im currently renting a house with 2 mate, we all signed a lease for six months, and its coming to an end in a few weeks. thing is one of my ‘mates’ girlfriend is the realestate agent. me and him haven’t been getting along that well and now he wants to renew the lease with out me and get one of his other friends in. sept this place is the only place i can rent, i have no other options. the other guy on the lease doesn’t want to get involved. so pretty much i want to know if the guy who wants me out can get his girlfriends mom the realestate agent to renew the lease without me in it? we all went equal halfs in the bond so what will happen to that? also how long do i have to get out if the lease is terminated?
I’d suggest you find another place. Unless you’re in a rent controlled area, I doubt you have many rights when it comes to lease renewal. The least of your problems is the place you’re living; your bigger problem is the quality of life you’re living with in your current environment.
Negotiate with them to return your share of the security deposit and any last month rent in return for your agreement to find another property. Your current lease has a date on it though it may be a "term" as opposed to a specific date. Yes, you need to read it since it may give you other rights I’ve not considered.
I know moving isn’t fun, but neither is being in an adversarial position with roommate.
Good luck
I am new at investing so i need some help to get started. and to make sure if its worth jumping in right now since it has been dying down.
I wouldn’t pay too much attention to NATIONAL media reports on real estate which report a cooling off period recently. Look at your area. Are area businesses doing well? Are they hiring and investing or are they laying off? That will tell you if people are likely to be moving into the area, and therefore, potentially buying a home.
However, when it comes to pre-foreclosure homes, it’s more complex. You really want to focus on the home and specific area where it is located. If you are in an areas where business is doing poor, more pre-foreclosure homes will be available but not many perspective buyers. If business is doing good, well, less pre-foreclosure homes, more competition, but quicker turn-around times.
You have to think this through on a local level, not a national one, especially when it comes to pre-foreclosures. I WOULD NOT buy a pre-foreclosure home in an area where prices have already been driven to record highs. Honestly, I would focus, generally, in less populated areas that did not benefit from past real estate valuation growth. Internet commerce and home/office technologies make these areas ripe for future valuation growth and plenty of pre-foreclosure opportunities exist for investors.
What does the sales price of a home have to do with anything. It does not cost any more to sell a $200,000 house than a $400,000 house. Why is not based on a flat fee? Sometime the Realtors make more than the homeowner does. This seem to be one of the largest scams played on the american public today.
It’s not a scam. Realtors admit they get a fee. They’re required to by law, like all commission sales people.
In a lot of cases, the Realtor’s office gets 3% of the final sale price, and the Realtor him/herself gets 3%. But remember that the 3% is what the Realtor *lives on*.
They do not get a salary, nor do they get a steady paycheck. And they paid some money and attended a training program (sometimes a couple, depending on where) in order to become an agent. A Realtor is even more elite. They paid to play, and they’re working for however much they can get.
Every self-employed person lives by the motto "haud opus, haud victus… no work, no food."
3% of a $200,000 house is $6,000… but how many months did it take to get that money? And remember, Realtors pay taxes _after_ they get paid. Their earnings are not conveniently withheld so they can just blow their money. Up to 40% of what they make goes straight to Uncle Sam, for the sweat of their backs.
The less guarantee there is of a pay-off, the higher the risk of days without food and of getting the electricity turned off, the larger the ultimate pay-off should be. IMO, that’s the American Way.
Hope that explained.
im a single mother and i just got section 8 so im looking for an apartment, but i wanna move to the bronx and im in long island so i cant be going to the city all the time to be looking because of my job . i only got saturday but the realty’s are charging 1 & 1/2 month rent. i need help please.
That is how rentals are done in NY, there is no getting around it.
Talk to your case worker, they might pay for you.
I live in NC. Im not sure if that matters. Anyways, my friend is looking for a house and he has gone with someone who has just finished up their realestate classes and recieved their license. The realator calls my friend and tells him "Hey I got a number of a guy YOU need to call and talk to…I think he will give you a good rate." He has yet to help him even FIND a mortgage company. I dont think my friend knows where to start. he assumed and so did I that the agent was supposed to help with that. Am I wrong or should the agent be taking the personal information to find him a lendor or at least giving him a list or lenders to contact?
Thanks for all your kind answers!
First of all, I think I would rather work with someone more experienced, as buyers need considerably more expertise than a newbie can provide.
As for mortgage and closing that is up to the buyer. As part of my services, I generally give me clients some names and let them choose. They should talk with at least three lenders to see what different programs are available and of course rates. While I can make arrangement for closing, I always ask if they prefer one place over another. Most folks don’t know title companies like they do lenders.
Nowadays, some Realtors (depending on the client relationship) do not want to know the borrowers financial information. For example, if the borrower is purchasing a property the agent has listed (dual agency), then it’s best if the borrower keeps his financial information confidential. Since I am not a mortgage professional, I leave most of the qualifying up to the lender. I am happy to accompany the client to each lender, but it’s not necessary. If I’ve worked the area for awhile, I know most lenders. And in some places, each real estate company has their own loan divisions and/or title companies. Again, the buyer can select whom they want to work with.
If I can help further, just email me. Hugs from Minnesota!
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.
I don’t have any money for down payments, my income is low, (about 3,500 per month), my credit score is low, and I’m in the process of selling my home in a short sale. I want to create this cash flow as a means of supplement income and then eventually my main source of income. Is this doable?
You may have to wait a bit, but don’t worry, housing prices will probably drop some more.
I suggest buying a rental unit and living in it. Your tenants can pay your mortgage-or at least most of it. Research the tenant-landlord laws in your area as well as financing options and prices of multi-unit homes.
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