The Real Estate Advocate, Reapamericia.com?
Hi, has anyone hear or had any experiences next to The Real Estate Advocate, a referral service out of Denver. They claim they will provide sales lead for 20% of the agent’s commission.The web site is www.Reapamerica.comMichelleHarrisHomes.com
Answers: Are you sure of the spelling . I see Ripamerica.com. How can a small town essential the mountains have anything to do next to the population centers of America. They can afford an address in Chicago and live surrounded by Colorado. Today the buyers are few and already burnt. Dont you love the art of selling.
Real Estate Contracts?
I have a contract to deal in my home. The buyer's $5,000.00 earnest money check has bounced, they enjoy failed to bump into the deadline for scheduling the home inspection they wanted, and they enjoy failed to provide any proof of even attempting to take financing within the seven daylight period that the contract states. If they trade name good on the bounced check, aren't these other two issues null and null and void since they missed the deadlines? Even though they enjoy a "contingent upon financing" clause, they marked "brass sale" on the contract. Can I sue to force them to close?Answers: the buyer has breached the contract. you would be capable of keep the earnest money check if it be worth anything...time to change the status put money on to 'active' and get more offer.
you cant sue them to force them to close if the contract is contingent upon financing that they are unable to secure, but you could sue them for the earnest money (although it would probably be more trouble than its worth). for all intents and purposes the contract is in a minute void.
(the 'lolly sale' on the contract just funds that the buyer is bringing cash - any cash or a loan - to you, fairly than an 'owner financed' situation).
Bounced E.M. check - breach of contract.
Deadline for inspection past - they hold by their actions contracted they want no inspection.
Past 7 day deadline to build application for mortgage.
breach of contract.
The way I see it you hold no contract.
If you wish to verbs have your Realtor contact the buyer to correct these breaches. If you do not longing to continue, convey notice of "breach" of contract to these citizens and let them know their contract be not consummated due to the bounced E.M. check and find a new buyer
Wow, are here no Realtors involved here? That is a direct misrepresentation right in the contract (contingent on financing, but paying lolly - which is it?)
You can't sue them for specific performance since your damages are within the form of cash. You be expecting a check (one that won't bounce) for the amount that you contracted with them. You can sue them for the amount set forth surrounded by your contract after the anticipated settlement date on the contract.
Since the earnest money deposit (EMD) bounced, that would send up instant red flags. Your realtor should have be on the phone with their agent the second this happen.
Make sure they make devout on the EMD, then rescind the contract for their non-compliance. Take a trip somewhere nice.
expire this now and more on. DO NOT WASTE YOUR TIME WITH THIS TRASH.
Tell you agent that you want the contract declaried null and invalid.
Since the check bounced, there is no contract.
Since the
How much is too much for a home?
Answers: It depends on where you live and what your income is. Seattle has a boom market because prices are low and good high tech jobs are available.
In California the market is different depending where you live. I sold a 4 bedroom two story 2400 sq ft. home for 565.00 In Corona in a gated and guarded community. It had lots of amenities. It was next to two 18 hole golf courses and close as you could get to both Orange county and Chino Hills.
I sold a two bedroom condo with 1300 sq ft. in West LA in a fair neighborhood with no real views. It was a nice tri-level with a great location to UCLA. It sold for 667,000.00 If it had been that same house in that area with those amenities it would have been over 1.8 million. So location is everything.
On a personal basis I would advise putting 20% down and trying to buy a home for 30% below market value. Even 20% below is good. This way you have a hedge against the prices dropping and you will have equity. When prices rise again you will have a large gain in your equity yet you will never loose money.
I bought a home in Fullerton a real fixer but livable. They wanted 265,000 back in 1990. I got it with buy downs and money back for 198,000. It never lost a penny even in 1995 when prices bottomed out it was worth 210,000. Today it's worth over 650,000.
Unfortunately my ex wife owns it and got to make most of the money. Ce` Le Vi`e.
Don't put yourself in a credit squeeze. The lender will figure it out for you because in this market they are not willing to make stupid loans. Do a work sheet and see what you will have left after your house payment. There are loans where you can beat the principal. Remember all loans are the interest plus the charges . That equals the APR. So if you are paying 10,000 dollars for the loan with charges and points that is added into the loan and your payment. If you can pay that upfront then do that. Be careful and look at every cost. A lender should only make 1 point to 1.5 points unless you are buying the loan down to get a lower rate. If so be sure that is what is happening. Be ware of junk charges. wire fees are usually 25 to 35 dollars each depending on your bank. Home inspection you pay out of pocket unless you are buying a relo home then they pay for it. Look at what the lender is kicking back to the loan broker. This should allow you to pay less to the lender for the loan.
Remember the 6% or 7% you are paying is compounded daily! This is why you pay your credit cards off first rather then save in a money market account. 18% compounded daily is way more then 2% compounded monthly.
Example: Bob sells 1 car at 10,000 dollars every week. That is 40,000 dollars a month. Jacob sells 7 cars every week at 5000.00 dollars. That equals 140,000 dollars.
Jacobs yield is 100K more then Bob. Jacob is compounding daily.
When you take a loan out your interest is compounded daily.
There are loans designed to beat the principal. They have higher interest rates but because they attack the compounding by months you could pay your home off in 14 years on a 30 year loan. You have to have great credit with a FICOS score over 740.
Just use your brain. Your Realtor will give you a CMA for free.
Look at how long some of the homes have been on the market before they finally sold. Also look at what people are asking. So you want to see solds and actives and pending homes if there are any.
I agree with Leslie, but also add: more than the house is worth in the marketplace.
Check out other homes, compare prices and decide if it's the right price.
Figure a long term fixed interest loan, add in the property taxes, the house insurance, maintenance on the house, electricity bill, heating bill, unexpected repairs, like roof and furnace and air and plumbing add in new appliances at some point and then figure in inflation for the aforementioned, add it all together on a monthly basis and decide for yourself. P.S. Don't forget transportation and Pride of ownership Perks!