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William Raymond's Advice

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  • 6 Contributions
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William Raymond wrote:

Realtor contract ends before we close are due to close can we not renew?

Answer
In most states the representation agreement allows an agent to get paid on any transaction that is started within the agreement period. If this is the case in your state, then the agent will get paid. Check with a local attorney for clarification. Bad news travels faster then good, let your friends and family know how you feel about your experience.
October 22 2013
(0)

I am separated and want to buy a property, will that block my husband from buying at the same time?

Answer
There is no legal reason that I know of that your purchase would block him from buying at the same time. It may become a lender issue if the two of you are using each others income for mortgage qualifications. Call a local real estate attorney, and a mortgage lender, they should be willing to answer a basic question or two over the phone. Hope this helps
April 18 2013
(0)

condo value

Answer
Three great places to learn your value, firstly here on Zillow, checking sales and listings. Next, local Realtors should be willing to provide you market data within your development and neighborhood at no cost. Lastly, check with you condo association, most associations will have records of sales, and should be willing to provide this information to its members. Hope this helps.
April 04 2013
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Closing delayed by Seller's Offering Plan

Response
Tough spot, I feel your pain. Start by contacting all of your local and state elected officials, including the AG's office. They won't hesitate asking for your vote, don't hesitate asking for them to earn it. Hope this helps. Keep us updated.
March 27 2013
(0)

Does a neighborhood swim / tennis enhance property value?

Answer
As with most features and benefits, more is better. If everything else is equal, location, quality, construction, size, age, condition, cost, etc., then adding another amenity would increase the desirability of a development. A hard and "for fact' statement can not be made because of all of the variables mentioned. However every appraisal done within you area that uses homes located within a development with swim/tennis verses ones that don't should have adjustments made to reflect local market values of a neighborhood swim/tennis option. It has been my experience that most local Realtors will have data that can support the conclusion that you are seeking within your market, as would appraisers, and mortgage lenders. Hope this helps.
March 27 2013
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What is the value of our rental property?

Answer
Rental property values will typically be determined by a sales comparison method or by the income method. The Sales comparison method is typically used to determine the value of most single family homes. The income method is used more often for multifamily and commercial property.If your rental is a single family home I would find other similar homes that have sold in the area, make additions or subtractions as necessary for the amenities, keep in mind the closer and more similar they are the more accurate the outcome will be.If you wanted to utilize the income method you would either use a cap rate, or gross rent multiplier, and in some cases both, then take future expenses and condition into consideration. These can be a bit complicated, however there are some good videos using both on YouTube. Hope this helps
March 21 2013
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