 Being lied to by buyer's agent- want to make offer on home but not through him- what to do? |
| We have been lied to through our "buyer" agent for the umpteenth time. I won't list all the problems, I'll get straight to the question. We're ready to put an offer on a home ... |
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 Who do I talk to about my slumlord? |
Oh my god I have THE biggest problem right now and I don't know who to talk to,
I have lived in my apartment for over four years in Venice ca. My rental agreement states that I pay $800.00 ... |
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 Who else thinks this is funny (about my landlord's eviction case)? |
I didn't pay rent for May. So he took out a Detainer. The dummy didn't get a certificate of mailing to prove that he sent a Pay Or Quit Notice. So the judge dismissed the case.
A... |
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 HOMELESS WITH 5 YR OLD. NoT ELIGIbLE FOr COUnCIL HeLP... WhERE NeXT???? |
| I am homeless and have a 5 year old child, i am not eligible for council help as 3 years ago i lost my property, through difficulties i was going through. I have even been to solial services. Even ... |
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 Re-decorating a rented flat? |
| I didn't put anything into the lease about re-decorating the flat. After 2 weeks the tenant told me she has re-painted the kitchen. I am worried that she may paint the rest of the flat in ... |
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 How much does credit matter when renting? |
| i'm looking at getting an apartment. how much does credit actually matter when renting?... |
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 How long does it take to buy a house? |
| I live in the UK and am a first time buyer. If I buy a house which is vacant (no chain) then what's the quickest time that I could be in by? i.e. how long could all the paperwork take if I'... |
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 What can I do legally to get even with a nasty landlord?? |
| I know there must be a way to win a lawsuit against a landlord and to get even with him. He has never fixed anything, the pipes are frozen, the electric is faulty, the basement has black mold and I ... |
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 IS RENTING A HOUSE or BUYING BETTER? |
| I've heard friends who worry all the time about the price of this and the price of that from owning a home... and honestly it makes me worry, which is better?... |
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 Should i buy a property in South East this winter? |
| Or will the housing bubble burst sometime soon?... |
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| I'm a renter and my home will be auctioned in 2weeks that's my only notice HELP!!? |
i have got a notice saying i have til 6/24 and my home will be autioned ..i need help and can't afford a lawyer
Additional Details
correction it was a Notice of Trustee's Sale..... |
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 Why are real estate agents unwilling to work with me? |
| I want to spend under $30,000. Some agents won't call me back. Other ones take their time calling me back, or don't have time to show houses to me. I feel like I'm missing the ... |
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 I put in a offer on a home and it was accepted. Unsure of the house now. What would you do? |
| I put in a offer on a home in san diego california. The offer was accepted. I will be putting down 73 thousand dollars of my mom's money. Thats a lot of money. This house is a fixer and I ... |
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 Where would i find out where the official right of way is through my boundries to adjoining properties? |
| I live in an end terrace and have a right of way through the boundries for access to the other houses back doors. At present we let the neighbours use our front gate and through our courtyard to ... |
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Navygirl | My husband and I want to walk away from our morgage. It is 97% of house value. Can we do this? |
The house has been for sale 3 yrs now. We live 2 hours apart during this time due to work. Now our health and relationship is suffering from the stress. There are no investors in our area for short sale. What other options are there? We are more concerned about the human value than the monetary one at this point. The house is huge, in excellent repair and is being used currently as a B & B. It is a century home with many original features. Our real estate agent has priced it right, and all viewings claim the home to be "gorgeous", but since we live in a small town on Georgian Bay and the size and cost of the home are out of reach to locals, it is proving SO hard to sell. We don't see any other option at this point. We just need to be back together as a family again before one of us is hospitalized. Appreciate any advice. |
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quantumrift
 |
Here are your options:
1) Quit paying on it and let the lender foreclose. That is the WORST thing to do, as far as your credit rating goes.
2) Hand the keys back to the lender and let them deal with selling it. NOT as BAD as Option #1, but you will STILL take a bad hit on your credit as they can avoid the entire foreclosure process.
3) Sell the place for what you can get out of it. Say it's worth $500,000 and you sell it for 97% of what you should be able to get out of it. That leaves you owing $$15,000. THAT is even BETTER than option #1 or option #2.
4) You can sell it yourself, and you can sell it for less because you won't have to cough up the 6% commission. Be creative.
