I'm helping a friend buy a home. I'm a existing estate agent.?
Question:
He met up with an matured high college friend who showed him a home even though my friend said he already had a indisputable estate agent. He wants to buy it but the other genuine estate agent now wishes half of the commission. What's the rule on this?
Answer:
As a licensed physical estate broker I can see that there are not satisfactory facts to give you a thorough answer! I am assuming that you are a tangible estate agent (the ? mark throws me sour a little). That situation should be covered under your state license law, or your physical estate firm's policies. If you did not have a buyer's agent contract near your friend, the commission is the new realtor's. BUT, if you are a realtor you should already know the answer to this quiz, especially if you are a broker. If you are a sales agent you should ask your broker. A national nonspecific forum is not the place to get an answer to a quiz that will cost you your license, or cost you money.
Good luck.
If yur friend already signed a contract with you it doesn't concern how he found the house. If you are the agent you get the commission. Call the other agent's broker. This will settle it adjectives.
since it was she who approved to show him the house without you (he should not hold gone into it without at most minuscule you and the agent talking on the phone something like who represents whom) tell him to transmit her that he will not buy the house unless you get remunerated and see where it go. i am sure she would settle for a quarter of the pie rather than zilch.
If your friend has a buyers agent contract near the other agent your friend is obligated to pay them, not you. In this luggage give up partly the commission and save your friend from the money he may be sued for. Also as an agent its pretty lame of you to steal other agents clients, infirm friend or not. They should have at most minuscule told the other agent they no longer needed their services. I don't know how long you have be in the business, but you wont later for long making enemies similar to this. Lay off others clients and dance get your own.
its adjectives about who signed a contract beside the purchaser, you or the other agent, dont let the other agent bully you, dont get the impression sorry for him either, thats bs
In California, the procurring agent get the commission. If you have a buyer's agreement, you will want to sue the buyer for the commission of the purchase of the home if the purchase does not transpire within your brokerage.
You necessitate to talk to your broker at this point.
Regards
Who do u contact surrounded by regard to unnecessary charges billed after move-out?
Question:
The complex we lived at charged for new toilets chairs new hearth rug and extra blinds, counter resurfacing some items were even planned on the lease papers we
Answer:
I do not know what state you live in, but the ordinary process is to do a walk through beside the manager in the past you surrender your door keys. They hold a check off chronicle and after the both of you have walk through the apartment, you sign the list stating that you agree near whatever is OK or not OK.
If you did not do a hike through with the manger, did you transport pictures of the conditions of the unit when you returned your key? If not, they you best bet is to talk to the supervisor and see what the disagreement is about.
Job problems. What should I do?
Question:
I accepted a leisure position on tuesday which I am supposed to start tomorrow, but another company that I've been wanting to work for vanished me a voicemail that they want to interview me as soon as possible. Problem is this part-time situation I took to have some income after inoperative for 5 months. Do I ditch the part-time career and hope that it works out good for this other company that will reimburse ALOT more and have benefits, or do I not risk it and merely go to the proletarian job because I enjoy it? I am so confused because I don't want to burn my bridges. It's taken me this long to find something and it's part-time beside no benefits...HELP
Answer:
The best time to look for a job is when you enjoy one. Accept the part-time position and diary your interview around your work schedule.
There's really no downside to doing it this road. If you're offered a position at the "Good" job, you newly quit the "Crappy" job. (No career is crappy. I'm only using that for hint purposes).
An added benefit is that you will go to your interview not "needing" a job--because you already own one. This will give you more confindence and you'll be dealing from a position of strength. Interviewers can SMELL desperation! They will use that as a tool to bring you on for smaller amount than what you're really worth.
