Archive for October 2009



How can we make a quick sale for our home? Should we use a realtor or for sale by owner?

October 31st, 2009 — 03:28 am

tctc asked:

Our home has been on the market for 7 months now. At first we had an agent from Remax for six months and now we signed with an agent from Exit. We have had no luck what so ever. They don’t seem to be avertising very well so we are wondering if we should just go ahead and list for sale by owner and we can do all the advertising ourselves. Not to mention we could lower our asking price a good $10,000-$15,000. We bought our home through for sale by owner so we know a little bit about the process. We are not looking to make a huge profit off of our home with the way the market is, we want to move out of state and are only looking to get a price in which we can pay off our remaining balance on our loan. Any help on selling our home quickly would be greatly appreciated. We did lots of remodelling already and always try to keep it nice and tidy but this house will not sell. Please help…thanks for your time!
In regards to J’s answer…stop being lazy and advertise?…I thought that was what I was paying $15,000 for the realtor to do?

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6 comments » | Renting & Real Estate

Looking for Individual to purchase my Home and Property and contract to sell back to me within 1 year @ profit

October 27th, 2009 — 09:35 pm
l G asked:

I need to sell my Property quickly to restructure debt and would like to contract for a buy back for a profit within a 1 year period. I will lease/purchase for 1 year if needed. The value is approximately $150,000 and I need $85,000.00. My Family and I have resided on this property for 12 years and are lifelong residents of this area. Anyone interested please let me know ASAP. The Property is Located in Summerdale, Alabama. This contract would need to be prepared and signed prior to years end.

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1 comment » | Renting & Real Estate

What are the advantages of renting out versus selling my home?

October 26th, 2009 — 08:22 am
gc27858 asked:

I am in the process of purchasing a new home to live in. My existing home is in a neighborhood where places sell and rent out rather quickly. I have equity in the home equal to about 1/2 of the current value of the home. I am thinking about selling. Some people think I should rent it out. What are the tax advantages of renting it out? I still have a mortgage on it. Can I write off any of the interest on the mortgage? If someone can direct me to a good book or website to help me out, that would be wonderful. Thanks!!

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4 comments » | Renting & Real Estate

How to sell my house quickly and for what the asking price?

October 23rd, 2009 — 11:16 am
joyfulfairy asked:

Nice home just minutes from NYS thruway..3 bedroom, 2 car garage detatched…..nice neighborhood…Need more details just ask…

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4 comments » | Renting & Real Estate

Are companies that say they will pay cash for your house a scam?

October 22nd, 2009 — 12:26 pm
PinUpGal asked:

I want to sell my home quickly and have talked to a company who says they will buy your house in a week and pay cash for it. Is this legit? If so how do they make money? The house has gone up a lot in value but because I am willing to get rid of it quickly I don’t mind taking a cut in the profits if that is how these companies operate.

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10 comments » | Renting & Real Estate

Is there a way to transfer a second mortgage on one home to another home I want to buy?

October 22nd, 2009 — 06:54 am
AndiG1 asked:

Have a $9500 second loan on house and would like to buy another. Need to sell the first one and getting rid of 2nd mortgage could make a big difference in it selling quickly. Any advice other than renting first home?

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On a foreclosed home, who negotiates the price on behalf of the mortgage owner(s)?

October 20th, 2009 — 03:19 pm
Gaetan asked:

Let’s say, a home goes through foreclosure. Its related mortgage was pooled and securitized among thousands of others. Now, the home is for sale. The real estate broker incentive is to set a low price to turnover the property quickly. That’s because for a broker time is money.

So, who negotiates the price and protect the fragmented owners interest (MBS investors). Is it the servicer of the mortgage? But, because of his own operating cost he also would have an incentive to sell quickly at a low price. How about the securitization bond trustee. Does the trustee step in and negotiate with the broker what price is deemed acceptable to the MBS investors?

You can see it is kind of a gnarly question. If you have a clear understanding of this process, please educate me.

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2 comments » | Renting & Real Estate

I want to invest in land and sell quickly to make a profit. Need Advice?

October 19th, 2009 — 12:57 am
googoodollsss asked:

I’d like to finance and buy a piece of land that would be a great country setting for a home, stream, near lake, flat, some trees, near roads, etc. In an area with no risk for tornadoes. I’d like to spend from $10-$13k and make double profit. Does anyone have any suggestions? (people, places, etc) Thanks.

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In a short sale (mortgage), why does it take 60 days or more for the bank to make a decision?

October 18th, 2009 — 02:13 am
Justin F asked:

We have been waiting for over 30 days for an answer on a short sale property offer we made on a house that the current owner will abandon as part of filing Chapter 11bankrutpcy. The bank (Homecomings Financial) has been totally unresponsive whenever our Realtor makes contact with them–their consistent reply is: “we don’t know when it will be approved, it can take 30-60 days and sometimes 90″.

The basic question is: what are they doing? The only explanation is that our file is sitting somewhere on someone’s desk waiting to be worked. It baffles me that in light of the escalation of defaults and foreclosures in the market that lenders are caught unprepared to quickly evaluate short sale offers that, relative to entering foreclosure or repossession and resale (REO) of the home, could save them tens if not hundreds of thousands of dollars. We are about to give up as we won’t be able to sell our home quickly enough before the fall slow down if we don’t get a decision soon.

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5 comments » | Renting & Real Estate

How much should I sell my fish for?

October 17th, 2009 — 04:53 am
Courtney asked:

I have a 13″ royal clown knife, that needs a new home. He is quickly outgrowing his 125g tank. I need to sell him, but do not know how much to ask for him? He eats on pellets, and about once a month, he gets a few feeders. I bought him when he was 3″, for $5.99.

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8 comments » | Fish