Renting & Real Estate - February 2007

I am new to real estate short sale investing.
One client (seller) is behind in payments about $20k. Trustee (auction) sale is on March 12. Has a 1st and 2nd loan with the same bank. Total owe is $624k. Properties in this are are taking 90 days to sell. Comps around this area are for $700,000.
What are my option?
How much should I offer the banks? What are my profits and my expenses?? How much should I get it for and List it for once the bank accept my offer??
What happen the the behind payments of the seller? Is the seller liable for anything or he is free of the home debt or taxes????

2007-02-12 18:27:01 · 4 answers · asked by christian80.geo 1

I am renting a house with my husband. We split the rent 50/50.

Over the course of a year and a half he has turned into a monster. He is very hard to live with. He yells at the top of his lungs for the smallest things. He just yells and nags about everything. If you say one tiny thing he does wrong he blows up. He has so much pent up anger inside him and he takes it out on everyone else. I can't live like this but the lease is for two years. I would not be able to afford the house alone. So I have no idea what to do. Two years of hell is insane. He threatens to leave all the time which I would be stuck with the rent. Does anyone know anyway ways to get out of it. With out having to spend a fortune whether it's on lawyers or what not.

2007-02-12 16:41:47 · 5 answers · asked by Anonymous

I just came home and found someone parked in my parking spot in my apartment building. Each space is marked with the apartment number and there is ample unmarked spots for visitors, but further away. I paid a parking fee when I signed the lease. I am not happy! It is after midnight where I live. I put a note up by the bulletin board by the entrance, asking this person not to do it again. Do you think that is too much? It is the first time, and normally I would let it go. I parked in visitor parking but I'm worried because we are supposed to get a bad snowstorm during the night and they push all the snow to the visitor parking! What would you do?

2007-02-12 16:25:03 · 10 answers · asked by Angrygirl5 3

I stay in a rented apartment. I have paid the flat owner Rs.80000/- with intention to buy the flat. Later I came to know that he has already gave authorisation to another party on a bond paper. He is having heavy loans all around. The only way I could get my money back is buying that flat and he is willing to sell it to me. The flat is having a loan of 4 lakh rupees with a bank who has the papers and they have issued eviction order due to non payment. They have agreed to transfer the papers to me if the owner gives it in wrting that he is going to sell the flat to me. But now I am in a fix can I buy the flat now and register the same because the owner says after selling the flat he would repay the person from whom he took the money and gave the authorisation. The loan bank says all the rights are with it therefore I can go ahead and buy the property. What trouble will I face from the bond owner will my registration gets cancelled or simply I cannot register. Pls help fast not much time

2007-02-12 16:19:12 · 1 answers · asked by ssmindia 6

Here is the situation:

I signed a one year lease in November of 2006, so my lease expires in November of 2007. This is is my second one year lease with the apartment managers.

I recentlly promoted at work and I am being moved to another city, about an hour away.

I found my first lease agreement and their is a transfer clause that allows me to get out of my lease with a 30 day notice and a letter from my company. However, I do lose my deposit ($300).

My newest lease does not have a transfer clause and the only thing close to it is a military clause (I live in a military town) that allows soldiers to get out of a lease if they receive orders taking them somwhere else.

I wouldn't exactly describe my apartment managers as friendly. They've been pretty strict with noise, littering and unauthorized vehicles in the apartment complex.

What can I do to get out of my lease?

2007-02-12 16:10:48 · 4 answers · asked by collegeboy2178 3

Again, I live in Michigan, and have been very financially responsible. If I can blame myself for anything, it was believing this state had a future.

2007-02-12 15:58:43 · 6 answers · asked by Tr0nik 2

need help with commercial leasing

2007-02-12 15:50:52 · 5 answers · asked by Anonymous

2007-02-12 15:30:26 · 4 answers · asked by Tiny Jr. 3

I currently have some houses that i am renting. I want to know if it is my responsibility to put refrigerator and dishwasher for the renter since I dont have them in my house right now.

