Answers by Keith Jean Pierre

Maggie, if you and your friend are close, all you need to do is discuss the parameters to ensure it does not ruin your friendship. The more important question here is do you feel that your friend is a good enough agent to represent you. If the answer is yes, I am sure you can work out the details to prevent it souring the relationship. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

I am sorry, but I do not understand the question. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

To be honest Mike, $360K on a $395K asking is not a low-ball offer. Now if the offer was $300K, then that would be a different case, but regardless of the offer, you can counter at a realistic number and evaluate their response. I always tell my sellers to not take a lowball offer personally, everyone including yourself, would love to get a great deal. I inform my sellers, respond to the first lowball offer with a counter, and if it is lowball a second time then you move on. There is no harm or additional effort for you to counter a lowball offer vs a closer to ask offer. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

If there is no mortgage lien on the house since your father paid it off, why would you need to inform the bank you are selling the home? Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

You would need to refer to the agreement to see how long the term is on the agreement. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

A good Google search can get you started. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

This is HEAVILY market dependent. Personally, our team does not do open houses unless the owner requests them or it is part of our marketing strategy; typically auction style listings. Otherwise, especially now, open houses tend to be rather quiet bringing in the neighbors, less motivated individuals, or buyers already represented by agents. As a result, it tends to not be a productive use of time for our clients and ourselves. Private showings always tend to be more beneficial. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

You can pay your own taxes depending on your mortgage company rules. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

They should be the same. Escrows are used when purchasing a property. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Highly recommend speaking to an attorney on the matter as no one on here is more qualified than them on this matter. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

18 unless there is a special circumstance and a trust is utilized and set up by your parents. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

If you are negotiating and do not have a signed fully executed contract, all bets are off because nothing is legally binding. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Is the buyer licensed? Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Speaking with a mortgage professional can give you a much clearer understanding of what your affordability is. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Only spend what you are comfortable spending. There is nothing worse than being house poor and adding more stress every month. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Unincorporated areas often have lower taxes, particularly lower sales taxes, because they avoid city-specific municipal taxes and levies. However, this is not guaranteed, as lower taxes can be offset by higher private service costs (e.g., trash pickup) or special fire/utility district fees. While you may save on city taxes, you might pay higher county property taxes. Best of luck with your search! Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

If you have a 90 day agreement, on day 91 you should be able to do whatever you would like. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

This most likely won't come up to the lender. If you want peace of mind, you can get an after-sale warranty through a company like AHS. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Yes this is possible but divorce law can affect what happens if a divorce occurs. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

The seller can back out at any point and time, but there are repercussions depending on the timeline. Right before closing would most likely result in a breach of contract claim from the potential buyer. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

This usually means the property is cleared of all personal belongings, trash, and debris, with floors swept or vacuumed Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Typically if the contents are not removed for your final walkthrough right before closing an escrow will be held and a solution will be determined; whether the seller comes back and removes or you hire a company to do so and cost is subtracted from the escrow. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

I would suggest speaking to an attorney regarding this matter as we can not give legal advice, but a 17 year old claim is most likely going require proof that you hid this material fact. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Weekly or bi-weekly mortgage payments is the easiest way; this allow you to pay off sooner. Lower interest rates are only accomplished if rates fall and you refinance. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Speak with their broker. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Which tax are you referring to? Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Typically, an appraiser will draft the appraisal at the sales price regardless of if it is higher or not. Additionally, the appraisal is given to you and not the seller so the seller never needs to see the report. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Is this your home or is this a home you are looking to purchase? Typically, a foreclosure is due to a lien and the lien would need to paid off. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Give a call to the listing agent or you can wait until closing and there is a new application in for the property. Unless your HOA bylaws state no investors, I would imagine there is not much that you can do in this regard. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Many lenders and real estate agents offer first time home buyer seminars in your market. That would be a good start. You can also Google some options as well. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Do you have a mortgage on the first property? The way to do this would be a home equity line of credit and use those funds to purchase the second property and then sell the first once you close. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Probate which is a lengthy and rather frustrating process. If you want to prepare, set up a trust. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Depends on your market but the general consensus is that land is not a renewal resource. Once it is gone, it is gone. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Rent to own is unfortunately not a very popular program any longer. Only tends to exist on any scale when the economy is in severe constraint. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

You have no walls or floors, this is not a finished space. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Did you have a home inspection? Keep in mind, your real estate agent was not your home inspector. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

No, you are generally not personally responsible for your father’s mortgage or debts unless you co-signed, are a joint owner, or live in a community property state. Debts are paid by his "estate"—his assets (money, house, property)—not by you. If the estate cannot pay, the debt usually goes unpaid. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

I am gathering there wasn't an agreement in place in case this happened so a lawyer will definitely be essential in this process. They can iron out all your options. Best of luck! Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

If you do not have the interior of your house photographed, then you will have SIGNIFICANTLY less traction to your home, therefore resulting in a lower than market sales price and longer timeline to sell. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Are they citing Eminent Domain? Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Have you shopped around for a new home insurance company? Given that Florida is consistently reassessing due to natural disasters, unfortunately this is the new normal. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Successfully contesting an appraisal these days is a rather difficult task to be honest. I would see if the seller is willing to split the difference with you. If not, make a determination of whether or not the house is worth walking away from based on $10,000. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

You do not need to, but I would HIGHLY suggest you do. Pre-Approval should be the first step in your process. You want to know what you can afford before you look at homes and possibly waste your time. Additionally, with how aggressive the market is right now, waiting a day or two after seeing a home to get pre-approved will result in you losing out on popular homes more often than not. Best of luck with your purchase. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

As a seller, rent to own is basically becoming a landlord with the rare chance that the tenant purchases the property. Personally, given the way the market is, I would traditionally sell the property as the additional headaches of becoming a landlord if it is not your purview is not worth it. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Completely depends on your rent back agreement. Typically, a rent back is given as a courtesy so I can see how the new owner has become annoyed. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

These are typically cash sales unless you can get a 203K renovation loan. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

There is no standard time but in our experience, we have seen a minimum of 90 days. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

What is the question here? Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

In Massachusetts, a legal bedroom must generally have at least 70 square feet of floor space (50 sq ft per person in multi-occupant rooms), a minimum 7-foot ceiling height, a direct exit to a hallway or common area, and an egress window for emergency escape. A permanent, safe heat source is required, but a closet is not strictly required by state building code. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

You can ask your agent directly how many home sales he has represented. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA