a little more information as to what you are asking, I can certainly help.
0 votes 7 answers Share Flag
Sat May 26, 2012
Karen Gilbert answered:
There aren't any rent to own listing services. Find yourself a good Realtor who's willing to do the research to find Sellers who will consider this option.
0 votes 3 answers Share Flag
Sat Jan 28, 2012
Malik Crichlow answered:
Hey Ingrid,

What information do you have about the property? do you have an MLS # or an address? I can look it up for you and answer any questions you may have.

Malik Crichlow
BROKER/OWNER , CDPE, SFR
GoodBuy Homes NJ Realty
1811 Springfield Avenue Suite 2

Maplewood, NJ 07040
Office: 973.762.4662

Direct: 347.538.6864
Fax: 973.762.4662

Info@Goodbuyhomesnj.com
... more
0 votes 9 answers Share Flag
Wed Nov 30, 2011
Jerry Barker answered:
I live in Hammonton, which is a half hour away from both Philly and Atlantic City. Its a good place to live, we have some brand new 2 bedrooms condo's being built right now for around 219,000. There are also some that are around 10 to 20 years old for sale around 150,000. Let me know if your interested. The town is in Atlantic County, off exit 28 on the Atlantic City Expressway. ... more
0 votes 2 answers Share Flag
Sat Mar 12, 2011
Tim Moore answered:
Tax assessments don't really show a true value to your property, it just tries to group homes in a sort of equal light so each pays a far amount of tax based on things like location, size, beds, baths and other things. It can't take into account views, condition, upgrades and things like that. Assessed values can be way under the selling prices, you need to speak to an agent in your area who can put the big picture together for you. Each market is totally different. ... more
0 votes 6 answers Share Flag
Sat Apr 16, 2011
Anna M Brocco answered:
Since none of us are directly involved in the transaction, and not knowing all the related facts why not consult with your agent and or attorney, either party can best advise as it relates to your specific situation.... ... more
0 votes 7 answers Share Flag
Thu Mar 10, 2011
** Jeremy Gryvatz ** answered:
Sylvia,
When Buying a home, its important to first reach out to a reputable lender who can detail the entire process for you. This is best done through a phone conversation or face to face meeting. Once thats all cleared up there is little stopping you from finding your dream home..

Jeremy Gryvatz
... more
0 votes 4 answers Share Flag
Tue Feb 28, 2012
Michael Emery answered:
There is no mandatory rule that requires the Realtor attend YOUR home inspection.

As a general rule, the inspector I use told me maybe half the time the agents show up for inspection.

I show up for all my inspections, but I try to keep my comments focused on helping to clarify what the inspector has found and also bringing up any issues that the homebuyer had questions about when we first looked at the house.

Realtors are born salespeople. Sometimes it's hard for us to keep our mouths shut!
... more
0 votes 27 answers Share Flag
Thu Feb 24, 2011
Tim Moore answered:
You must pay it off, or someone will have to before the title company will issue title insurance on the property. Your lender will require title insurance so that lien, as well as all liens, must be removed before you can close. ... more
0 votes 5 answers Share Flag
Fri Feb 4, 2011
Joe Serino answered:
Hi -
I can give you several names of attorneys who I've worked with over the years that specialize in real estate, even invest themselves. I would suggest you call and ask questions before retaining one of them, just like you would do with any professional. I don't feel comfortable giving names in this venue, so you can contact me from the link below if you want.
Short sales offer a great opportunity for investors. The more experienced stand to do very well in this market where "cash is king", as they say. The typical home buyer, however, needs highly experienced real estate agents and a real estate attorney to avoid making costly mistakes. Personally, I am a licensed NJ home inspector with 18 yrs experience. I would be happy to assist in any way I can.
JPSerino
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0 votes 1 answer Share Flag
Thu Feb 3, 2011
Dave Griswold/ Lisa Payne-Griswold answered:
Hi Suds, Thats a Tall order, If Realtors/Brokers are members on Trulia you would see them. Some Realtors/Brokers are not on Trulia so you wouldn't get them. Best thing you can do is visit a Real Estate Agencies Web Site, Feel Free to visit ours should you choose to do so, you can on our page put in exactly what your looking for and all available listings will come up.

all the best

Dave & Lisa
... more
0 votes 4 answers Share Flag
Fri Feb 4, 2011
Suds answered:
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