All Forum Posts by: John LaBelle

Thumper,

I'd go here: http://www.nahb.org/local_association_search_form.aspx and search for a homebuilder's association near you. The may have an upcoming meeting or a list of members you can talk to.

Good luck.

I personally find it odd that they wouldn't winterize in a cold climate. All you need is one pipe and large amounts of damage can occur. You'd think it was in their best interest to winterize to avoid this.

Who will their attorney be representing, you, them, or both?

I'd strongly suggest you have your own attorney who is looking out for your interests.

From your example: If the proeprty is now worth 130k and they loan you 104k, in their eyes you have 26k in equity. The 26k in equity is your risk. Even though it physically did not come from any of your bank accounts, it represents money you have invested in the property.

John,

How did you get your foot in the door with the banks. Foreclosures are on the rise here in Massachusetts and I am looking to get involved in working with banks. I've signed up with a couple companies to do BPOs, but so far, I haven't gotten any requests. Any suggestions would be appreciated.

John LaBelle
RE/MAX Prestige
[email protected]
www.merrimackvalleyre.com

Zillow is an AVM. What a licensed appraiser will provide is more detailed and more reliable than what Zillow will provide. I am a Certified Residential Appraiser. I checked Zillow's opinion of what my home would be, and the were off by a good 30-40k.

If you really don't want to pay for an appraisal, have a local real estate agent give you a CMA. They'll do it for free, and should give you a fairly reliable range of value for the property.

You cannot do this. Appraisals are written for a specific client. You cannot change the name on the appraisal after the fact. When you sell the buyer's lender WILL require a new appraisal.

Go to town/city hall and find the assessor's office. They should be able to tell you the owner of record.

Unless it is common in your area (not sure where you are), having the kitchen and the only full bathroom in the basement could be a problem down the line. I came across this once (the only kitchen in the basement) and the lender refused to go forward with the deal.

Welcome to the forum.

If you find yourself in need of a Realtor or Certified Residential Appraiser, drop me a line.

John LaBelle