 Why do real estate agents on the buyer's side refuse to work with for-sale-by-owners? |
Additional Details
In this scenario, I would be the owner selling the home myself. And I would be offering 2.5% commission to the broker/agent that brings me the buyer that ends up ... |
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 Is my landlord legally obligated to reimburse money I paid out for pest control? |
| The landlady is a big animal lover and insisted that we use harm free traps. We tried this and it wasn't working so had a free survey carried out which confirmed there was an infestation and ... |
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 First time condo buyer...better to get 5 year arm or 20 year mortgage? |
| Buying first condo...broker said it's better to get 5 year arm with nothing down, than 20-30 year mortage with $15,000 down. This, on a $170,000 condo. Is he right?... |
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 Waiving an inspection and appraisel speed up the closing process? |
| If you waive inspections and appraisels will the it spped up the closing process for homes?... |
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 Can i sue a slum landlord. for $900,000? |
| My landlord is a slum lord she do not take care of the apartment . in 2006 i call the housing inspector he fail the apartment.the landlord still fail to fix it. the next week the ceiling caving on ... |
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| Can I be at home while my Realtor hosts an open house? |
| I am worried about people stealing my things or casing my house to come back later and break in, and I don't want my neighbors going through my home for no reason. I also have light colored ... |
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 Summons to court for debts I did not make!? |
Has any of you good folks had a similar experience?
I was awakened today by the doorbell ringing, when I went down I saw a car driving away and a pile of papers attached to my front door. When I... |
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 I just moved into my rental house and on the 2nd night I saw a roach!!!Can I break my lease? |
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 Its first time Im going to be showing potential buyer some homes, What should I do to prepare? |
Additional Details
I realize that I am selling a home and what not, I should have clarified. Like what should I put in the Buyers packet, should i get the guy under contract, what ... |
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 How do I remove one person from a mortgage, and add another? |
| My boyfriend and I are getting married in a year. He and his brother own a house. His brother wants to move, and we want to stay. How do I get the brother off the house and pay him his share of ... |
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 Called the landlord but still I have no heat, what can I do? |
| Let me start out by saying I live in the state of Missouri, I know laws can vary state by state. Also I'm in no way wanting to screw my landlord over, I just want to do whats fair and have him ... |
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 Never Signed a Lease ! Never Moved In !? |
| New Hampshire RE Rental question? I placed a $200 deposit for an apartment. The landlord and I could not find time to meet to sign the lease. He dropped the keys and lease at my current apartment. I ... |
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 Looking for grants for first time homebuyers? |
| I am looking at grants to help me purchase my first house and was wondering if anyone has herd of this site FreeGrantSearch.com? I go to it and they say that x amount of dollars is available in my ... |
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 Is it legal for a landlord to demand to be added to your contents insurance policy as an interested party? |
| My landlord is telling me that she needs to be added to me & my wife's contents insurance policy as an "interested party". I have serious doubts over this as I don't know if ... |
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 Should I get an FHA loan? |
| My credit score is about a 690. I can afford about a 10% down payment. My question is, should I get the FHA loan, or should I go with a coventional loan? Either way, I would like to do a 30 year ... |
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 What exactly is Payoff balance for a mortgage? |
| Specifically i would like to know why it is different than the principle balance, i can only expect it will be higher than the principle balance? But generally speaking how much higher? I know i ... |
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CuteSexy | Why do lenders always consider only 75% of your rental income when calculating your monthly income? |
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mrdankeschoen
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Rental Income is not always counted as 75%. Here is why it is calculated that way and when other methods are used.
--Why?--
When you rent a home it is possible that there may be times when you do not have a tenant. Anyone who has tenants also knows things break in a rental home. The 75% rule is a conservative number accounting for these costs and breaks in your revenue.
--Other Calculations--
If you have been renting property consistently for 2 full years, and can verify the income with your past 2 years tax returns, most lenders will use the adjusted gross income from the tax return as your income from the rental property.
Your other option is to state your income as long as it is in line with your standard employment.
~Danke Schoen
MrDankeSchoen@yahoo.com |
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Racer X
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Rental income is market dependent, so it could change at anytime. Plus, the rental may be vacant for several months, therefore you'd only realize 70% - 80% of the annual revenue possible from the unit. |
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dawn18417
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because there will be times when your apartment is not rented out.Suppose your renter moves out now you have to paint the walls and install new carpet and find another qualified renter.The banks are doing to protect both of you.Would you want every dollar of rent to go to the bank and not have enough for maintenance? |
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FreeMedicalcamps.com
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You may not have a renter for some time.
. |
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CAadvisor
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maybe it is a safety margin taking into consideration that your rental may not be rented 100% of the time. |
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Nicholas M
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it's a assumed vacancy rate since most homes rented out aren't always occupied by a tenant or a tenant may skip rent. |
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Du Hast mich?
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because 25% of that income should be going into an account reserved for repairs on the property. It's considered a maintenance deposit. |
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business creature
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because rental income is considered secondery income. primary would be work related income. |
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awhisper
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It depends on the lender. Some do it because the rental income has been received less than 1yr. |
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