If you can show that your retail business will continue on and you can conduct your business from Florida,, along with anything else you need to qualify on, you should be ok.
If there was an issue materially affecting the value of the home, all real estate agents have to reveal that information. Any other issues or terms will stay with the seller and the listing agent. The listing agent is working in the best interests of the sellers and the terms of previous offers are confidential information between the owner and the listing agent.
The buyers agent are working in the best interests of the buyers. It is normal that they would want to know the answer to that question. As long as there is no material defects to the property, there is no explanations due. It is up to the Buyers Agent and the buyer to decide the best terms and offer they want to place on the home.... more
If you are a renter...you have legal rights, even without a lease. You cannot be evicted without due process and your property cannot be "put out to curb". Please note this is in no way legal advise. As other agents advised here.....consult a real estate attorney well verse in these situations.... more
Banks go based on your current base salary, and a 2 year average of your overtime and bonus income. They break this down to what your monthly income is and run ratios based on what your liabilities are as they appear in your credit report and you proposed mortgage payment. Does this make sense to you?
Say you have a monthly income of $5,000, and your monthly liabilities are $450 (this is the sum of your credit card's minimum payments, monthly auto note, etc.) and your monthly mortgage payment is estimated to be at $1,850 (including principle & interest, monthly taxes, insurance an with NACA they charge a $50 monthly fee as oppose to mortgage insurance). So you got $5,000 income against a total of $2,300 in monthly liabilities, divide $2,300 into $5,000 and you get .46, so your debt to income ratio is 46%, and this is almost always acceptable, maybe NACA is a bit tighter so they might want you at no more that 41%. But this is the general idea of how it works.
I am very familiar with NACA, I volunteered for a Save the American Dream seminar. I can tell you that they do take forever, very long process and at the end if they don't approve you for whatever reason, that's it, there are no alternatives. So I wish you luck. I know the rates and the no money down isn't really available anywhere else!
Feel free to contact me with additional questions.
Javier Meneses
Sterling National Bank
jmeneses@snb.com
516-606-9648... more
Good to see that you are on to the next "chapter" of your life. I agree with everyone, it's probably too early yet. Look for ways to buld your credit back up.
My best to you.... more
Good luck with the birth of your baby!
Now on to your question,... First and foremost, when you list your property for sale with an agent the actual relationship is between the brokerage and the seller so being reassigned another agent is normal. You should request a copy of your listing agreement from the brokerage.
As far as taking your house off the market, and selling it again in time, your listing agreement will spell out the terms of your listing. Generally when you list with a company you are able to withdraw from the market but should you decide later to sell you may still owe a commission to the previous broker it it's within the original listings timeframe.
Good luck!
Irene Renna
Century 21 Princeton Properties
631 467 0009 office
631 467 0029 fax
631 291 2180 cell
Irene.Renna@Century21.com... more
In addition... In response to Mary Groom's answer to you..
re: "so you will not be able to relist with another company without the hazard of paying 2 commissions should it sell."
Not necessarily true. Most agreements will state something like:
If the house is sold with a licensed broker to whom you are obligated to pay under terms of a subsequent agreement, then you (seller) will only owe the first realtor partial fee, i.e. the difference between their fee and the lesser amount actually paid by seller to such subsequent licensed broker.
Of course, it all depends on the realestate laws in your state.... more
You do not even have to sell the house. You should ask your bankruptcy attorney to confirm, but if you're in the process of filing for bankruptcy (I assume it's chapter 7), you should be able to include the house and not even have to go thru the process of a short sale or foreclosure. Good luck!... more
Price drop yes,... but is it within the relm of market support?
You put your house on the market, why take it off? has something changed in your life that you are no longer moving?
If the home is not priced with what the market will support, the buyer won't come.
Talk with your agent, go out to a few of your "competition" and get a feel for the market and then price your house accordingly.
There should not be any fees to you until closing ( which is your goal yes?)
Best of Luck with your sale
Irene M. Renna
Century 21 Princeton Properties
(631) 467-0009 office
(631) 467-0029 fax
(631) 291-2180 cell
Irene.Renna@Century21.com... more
One other possibility: The $75 a month is for the rental of the trailer. However, if it's in a park, you might also be responsible for the land lease (ground rent) which could be an additional several hundred dollars or more a month. I recently sold a manufactured home--not rent, but sold--for $210 a month. (Purchase price was about $13,000 over a 5 year term.) However, the ground rent--which includes everything from a swimming pool to tennis courts to gated security to a rec center--is an additional $800 a month. That $800 is on the high side, but lots of places charge $300-$500 a month for ground rent.
Hope that helps.... more
Hi Sana,
I'm just following up. Were you able to find the information from the tax records and prove that you are no longer the home owner? I'm just curious as to how things went.
Thanks and Good Luck!
Laura Feghali
Prudential Connecticut Realty... more
There are many deals available, you must be diligent in finding them. I would recommend your neighborhood resources, like the neighbors, businesses. They are the BEST source of good leads because they live and work there. Good luck on your search.... more
My suggestion is to consult a Tax advisor familiar with both Florida and Islip Township. I see your zip code is in Bay Shore. Also, go to the Islip town hall to inquire what property tax benefits will be lost if you make Florida your permanent residence. If I can help in anyway you can contact me at the e-mail address I posted.
I have been a resident in Bay Shore too for a long time.... more