Posts Tagged → Estate
Q&A: Real Estate Agent for Short Sale “Led us on”. Any recourse?
Question by nickh186: Real Estate Agent for Short Sale “Led us on”. Any recourse?
The situation I’m talking about is a short sale in Fl. We made an offer that was accepted about nine months ago (5/1/09). We had no place to move into, so we made a deal with the woman who “owned” the house at the time. We made a lease that would terminate once the house was closed on. Then, we were told her husband went into bankruptcy and we had to wait for the house to be released.
So we canceled the offer 6 months later with no progress, and revised it to reflect the decline in property value. The Seller’s real estate agent assured our agent that she could turn the deal around pretty quick, and now it turns out they haven’t even sent the papers in. So we’re moving out and canceling the offer. It has been a very frustrating situation in which our trust was abused (in my opinion anyways).
So my question is is there any recourse against any of the parties involved? Since the listing agent told us one thing and did another, it would seem like something unethical took place (but unethical doesn’t always = illegal). How about some kind of report I can file to have this follow the listing agent around? I would hate for this to happen to anyone else.
Best answer:
Answer by realtor.sailor
Google Code of Ethics and Standards of Practice of the National Association of Realtors. The listing Realtor may have violated Article 2;”…..misrepresentation …..of pertinent facts…” If this is true you can file a complaint with the local Board of Realtors.
realtor.sailor
What do you think? Answer below!
In real estate, what is a “short sale”?
Question by BaldisBeautiful: In real estate, what is a “short sale”?
im looking into buying my first home and i am trying to understand what a short-sale is when rreferringto a bank owned property. the website says ” bank owned property, this is not a short sale”.
is a short sale something tthat iwould want? if a house is available for short sale does that mean the whole process is quicker? less paperwork? what are the pros and cons?
thanx xD
Best answer:
Answer by v b
Short sale takes longer and there’s more paperwork. (The borrowers are still in the property and have to get permission to sell.)
Add your own answer in the comments!
What is a “Quick Sale” in real estate?
Question by J-lynn: What is a “Quick Sale” in real estate?
I have property in New Orleans that has a house (which has been gutted) on it. This property was affected due to hurricane Katrina. I’m not if that has any relevance to what I’m about to ask, but just wanted to mention it, because it has relevance in the reasoning of why I am selling it for such a cheap price.
I was contacted by a contractor who is willing to buy it from me. He is offering me much less than what the property/dwelling is worth. I am going to take his offer because honestly at this point, I just want it out of my hands. I own the property out right. I paid off my mortgage two years ago and there is no lien on the property.
Here is my question- he has been handling everything and says that my husband and I just need to show up to sign paperwork next tuesday. He says we are going to do a “quick sale” and that he will pay us right then and there with cash. (I’m assuming he means a cashier’s check and not literally cash) This whole process has taken only about two weeks. I’m starting to get concerned that maybe I’m missing something? I’m anxious to get this over with and I’m sure he knows that. I just don’t want to be taken advantge of even more so than I already am by accepting less than what the property is worth…
Is there anything I should know going into this?
What exactly is a “quick sale”?
…btw, I did ask this same question a couple hours ago but got zero responses. I figured if I used a different heading for the question, I might get more answers…
Best answer:
Answer by Mr Placid
“Quick sale” has no legal meaning. He probably literally means, “fast,” as opposed to a sale that will drag on for weeks awaiting mortgage approvals, inspections, funding, etc.
I imagine that since this contractor is doing all the paperwork, then he will also be preparing the deed. I would *highly* [repeat: *highly*] suggest consulting a local attorney before next Tuesday. At a minimum, you want to be sure you do not incur any potential future obligations after you sign the deed. In the other 49 states, you would sign what’s called a “quitclaim” deed. (I don’t know what civil law states like Louisiana call it.) By granting via a quitclaim, you are literally saying, “I am selling this property to you, and giving you no warranties at all concerning quality of title, existence of easements, or covenants, or whatever. So, don’t even think of suing me later if you find out there is some undisclosed easement that prevents you from building that 20 unit apartment complex you were planning.”
