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Recent Appraisal questions
I'm hoping someone could help me with this question We are
Hi thereI'm hoping someone could help me with this questionWe are in the mist of selling a portion of our proberty 65' which leaves us around 155' of backyard. There are two proberties that the developer wants to build on ours and are neighbours. Today we went to the royal bank to see if we could get a release form for the buyer apparently our lawyer said we did not have to do this however the buyer said he has to have the release paper. We went to the bank where the person who we saw did not know what to do so he contacted his head office where they told him we would have to have an appraisal done on the proberty which would be around 500.00 then she also told him that we would also need to fill out a full credit application which got my husband very upset why would we have to fill out an application form since we are not applying for credit the person could not tell us why. It's not like we owe a lot on our mortgage we only owe 110,000.00on it and are receiving 100,000.00 for the proberty. Why can't they just give us a release form? It's bad enough that we have too dish out 500 for an appraiser. Any feedback would be greatly appreciated thank you Linda Gerus
My xboyfriend and i own a ct condo on the market for sale 2
My xboyfriend and i own a ct condo on the market for sale 2 yrs now. We assume high fees are reason for not selling along w/ yrly assessments, many rentals. We want to leave the property as no money will be made if sold and we will owe bal of mortgage. Unit appraised at $119k i believe, mortgage is currently $110k. On the market for $99k now. What is the best way for us to back out re tax ramifications? Short sale, foreclosure, deed in lieu? And do we just leave and the bank notifies us separately?
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In my 3rd year of divorce proceedings House was originally
In my 3rd year of divorce proceedingsHouse was originally appraised last August 2015 for $283,000.00 and our other lot for $132,000.00We mediated last week and basically added both properties and divided by 2. We each had$ 207,500.00 valueSo I am keeping house he is taking the lot and I am giving cash difference which came to $75,500.00He wanted $188,000.00 I offered $100,000.00 to give extra for the 19 yr old furniture they came back and said $175,000.00My attorney said let's leave not going to get anywhereNow they want to get another appraisal after a yr of the 1 st appraisal being ok, are they allowed to do this??? They are going to keep getting appraisals until they get a money figure were I have to pay him more money than $100,000.00. Can they do this? Legally
House in Harrisburg - lease option from October 2013 for
House in Harrisburg - lease option from October 2013 for $1200.00 per month with $300 to be held in separate account to be used as down payment or if lease is broken, then it be retained by myself. Appraisal came back at the market value of the selling price. However, came back that the $1200.00 per month was not fair market value and the tenant could not use the funds as the down payment. The bank, Wells Fargo, claims there is a Federal Regulation that states the above is correct and therefore we cannot close on the house - the tenant's application has been denied. Is this correct??
My mother is 82 year old who lives in Georgia and the real
My mother is 82 year old who lives in Georgia and the real estate agent coerce her into selling her property without getting approval for a mortgage to purchase a new home. It was brought to our attention a week ago that the contract was already signed and she is without a new home. A previous discussion with the agent explicitly stating that the property should not be sold before a guaranteed loan approval. I would like to have this contract cancelled, is the possible?
Executor ordered Date of Death EXTERIOR only appraisal for a
Executor ordered Date of Death EXTERIOR only appraisal for a Noe Valley San Francisco County, CA 3 unit apartment building. Appraiser estimated the rentable square feet to be 2770 sf. Actual rentable square feet turned out to be 2880 sf when measured by the broker. The appraisal room count was off missing 1.5 bathrooms, the neighborhood was also wrong. We are using the appraisal to establish Date of Death real estate value for tax forms 706 and 1041. Should we go back to the original appraiser or order a new one with the hopes of increasing the appraisal with the extra square footage and extra bathrooms on this property? How much difference would that make in the final appraised value?
I'm the victim of a theft that took place in a home where I
I'm the victim of a theft that took place in a home where I was renting from the renter of the home. This person (renter sublet to me)was evicted by the actual owner. Before I was able to retrieve my belonging, the home was vandalized causing me to lose a significant amount of expensive musical equipment..what options are available to me in the way of restitution?
How can I close on a home when the owners are deceased andView more real estate law questions
How can I close on a home when the owners are deceased and there is no Will and no Executor? They put the home up for sale and then died after we signed a sales agreement. The loan was approved, the home was appraised, and now the title company won't close because there is no one to sign for the owners at closing.