What is the customary commission for a Real Estate Agent?

Posted on July 21st, 2010 in Renting & Real Estate | 3 Comments »

Roger N asked:

When a Real Estate Agent represents a lender ie: a foreclosure, what is the customary commission? ie; a house sells for $280,000. What is the % commision. How does that translate into dollars? IF I can come to an agreement with an agent to give me a commission for sending a buyer his/her way what % of commission should I reasonably expect? Would it be proper for me to expect for that agent to spell it all out in writting?

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Who pays the real estate commission in a short sale the seller or buyer?

Posted on June 18th, 2010 in Renting & Real Estate | 3 Comments »

Joe asked:

The bank insists I put the house up for a short sale before they agree to allow me to deed it back in lieu of foreclosure.
Do I have to pay the real estate commission if it is sold in a short sale?

Mar Vista Real Estate

How do allowances work in real estate?

Posted on May 16th, 2010 in Renting & Real Estate | 2 Comments »

fun_runner_girl asked:

Our mortgage lender offered us a $3000 appliance allowance for the home we are in the process of purchasing. 3 days before we found this out, we bought appliances ourselves. Can someone tell me how real estate allowances work? We live in Wisconsin.
The home is a foreclosure and does not have appliances. The lender thought this allowance would help us out.
We close next week. I can return these items before they are delivered in 2 weeks.

Chicago Il Real Estate

What is the difference between a real-estate appraisal on your home’s value and the tax appraisal value?

Posted on February 26th, 2010 in Renting & Real Estate | 5 Comments »

EM asked:

Currently, I only know the tax appraisal 109K, from the home I am planning to buy.
(Home built in 2006, around 1500 sq)

How much of a difference can I expect from the real estate appraisal? Lower or Higher?

Are homes usually valued around the same as the tax appraisal?

What kind of problems can I face if the appraiser values the home too low or high?
The appraisal would be for the purchase of a home, right now the asking price is 96K( it’s a foreclosure).

Flathead Lake Real Estate

real estate?

Posted on February 10th, 2010 in Renting & Real Estate | 6 Comments »

Araceli Q asked:

my husband co signed for my father in law when he refinanced his home. My husband wants to be removed from the loan as well as the deed. Will a real estate attorney be able to help my husband eventhough the home is on the verge of foreclosure??? My husband has never lived or held any interest in the home he just did it as a favor to my father in law.

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Do you need a real estate agent/broker license to be a real estate investor?

Posted on February 6th, 2010 in Investing | 2 Comments »

nyc_eem asked:

I want to personally invest in foreclosure / or short sales. I do not have any licenses. Do you need a real estate agent/broker license to be a real estate investor (foreclosures)? And if you are a broker or agent, what are the benefits when you are doing a private deal?

Walk In Bathtub

How would one buy back a piece of commercial real estate that he just sold?

Posted on February 4th, 2010 in Renting & Real Estate | 3 Comments »

Jazoney asked:

Without looking for a foreclosure, how could an investor buy-back the piece of real estate that he just sold, at a better price? Is it possible? After the closing of the deal what possibilities are there for the person to buy back that property, is there a common process to do this? What are some options to do this, if it is even possible?

Chicago Il Real Estate

What can I do to sale real estate in a bad market?

Posted on November 29th, 2009 in Renting & Real Estate | 4 Comments »

feeling groovy asked:

I have a piece of commercial real estate in a small montana town. It just went into the foreclosure process so time is of the essences. It’s been on the market for 2 years, it’s price point is right and it is prime real estate in a difficult location.
The good qualities are the town host the hottest mineral healing waters in the world. I am at a lost as to how to market this and get it sold!
Any thoughts?

Huntsville Relocation

How do I invest in real estate if I had a foreclosure in the past?

Posted on November 3rd, 2009 in Renting & Real Estate | 4 Comments »

Miss Piggy! asked:

I had a condo in Vegas that got foreclosed on a year ago. How do I invest in real estate with this on my record? I have about a 30% cash down payment for the properties I’ve been looking at.

Bradenton Florida real estate

Is it beneficial to have a real estate agent when buying a foreclosed upon home?

Posted on October 17th, 2009 in Renting & Real Estate | 8 Comments »

Artist at Heart asked:

We are just beginning the home buying process. We have no home to sell (first time buyers) and were thinking of getting a real estate agent. However, I know we would have to sign one of those exclusivity contracts and, if we buy a foreclosed upon home, their comission would have to come from somewhere (us?).

If we are even considering buying a foreclosure, should we sign up with a real estate agent?

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