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Question by mkmdulay: What do I need to know about investing in “foreclosured real estate”?
I am a 21 yr old trying to invest in some real estate where do I start?

Best answer:

Answer by tsbr1963
its foreclosed for a reason. are you good at rebuilding walls, foundations, getting rid of termites, etc??? Seriously…a friend of mine does it and it works great…but it is hours and hours and months and months of rehab. I would contact real estate broker and go in that direction.

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Question by Eric R: What regulation do I need to know about to sell “Homemade” food online.?
I am looking to sell homemade candy online. What regulations do I need to be mindful of. These items would be considered “Homemade” and be in very small volume.

Best answer:

Answer by Pete C
call the health department on food regulations.

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Question by Hayden: Made an offer on a house about 3 months ago, still waiting…?
We made an offer on a house about 3 months ago (southern california/riverside county).. It is a preforclosure/short sale and the list price is 419,000. We offered 375,000. The real estate agent said that is would take 6-8 weeks possibly, but it has now been over 3 months of waiting and we are getting pretty impatient.

Every time we call the real estate agent he says there is “no news.” We would like to speak with the mortgage company for the seller as they are reportedly the ones holding up the process, but the real estate agent will not give us their contact info. Is this normal?

What should we do at this point? I have considered giving like a 5 day take-it-or-leave-it ultimatum to see if that “inspires” some type of action. There are no other offers on this house that we are aware of and it has been on the market for about 7 or 8 months.

Please advise!
Yes, a time limit was put on the offer, which has now expired. We do want this house, so if a higher offer is needed then what type of percentage would get the go ahead below the asking price… The cost isn’t really an issue, but we would like to get the best deal possible of course!

Best answer:

Answer by acermill
Whether or not you obtain the contact name of the mortgage holder, they’re not going to speak with you about this situation. When you engage in short sale offers, this response time often occurs. The lender is most probably not thrilled with your offer, and is biding time to see if a better one comes along.

Sending an ultimatum will be ignored. I’d recommend that you withdraw your offer and start looking elsewhere.

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Question by Glen: My property is in foreclosure and I’m receiving a ton of mail… I have a couple questions about they laws…
My property is currently in foreclosure and I’m receiving a ton of junk mail related to it. The problem is that allot of the postcards and envelopes state things such as “save yourself from foreclosure”, “stop foreclosure”, etc… What I don’t like is this makes everyone aware (i.e. mail person, roommate, etc) aware of the situation.

I thought that I had seen something before that there are laws against anything like that being on the outside… can you please let me know if that’s correct or if I’m thinking of something else.

Thanks!

Best answer:

Answer by rogueriverbob
mail people do not have time to read your mail,…..

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Myths About Real Estate Agents

There are some myths about real estate agents, many of which are not so flattering. But when it comes down to it, real estate agents are not too out there, and there is a logical explanation to each misconception. Let’s straighten out a couple myths and facts.

Myth #1: They have big hair.

Fact: Though occasionally real estate agents do have big hair, most are regular people who get up in the morning just like you do, and go to work just like you do. Many real estate agents, in fact, are going bald due to stress related hair loss. Same with the fancy dagger-shaped manicures; in actuality, many real estate agents have bitten their nails down to nubs.

Myth #2: Real Estate Agents drive luxury cars while talking on their cell phones.

Fact: Itâ??s true that real estate agents are often trying to do too many things at once, but they like to be careful about it. And though real estate agents would like to make a good impression on you, more often than not they drive Hondas and Toyotas and hope that their hard work will sell you, not their Lexus.

Myth #3: Real Estate Agents know your area.

Fact: Just like normal people, real estate agents canâ??t know everything. Though they do spend a lot of time driving around town, they canâ??t be in all places at once, and they themselves probably have preferences for one neighborhood versus another. Make it clear to your realtor what kind of area you want to live in, and they can help you look within that section of town.

Myth #4: Real Estate Agents live outside of time.

Fact: Real estate agents have lives too, and those lives happen to take place in the same physical realm as yours does. While it might seem like they spend a strangely disproportionate chunk of time speaking with you, they are actually trying to be as time-conscious as possible, so that you can move more quickly into your home and they can move more quickly to helping their next client.

Myth #5: Real Estate Agents just want your money.