See a lawyer in your area. The nominal consultation fee will be well worth it.
Give your answer to this question below!
Real Estate Investors….WHY do you do this????
Question by Kim Y: Real Estate Investors….WHY do you do this????
My hubby is 100% handicapped.
We FINALLY found a home that is 100% Handicapped-altered. (roll-in shower, wide doorways, widened sidewalk, bars for assistance in home, ceramic and wood flooring).
We make an appointment to see the house (been on market with no interest since June 13. They lowered the price by $ 3k, on July 24, and now 2 Investors have drawn up offers) and have been told that two offers have been submitted just this morning.
It is a plain-jane house, with winding roads to get to, built 1980, very modest neighborhood (homes under 1800 sq ft, prices avg selling $ 120 and under).
And what do these investors plan to do with the house?
They are going to “update” it, remove the handicapped adjustments, and turn around and sell it. Over and Over, my hubby and I just aren’t “fast” enough to the rush. WHY remove the handicapped changes? Over & over we poorfolk are forced to pay for handi changes.
Do you not consider that handi changes are good?
We did not find out about the house until Monday afternoon July 28. We made the appmt for Wednesday July 30 because my hubby had a doctors appt at 9 am and we’d go to an 11 am house appmt.
It takes my hubby 3-4 hours to get himself ready because of the energy it takes for him to get ready. He only has 1/2 use of body (paraplegic), and I help him when I can, while getting myself ready to go out.
Anotherwords…
We can’t just “jump” in the car and just run out like ‘regular folk’. It takes real planning to do ANY activities.
So, why aren’t you investors doing this:
WHY aren’t you converting homes to be UNIVERSALLY DESIGNED? Do you know what that term means? It means that the home is made to accomodate persons as they get older so that wheelchairs and other aids are able to be set in place in homes with minimal cost and changes.
It means that as the Baby Boomers age, they can STAY in their homes longer before being ‘forced’ into a nursing home.
If I were in the business of doing Home-Flips, I’d change them over for LONG TERM AGING changes, and not JUST for profit or to “look pertty” for potential buyers.
There has to be some HUMANITY tied into doing some of the home-flipping, don’t you agree???
We are “maxed out” at 120k. Maxed out. Homes under $ 135 are usually ragged and need extensive repairs.
This house was “ready” to go. Asking 112,900, so it was buyable.
It sounds so easy to non-handicapped folks….we’ve tried to buy 4 homes since October 2003 that we could change or was ready…and everything would crash: Here is what happened:
Home #1: original owners. they agreed to our verbal offer. I began to make offer, only to find out that a DEVELOPER walked in and paid CASH, hours before I was to offer.
Home#2, SAME HOUSE. Developer decided 4 months later to sell because he could not sell some of the property to build mansions on. That failed because he over-paid and would not cut a deal.
Home #3: Home was with some changes needed. We could not overbid another buyer.
Home #4: Seller laughed at us; estate sale. We could not come up with his required price.
Now, this home was 100% we could move in today. Haha on us.
Lots in town are going for (yes, believe it or not!) $ 55k on up. At that rate, we’d have to live in a dog house. We’d have to sit for years on the lot before able to build. =(
Best answer:
Answer by bato n company
why not find a home you like and can afford. with real estate status now, you’ll not have difficulty finding one.Bring a contractor friend with you and include in your bid the price to convert it to a”handicap -accessible” unit. GOOD LUCK !!
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How to Select Deals and Sell Houses Overnight Real Estate Course Reviews
How to Select Deals and Sell Houses Overnight Real Estate Course
Includes the following 2 audio CDs with members only website access.
