 Can I terminate a contract with a realtor? |
| We were basically suckered into signing a 6-month contract with our realtor to sell our home. After only three months, we are very unhappy with him. He does not follow up with us, contstantly tells ... |
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 Who should I sue, Landord or Contractor, for Contractor negligence? |
| Recently, my hot water heater went out in the apartment that I'm renting. Shortly after (2 hours) the contractor the landlord hired to replace the water heater, my apartment caught fire due to ... |
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 Do you think it's weird to have a kitchen on the second floor instead of the first? |
| A house that a friend of mine used to live in is for sale and my friend and i want to buy it. we want to remodle it and this house is a duplex, but if we buy the whole thing we can turn it into a ... |
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 How do get rid of someone that is living in your apartment that does not want to leave? |
| I have friend that wants me to move in her apartment but she has 17 year old girl currently staying there that does not want to leave claiming "squatters rights" and is not even paying her ... |
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 What advice would you give to a first time buyer? |
| Any tips or tricks, things to aviod, insurance to take out, was to minimise costs, what sort of mortgage to get. Any and all advice for a first time property buyer would be very ... |
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 Should I break my lease? |
| My landlord just raised our rent from 450.00/month too 515/month. my fiance and I cannot afford it right now and we are in the hole with some other things about 300.00, I do not see us making this ... |
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 Is offering 200,000 on a 249,000 dollar home insulting? |
| i asked a similiar question once but didnt really get any answers on how much is insulting. I picked that amount because we can easily afford that but 215,000 is pretty much the most we can safely ... |
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 Our Fridge in our Apartment brok and the food in the freezer and fridge is no good, Who is responsible??? |
| The fridge does not get cold and everything is defrosting, I called maintenance at 9:00 am they say they will be there by 4pm, everything is thawing, Is the apartment responsible to reimburse me for ... |
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 Can a Landlord come in and out of your house without warning? |
| I live in Texas and I have a problem with my landlord coming in my property without any notification. It is usually during the day,but I feel as if it is an invasion of my privacy. He rings the ... |
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 My home is on the market, it's been 4 months and it hasn't sold. A high producing Realtor said it doesnt pop |
| She said that it is the unfinished basement and the bleach accident, my daughter just had, on the steps. I will fix the carpet, it is only 5 to 6 hundred dollars to replace, but the finish the ... |
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 A 100% mortgage means you get your entire cost of house covered by a mortgage. What about the Deposit? |
I was having this debate with friends... most mortgages are NOT 100%, in that they do not cover the entire cost of the house.
We were wondering about these rare mortgages that DO cover ... |
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 Should my landlord be giving me reciepts for paying rent in cash? |
| i have an assured shorthold tenancy agreement and have been told that im not entitled to a rent book, because i pay monthly. But i would have thought that my landlord obligated to write out a receipt ... |
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 Cheapest place in the UK to buy a house? |
Here in the South Wales Valleys we bought our 3 bedroom victorian terrace for £72,000.
Its very "dated" as the snobby property types like to say and does need quite a bit of ... |
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 Buying land on ebay? |
| ive seen somebody selling a small plot of land on ebay for quite cheap, is there anything you should look out for when you see these cheap plots on ebay?... |
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 What do estate agents do for their money? |
I have a property going for sale and received 3 valuations. Each Estate Agent quoted fees to market my house of around £1800 (house valued near £110k)
They take some pictures and post them on ... |
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wandering | With a low income like 27,000 is it smart to buy a house or continue renting? |
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lexi290
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if you can find a home in your price range that will appreciate in value, i think putting $$$ towards equity rather than just rent is a good idea - but make sure it's a home that will grow in value - and don't do an interest only mortgage unless you're disciplined enough to pay more than what's due each month |
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daretracek
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If you get approved for a mortgage you should buy. Mortgage is cheaper where I live than the rent would be. When renting your money is going to something that will never be yours. Good luck. |
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C Brent
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I'm going to give you an answer that no one else will, do neither.
Pretty crazy huh? Here is what you do. Find someone that is willing to lease option you a house and get them to give you a 25% rent credit towards the purchase. Try to get it for at least 5 years. If you are ready to buy, I'm going to assume (I know) you have at least 5,000$ for closing costs, etc. Well, you could buy an option to purchase with that same 5000$ and probably come out way ahead. With that assumption let me show you some math.
If you bought a 100,000$ house, you would use that 5K for closing costs and get nothing, and still owe 100,000 after closing. So let's say your actual payments were 700$ a month, you would get about 100$ a month of the equity, so you might end up with 1200$ at the end of a year.
Now, if you got 25% of the rent credit against your costs....25% X 700 = 175$ per month off, at the end of the year, you would have gotten 2100$ rent credit. If you did that for 3 years, you would have 6300$ off of the price of the house, 2700$ more than if you straight purchased it. PLUS, you get to live there and have the owner do the fixing up and you get to make sure it is where you want to live without being tied to the neighborhood too much.
The more you can talk the owner down on the option, the better, and if you can get him to put at least 1/2 of the option payment then you'd be in even better shape.
