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Larry Eul's Advice

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  • 67 Contributions
  • 4 Best Answers
  • 18 Helpful

Larry Eul wrote:

Home Warranty

Answer
Hello BartonJunkMail,  No, you do not have to purchase a home warranty.  However, there have been many marketing studies (agreed, some by warranty companies) that show quicker sales, supposedly higher prices, etc.  As a real estate agent, I know I have been able to help in the sale of many homes and sometimes having a home warranty has helped with a buyer giving them a better feeling about a home and making an offer.  Best to you- give some thought about a warranty.Larry Eul 
1 day ago
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can i still buy a house with a tax lien on my credit (550)

Answer
 The tax lien will be attached to the property the minute you record the deed. Most lenders will not make a loan in this situation, that may be why Dustin is recommending a payment plan.  Pay off the tax lien.  Best to you.Larry
December 18 2013
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HOW DO I CONVERT MY MTG PAYMENT TO BI WEEKLY?

Answer
I agree with Tony. Pay an extra 8-10% of your payment each month. Same results as bi-weekly payments. Even better this way because a lot of lenders will charge to set up the program - I have seen $300-500 - money better spent to pay towards the mortgage. Best to you....do your best to pay off this mortgage in 15 years ( or less!!).Larry
December 18 2013
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HOW DO I CONVERT MY MTG PAYMENT TO BI WEEKLY?

Answer
I agree with Tony. Pay an extra 8-10% of your payment each month. Same results as bi-weekly payments. Even better this way because a lot of lenders will charge to set up the program - I have seen $300-500 - money better spent to pay towards the mortgage. Best to you....do your best to pay off this mortgage in 15 years ( or less!!).Larry
December 18 2013
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LAWS ABOUT PORTABLE SHED ON RENTAL PROPERTY?

Answer
Hello-  maybe buy another one of the inexpensive sheds?Larry Eul
October 12 2013
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Securing a personal or hard money loan for a forclosed house

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dnmlaflamme- Let me understand this- the lot and mobile home are not elgible for a mortgage at this time, you want to buy using a hard money lender, rehab the mobil home and sell. And, you make comparison of this property with mobile home to others in area with 'houses'.  OK, what will make this change from a property not able to get mortgage financing now (maybe due to condition and mobile home 'improvement') to a property that can get financing (a lot with mobile home- fixed up though).   Chances are if you cant get a mortgage now, you wont get one in the future, meaning for your buyer.  Hard money lenders, you better be on top of your game dealing with them. Hard Money = Short term, high fees/points, renewal fees/points when you dont sell in short term (maybe 6 months). Most likely, you need to talk to a few, they will know viability of your plan and price short term/ Hard Money/ Loan Shark loan accordingly, if they will lend.  You should investigate probability of new buyer obtaining financing once you have completed your rehab project. If the buyer cant finance it, they cant buy it.Best to you,        Larry Eul 
October 12 2013
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Do I have to have an attorney for buying a condo in New York City?

Answer
Hello user 88602192 -  To help answer your question regarding a need for an attorney in NY closing-  Do you know the difference between a Quit Claim Deed, a Warranty Deed, a Special Warranty Deed, and a Bargain and Sale Deed (with and without Covenants) in NY? If yes, you still need an attorney- its not what you know, its what you dont know that you dont know.  If you dont know the differences, again, get the attorney.Best to you.       Larry
October 12 2013
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Laundry Room question

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Hi Dunes & "676" - hope ok to call you by your nickname -  maybe the Zillow Zesti-Mates Dance & Laundry Team will be appealing to almost all, would be a good addition to the Landry Room- dont sell Zillow short!!;-}
October 04 2013
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Laundry Room question

Answer
Hello to user 1738676-  Wow. There are a lot of Dallas Cowboy fans.... get a picture of the former Coach Tom Landry, a mock up of the Super Bowl Trophy and maybe a few pics of the Cowgirls, and you will certainly lease soon.  (Smiles)   
October 04 2013
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No record of mortgage or deed.

Answer
1. Investigate whether the property taxes have been paid over the past five years.2. Contact an attorney in that area. Best to you.
October 02 2013
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