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Nick Socha's Advice

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  • 105 Contributions
  • 2 Best Answers
  • 15 Helpful

Nick Socha wrote:

What offer should I accept with an Estate Home in a lower class neighborhood?

Answer
Not to knock your realtor, but, if it appraised at $40,000, why did your realtor list it at $70K?You could always counter the $31K offer (hopefully it's all cash). What does your Realtor have to say?  I can probably guess, but I'm curious.Nick
March 15 2013
(0)

How long does the process take to buy a home with cash?

Answer
Contact an agent in your area.  If the home is vacant and everyone does what they need, a standard sale can close in about 10 days.  An REO in 20 days at best, and a short sale, well it'll take some time.
November 29 2012
(0)

buying a foreclosure? Help me understand this please

Answer
Unfortunately, if the auction terms for the property are cash only, they most likely would not allow you to switch to a financed offer if you were the winning bidder.  You should contact an agent in your area and look for a property you can purchase with a 203K loan.
November 29 2012
(0)

I'm looking for a buyer's agent who is willing to offer a rebate on the commission.

Answer
Contact a Redfin agent.  They love giving their money away.
October 21 2012
(3)

I recently bought a new construction townhomeand I want to make a lot of improvements to the interio

Answer
Not only do you have to check with the city and county for permits, you need to also read your CCR's and Rules and Regs regarding modifications to the unit.  Most HOA's have guidelines which must be followed.Good luck with your remodel.
October 18 2012
(0)

How soon can I rent a property if I acquire it with a FHA 203K?

Answer
Talk with your lender.  It will be at least 1 year and maybe never.  You need to discuss this with your loan officer.Best of luck.
October 17 2012
(0)

What do you think about buying a home on leased (US Forest Service) land??

Answer
It would all depend on how much time is left on the land lease.  Once the lease terminates there is no guarantee you will be able to renegotiate the lease.  If you can't, you would not be able to reside in the residence in it's current location.Also, in all likelyhood, the structures ownership will revert to USFS.Additionally, depending on number of years remaining on the lease, you may not be able to secure financing for your purchase.For more details regarding the pitfalls of land leases, you should ask an attorney.
October 16 2012
(0)

Tax Re-Assessment question before listing a home

Answer
The tax assesment has nothing to do with the fair market value of the home you currently own.  The house will be reassessed at the time of sale in most jurisdictions.The buyers agent will explain this to the buyer during the transaction.
October 01 2012
(1)

which palmdale homes are closer to the san fernando valley? for example closer to the freeway

Answer
Anything within .5-1 mile of the 14 Freeway should offer good freeway access.
September 20 2012
(0)

What is the easist way to determine total number of non-Zillow held public stocks?

Answer
You can dig through Zillows SEC filings at sec.gov to get the complete Insider Trade count.  But, it'll take you some time. You have to go document by document.
September 19 2012
(0)