Good luck!
do the part time see until you know for sure that you have a employment with the other company. usually after an interview...it is still a few weeks formerly you actually start the opportunity. you can always quit the slice time job when you find out roughly speaking the other one
I think you should walk on the interview. If it is the job you looked-for, has benefits, etc. afterwards you should try. A part-time mission is easily occupied by your existing company. It's the full-time salaried jobs that companies tend to frown upon when they lose an member of staff because it costs them more money to refill and train a contemporary person. If you can return with more money and benefits then absolutely go for it. But! Do not permit your right hand know what your departed hand is doing. In other words, don't tolerate your current job know that you are interviewing lacking being positively sure you have the mission at the other company. You never know. If you get the situation at the other company then your existing company may come stern and say "okay, what if we offered you more money" or "what if we offered...". I consider you should try. A job that pays more money, is full-time, and have benefits always comes first. Benefits are expensive and it's your strength we are talking just about. I think you should look into it but don't permit anyone know. That way, if the commission doesn't work out then you still hold your part-time living and life is jolly.
IF the part time opportunity conflicts with your possible interview after you will need to establish which is more important- do you need money so bleak that you will not be able to skulk and see if you can get the other assignment? Even if you cannot wait it is still a toss up, as missing the opportunity to get hold of the good capably paying job near benefits is worse than not having that part of the pack time job. Was the portion time job concrete to get? If it is freshly some general employment after you can get another following if it doesn't work out with the polite one, but one of those things about probability is they come so rarely and one of the biggest risks is living a riskless enthusiasm, so I would consider all the scenario and put my mind and effort to what I intend to do.
Absolutely verbs with the recreational job until you carry a firm offer from the other company. Of course you'd quit the unpaid job if you be offered a full-time position with benefits.
Unless you want to spend the rest of your go at the part time profession, you need to jump for the other interview. If this conflicts with the member time job, relay the part time position you can't work at that time.
This is an easy ask. You take the temp opportunity. It is there for you. As for the other career, get your interview and see what if anything they give. If they want you, tell them to confer you something in writing or within some way show you that they are serious. A temp employment is just that, temp. They can drop you an hour after you start and you can quit them lately as easy. Always generate sure that your permanent career is in the pod before you brand a decision. Don't verbs about your temp opportunity, they could care smaller quantity if you work one day or ten, they will tolerate you go when they own what they want from you and think nil of it.
How can you release the good point surrounded by your house?
Question:
If you own a house outright, but want to buy another house and let the existing one, how can you release the change in the first house to buy the second?
A mortgage of some munificent must exist, no?
Thanks
Answer:
open the door
Why not in recent times get a conventional mortgage for the second house?
Seems easier than realsing your equity to buy the other house.
First, It's always bugged me that ethnic group think within is "cash" in their house becuase they aren't within debt. It's like debt = common, owning it outright = a waste.
You can refinance the compensated off home to capture the cash out and buy the second home contained by cash, or you can come by a mortgage for the new house.
re-mortgage your first house and use that money to buy your unmarked house
You're probably talking something like a cash out refinance. You might want to be in motion to a bank or speak beside a real estate agent for the opportunity that will suit you better.
If you own the 1st house, free and clear and the second house is not mortgagable, then you may stipulation cash.
Sometimes, if both homes are inwardly a certain distance of respectively other and you have a mortgage on the first house, you can't smoothly get a mortgage on the second (depending on location)
Also, what type of financing does the second house allow? FHA, Convention or Cash Only.
A wall will want to know where most of the brass out money is going and some loans will actually write the checks for you.
Typically the guard will lend you 75% of the present value of your home. You can rob it in almost any dimensions (line of credit, loan, mortgage and some will even give you a visa card beside that limit).
I would suggest a line of credit on your existing home (assuming it covers the purchase price) as you can procure prime if your credit is good. A queue of credit is also far more flexible than a mortgage. You pay what you preference - as little as interest only up to the full balance. Mortgages (closed) own penalties for impulsive repayment. Also, the bank pays the costs.
Be thrifty when you speak to bankers. A lot of them are not qualified to give financial suggestion. Look for someone with recommendation and explain your situation.
Take out a Second Mortgage in the form of a Home Equity Line of Credit on your personal residence.
Look into what's available contained by the "Buy to Let" Mortgage deals.
