Zillow Advice RSS: Question-Discussion-Guide,Home Buying,Wilmington- NC

short sale

Thu, 23 Jul 2009 19:30:00 GMT

We are looking at a short sale and need advise. A builder has some homes that are brand new and are close to being finished but filled chapter 11 and the homes are just sitting in limbo (for about a year now). They have said they will sale to us make them an offer for as is. We know the origianal sale price for if the house was finished but not sure what to offer since its not finished and there would be no warranty. I know the bank is the decision maker and would like to know what they owe on it to help.

4 replies

8k tax credit. Does anyone know whether it will count for 08 or 09?

Sun, 15 Feb 2009 16:08:00 GMT

I'm thinking it will count for 08 due to what I found on IRS.GOV

http://www.irs.gov/newsro ... portlet=6

"There are a few limited areas in the legislation that could impact 2008 tax returns. For example, for some small businesses, changes in the net operating loss provisions could affect 2008 tax returns. More details on this and other changes — such as the first-time homebuyer’s credit — will be available soon"

Has anyone else heard anything?

4 replies

I keep getting "Done but errors on page" when looking up Wilmington, NC properties, Why?

Wed, 06 May 2009 20:48:00 GMT

Looking up properties I have looked at before on Zillow but am now getting the "done but errors on page" and the page isn't loading. NO problems loading any of the other Zillow pages...

1 reply

Changes in Home Buyer Tax Credit

Wed, 18 Feb 2009 21:02:00 GMT

Here is a great resource chart that shows the changes from the 2008 homebuyer tax credit to the one institued this week in 2009!

17 replies

How much is the real estate agent responsible for as far as getting the process rolling?

Thu, 12 Feb 2009 02:25:00 GMT

I am a first time home buyer who is supposed to close by March 6th. I am feeling very clueless right now because I just received approval to buy this short sale property. The week before last my agent and I had discussed closing attornies. He has suggsed so and so and I agreed because someone close to me had suggested him too, so I was like, fine, lets go with him. i guess I thought when I said that he would make the initial contact because he had the contract, knew all the details ect. Well, I was wrong. So now I am worried that I have screwed things up with closing being a couple weeks away with no attorney as of yet. I had been given a preliminary closing/prepaid estimate which I assumed covered a base cost, but when I asked about whethere there were any fees involved with assuming the hoa dues, he got very snarky with me like I was stupid for not already having a closing attorney. I have been asking questions all along, and he has not been very , in my opinion, co-operative. I'm not stupid, I just don't know these things. I'm doing this all on my own and I am worried now thats some awful surprise is going to await me.

1 reply

Am I going to be responsible for my new home's unpaid property taxes?

Thu, 12 Feb 2009 00:57:00 GMT

I am in the process of buying a short sale. The seller's bank just approved my offer this week. We are scheduled to close March 6th and yet according to my county's tax office the 2008 property taxes are yet to be paid. Will I be responsible for these?

1 reply

Anymore word on the FIRST TIME HOME BUYER'S credit being made non refundable?

Thu, 29 Jan 2009 13:05:00 GMT

I saw a Washington times article a couple days ago that said there was a provision with Obama's stimulus to make this $7500 non repayable for those that buy between now and July 1st. I haven't seen anything since. Does anyone know if this actually made it into the version that was passed last night.

1 reply

condos for sale in wilmington, delaware

Tue, 20 Jan 2009 22:04:00 GMT

0 replies

Do you ever do 'Zestimates' for vacant lots? If so, how do I find one on your website?

Mon, 19 Jan 2009 22:22:00 GMT

2 replies

Did I screw up?

Sat, 10 Jan 2009 01:47:00 GMT

I put in an offer on a short sale. So far, I've heard nothing, and my real estate agent says i'm pretty much dead in the water, as I was not the first offer in. At any rate I've lost all interest in the house, and since it's pretty moot anyway he suggested we keep looking. Last night I found my absolute dream house, well, dreamish for me anyway and told him I wanted to make an offer. Well, here's the thing, we haven't pulled the offer on the first house. What IS WRONG WITH ME? He said he never gave the earnest check to the seller's agent, so according to him we're okay. He's like you won't lose your money, you're safe, blah, blah, but now that I think about it. NO I'M NOT. I just can't believe how stupid I ma. Not only that, he missed some major things on this new offer. Like whole sections that need to be filled out. I just feel so screwed right now. I called him, and of course, he's not answering, and told him I want to meet with him first thing tomorrow. I want to pull the offer on the first house. I'm about ready to pull him, but can't because i signed a contract for him to to represent me for three months. Have I screwed up?

8 replies

Townhome/Condo assessments. Help?

Sun, 11 Jan 2009 00:52:00 GMT

Are assessments part of HOA dues? Are they seperate from HOA dues? Is this something that is charged every year? Every few years? Paid monthly etc? I just emailed my realtor to ask. In looking at the disclosure documents it appears there are none?

# 19 Owners association or common area expenses or assessments. Answer: Yes.

But explained in #21, If answered yes to #19, please explain. Answer, HOA $120 per month. No mention of Assessment fees

This development is only four years old, so maybe they haven't gotten to that point yet.

Please forgive my ignorance on these matter, I'm home buying baby.

2 replies

The 7500 Refundable tax credit, what are the chances of it become non repayable?

Sun, 11 Jan 2009 14:26:00 GMT

In my paper there was an article that there was a bill out there to make the tax credit so that it doesn't have to be paid back. My real estate agent has said much the same thing. Does anyone out there know what the chances are of this actually happening?. If I have to, no problem. I plan on using the money to pay off my car loan in full. At o percent interest at the rate of 500 per year, I think I'll be doing better than okay. I'm thinking too, that it won't be bad, as part of what my normal tax refund would be would go against the debt. Am I wrong in this thinking?

1 reply

How do I find out how much is still owed on a bank owned home?

Fri, 02 Jan 2009 20:55:00 GMT

5 replies

Do I need title insurance?

Wed, 17 Dec 2008 12:58:00 GMT

I am purchsing a property for cash. Since there will be no mortgage, do I need title insurance? I will be having a title search done

1 reply