Fact: What real estate agents actually want is an easy life. They want to help you find a home you love, and they want to make their (often small) bit of commission off of it (and thatâ??s off the sale, not out of your pocket). They do not want your soul or your firstborn, just some patience, consideration, and a positive home-buying experience for all.

Question by Stephanie P: Quick question about the book “A Doll’s House”?
I know Krogstad has children, but does he have a wife? I read in a character analysis somewere that he doesn’t but I don’t remember this. Anybody know?

Best answer:

Answer by Claire
Krogstad did hav a wife, i think she died

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Question by Radman: What should I know about buying a “short sale” house?
I understand there is no warranty and the buyer has to pay all the closing costs. Can I offer lower than the short sale listing price?

Best answer:

Answer by patrick
You can always offer less than asking. in addition, if you are using a real estate agent, you need to make sure the commission costs are included in the purchase price.
Be prepared for a long process. Bank owned property sales move at a snail’s pace. Often, the bank cant find the deed, because the mortgage has been sold so many times, so it would be prudent to ask if the bank has possession of the deed early in the process.

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All About Real Estate Agents

Real Estate Agents…..

Who Are They…

Real estate agents are professionals instrumental in connecting the buyer with the seller.

Additionally, many real estate agents manage rentals wherein they introduce tenants to landlords and oversee the maintenance of the property on behalf of the landlords.

In most areas real estate agents are required to be highly educated, licensed and are regulated by a governing body.

Some real estate agents are also Realtors.

To use the title Realtor, a real estate agent must be a member of the National Association of Realtors which in addition to a number of other requirements, requires Realtors to adhere to a strict code of ethics and offers Realtors additional educational and designation opportunities.

Though not required by rule or law, it might be a wise decision to seek the services of a Realtor.

What Do They Do….

Real estate agents bring together two or more interested parties, perform those steps necessary to successfully conclude a transaction and charge a commission for their services.

For sales transactions, they charge commission to the seller while for rentals, commission is typically charged the landlord.

Real estate agents generally calculate their fee as a percentage of the selling price (in the case of a sale) and as part of the rent for rental units.

How Do They Do It…

People who want to sell or rent their property leave details of their property with the real estate agent.

Along with all property details the real estate agent will typically have keys to the house to facilitate showings.

The other interested party (i.e. the buyer/tenant), gets access to this information and to the property by contacting the real estate agent.

That’s how the real estate agent becomes a hub of information.

Contrary to some common misconceptions, real estate agents typically represent the seller or the buyer but rarely both.

Why Should I Use One…

First and foremost, to protect yourself. Real estate transactions are highly regulated, highly paper (document) intensive transactions.

The real estate agent possesses an in depth knowledge of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction to the satisfaction of the buyer, the seller and the law.

Because real estate agents are most familiar with local real estate market conditions, it is wise and makes sense to seek the advice of one to get an idea of the current trends and pricing for properties within that market.

A good real estate agent will know the prices (or price range) of various properties of different types and at various locations within the region.

Because of the real estate agent’s knowledge and expertise, property sellers often get a few thousand dollars more for their property.

Many home seekers, including seasoned real estate investors use the services of real estate agents to locate the best real estate bargains in the easiest and quickest manner.

Furthermore, the best agents analyze the wants and needs of a home buyer/tenant and provide valuable input as to the kinds of properties available to them within their budget. Therefore, a good real estate agent will not just present a list of available properties to the buyer/tenant but will actually discuss their needs and make suggestions.

The good real estate agent, working in this manner benefits in at least two ways…

First and most obviously, when the real estate agent is able to successfully complete the transaction the commission is earned and the real estate agent is paid…

and secondly, if they make the customer/client happy they earn a good reputation and often receive referrals (hence more business).

Worth Noting…

It is worth noting that there is a myth floating around that real estate agents only work on behalf of the seller, buyer beware.

This is not written in stone nor is it always the case. Real estate agents are, in most regions, highly regulated.

With few exceptions, real estate agents work either for the seller (as is the case with many listing agents) or for the buyer (as is the case for a buyer’s agent).

Additionally, some areas allow for dual agency where an agent can work for both the seller and the buyer or as a transaction broker where the agent represents the transaction itself and neither the seller nor buyer individually.

However, in the case of dual agency/transaction brokerage, note that rule, regulation (law) and ethics do not permit the agent to act in favor of either party while in detriment to the other.

If you are unsure of the relationship between you and your real estate agent, do not hesitate to ask.

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