Now, you don't get the same breaks on taxes with lease/option the way you do with owning...but at the 27,000$ income bracket, I think this would be a way for you to get into a house and on the path to owning it much faster.
Good luck. And alway do your due diligence, good mechanical inspection should always be done first, and if you are ever wary of the person you are doing business with, get a good lawyer to look over the contract. If they aren't interested in you seeing the contract, don't do business with them. |
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extracrispy2005
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if ur credit ,downpayment, is good ....the real estate agents will work hard to accomodate you.There IS a FORMULA that they use to
qualifify u .Start small and with time u can grow.Once u establish equity u can upgrade.Good luck !!!!!There is no comparason
between owning and renting!!Go for it!!!! |
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terri_d461
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That's tough to answer. Depends on what you're current bills are and how much your debt is taking out of your paycheck. Real estate can be a great investment, but look hard and carefully when committing to something that can take a huge toll on your credit rating should you foreclose.
Great book to consider buying is Home Buying for Dummies. I think that's the name of it. Real easy read with a lot of good pointers of what to consider when buying and when it's not right to buy. |
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ravebyron
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Even if you made a lot more money this year, it is best to continue renting as home prices across the country are high, interest rates continue to move up, and too many homes are on the market. Too many are selling, too many have high adjustable rate mortgages, at a time when wages are falling, as is the value of the dollar. If your local area is anything like mine you may be seeing 3 or more homes for sale on any given street. If this is the case, smile--because your ability to buy will directly correspond to the number of homes the bank gets stuck with when the defaults come raining down. |
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lleah
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it is always better to buy than rent if you have good enough credit you should try to buy |
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Andi
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From experience, if you have the money for the down payment, GO FOR IT! Renting a house will be the same payment as your house payment if you buy. Don't continue to throw youre money away by renting. Trust me, get past the down payment and your house payment will be just like paying rent. Consolidate your property tax and renter's insurance into your payment and you will have just one payment for all three. It will be worth it in the long run. You are just throwing money away by renting. Don't wait too long because the housing market, the way it's going, interest rates are climbing. Now is the time, don't wait until interest rates make it too difficult to buy. Good luck! |
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colinsmom
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With renting you are not making an investment. You are throwing away money on which you could be saving on a down payment. are you renting a apt or house? See if you can find a house that has the option to buy. That would be a great thing to do. Because you are investing $ in the house and with the apt you are not.
Right now is a great time to find a house for rent, espically with your type of income. Also start if you haven't save some money here from each pay check. That could be used as a down payment on your rental house. Good luck! |
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janeroth7
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Try and start a business from home computer. You need to amke more money. I does depend on where you live. |
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cafe_blue_note
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By all means buy, click on my profile, and E Mail me, I.M me or call me on my cell @ (951)660-9580, I am a Loan officer, I can help you get Preapproved so you will know how much home you can buy. also by doing this realtors will see you as a serious buyer. My company CITINET, is a direct lender with 150 investors, " so I can shop for the best loan for your needs. We do both A paper and sub prime loans, and specialize in credit repair. So E Mail me, I.M me, or give me a call and let's see what i can do. |
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satarnag
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Go to your local city hall, they have affordable real property for sale geared towards people with low income. You mighthave to wait a couple of years to get placed into a home purchase opportunity. Use that time to fix your credit. City hall might even have grants so that you can purchase these homes. Then call Fannie Mae and find a lender near you who does low income Fannie Mae loans. You can also go online:
http://www.fanniemae.com
Click on "find a mortgage", then on "mortgage solutions", then on "by borrower needs" and you are shown a great many programs for low income people. Not so many brokers know about this, so make sure you find a list of lenders from the website or by calling, that know about and do these programs.
It's amazing what the government does to help people who help themselves.
Regards |
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blue_munkie
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Two things, (1) Do you have a down payment? and (2) as long as you understand that owning a home is more than just the mortgage. There are repairs and property tax... and so many misc bills to pay... |
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so many to choose
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I think its wise to try to put your income towards a new house. I make 30g's a year and i'm 23 and I was told I didn't have that good of credit to get a loan and buy a house. I rent an apartment for $785 each month and not a day goes by that I wish that much money a month could be going towards a home I could at least call my own. I've been there for two and a half years now because I can't get a house and thats like $23,550 i've spent in rent that could've went towards a house I could've actually kept. It makes me mad but I guess credit is the key. So if you got it, go buy a house quick. |
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NewChallenges
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You are making a investment decision. As such you need to alot of research. If you can afford it most likely it's a good idea. In most areas of the country it is proably more expensive to buy than rent. If you can save the difference to pay cash for cars, pay of credit cards, you may be better off renting. Housing prices will start falling proably in the fall this is due to extremely high inventories in most areas. Talk to a local real estate appraiser. If you are going to buy definitely consult with a appraiser. |
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Ren
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It's always a good idea to buy, if you can afford to. |
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Keller Williams Realtor
|
http://www.pauld-kw.com
Need a good Realtor?
If In Alabama - e-mail me
If not in Alabama - I can still recommend an experienced Realtor from your area that will give you OUTSTANDING service! I work with a network of Realtors across North Amercia.
http://www.pauld-kw.com |
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