 What should I counter-offer on my house? |
My house was on the market for $330K, and I recently reduced the price to $320K.... I have received an offer of $290K.
That's pretty low, but how would you Play out the negotiations? W... |
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 I have been renting a property and recently recieved a letter from bailiffs warning me to vacate in 7 days? |
Having phoned they've said its due to the landlord having not paid his mortgage. The landlord had said to ignore the letter and is demanding his rent. I've no money and no where to go.
... |
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 What actions can I take against my formal apartment manager for calling me a whore? |
| When my formal managers tried to kick me out I fought the case on the grounds of discriminatory eviction. We settled and I moved out. When I went to get the last of my belongings and to clean the ... |
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 Isn't it my right as a renter to have until the 5th of every month to pay rent without receiving a late fee? |
| I am in Ohio and I thought that it was a state law that renters have until the fifth of every month to pay rent without getting a late fee. But my idiot landlord just sent out a letter that said any ... |
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 Can landlord have people viewing our home, after we have given our 1 months notice in? |
| Considering that we are obviously packing and want to clean the general mess, it seems like it might be him just wanting to see how the state is, he is an awkward landlord, one of the reasons why we ... |
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 Mortgages..is it always this stressful and long drawn out experience? |
| I would like to know other peoples stories. We had our first offer fall through before we even heard if our mortgage application was accepted. We had been accepted in principle but seems that means ... |
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 Where do you live?Do you own the house/flat? |
| I live in the house of my mom( it is inherited by her parents), we sold our apartment after my dad's death, but we also have one more apartment in the same building and a country house, which we ... |
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 Ex-landlord withholding deposit? |
| I moved to another state, I was assured that my security deposit would be mailed to me, now I can't even get her to return phone calls. The apartment was left in better shape than when I moved ... |
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 I have been left a half share in a house. the co owner wants to rent it out but i want to sell it.? |
| can i insist the house be sold? i am determined not to co-own a house with this person! on the will it said assets to be sold and split but it also said 'full power to postpone doing so' as ... |
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| The Bank Wants to Take My house? |
Im Broke and Poor and the bank wants to take my money, their rude people and im thinking of burning it down and fleeing to canada, because i cant stand poeople takign my house.
help?... |
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 What happens to the house after my dad dies? |
my dad passed away and the mortgage is in his name, what will happen to the house now,Will it go to my mother ?
... |
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 Any advice on selling a home "for sale by owner"? |
| It is a pretty new house (2 years old) which I ended up with in a divorce settlement. There are also a record number of homes for sale in Lincoln right now.... |
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 Somebody told me that real estate agents driving expensive cars have better chance at selling real estate. Is |
| Somebody told me that real estate agents driving expensive cars have better chance at selling real estate. Is this true? Is it necessary to drive an expensive car to get a better chance at getting ... |
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 I have given my 30 day notice and the landlord has now started entering my aprtement w/o notice, what can I do |
| I gave my notice Monday and this yesterday we noticed that someone (the handyman I'm sure) has been entering our apartment without notice. By law here in CA they need to give us 48 hours notice (... |
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| We are buying a house from a friend and just found out it is going into foreclosure? |
| A friend of ours decided his house was to much for him since he was divorcing his wife so my husband and I moved into the house and told him as soon as the divorce was final we would buy it. We gave ... |
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 Are you for or against public housing? |
| Serious answers only. Do you agree with housing assistance with low income residents? Should drug testing be mandatory? It's a big issue in New Orleans.... |
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 Eviction???? |
| My girlfriend is going to be evicted in about a week if we can not come up with the money for past due rent. Is there a legal amount of time that the landlord is supposed to wait on payment before ... |
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 What state are you from? How do you like it there? What are the pros and cons? |
| Is fresh produce and meat available? My husband and I are trying to figure out where to move after his enlistment. We've been to Georgia, SC, and Missouri. We had a hard time finding pork that ... |
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 In England, who's responsibility is it to inform the council that a property is being rented out to students? |
Is it the land lord or the tennants?
I'm asking this because students don't have to pay council tax but I don't know if my future housemates and I have a responsibility to inform ... |
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bopbo | Our real estate agent said we need 5 grand to "hold" a property that we are interested in, What is this? |
He said we would get it back at closing. We arranged for 100%+ financing with our lender, so what would this 5 grand really be for? |
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hithere2ya
 |
Is this a "new" construction house? If so and you are making custom changes that is why. It keeps your interest in the property moving to close. And some changes are so specific that likely no other buyer will want them, thus the seller incurs more expense because of it. As for a typical house, usually what ever you want to put down is what you do.
