If i move out of State from Georgia to Newyork i heard that i can give my RealEstate Broker limited Power of Attorney with an experation date so that i do not have to wait for the closing.Is this true?Is this safe?
It is common all over the world you can give aspecific power of Attorney for the specific job and time limit get it registered/stamped and keep going. You are safe.*
The value of a feature that is present in the subject property but not in the comparable property.a: subtracted from sale price of the comparable B: added to sale price of comp C: not a valie variable in priceing the comp. D: none of these
An appraiser may substitute his own opinion in the place of reliable date A: if he has long experience. B: never. C: if requested by a supervisor. D: if it will increase the price of a property.
An appraiser needs A: realestate lisence. B: appraisal license. C: brokers license. D: affiliate brokers license
In the sales comparison approach the probable sales price of a building may be estimated by: A:considering sales of similar properties. B" determining accrued costs. C:determining construction costs. D: considering depreciatin
Which approach would be given the most weight in valuation of a "strip shopping center"? A:cost approch. B:income approach. C: cma D: none
Shouldn’t you do your own homeowrk?
I am currently in a situation where my realestate agent has dropped the ball on many occassions. She blames every fumble on someone else (including me, my wife, and my mortgage broker). Her fumbles, as well as a couple by the mortgage broker, have caused the closing of my house to be pushed back by a few days. This also affects the seller since they can’t close on their new house until we are closed.
My question is, do we as clients have any protection whatsoever from an agent that has really failed miserably? Based on the contract, even if we cancel the contract we still have to pay her if we buy a house within 90 days of termination. How are clients protected from horrible agents or just bad agent mistakes and judgments? Her mistakes have contributed to the possible loss of the house and serious delays in closing. There have been may more fumbles along the way.
The main fumbles have to do with communication and education.
I will also say I am sure I made fumbles as well, but I rely on the "professional" to tell me what I am doing wrong or where I may slow things down.
- We were offered some repair money. My real estate agent stated we could find a way to get the repair money out of contract so I could take the money and do the repairs myself. Therefore doing more for less. When it was realized this couldn’t be done she quickly said "Well, the buyer brought it up so I was just checking." She planted that seed and now I find out that can be related to mortgage fraud.
- The closing date was relying on contractor invoices, but due to her trying to find a better way, we didn’t get those done (my fumble, as I was relying on her information). We found out 2 days before closing that it couldn’t be done and this was after she said the seller agreed to it. So we had to scramble.
The others basically include VERY poor communication.
And you make a very good point about closing. I was under the impression a real estate agent was there to hold your hand during the entire process, including making sure closing and everything needed happened on time.
I can find a house on my own, I need someone that can help me through the rest of the process. If that isn’t what agents are for, then there is a much larger problem with the industry.
BTW, let me say. You guys have been great helping out! Thank you very much.
I cannot think of anything the buyer’s Realtor might do, or not do, that would delay the closing. Please give some more information.
If it is found that the agent has caused you financial loss through a mistake on their part, they do carry error and omission insurance to cover the mistake. However, I still am not clear on what they could have done that leas to the situation you are describing.
I’ve had a job for about a year now and i’m getting close to 4000 dollars. At first I thought i’d buy a car but what good would an old used car do a few years down the road, i’d just have to buy another one in a few years plus pay for all the repairs. So investment struck my mind. I’m only 16 though and have about 4000 dollars with a limited amount of income. This will be my first time investing and I’m not really sure how to do it and have some questions?
Can a 16 year old invest?
Do I have to invest through a broker? How does that work?
Is that enough money to invest in real estate? Is it possible to join in with other people investing in realestate?
Should I wait to invest because of the bad economy?
I know there’s also mutual funds but that doesn’t really appeal to me.
Best bet would be shop around for a CD (Certificate of Deposit). Stocks are risky at the moment, and are for more long term investments. Real estate is also shaky and for $4000 you really wouldn’t be able to do too much. You can get a CD at any local bank, they usually hold your money for 6 months to a year and can tell you exactly how much money you will earn for letting them hang onto your money for that year. If you want to learn more just click the link I have.