5) RENT or LEASE THE PROPERTY. See "ADVERTISE" Below:
ADVERTISE ADVERTISE ADVERTISE...if not in your area, then expand your advertising area. Put it up on EBAY for "buy it now" price. That opens it up to the WORLD.
What I'm saying is that ANYTHING is better than just 'handing the keys back'. But only you can decide that one. |
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walkstallshadow
 |
One option is for you to rent it.
Another might be for you to do a rent to own situation. The rentor would be responsible for rent, paying property tax, insurance and up keep.
Another would be to allow someone to take over the mortgage.
The final option is to allow your lender to reposess it. This is bad, bad, bad for credit and will remain on your credit history for up to 10 years. You could protect one spouses credit by potentially transfer it into just one of your names, that person would have to refinance and then allow the reposession.
Oh, you would always try eBay. I see houses like the one you describe all of the time on there. And I've seen where people do a lottery type of drawing on eBay. They charge $100 a lottery ticket and once they get enough to cover the mortgage, they do the drawing. I don't know how successful that strategy has been. |
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Mr. G
|
Advertise it to a larger audience. Your real estate agent should know this. Make sure your agent is working for you and not working to keep his/her commission high.
If you are willing to walk away, I am sure you are willing to take a lower price.
Think about listing on Internet sites.
Just my 2 cents...good luck selling. |
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Shepherd
 |
Three years is a long time to be going through this. I feel for you. I can't offer any advice that I didn't already see mentioned here, but I can tell you that if you drop the price significantly, your realtor will probably bail out, so be prepared to list the house yourself.
If you abandon the property and let the bank foreclose, it may seem like you are saving yourselves, but think about how you're going to feel in 6 months when everyone is feeling better. You're going to be very upset at yourself.
I wish I had some sage advice for you, but all I can offer is my experience based on hindsight.
I bailed on a house in Omaha, and we lost $8000 when it finally sold, just 2 weeks short of the foreclosure. To this day I cringe when I think about the way we handled it, and how different our lives would be if we had just stuck it out in Nebraska.
Well, what's done is done.
Good luck! |
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goz1111
|
Just a little insight, but if the house has been for sale for three years, it is not priced right no matter what your Realtor says
NY Times article today stated, nationally over 10% of the homes in the USA have loan values greater then the vlaue of the propterty and this trend is going to continue for another 18 months,
so you may not have 3% equity no matter what your realtor beleives and may decline over the next 18 months |
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pjbthree
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Talk to your mortgage comapany first tosee if there is a way to do this without going through foreclosure |
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s and d e
|
instead of just walking away--which will destroy your credit--why don't you just drop the price significantly--i'll bet you find a buyer then. |
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Sharon F
|
Oh wow....sorry to hear that
I was going to suggest a short sale but you already said that wasn't working
Is there a way you and your spouse can perhaps make a sacrifice and move together where your B&B is? Maybe even live on premise?.... |
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Jenn
|
I went through this exact same thing in 2005. I wish I would have rented my house out but my agent never made that an option. Try that first if you cant find good renters then there may be no other option but to let it go. My health and stress level is so much better now. I miss my house so much but I just couldn't do it anymore and the lenders played games with my potential buyers. Then turned around and sold the loan to another lender. Good Luck |
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godged
|
I would suggest a few things:
First, expand the marketing net.
Ebay is an interesting option, but you have to pay for it. Craigslist is free, and your Realtor can put it on all sorts of different areas for those buyer's consideration.
Second: If it has been on the market 3 years, it is not priced right. Someone would have found it by now if it was well priced, and most people who scour the RE listings regulary now think it is a white elephant. Spruce it up any inexpensive way, put it on with a new (lower) price.
Rather than foreclose, which is a HORRIBLE decision that will undoubtedly cause you more stress than you have right now, consider leasing it. There are plenty of folks that want to try the B&B thing, but aren't sure if they can make a go of it. Having the option of leasing one will let them try it out. If they fail, hopefully the market will have improved by then and you can sell.
Don't foreclose.
Don't foreclose.
BTW, don't foreclose. |
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***ME***
 |
Contact your bank and discuss your options. Some banks will buy the house back. They may only give you part of what you owe. Then you will still need to pay for the rest of the loan. Check out your banks website and see if there is a section on it. There may be a few more options on there for you. |
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Rebbecca A
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If you walk away the lender will foreclose and you may not get nearly what it's worth. There is a program available that the government just started to help people save their homes. I'm sorry I cant remember what it is! Check out FHA and HUD loans on the web. Good luck. |
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