I'm a 43 yr lately get busy I hold a home and my boyfriend have a home. Should we deal in one of our homes.?
Question:
Answer:
Why not sell both of them and start fresh next to one you both pick out together. That way here is no future issues of "his home "and "my home"
If you stay, write down a a piece of newspaper the pros and cons.
Which home has the most sq footage?
Which home have the lowest property taxes?
Which home can you afford?
Which home can you "grow in" down the road with a relations?
Which home is closer to work, schools, nearest and dearest etc?
Which home do you like the best?
If/when you go one of the homes, have the one whos home sold, put the money toward the principle to settle up off your home eariler - that instrument they feel a factor of the home, and there is no issue of his and mine. Or build a outside room, beside a sana, etc that you both can enjoyJust an idea.
Good luck.
Why not rent it out?
Only after the nuptials.
No, you should rent one of them out. Have someone else pay sour the mortgage. Get the house paid rotten.
That way incase something happen you will always own something to fall final on OR your children will have some place.
rent it out.
Sell it. Put the profit within savings or invest it and receive money with it.
At lowest possible wait until after the wedding ceremony has seasoned a year. Then deside what you want to do beside the extra one. Be very, outstandingly careful within renting out your home. The very worst tenant always are the extremely best looking/sounding ones at the start.
Maybe let your realtor do it for you. They will run credit checks and blind them for you.
Yep. His. Start thinking of all the reason your house is better to keep so you will win the argument when it arises.
DON'T DO A THING UNTIL YOU GUYS ARE LEGALLY HITCHED!! OTHERWISE YO MAY END UP AT JUDGE JUDY.
My rights as a tenant surrounded by Wisconsin?
Question:
I want to know about supporting tenant rights. Also, I would like to know what rights I hold if I have to break a lease.
Answer:
The best resource for any tenant questions/issues within WI is the Tenant Resource Center. Tenant Resource Center (TRC) offers free counseling for tenant and landlords interested in study more about their rental rights and responsibilities. Information on state and local rental law and regulations and lease screening services are available at TRC.
Phone (Inside Dane County):
(608) 257-0006
Walk-In: 1202 Williamson Street, Suite A
Hours: 9 AM - 6 PM, M-F
Toll-free Outside of Dane County:
(877) 238-RENT (7368)
Hours: 10 AM - 4 PM, M-F
Here ya go! Read this, it answers everything, and it's Wisconsin specific:
http://wsll.state.wi.us/topic/landlord.h...
try this: http://www.hud.gov/local/wi/renting/tena...
Call your local city antechamber and report the landlord. you can't stop paying the rent until you do. they will guide you through the rest base on the landlords response to the formal complaint.
If you are from Illinois, then you're going to reformatory!
At what heat must my innkeeper turn on the fry?
Question:
I live in an apartment complex...it is 42 degree F outside and still no heat.
Is near a temperature that they properly have to turn the boil on?
Answer:
It depends on the city. In NY the inside heat must be at least possible 55 degrees; contained by Chicago it's 65.
call your tenant. he may know.
Can someone present me the best step by step process of buying a home?
Question:
I was advise the first step is shop for a morgatge than look for the house...im confused
Answer:
You should visit http://www.mortgageawareness.com... , they hold free advice for First Time Home Buyers and it explains the difference between going through a sandbank rather a mortgage broker and vise versus. Check it out, it may aid you save some money.
You necessitate to "shop for a mortgage" first in writ to find out how much you can afford to spend on the home.
You DO need the mortgage first. Simply put, you won't be allowed to put contained by a offer on a house unless you enjoy a pre approval letter from a lender (in most cases-some states and situations are different). I can assist you with some resources on the home loan. Shoot me a email to msmith@premierloangroup.com, and I'll see what we can do!
Marty
Do Both
The loan company can help out in determining your budget
and the Realtor will minister to you find a property that meets your wishes >>> Both financial and the home itself.. area, location,style lot size etc...
if you're looking south of chicago agree to me know I'd be happy to assistance and can get you contained by touch with a lender
You should probably shop for a "buyers" material estate agent first. Especially if this is your first home. If they are a good agent they will sit down near you and explain the entire process. This Initial meeting" can take give or take a few an hour. They should be able to explain the answer to your question.
They should tell you the difference between a mortgage sponsor and mortgage broker, and explain different types of financing. ie. conventional, sub-prime and government loans. They should be capable of direct you to more than one place to shop for a mortgage.
A real estate agent should also know how to (if everything you tell them checks out) how much you may qualify for.
Pre-approval for a mortgage will put you contained by a far better position, should you find a house that you really like. Also it will give a hand you to look only at houses you qualify for, making the comparisons more similar to apple to apple.
Good luck!
Yes, the first step is to mortgage / lender shop. Go through several companies, find the best interest rates, monthly payments and closing costs before you desire on one lender. They'll ask you some questions give or take a few income, bills, and credit history and will give you a ballpark integer based on that. Ask for a pre-approval communiqu¨¦ once they decide, as some realtors / home owners will not even show you the home unless you've be pre-approved, showing proof that you have money to pay for your interest.
After you get your pre-approval, start shopping for properties that interest you. Carry a notebook next to you and write everything down about the houses you resembling, including contact information with realtors, owners, or attorneys handling the property. Take tours, belief them, ask questions, and afterwards compare them to find the best deal for your money and what suits your living style.
After you find one you close to, and taking all the above into consideration, place a bid near the owner. The price they are asking is usually negotiable, but it depends on what you are doing beside your loan and what the seller is prepared to do. Neither your lender, you, or the owner is willing to lose money. So, usually, the owner will require the full asking price if they are paying any portion of closing costs. It really depends on what you are paying out of pocket upfront, or at closing, to how much you can negotiate.
If the bid and discussions are accepted, finalize the paperwork and close the settlement. Make sure everything the owner said would be conveyed, or included, is in the contract. It can be complicated. Best of luck.
I only found a great book It was a great backing for me maybe also for you.
Starry, Check out Suzeorman.com, and click on the Resource Center. All you question should be answered. I don't know her or am I affiliated with her association. I just imagine she has obedient advise for anyone looking to buy a home especially first time home buyers. If you are contained by the S. Cal area I don`t know I can help you find a home.
Any suggestions on valid esate office contained by Georiga that doesnt charge glorious monthly fees?
Question:
I speak spanish and english fluently and have previous concrete estate experience.
Answer:
C-21 is always a right choice. They offer permissible update classes as soon as the laws redeploy and many other things that you obligation. While the split may seem giant be sure to negotiate them down the best that you can. Try for a graduating % down as you earn more and more. But most adjectives will start you over again at the first of the next year.
Very best of luck
Attention Mortgage Brokers, who can do this?
Question:
Looking to broker out this deal:
90% LTV
Stated Income
Under 6.5% interest rate
Credit mark 635
No PMI
No prepayment penalty
Property surrounded by Houston, Texas
10% to be paid by HELOC
Answer:
World will own a problem with this as it is a 100% CLTV. They will in general go 90% LTV near the buyer coming in near 10%. Now you throwing that it is a non-owner.
World will also be looking for reserves at least 2-3 months PITI.
Shaking my person in charge about this one FICO is below 650 and non-owner Naw.
Even if you turn sub-prime I/O with the requirements today you would still enjoy a bi problem.
I would suggest WA MU, but Downey Savings and World are your best bets and they would have a big problem near non-owner and seasoned reserves.
I hope this has be of some use to you, good luck.
"FIGHT ON"
Um frank you can do it. Your unmarked partner "world savings" will do that deal if the credit isnt too devastating bad. they right to be heard they wont go below 650, but it might be you can win it through. it will be an arm, take the cosi its a better index right immediately, do a first and a second and then you can do no prepay (no rebate) so no pmi...in a minute here is what you didnt tell, it is non owner settled right? Then pinnacle possibly (tristar) but the occupancy is the big buy and sell on this deal.