The risk is that if you put a large sum down and then fail to close because you decide you like another house better and break the contract you forfeit the earnest money. $500.00 usually is fine, unless you are low balling a property in which case you may need to impress the seller with your deposit. Also in a situation where you really want a home and are bidding a larger down will get the seller attention, even if the other offer is slightly greater.
So you put down the deposit, at closing if your deposit is excess to the total needed to buy and close it will be returned to you there. |
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theshadow01
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The request for earnest money has come from the seller. There should be a clause in the contract that says if the house fails inspection you can get the money back, but if you walk away for any other reason the sellers can keep it. This protects the sellers from buyers who find a house they like better a few weeks after they have stopped showing the house or have turned down other offers.
A typical amount is 1% of the purchase price of the home. You can counter that $5000 request, but your agent has to present that in writing to the sellers agent. That amount will be applied at closing to fees. |
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Karen R
 |
He's talking about earnest money. At closing it will be applied toward your closing costs and prepaids due since you are getting 100% financing. |
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L J
 |
Ask your mortgage broker. You will probably get this back after closing. |
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khcs89120
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Not an expert, but my real estate agent asked me to to put down $3000 as a show of good faith in my offer on the house I own. The $3000 went towards the deal. I guess from the Owner's point of view, they don't want to take their property off the market unless they see that you are serious. Your not serious until you put down some money. If I had backed out of the deal, I think I would have lost the $3k |
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newmexicorealestateforms
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Any time you tender an offer in where you will be providing a certain amount of money to be escrowed into the trust account of the licensee or of the lender or title company; the offer to purchase contract must be specific in the identification of what that money is for (how it will be or not be applied to the purchase), who gets it, and how you can get it back or loose it.
Your answer lies in reviewing the offer to purchase agreement with your licensee, prior to signing and giving the money, as it relates to the amount of money they are asking you to tender with the offer. Have the licensee show you. |
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norsmen
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if you agree to buy the then back out you loose the money. it is a safety for the seller |
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Mike S
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It's called earnest money, and it's a bunch of baloney. He's just trying to get as much as he can... afterall, if you violate the contract, he gets to keep that earnest money. Putting a $1000 for earnest money is plenty... and at least in Illinois, if he refuses to do it, he's breaking the law. I know... I worked real estate. |
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BrokenRomeo
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Depending on where you live I won't even think of buying a house in todays market. The price of houses is falling you are better off waiting a year or two. Check these out..
http://www.foxnews.com/story/0,2933,187831,00.html?sPage=fnc.business/realestate
http://money.cnn.com/2006/08/24/news/economy/newhomes/index.htm
http://housingpanic.blogspot.com/
http://housing-watch.com/home.aspx?d=30 |
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bryj212
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It is a good faith deposit. It means that you want to buy and are willing to put down some money to hold the property. If you back out, you will not get your deposit back. You will not "get the money back" if you buy. You will get a 5000 dollar credit toward your purchase price.
Here is the kicker, a good faith deposit can be any amount. It can be a dollar. Your agent wants enough money for a deposit to scare you into buying if you decide to not buy. It is also not required. If the property is a popular site and you do want it, you may want to put down the deposit. If the property is not the property of your dreams or you just don't want to put that much down, DON"T do it!
All your agent wants is a guaranteed payoff for HIM. If you back out, he gets your 5 grand. If you buy the house, he gets his commission. Remember: It is YOUR money. He is working for YOU. If you are uncomfortable in any way, Pass. Another house will come along. If he said he NEEDS a good faith deposit, offer him a dollar for the deposit. Tell him if it is not enough then the deal is off. He will relent because he then faces the risk of losing his commission. Don't let ANYONE force your decision.
Good luck. |
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old_woman_84
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It is a "good faith" measure or "security" measure. This --sort of--tells the buyer that you are interested.You are not going to hand over $5000 and walk away. Otherwise, you could say "Yes, I want this house" and 1 year later the seller has not heard from you. This put him at a disadvantage. It is put into the purchase price. |
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mel
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If it's your deposit to the escrow company, it doesn't have to be 5000. I just sold my house and negotiated in the offer for the buyer to put 1000 down which will then be applied to closing costs at close |
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Misty T
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I think it's earnest money. You put money down so that the sellers don't take another offer. Essentially, you are putting a deposit down to keep the house from getting sold to someone else while you get everything in line. However, if you change your mind, you would lose that money. |
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gift_of_the_dragon
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1) A lie.
2) "Good Faith" Money. |
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