2007-02-12 15:16:01 · 6 answers · asked by David 2

vendor advertised property through estate agent, buyer made an offer of full asking price which was accepted, the house was empty and the vendor was living elsware. all fees were paid by the buyer up to £1400 and at the last minute the vendor pulled out of the deal without giving an explanation. what if any is the procedure for the buyer to recoup expenses incured and lost due to no fault of their own. The vendor refuses to give a reason for pulling out of the deal either to their own solicitor or to their estate agent, why should the buyer lose out especialy when they were trying to satisfy the vendor with a quick sale as requested by the vendor in writing

2007-02-12 14:59:28 · 4 answers · asked by rabdin2002 1

I've been told it's called "off-setting" Is this true, and is it legal? Thankyou.

2007-02-12 14:31:21 · 5 answers · asked by Anonymous

I own a four family home with little equity and no help except my income which is not enough, how can i find ways to renovate my home that needs a complete roof, and all four bathrooms that are in very bad shape because of the bad roof. I had estimates for $15,000 which I cannot afford right now, very bad credit and not much equity in the property. I am a single mom with no help, I will act on all the advice I will get. I am desperate.

2007-02-12 14:24:11 · 4 answers · asked by jewbrod 4

My rent is current but we've had a discrepency regarding utilities because she lives in the garage and I'm in the house but the utilities are combined and I pay 75%. The problem is that in rental agreement, she didn't give a due date on the utilities and then proceeded to give me a utility breakdown 1-2 days before rent was due and then added it to her note thus making it look as if I was late because the utilities weren't included in the rent. This created a problem between us regarding what exactly was due because she tried to charge me a late fee after refusing my rent check even though it was paid on time. Now, her amount she's asking for utilities is different than what was actually due because she added on those late fees. Basically I believe she's upset because I won't pay a late fee when my rent was on time when she refused my check. I don't have money to move now and I want to know what is my next step after receiving a 30 day notice.

2007-02-12 14:13:16 · 8 answers · asked by HelpWanted 1

Can someone please spell out the steps to purchasing my first home? I'm 22 with perfect credit. What are the steps and the "tricks of the trade"? Thanks!

2007-02-12 13:46:32 · 7 answers · asked by legaleye2005 1

2007-02-12 13:01:39 · 8 answers · asked by Anonymous

I look at a lot of markets to buy small real estate deals in and I am wondering what criteria you use to analyze the market?

Things like:
Historical median prices
Job Growth/Unemployment
Population Growth
Construction
Rental Vacancies

What other factors are there that you think are important?

2007-02-12 12:52:09 · 5 answers · asked by Marcello 2

Im planning on moving into an apartment for the first time and Im hoping that some people here can give me some useful advice or tips :)

2007-02-12 12:46:59 · 3 answers · asked by . 5

I only lived there for a few months, I went back to school so I broke the lease, gave them a 30 day notice, cleaned & moved out of the apartment. I owe a lease termination fee +rest of the rent, but I cannot pay right now (or on time). I do intend to pay, will this go against my credit or when I apply for an apartment next time? What will happen? Thanks

2007-02-12 12:40:27 · 8 answers · asked by AO 1

2007-02-12 12:37:18 · 2 answers · asked by Kelz 2

Here's the deal... we have "sold" our condo and we are closing at the end of the month. The buyers just did an inspection which turned out to be very unannounced- the buyer's realtor left a message with our realtor, but our realtor never got permission from us. We heard literally as the people were pulling up to the condo that they were going to do an inspection. We had NO Notice, no time to clean and had no opportunity to remove the dogs. The buyers requested that we clean the carpets because they did not realize that we had dogs. We feel that because the realtor failed to tell us, that he should pay for the carpet cleaning or lower his commission to fix this problem. Can a realtor do either of these things?