Stated income programs usually require a minimum rack up of 680 or over. good luck
Give me a telephone call sometime, I might be able to fiddle with this.
Buying a house contained by South Bay Califnornia?
Question:
I want to purchase a home in the South Bay (near ocean) surrounded by Southern California. I think prices of homes are coming downits my first house and I hold excellent credit. However, I'm looking to pay 10% to 12% lower than asking...what do you construe my chances are of getting something.
Answer:
I would ask for 30% and pilfer it at 20%.
There are a lot of relatives upside down or who unlocked there equity and can not provide, or there contained by a ARM loan and hurting bad but still can not supply since they just money interest.
Look for a home that was bought over six years ago, and put out several offer. there are like mad of people sweating it discouraging, and want to dump there home, but plentiful can not and they will foreclose some time soon.
Also check out this web site it recount how the made the housing bubble.
http://www.breakingbubble.com/index.htm...
Not really good. I contemplate it's a sellers bazaar, at least I hope so.
It depends on how motivated the hawker is. For example if they have already purchased another home and are paying two mortgages. Just try it the most they can right to be heard is no or they might try to negotiate. However, if this is the house of your dreams, I might not try to offer such a low price. You should also check to see how long the house have been on the open market.
y would u do that?
Living in Orange County I would focus that the market within the South Bay area is still strong although slowing a short time. See how long the home has be listed first. If the register is fairly topical then you will most imagined be turned down on your offer. I would hold your agent pull some comps from the recent past 1-3 months and see what has be selling and for how much.
Next, what is the condition of the property? Is it move in organized with conceivably only minimal work or does it obligation a lot of TLC? This would be a key part of any donate I would be putting in if this be for myself. Again, bounce this off your agent.
With the values within the LA area still staying technically strong (yes there own been drops but the values are still ok) I would surmise twice about coming surrounded by really low. You may get lucky but here is a better chance that the wholesaler will turn you down without so much as a counter contribute. Remember that 10% of the price of a home in the South Bay nouns is ALOT of money... $50,000+ most likely.
Last items... To increase your accident of being the buyer to go and get the property I would make sure that your financing is adjectives in writ. Have a pre-approval letter from your loan officer included near any offer you manufacture. If your coming in near cash consent to the sellers know as most those know that a buyer financing less than 100% is a better shot than someone who must do 100% financing. Also, if your given up the ghost with an agent all the same, get one. The peddler pays for their commission not you so it is free in your eyes.
Best of luck!
Kevin 866-562-6838
Kruorock@firstratelending.com
When i buy, i seldom use a realtor, but when i sell i other do. My opinion is look for for Dutch auction by owners initially.
Do your homework, know your market.
Line up your financing. your volunteer will be looked at much more seriously if you have a lenders epistle that states you are qualified for 447,000 as oppiosed to just makeing an present. incidently, the 447 could be about partly of what you will pay untiol you gety into torrance or carson, afterwards the discount won't be much.
If you don't ask the answer is always no. expect a great deal of rejections, but it only take 1 yes. a recent court decision forces the local definite estate association to sell their forms to the public.
the purveyor decides on the escrow company contained by northern cal, and it has be 30 years since i did any business in socal, but belioeve if you are going fsbo, if you own a title/escrow company lined up, it could be to your control.
shop a couple. you'll find that many escrow agents don't resembling handling fsbo's.
Listen to Drew...He is a wise manPEOPLE ARE GETTING @#%$ right in a minute. If you wait until Feb/Mar 2007, you will find so heaps homes at 25 to 30% less than what they are immediately, you will be stressed from having to pick one. I would in reality wait until Summer of 2007 to buy, because even at 25% to 30% past its sell-by date, you do not want to buy only to find out that you could of get something for 40 to 50% off. The number of nation I know (I live in Playa Del Rey) who are have ISSUES with their mortgages is INSANE. We are chitchat ARMs that have gone up 1,000 to 1,750 contained by one month. You will not be buying from the seller come June, it will be from the edge trying to make pay for whatever they loaned.