In “Selecting the Best Real Estate Deals” included topics: How does deal analysis fit into the big picture?, Why you need to know Fair Market Value (FMV), How to find comparables sales data so you know what the house is really worth, How to select comparable houses to ensure your value is accurate, How to use comparables to determine the actual Fair Market Value, How to get more offers accepted by giving sellers a choice: the three offer formulas (No money down offers, Hard money offers using none of your own cash and Hybrid offers), Buying houses “subject to” (with no down payment and no credit checks by agreeing to make payments on the seller’s loan) and using the Rent-To-Own exit strategy for maximizing profit and minimizing expenses (and negative cash flow), How to come up with cash when the deal requires it. Approximately 65 minutes.
In “How to Sell Your House Overnight” topics covered: Saving yourself massive time and money: why spead matters, To use this method or not; either way… learn from the marketing systems to sell any house using this method or conventionally super fast, Drawing out the few true buyers: the psychology of this method, The one night sale process overview, How to price the house for best results including guidelines, The safety valve… how to protect yourself and ensure you get the best possible price, What to do before the sale evening… marketing steps for getting it SOLD!, Step by step marketing plan for selling any house, Setting up your 24 hour recorded message for handling calls, Procedures and systems for holding the sale, Additional resources. Approximately 65 minutes.
Price:
Q&A: are you a real estate agent?…what kind of a house is best seller?
Question by denise: are you a real estate agent?…what kind of a house is best seller?
is it a house with a certain feature? maybe new never lived in? maybe attached garage does it? soooo…. whatt makes you look at a house and say to yourself…”this is gonna sell fast!”|
Best answer:
Answer by real estate guy
there is a buyer for every house.
The most important features are price and location.
Know better? Leave your own answer in the comments!
Q&A: What is the most important thing you want from a real estate agent?
Question by Jeanne B: What is the most important thing you want from a real estate agent?
I’m a real estate agent and I would like to hear from home buyers and sellers. I have two questions, and I would like only one answer for each question, although you may elaborate as much as you want on that one answer!
1. As a home buyer, what is the single most important service
you want/need from your agent?
2. As a home buyer, what is the single most important quality
you want/need your agent to have?
3. As a home seller, what is the single most important service
you want/need from your agent?
4. As a home seller, what is the single most important quality
you want/need your agent to have?
Please don’t state the obvious, like “I want my agent to find me the right home” or “I want my agent to sell my house fast.”
What I really want to know is what service and quality make you comfortable that the agent will find the right home for you and sell your home fast.
Thanks for your time!
Best answer:
Answer by duckgrabber
1. Honesty
2. Follows through on promises.
Kent in SD
Give your answer to this question below!
Estate agents: The best deal you are going to get is now
Estate agents: The best deal you are going to get is now
"We offer people the option to sell their houses for free because the buyer pays the fees. "Auctions are for both motivated sellers and buyers because we give them the option to buy and sell fast. We have sold houses starting at £1, going up to £290000 …
Read more on Grimsby Telegraph
Eurozone Crisis Could Affect Mortgages, Sell House Fast
The best thing to do is to avoid the rush by some homeowners who are trying to sell house quick to escape any such impact. Instead, sellers should consider an alternative method that has been proven to help property owners get cash for houses in no …
Read more on Quick Cash for Properties (blog)
How to Sell a House Fast in a Slow Real Estate Market: A 30-Day Plan for Motivated Sellers
How to Sell a House Fast in a Slow Real Estate Market: A 30-Day Plan for Motivated Sellers
In a slow real estate market, selling your house can be difficult– especially if you owe more on your mortgage than your house is worth. In times like these, it’s not enough to simply list your home and wait; you actually have to sell your home. This practical, important book shows you how to use marketing techniques, advertising, repairs and upgrades, home staging, and other creative, effective tactics to get your house sold fast— no matter how bad the market is.
List Price: $ 19.95
Price: $ 10.95
Burnaby’s industrial real estate market on the rebound
Burnaby’s industrial real estate market on the rebound
It appears the industrial real estate market in Burnaby is bouncing back from the economic downturn, according to recent figures from Avison Young.
Read more on Business Examiner