Mortgage Appraisal List
Do you think I have a case for civil action against a realtor?
We found some land we wanted to buy and made an offer with a realtor. Our realtor contacted the listing agent, the listing agent contacted the party who listed the property and they accepted our offer. We put a “good faith” payment down and I signed a contract to remit the balance within 30 days. I initiated a mortgage on my primary residence which involved substantial closing costs, title search, appraisal fees, etc. Three days after my loan was closed, while we were waiting for the deed to be prepared, yet another realtor made a slightly higher offer on behalf of her sister. What she knew that we laymen did not know (nor apparently my realtor) was that the property was listed by a trustee and they would take a higher offer within 20 days of my initial offer. She did this directly with the trustee despite the listing realtor telling her the sale was pending. I am livid.
Can we seek civil action? There is nothing illegal, but to me it reeks of being unethical.
I suggest you contact an attorney as I am not a lawyer and am not providing legal advice.
With that said. I do not know all the details and you didn’t provide them.
Look over your contract. As a Realtor I don’t see how if you had a contract they could just go and accept a higher one *unless* you signed something saying as such (a kick out clause). In which case you would have signed saying that you are aware. But, typically a contract is a contract and rather than sue your Realtor you would have to sue the property owners.
Now, if you never signed anything to that effect you do have a case and its not against YOUR agent unless you can prove that your agent knew and didn’t tell you.
Now. Was your contract congingent? Did you breach? Did you meet all your deadlines? Without really knowing all this its hard for me to say.
Your first step is to contact your agent and have her explain in detail exactly how this happened to you. Your next step is to contact her broker. The third step is to contact a real estate lawyer. But, most importantly look over everything that was signed.
Hard Money Loan Contract
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The above mentioned are the basic requirements in order to qualify for a home loan. Secondly, I was interested to know how big a home loan I could get considering Mortgage Appraisal List. As soon as I knew how much, I could start searching for a house.
Mortgage Appraisal List
Should I sell my house and take a loss, or rent it out and hope for the market to improve?
I bought my very first condo during Sept. 2006; however, this last month I recently accepted a job that will relocate me from CA to AZ. My new company will pay for all costs associated with selling my place (i.e. realtor/closing/appraisals); however, I am responsible for any loss that results from the depreciation of my property. And, as many of you know, the market out here in CA has taken a turn for the worse. My condo which valued at 376,000 less than a year ago is now worth as little as 355,000. I’m listing for 369,000 and hoping for the best; however, I know that i’m going to end up paying an arm and a leg to get out from under this place.
Would it be worth it for me to rent this place out for 6-12 months in hopes that the market conditions will improve? I won’t be able to find a renter for what I pay per/mo in mortgage payments, but I should be able to get enough to cover my rent for a new place in AZ.
What should I do? I’m so lost =
If you can’t rent it for at least it’s payment, cut your losses and sell! I have some rental property and there is no way I’d pay someone to live in my house. That is what you are doing if you rent it for less…