~BD
you will capture it just build sure you show off you body.
Need give support to on an out of state loan not licenced within that state?
Question:
Answer:
I may be able to relief, depending on the state. Shoot me an email to msmith@premierloangroup.com, and I'll see what I can do!
Marty
what state?
How Do Real Estate Brokers List Reo (Foreclosure) Properties?
Question:
I AM NEWLY LICENESED REALTOR AND I WOULD LIKE TO KNOW WHAT PROCEDURES ARE NECCESSARY TO BEGIN LISTING REO PROPERTIES. IS THERE A LIST THAT I NEED TO ADD MY NAME OR DO I HAVE TO CONTACT BANKS IN REGARDS TO MY INQUIRY? NOT SURE...
THANKS
Answer:
Your Broker will explain all to you. But surrounded by most areas the real estate company(s) that take the REOs are long time tried and true professionals. It's is pretty difficult to compete with them when you are unmarked. While REOs are a lot of business coming into the bazaar, it is pretty well tied up. You will be capable of graduate to that sort of business activity once you own a few years under your belt.
Very best of luck
I don't know how you would stir about that. I suggest you be a buyers broker. Join a local REI(Real Estate Investors) group and find some Investors that want to spawn offers on properties. Another means of access would be to do the work on the MLS to find REOs that are very biddable deals. Then email them to your investors. Before signing them up on your mail list, manufacture sure that they will use you as their buyers broker. I have several Realtors that convey me properties all the time, and yes if they bring me a do business I use them as my Realtor even though a family extremity is a Broker. They not only bring me REOs but motivated seller and we make tons offers. This is also a righteous way to cram how to do some of these yourself, which is way better than anyone just a Realtor, according to the ridge account of the agent contained by my family.
Does any one know where on earth to find a website to hold out a house for Dutch auction next to flawless results?
Question:
Answer:
Every real estate company and nearly every material estate agent will tout the benefits of using their web site. We're no different. We approaching to think we're the best, but to be honest, any of the trellis sites are good because once you're on one, you'll be on adjectives of the others. Most real estate net sites submit listings to realtor.com and to their respective Multiple Listing Services. Once you're on the MLS, any agent belonging to it (our serves over 20,000 agents) can see your property and often agents christen other agents to advertise their listings on other pattern sites. If you're selling by owner (and only the saavy few should attempt this) consider FSBO.com or forsalebyowner.com as the two through players. Finally beware of companies that offer to put your home on the MLS or Internet for a excise. You will often bring to a close up paying more for this single service because of misleading legal documentation or canon suits than you would paying a full real estate commission. As a full-service Realtor, I accept to a bias here so I encourage you to telephone or email your area's judicial court to see how may of the real estate-related lawsuits result from these types of service companie's deeds. In 2005 75% of all concrete estate related law suits within our state were from these type of companies.
under the weather tell u if you answer my q's
spicycheesepizza10
It depends on where on earth you are looking for the house. Most local real estate agencies enjoy websites.
www.forsalebyowner.com should be the biggest site. Get their flat rate mls package if you want to market quicker. It is worth a few hundred bucks
Unless you know what every piece of paper surrounded by that 2 inch stack of closing documents means, you're better stale getting a real estate agent. They are in good health worth thier fees in that they average a difficult closing price than a for-sale-by-owner contract does. They basically work for free from your perspective. They will vend it quicker, too.
Unless you're in the business, carry an agent.
Real Estate Agents do get the best results. That is your best resort.
Try Keller Williams Realty. They should be in your nouns, I found them to have the best results here within the Northwest.
Can anyone recommend a dutiful resource to locate short occupancy rentals surrounded by Minneapolis?
Question:
Answer:
the best would be craigslist.com or startribune.com good luck
Check near a local realtor. They can provide you a list of homes for rent on the bazaar now and if none are available for a short occupancy lease, then they may know how to direct you to someone who may consider a short term lease. If you involve help to find a local realtor simply let me know.