This is in California I need quick answers
The standard is 3% to each agent, so a total of 6%. You see 5 a lot too, but if you go too low the selling agents won’t show the house.
To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam.
Unfortunately over 50% of people that really need to sell their timeshare falls for this resale scams where they charge money upfront and less than 10% of them use their only real option which is to post it or offer it trough free advertising options as much, and as many sites as they can (it is ok to pay a few dollars to post in a great place but no more that $20 to $30).
Timeshares do not have resale value and in most situations you would take a loss in what you paid for, as they resale for less than $2000 USD.
There are some free classified ads where you can start posting:
http://timeshareownerscommunity.com/
http://craigslist.com
http://ebay.com
http://recycler.com/
http://usfreeads.com/
http://www.inetgiant.com/
I live in Los Angeles and I am considering purchasing realestate in texas. I am trying to generate positive cash flow. I am looking for 1 stop place where broker can help me purchase and help me with property management. Since I live in LA it has to be someone extremely responsible and knowledgeble. If you had positive experience in this area please let me know who I should contact
You’re too late. Too many investors have already bought, driving sale prices up and driving rental prices down.
In San Antonio, there are new, never been lived in houses, sitting vacant since July because they’re not renting. Also, when they do rent it will not be for a positive cash flow.
The average sale price in San Antonio is about $165K. A house in that price range, bought with a 5% down payment and 6% interest will have a mortgage (with escrows for tax and insurance) of about $1,600. That house will then be able to rent for about $975 to $1,150.
My broker is a full time property manager and this past summer was getting calls from SO many California investors who had just bought houses that they wanted him to rent for them. Their hearts were broken when he told them the facts of how much they could rent for.
Ok so long story short ….I am getting screwed by my broker he is charging me over 4000.00 more then origanial quoted and then he didn’t give me my GFE till 3 days ago a month & 10 days after I signed it. I was going with another lender at first who now that I can compare was going to give me a way better deal. My realestate agent says she will take care of it but if she cant I want to change lenders. How far would I go passed closing? I already have had a Va inspection but she said we may not be able to transfer it to a new lender if the inspector is not on there list? What is involved with transfering this close to closing? Please help!!!!
Ok so my broker broke respa not giving me the GFE within 3 days. So I wouldn’t have been able to review the costs and espcially so I couldn’t compare it to the one I had had from my another lender. It is a long story but if my Realestate agent doesn’t take care of it I want to change bokers/ lenders. I am asking how to do that and how bad it will mess everything up? F.Y.I. GFE is a good faith estatement
Also it will cost me 150.00 every day past the day of closing and the house is a forclosure and is owned by a bank not sure if that is important. Thanks for any help!
Tell the seller that you will release your entire earnest money today in return for a 15 day extension of the purchase contract. Then get your loan to a broker who won’t cheat you. Switch today..
The value of a feature that is present in the subject property but not in the comparable property.a: subtracted from sale price of the comparable B: added to sale price of comp C: not a valie variable in priceing the comp. D: none of these
An appraiser may substitute his own opinion in the place of reliable date A: if he has long experience. B: never. C: if requested by a supervisor. D: if it will increase the price of a property.
An appraiser needs A: realestate lisence. B: appraisal license. C: brokers license. D: affiliate brokers license
In the sales comparison approach the probable sales price of a building may be estimated by: A:considering sales of similar properties. B" determining accrued costs. C:determining construction costs. D: considering depreciatin
Which approach would be given the most weight in valuation of a "strip shopping center"? A:cost approch. B:income approach. C: cma D: none
A
B
B
A
A
I was born and raised in LA California… and his home town is guadalajara, mexico…. I am so freaked out about moving there… I was planing to get my realestate license and become a broker and now it looks like my plans are going to change… this is not what i wanted… but how far does one go for love… After all is love more important that goals… someone give me some advice. or if someone has been in that city of mexico give me some feed back on how it is… I have never been to any part of mexico except baja… please HELP!!!!!
tell him that crossing the border and living and working there will make you an illegal alien…maybe all americans should do that especially since all the jobs are there.. move to mexico and become an illegal alien…..