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All Forum Posts by: Digger Odell

Digger Odell has started 11 posts and replied 27 times.

Post: How to convert a deed to my name

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

Thanks. 

This "we the people" firm has no offices in Connecticut and I find no "legal scriveners" offering their services here, either. Only case law where these folks have messed things up.

Guess the only recourse is to use a lawyer for this.

Post: How to convert a deed to my name

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

Inherited a home from my deceased parent. Probate completed have decree and have document to record transfer with town. My question is two fold.

1) There are two deeds for the one property consisting of adjoining land. Do I need to make into a single deed and how do I do that?

2) I assume, even after the transfer filing, these deeds will still reflect my parents names. How do I convert them to my name?

Basically what I asking is, do I need a lawyer for all this is or can I do it myself and how to go about it.

Post: Making an offer if paying cash

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

I went to Zillow and looked at a sampling of homes that had sold recently in the same town. Compared their assessed value to the selling price. 

hat I found was all sold for more than the assessed value by anywhere from 8% for one that sold for 240 to 58% for one that sold for 245. If you take off the one for 8% which went for a bit over assessed value, add up the remaining seven and divide by seven it comes to an average selling price of 37% over assessed value.

So, if this house is assessed at 196 it should theoretically sell in the neighborhood of 268. If this follows any kind of logic their asking price of $235 sounds reasonable to me. 

What do you folks feel?

Post: Making an offer if paying cash

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

The only appraisal I am aware of is going off the current town assessment of 196K. If you figure this is 70% of appraised value that would make it $280 in the town's eyes. 

Not sure how this relates to the real world so if anyone can shed some light it would be appreciated.

Post: Making an offer if paying cash

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

Looking at buying a home to live in. Odd property in that was a commercial building made residential on the inside. Still looks very commercial from the street among conventional homes all around. 

Only been on the market a week and a half. Paying cash. Selling asking $235, offered $200. They said "no, will wait for the $235"

My agent says any other buyer will not be able to get certain kinds of loans for this place and it has a face only a mother could love. What should I do. Are they really saying nothing less than asking price or is it worth going back with another offer and what do you think is fair.

Post: Home based business

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

Do I understand correctly that one can deduct that portion of your home's property taxes as a business expense that is used for your business?

If so, is that based on the square footage used to support the business? In other words as a percentage of the whole?

Thank you.

Post: Paying cash advice

Digger OdellPosted
  • Wethersfield, CT
  • Posts 27
  • Votes 1

I'm looking to purchase a home that I will move into and expect to pay cash for it. I will also be selling my current home. Between the two transactions it may a wash or I may pay out a bit more to buy.

Question: is there any advantage to my doing a secured loan through my credit union and just pay off the note in full a few months down the road. They charge a small rate over prime and basically loan you back your own money.