Real Estate

Not sure if that was the best way to phrase this question but ill explain: The house in interest is a REO property. Originally, we offfered on the house, it was accepted, we signed our portion of the addendums, and when we were waiting for the bank to sign their addendums the listing expired so apparently our offer was void. Then, we contacted the new listing realestate company, and made an offer, while we were waiting on the addendums to come back they called us and said that they did not want to do our fha 203k loan, and would drop the price by 10k if we did not. So we did what we could, and found a new route and the house would not be shown to any other interested parties. Then we get a call that the bank has recieved some cash offers during this time from people who never even got into the house. Since the cash offers were less but close to ours, they want to know our highest and best offer. What should i do? Is this even legal? Does it violate any fair housing laws or anything of that nature?
any help would be great!
Thanks

Yes, of course this is legal.

I do not know where you got the idea that property can’t be shown, but until there is a signed sales contract they are free to show and sell it to whoever they wish.

do i need to get a realestate lawyer? who pays closing costs, building inspectors and whaterver else needs to be done?

Getting an inspection would be a very good idea, preferably someone who knows mobile homes.

Are you just buying the mobile home or is there land with it? If there’s land, definitely get a real estate lawyer to handle the paperwork and closing.

If you are just buying the mobile home and no land, it may be more like a car sale. Many states title mobile homes just like a car.

My mothers landlord has sold the property and was notified today that she has to be out by this Sunday.Does any one have some advice? There is no written.signed notice giving them enough time to move out. The only thing is that she was on a month to month lease due to the fact that the was house put on the market. She has two disabled sons and my sister and her three daughters live with her. It too much of a short notice for them to find something. Can any one help if I provide detail needed.

A month-to-month tenancy requires that they give 30-day notice to vacate, no exceptions. I’m sorry to hear this happen right before Christmas, truly, the landlord has no heart. I’ll say a prayer for your family.

I accepted an offer for my house 3 days ago. But things have changed and I no longer want to sell. The potential buyers paid a $500 earnest deposit to their realtor other then that the home inspection is due to take place tomorrow. Can I decide at this point not to sell and keep my house?
I accepted the offer with a POA (power of attorney) from my husband who is away. No one took a copy of the POA. I have agreed to paying $1000 towards any repairs found by an inspector, but I agreed to this thinking that this money would be given to the buyers at closing. Not knowing that the repairs would have to be done prior to the closing. I only found out about that after the counter offer had been already accepted. Now it seems like I am going to be out alot more money then originally thought not to mention my children don’t want to move. I just don’t know what to do.

With you only accepting the contract 3 days ago I am assuming that there are still contingencies on the contract. There are contingencies on your contract for things like attorney review, inspection, mortgage contingency. You should have like 5 days for you attorney to review the contract and give the go ahead on whether to go forward or not. That might be an out because if you have 5 days for the attorney to review the contract and they do not respond within that time period then the contract is voidable. Also if the inspection comes back unfavorable and they ask for a credit for the repairs then that is another opportunity to just turn it down flat and walk away. In short contingencies are the only way that you can get out of your contract. Hope I helped.

I mean due to financial breake down will the realestate come down in the coming year.

down trend not likely. it may stay in present level or in the upward movement

the present recession pushed everything to lowest end

considering the fuel price at below $50 and indexes of various stock markets which are also at record low in the recent years, every thing will tend increase only in the year ahead.

I’m trying to get into realestate and retail sales. who , where or what do i need to do to get grant money help me please!

unless you are going to specialize in either agricultural areas or distressed neighborhoods…..there is no such thing.

http://realestate.yahoo.com/Missouri/Springfield/s-glenn-ave:23ebfdb6608a42ada297f2e22dab03c;_ylt=AhZtiGMZZhxqX1p.m9kVHsYN47Qs

I was browsing through these listings and I came across some foreclosures that seem to be priced at a too good to be true price. Should I buy these or is there a catch?

The amount listed is the amount on which the current owner is deficient in payment. The house will be sold at public auction, and the MAIN bidder will be the lender involved, who will bid the price up to a point at which it will accept. If no one bids high enough, the lender will be the high bidder, and will take the property as lender owned.

Don’t expect to get it for just over $9,000 unless that is all it is actually worth.

Realestate

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http://www.keralaroom.com/

Hope this will help you.

I am thinking of making a down payment of 45000 and buying a house in houston on 15 year mortgage. After 10 year when my kid goes to collecge i can sell the house and pay for college. is that a good idea?

no.

My boyfriend is a realestate agent. His sister is a doctor and wants to purchase some land that will give him a commision of approx. 40K. His sister does not want him to have it b/c, she does not want anyone else in the family to have money but her. So she told him that she could not use him in the closing and he would not be able to get the commision because the loan officer will not give her the loan if she uses him as the real estate agent. He has recommended a friend of his(loan officer) that she should use.From the origination of this sale, my boyfriend has handled all paper work, faxing, calling,setting up meeting, appraising, etc (fall 2005), now she is saying this. The closing date is scheduled for Apr.2006 We dont believe her. We live in Raleigh, NC. Please help us.

Tough call. If your boyfriend can document everything, he can sue her for the commission amount.

But…

There is ONE CRUCIAL document that will make it really easy for him. If the sister signed a buyer’s representation agreement, it’s a slam dunk for your brother. If you don’t have this document, dig in your heels and get ready for a court battle.

Bottom line is if your boyfriend can prove everything he did, he’ll likely get compensation. But it’ll take a court order to get it.

Good luck.