2007-02-12 12:30:38 · 9 answers · asked by ChickaChickaBoomBoom 1

I would like to know about this real estate market business going on. My girlfriend is a realtor and she's in the real estate business. Lately, the real estate market has been going in a slump for the past month and so far, there have been many houses that are having open houses and the houses haven't been sold lately. What is going on? Is the real estate market going to be a slump. Are they going to laid off the agents? I just want to know.

2007-02-12 12:18:12 · 7 answers · asked by KrisMC 1

Hi, I want to move to Rochester, NY. Are there bad neighborhoods. What areas should I watch out for?

2007-02-12 12:16:53 · 4 answers · asked by MthrNatures_Son 4

2007-02-12 12:01:54 · 3 answers · asked by jay s 4

I am very interested in a house for sale in massachusetts where I presently live. The house is like a raised ranch style with 4 bedrooms,3 bathrooms and a half an acre of fenced in property. It does not need much except a good interior painting. The asking price is 252,500 with $2000 back from seller if there is an accepted offer by March 16th 2007. I need to know what I should offer for this home. It will be the first I have ever owned. It has been on the market for at least 5 months and a relocation company is handling the sale. Can someone help me ? The house is 1224 sq ft not including the finished family room w/fireplace and bathroom and bedroom downstairs, so I would guess that would make the sq ft to be around 1700 to 1800 sq ft. Can anyone help me figure out an offer?

2007-02-12 11:38:37 · 5 answers · asked by Anonymous

i own the freehold of a commercial property, but i have since sold the lease on it for the next 12 years. Can i use the Freehold to raise further funds without putting the tenant at risk if i failed to keep up with the repayments?

2007-02-12 11:08:37 · 2 answers · asked by bluecow 5

2007-02-12 11:04:14 · 8 answers · asked by Jessica 1

help!We went into forclosure and I filed chapter13.at that same time i was trying everything to refinance with another lender.i made 3 payments to the court trustee and had not made the payment to our mortgage company becouse we were all set to close on a loan and that ended on a bad unexpected note.my lawyer had my chapter 13 dismissed and here i am again trying to save our home.we have employment and equity in our house.please do not say sell.that is not an option.we have 3 kids and love our home."bad things do happen to good people".answer me if you know of a company that can help.thank you.we are not in forclosure again yet.actually even though the lawyer had it dismissed i have heard nothing yet from the court or the mortgage company.

2007-02-12 10:58:39 · 7 answers · asked by Bobbie 4

In March of 06 I moved into my 4 BdRm Apt and was required to pay a security deposit of $3000. 50% was required at the time I moved in and the remaining balance was spread out over a 6 month period at $250. In my lease agreement it states that after a year (March 07) of satisfactory payment history by resident payment history can be considered to then reduce the security deposit to $1500 - to credit back $1500 to the tenants account at the resident's request.When I rented this place it was owned by the State Housing Authority and was sold in September of 2006. During that time I began to have a leak in the roof and made multiple attempts to contact first the Housing Authority and then the new owner. Finally, this month a guy was sent out to survey the damage and I am now waiting for them to fix it. I called in and asked if I could get the $1500 credited to my account for March's payment and was told that I would only be entitled to that $ if I moved out. What can I do?

2007-02-12 10:56:08 · 2 answers · asked by cyclone66006 1

I am buying home, my husband and I found the home no realtor used. Do you think the new home (Pioneer Homes) will consider puting the realtor's 3% towards our down payment, closing costs or upgrades since they have put 3% in there for the realtor rather we have one or not?

2007-02-12 10:25:26 · 4 answers · asked by jonetta_williams 2

How can I apply for a hardship in order to be released from my lease contract? When I applied to rent the appartment I did not qulify for the apartment because my income was not enough. (I was not aware of this) Never the less the leasing agent said that I did qulified. After I moved into the appartment I found out that I did not qulify. Now I find myself in a positon where I can't afford the rent.

2007-02-12 10:18:40 · 3 answers · asked by AMELIA B 1