Answers by Keith Jean Pierre

Speak with a mortgage lender, but if you do not qualify for a traditional mortgage product, your options are going to be severely limited. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

You tend to be responsible for the default balance unless another agreement is in place. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

A cash-out refinance typically requires a 6-month waiting period ("seasoning") from your original purchase date, meaning you generally cannot pull cash out immediately without waiting or proving added value. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Marisol, trying to sell a home in another state on your own is frankly impractical. Who will handle the showings, coordinate with prospective buyers, address unexpected issues, and manage the details that inevitably come up during the selling process? Selling a property from a distance without professional representation will only lead to a significant discount on sales price. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Brody, no one is tied to accepting your offer. If they have not responded, it is most likely not worth responding to. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Juniper, this is based completely on your personal situation, but the most important factor is do you want to be a landlord? This is definitely not for everyone. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Shane, homes located on main roads generally tend to sell for less than comparable homes in private subdivisions, on private roads, or on quieter streets. Unfortunately, there’s not much you can do to overcome this factor, as location plays a significant role in a property’s value. As the saying goes, location, location, location. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Buy out or sell the home all together and split the proceeds are the only two logical plays. Selling to a completely different individual adds further complications that I have a feeling neither of you would want. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Tammy, you will still be responsible for a large portion of the purchase even if you are granted a partial grant to purchase a home from a government program. This means you would still be subject to all the income requirements for a mortgage given you obviously do not have the capital in cash. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Graham, as a person that does not hold a real estate license, you will not be getting the real estate commission. Hire an agent so you do not get screwed. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Peyton, is the lien a result of your families doing? If so, you would most likely be responsible. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Typically, these properties are sold without interior viewings so a good look outside of the property is essential. Suggestions for minimizing risk would be reviewing recent comparable sales and estimate the property's value VERY conservatively, check public records for fire damage, building violations, and major repairs, look for visible exterior problems such as roof damage, foundation cracks, and neglect, and most importantly, assume the home could need substantial repairs, and include a contingency in your budget. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Pam, this is all dependent on your personal preferences and tolerance level; but most important is the price you are securing the property at. If there is a significant discount under market value, then this can have significant potential upside. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Ernest, I would suggest you speak with a real estate attorney to discuss your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

This is definitely a personal decision. I would suggest speaking your financial planner to determine the pros and cons of each. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

I would suggest speaking with a financial advisor to determine which option is better for you as we do not know the intricacies of your financial situation. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Arthur, the listing agent is employed by the Seller so if the seller asked them to put a lockbox on the property, they are just following their instructions. I would suggest you refer to your lease regarding what the responsibilities are for each party. Typically, a notification timeline is established in the lease for showings if there is a clause allowing sale (which most standard leases have). Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sarah, this answer is not regional. Typically, a seller will hire the company to clean out the property. The realtor can assist, but payment and formal hiring is almost always handled by the seller unless another agreement is in place. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Opendoor has full ability to change their offer or cancel the purchase until an executed agreement is executed. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Meredith, you should have expressed expectations upfront so that you both are on the same page. I would suggest doing this now or finding a new agent that can meet your expectations after your buyers agency agreement expires. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Corinne, sounds like you went with the wrong agent. Depending on your contract, you might be able to get a termination. I would speak to them to discuss your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Bridget, your property might still be overpriced. Just because you did a price drop does not automatically mean there will be additional activity. Additionally, your photos could be bad, the property could not present well, etc. Without knowing the address, we would not be able to determine the exact cause. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Weston, you need to speak with a mortgage lender to determine your eligibility requirements. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Stephanie, I would suggest Googling your town followed by Legal Aid Foreclosure to assist you. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Harper, they found evidence prior to closing, still continue to purchase (as-is nonetheless), and now want recourse? This sounds like a relatively open and shut case. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Dakota, what does your contract say? Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Jaylen, speaking with a lender will shed some light on your particular situation. Unfortunately, we do not access to all your FICO scores, monthly gross income, and your credit report to determine your qualifications on here. Just as an FYI, typically a 580 FICO is the minimum requirement. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Eleanor, we would need additional information to make a proper assessment. Zoning? Any improvements? Any hookups? Feel free to reach out directly if you want to discuss further. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Briana, you need to speak with a lender to discuss your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

James, hiring an attorney is going to be your most cost-effective option as going into this process without one opens you up to much larger possible liabilities. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Nina, sorry to hear about your situation. If you are referring to a purchase, this is going to require pre-qualification for a lender if you are financing and not paying cash. If you are inquiring about renting, there are specific programs you might be eligible for by calling the local township housing authority. Good luck with your situation. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Spencer, I would suggest speaking with a real estate attorney to make sure you are fully protected. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Your own policy to prevent any complications if a claim is necessary. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Garrett, the more important question was what the exact agreement said and were they okay with you leaving the washer and dryer. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Legal agreement with a real estate attorney. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

This depends on what you negotiate. Just remember you get what you pay for so if it sounds too good to be true, or you are trying to get the lowest rate in your negotiations; it will most likely not result in a productive result; especially in this current economic climate. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

This depends on what your contract says, but typically, you would be responsible for all costs associated, since you are the one introducing the complications. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sounds high based on your discuss qualifications. Shop around,. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Yvette, speak with a mortgage broker to discuss your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

I remember this post on Reddit. As discussed there, I would suggest heavily looking into your financial situation first before purchasing a property as with a little down payment and savings; you open yourself up to financial disaster is anything goes wrong with the property. You are going to want savings available to weather the rental vacancies or home repairs. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Harlow, I would suggest that you should not purchase a home based solely on the Airbnb potential as if things change, you are subject to SIGNIFICANT market swings. But to answer your question about the two options; house hands down over raw land. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Remember seeing this on Reddit. Sell and move on. Renting can be a reasonable backup option, but for someone who isn’t already a landlord or has any desire to become one, it often creates more stress and expense than it’s worth. Between vacancies, maintenance, tenant issues, and the ongoing management involved, the financial upside is rarely significant enough to justify. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Julie, home insurance is what you are looking for. Give a few local insurance companies a call to get your coverage. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Trevor, so if your note says 4.75% FIXED, the end of the 2-1 buydown shouldn't cause the rate to become, say, 5%, 6%, etc. Instead, the payment simply steps up to the contractual payment associated with the existing 4.75% rate. If it becomes adjustable, then that is subject to market volatility. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Callum, you can't make the decision based on how much you originally paid or how much you’ve already spent on improvements. Those are largely sunk costs. The key question is whether, from today forward, keeping the house provides enough financial and lifestyle value to justify continuing to own it. It also depends on if you can afford the loss. Do the math and then make the necessary decision. The market is not increasing anytime soon, so if you decide to stay, you will be there long term. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Holden, speak with a real estate attorney. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

As others have said, buy out or sell the home all together and split the proceeds are the only two logical plays. Selling to a completely different individual adds further complications that I have a feeling neither of you would want. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Desmond, this is normal. Escrows can change when taxes change. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Linda, speak with your accountant. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sue, if this is outside your purview, this is going to be a monumental task. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States