Comments for Guide for buying your dream home

Comment on Hi I got a appointment letter from british petrolium company PLC is it is true recruits with out any interview? by abhilash

abhilash — Sun, 20 May 2012 08:09:32 +0000

hi,
i am abhilash i too got a mail from this company. the only change is my position is account officer. the bank account is a fraud one, this is the answer what i got………..

Comment on Do I still have to keep home insurance on a vacant home if I’m negotiating a short sale or can I cancel it? by Roger N

Roger N — Sun, 20 May 2012 08:03:33 +0000

I would NOT cancel your insurance. You might get lucky and have the house burn down. Your insurance company would then pay for you live somewhere else, and also rebuild the home.
You will own the home until it is closed on a sale, or you lose it to foreclosure. No one else will pay the insurance while you own the home.
You may not want to keep a “shortsale” property in pristine condition. Part of getting a shortsale approved is showing the bank that the home’s market value is what you are selling it for. If a home is neglected, an appraiser hired by the bank, may also see this and report the value lower than a nicer home. This may get your sale approved.
You are not required to have the utilities turned on. However, if you don’t use the utilities, then the costs may be minimal. A buyer will most likely want to inspect the heating, a/c, plumbing and electrical, and will need these turned on for their inspection. Also, who will look at your house in the dark without electricity??? You, or the buyer, may turn on the utilities for an inspection.

Every market is different, so what works in my Portland, OR may not work in your market for selling your home.

Comment on Do I still have to keep home insurance on a vacant home if I’m negotiating a short sale or can I cancel it? by ♥ Mary ♥

♥ Mary ♥ — Sun, 20 May 2012 07:35:41 +0000

The utility bills are not going to be the normal amount. You go to the shut off points and you shut everything down. Turn the gas off, the electric off and the water off. (Except by the pool, you may need to run that to keep the pool clean!) Tell the Realtor that you turned them off at the shut off points and when ever she shows the house she will turn them on for a few minutes and then turn them off when she is done. My house was the same way and I think the Realtor who had their name in the water bill was charge like $ 5 for two months.

Comment on Is buying a home “For Sale By Owner” a good idea? by sara h

sara h — Sun, 20 May 2012 06:53:10 +0000

I have to agree with “New Mexico Realtor” for the most part. Before I was a realtor I bought a “fsbo” as we call it. WHAT A DISASTER!!! I was very ignorant as most buyers are… I did not say stupid, I said ignorant! This is not something people do every day and there are too many things that can turn a deal sour. We as realtors are go-betweens, occasionally we will have to keep buyer & seller apart for various reasons. What would you do if tensions got so hot that you and the seller were ready to come to blows??? It happens! For real. Besides that you have to have an inspection by a reliable inspector. There are a ton of crooked inspectors but there are plenty of good ones too. Who works with them the most? Realtors! Now what about mortgage companies, do you know the difference and how can you tell.. they all have their schpeel! Appraisers??? Surveyors? Lawyers? Title Company? Fees? How about your rights, what you can and can’t do?
These are just the tip of the iceberg!!! I mean it!!

I just closed a deal that looked like it would never happen, too many glitches, I worked & massaged every way but Sunday. It finally worked but easily could have ended up in the trash. Don’t take chances.
I would find a good realtor (and I’d be happy to find one in your area for you) who would represent me in the transaction and get me the best possible deal even if it is a fsbo because they know the ropes. Don’t go around them, they can be your best friend if you choose them right!

Click on my picture and send me an email and I’ll get you a realtor if you’d like!

Best Wishes!

Comment on Do I still have to keep home insurance on a vacant home if I’m negotiating a short sale or can I cancel it? by menasha_rabinowitz

menasha_rabinowitz — Sun, 20 May 2012 06:46:00 +0000

Remeber what Forrest Gump said? “S*it Happens”! How would you feel if you cancelled your insurance and the home was destroyed before you could complete the transaction? Do Not Cancel the Insurance.

Comment on Do I still have to keep home insurance on a vacant home if I’m negotiating a short sale or can I cancel it? by Expert Realtor

Expert Realtor — Sun, 20 May 2012 06:28:06 +0000

You have several problems:

1. Insurance companies won’t insure a vacant house. In the event of a loss, if they find out it was empty (and the total absence of furniture is a dead giveaway), they will deny your claim.

The reason they deny it is because the potential for damage is sky high when no one is residing in the property.

2. Cutting off the air/heat will cause a smell to develop in your home, toilets won’t flush, etc. It will stink to high heavens because of the trapped air.

3. No buyer is going to PAY to have utilities turned on in their name for an inspection…the house isn’t theirs and you aren’t going to find someone willing to do that. That is your job as a seller.

4. The bank will never carry the insurance.

5. The Realtor is 100% correct about keeping up the maintenance…and you can get fined by the city/HOA for tall grass, etc.

6. If you are just walking away from the home b/c you want to move out of state, they WILL NOT approve your short-sale. That is a choice.

7. Get a new Realtor…yours clearly is not familiar with the terms of a short-sale and you need someone WHO IS.

Comment on Do I still have to keep home insurance on a vacant home if I’m negotiating a short sale or can I cancel it? by src50

src50 — Sun, 20 May 2012 06:16:17 +0000

You’d better keep it insured. If it burns down, its your loss.

Comment on Is buying a home “For Sale By Owner” a good idea? by oragon_man2

oragon_man2 — Sun, 20 May 2012 06:08:41 +0000

No, especially if you are a first time buyer and had no previous exprience in searching for houses.
Unless you want to read all the disclosures and do all the legwork on your own then it’s ok for you to buy “for sale by owner” properties.
They are not really cheaper compare to house listed on MLS

Buying properties on listed on MLS is much better for you are represented by an agent that will help you through the whole process and there more choices for to choose from

Comment on Do I still have to keep home insurance on a vacant home if I’m negotiating a short sale or can I cancel it? by goz1111

goz1111 — Sun, 20 May 2012 05:38:11 +0000

Few things:

The fact that the bank is willing to do a short sale, does not mean they take responsibility for the home, you are still on the hook until you find a buyer and close on the property, so you must keep the insurance, since you are still liable until the closing

Next: short sale only means you have a agreed upon price the bank is willing to take, you still must find a buyer, if you think your place is going to show well in this down market, with a green pool, bad lawn care and no electricity to see around, you are fooling yourself

do the things you are thinking about and you will go from a short sale to a foreclosure

Comment on Is buying a home “For Sale By Owner” a good idea? by newmexicorealestateforms

newmexicorealestateforms — Sun, 20 May 2012 05:20:07 +0000

The pit falls are that in almost all cases even though they start with goood intentions the seller and the buyer don’t know what they are doing and end up suing each other.
All the education, testing, requirements, licensing, rules, regulations and laws are there for a reason. In the least one of the parties should have a licensee and or an attorney.