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Mary Haddaway's Advice

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  • 48 Contributions
  • 4 Best Answers
  • 9 Helpful

Mary Haddaway wrote:

Auction.com property

Answer
I recently had a home listed that went to Auction.com. On their site, there were numerous documents to download which explained how the process worked. Please download the documents and follow them step-by-step to place your bid on-line. When you place your bid on-line, there normally is a section asking what contingencies you're requesting. This is where you'd list your home inspection and any other inspections you are asking for as part of your offer. If your offer is accepted, you'd have a time-frame in which to complete the inspections. Normally, once your inspections are complete, you can choose to move forward to walk away with no penalty. That information should be available in the downloaded information regarding whether there is a penalty, etc.It might be wise to contact a buyer's agent who is familiar with auction.com or sites similar to them and have them help you with your offer, etc. Normally, the buyer does not pay commission. That information, too, should be in the downloaded info packet.Good luck!Mary
March 20
(0)

Doing the 'leg-work' for the realtor using Zillow.

Answer
As a Realtor, I cannot imagine another agent/Realtor stating (for all public to see, no less!) that if a home isn't in a certain price point, it's a waste of time. Really?! That's certainly not doing the best for your customer is it? I have never found myself too busy to show ANY property to an interested buyer.Sunnyview had a really good suggestion - expand your search parameters and then narrow down from there. Unfortunately, Zillow isn't as up-to-date as an agent with MLS access. We get the latest updates in minutes re. price changes, new listings, foreclosures, etc.Good luck with your search - I know you'll find your perfect home.Mary
March 16
(1)

HECM Mortgage for 55+ Community

Answer
The best advice would be to contact a Realtor who has the experience you are requesting. Also, it's a good thing to contact a lender and get started on that end. However, the lender may want to wait until you have a solid contract on your home currently for sale. That being said, the lender can definitely give you valuable information for moving forward. When your home sells, you'll be a step ahead of the game. A Realtor can help you with comps, etc. to make sure you don't pay more for the 55+ community home than  what the current market supports/have recently sold in the area. Your Realtor can also advise you every step of the way re. title companies/attorney information, inspections (if part of your offer) and much, much more.Good luck on the sale of your home as well as the purchase of your new one.Mary
March 10
(0)

Thinking about relocating one day.

Answer
Hi, Kevin,Think about the Eastern Shore of MD. We have the beautiful Chesapeake Bay at our disposal as well as many rivers, great wildlife (land and sea) - great for the soul and artistic folks, too. Both Easton and St. Michaels, MD have an "artistic" feel to them. I'm sure it wouldn't be too hard to find the space you're looking for which would include gallery and living space. If you'd like additional information, feel free to contact me.Kind regards,Mary
March 09
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f a buyer cancels a transaction before closing but does anyone owe money to the title company?

Answer
It's been my experience (MD Realtor) that the buyer would be responsible for paying whatever was incurred by the Title Co. regarding the title search, paperwork prepared, etc.
March 05
(0)

A short sale

Answer
Your best bet is to find a Realtor who has short sale experience. They can help you prepare your offer by reviewing info on homes that have recently sold in the same area and are most like the home you are interested in, help with all the paperwork, keep on top of where the negotiations are once your offer is accepted, etc. There's a lot more involved in purchasing a home that just finding one you like and making an offer. Good luck!
February 25
(1)

we have a home to sell, if we are lucky we will break even...

Answer
Most sellers these days in Maryland, unfortunately, are "under water" where their homes are concerned. I surely wouldn't even think about purchasing another home until your home has been listed for sale. Then go look at homes so you'll have an idea of what you like. Once you have an offer on your home, perhaps then make an offer on another home (making your purchase contingent upon a successful settlement of  your current home). In Maryland, the seller can specify that they have the option of finding a home of their choice before settlement can take place. If that's an option in Kansas, I'd suggest doing that. Hopefully that'll solve the problem of an offer being accepted on your home and you having no place to go. As for whether or not to pay off your car or save the $$ for a down payment on another home -- talk with a lender who can advise you regarding what's best for your particular situation.Good luck!Mary
February 23
(0)

Not enough closing costs at time of application?

Answer
Is it possible with your loan structure to have the seller contribute the $3000 towards your closing costs? Ask your lender; it may just solve your problem. These days, the time allotted for closing is normally 45 days. If you're unable to get seller help towards your closing costs, you should be able to have the money needed by the time of closing. Bottom line -- check with your lender to see what your options are. Good luck!Mary
January 04
(0)

How to buy foreclosure property from auction.com

Answer
There are some viable properties if you go directly to auction.com. I have a listing posted there and it's a fixer-upper, yes, but also a good buy. Not all of the properties there are "dogs". Sometimes, you're just better off buying a home that doesn't need as much work. By the time you by a home just because it's what you think is a good price, put money into it to make it habitable, you pretty much end up spending the same amount. Good luck!
December 05 2013
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Long and Foster agent will get 3% commission from seller and $345 from buyer.Is this normal?

Answer
As part of the Long & Foster network via Lacaze Meredith Real Estate, the Broker's fee is $245 per transaction. THE  AGENT DOES NOT RECEIVE THIS AS PAYMENT; all commissions, fees, etc. go directly to the brokerage and not to the agent.
November 04 2013
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