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Home Buying in Cape Coral : Real Estate Advice

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  • Local Info75
  • Home Buying403
  • Home Selling27
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Activity 517
Mon Jan 9, 2017
Robert Guth answered:
The amount of homes with defective drywall left in the area at this point is slim to none. There is not a master list of homes, but if there is one listed on the MLS, then it will identify that it is positive for defective drywall.

If you'd like for me to help you find good investment deals, let me know and I'll email some properties.

Visit: http://www.capecoralfortmyershomesonline.com/contact
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Mon Jan 9, 2017
Robert Guth answered:
Electric bills will vary a lot based on the home size, location, and pool or no pool, but $120-$200 for electric, and $90-$100 for water would be a fairly realistic expectation.

You can visit the local utilities websites here:

http://www.capecoralfortmyershomesonline.com/buyers
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Tue Dec 20, 2016
Alan Barnhart answered:
South Gulf Cove area, October 2016, $30,000 plus fill (another $5,000) for 80' seawall with two 15' wings
0 votes 8 answers Share Flag
Mon Oct 17, 2016
Barbara Klare answered:
I always post my open house in the MLS. Potential buyers using their property portal can see them. Also stake plenty of signs.
0 votes 1 answer Share Flag
Tue Sep 20, 2016
John Burke answered:
Wow, I know this is an old question but good grief there are a ton of incorrect answers here.

FHA only requires a 2 year wait after a chapter 7 bankruptcy to be eligible. If you did a chapter 13, you may be eligible 12 months in to your payment on it!

The only time the period is long is if you included a mortgage in your bk in which case FHA defers to their foreclosure guidelines which require a 3 year wait from when the bank takes back title to the home.

VA guidelines on the other hand are just a straight 2 years for chapter 7 with or without a mortgage being included & the exact same as FHA for a chapter 13.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
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0 votes 11 answers Share Flag
Tue Sep 13, 2016
Robert Guth answered:
The majority of residential real estate contracts in Florida these days are written on the F-R BAR- AS IS contract, This article will answer some frequently answered questions regarding this contract with a focus on how inspections and repairs are handled under the AS IS contract.

AS IS is essentially a warranty disclaimer, Property is often sold AS IS in order to limit any liability relating to the condition of the property.

Aside from the general AS IS disclaimers the main difference is how inspections ans repairs are handled. Under the standard contract seller is obligated to a repair limit, If the cost of repairs exceeds the repair limit the buyer can elect to have seller repair certain defective items up to the repair limit. If neither election is made, either party can cancel the contract. The procedure is much simpler under the AS IS contract. Seller has no obligation to repair anything, but buyer can cancel the contract within the inspection period if buyer determines the property is not acceptable.
There are a couple other notable differences between the two contracts pertaining to inspections and repairs. First, the AS IS contract has no limitations on the type of inspections or who can do these inspections compared to the standard contract which limits the items that can be inspected and who can inspect them. For example, under the AS US contract a buyer can get a mold inspection which cannot be done under the standard contract ( unless there is a separate mold inspection). Second, under the AS IS contract anyone (including the buyer) can inspect the property, compared to the requirement of using a professional inspector under the standard contract.

Is buyer's only option under the AS IS contract to cancel?
Technically, yes. Practically, however, buyer's ability to cancel gives buyer significant leverage to negotiate for certain repairs, a price reduction, or a repair credit (often re-captioned a "closing cost"credit if buyer is getting a loan).

A major (and perhaps the only similarity) is that seller is not obligated to make any repairs. However, the parties under the standard contract must still follow the extensive inspection and repair provisions. These include:1- buyer must still give notice of defects, 2- seller must still obtain written repair estimates buyer cannot cancel if seller agrees to make all requested repairs, and 3- if seller does not agree to make all repairs, 4-seller can cancel if buyer fails to elect to take the property in its AS IS condition.

*Addendum K - Legally there is no distinction between the AS IS contract and the standard contract with addendum K attached. However, the AS I S contract is much cleaner and easier to use. A typical circumstance where it makes sense to use the AS IS addendum is when the parties as part of the contract negotiations decide to convert the standard contract into an AS IS sale. This usually occurs when seller agrees to a reduced price in exchange for buyer taking the property AS IS.
*Addendum L- Right to Inspect and Right to Cancel- From a buyer's perspective this is the best of both worlds. Buyer can cancel the contract if buyer is not satisfied with the condition of the property but seller is still obligated to repair defective items (up to the repair limit) if buyer does not cancel.

Seller and listing agent are still required to disclose known hidden defects that materially affect the value of the property,notwithstanding that the property is being sold AS IS.

Bank owned properties are always sold AS IS. Similarly, institutional trustees and fiduciaries typically sell property AS IS, A seller may also decide to sell a property AS IS if seller knows the property is in a state of disrepair, or if seller agrees to a significant price reduction, A buyer, on the other hand may use the AS IS contract to make buyers offer more attractive, or to tie up the property while buyer continues to look at other properties (often to the consternation of the seller and listing agent).


When representing a Buyer, I am compensated by the seller, not the Buyer. I'm on call for my clients 7 days per week, and can make the buying experience seamless and hassle-free.

Robert Guth, Realtor
Re/Max Realty Partners

www.capecoralfortmyershomesonline.com
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0 votes 16 answers Share Flag
Tue Sep 13, 2016
Robert Guth answered:
Though Maronda Homes has been around since the early 70's, they have a pretty healthy base of unhappy customers and bad reviews. As you know, every builder is going to have their share of unhappy or even unreasonable clients, but in their case the extent of their complaints is hard to ignore. Most of the complaints seem to be about sub-contractors, consistency, follow up, and overall quality of work with problems arising after construction.

If you are looking to build in the area, I'll be happy to help. I'm a local Realtor, I have built spec homes myself, work with many builders, and having been a licensed mortgage broker in the past for 16 years, I have originated countless construction loans. Builders have a commission built in to their price, and if you work with them unrepresented, they very well may retain that entire commission. Otherwise they will compensate your Realtor, and now you have unbiased protection and representation by a professional who will have your best interests in mind, and who has the capacity and experience to review contracts, understand draw schedules, and in my case, make sure the loan you are getting is healthy for you and your family.

I work with Buyers and Sellers, and I am on call 7 days per week for my clients. Seller/builders pay me, not the Buyer.

You can visit my website and contact me any time. Regardless, best of luck, and I hope your construction experience is a good one!

Robert Guth, Realtor
Re/Max Realty Partners

www.capecoralfortmyershomesonline.com
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0 votes 1 answer Share Flag
Mon Aug 15, 2016
Angelica P answered:
Hello,

We didn't get enough information about your problem to resolve the issue. Please provide us with your email address and we will be happy to assist you.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
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Fri Aug 12, 2016
Robert Guth answered:
The least amount I have spent to put a pool in, was $23,000. That included a paver deck, pool cage, pump, etc. I suspect prices may have gone up a bit since then though. So use that figure as your bottom line, but it also depends on how much it takes to put a pool in your specific yard, retaining wall, the design and any additional features. So you can expect $25,000-$35,000 is that helps.

If you need any more help, you can visit my site:

www.capecoralfortmyershomesonline.com
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0 votes 30 answers Share Flag
Mon Aug 8, 2016
Robert Guth answered:
Yes, but be careful. I think what you are meaning, and correct me if I am wrong, but you have a home with a mortgage, and you want to buy another home getting a mortgage for that property. The only way you can tap in to your equity is to get a home equity loan or line of credit from your bank or a lender, and then use that cash for your down payment on the new home. But I say be careful because then you will have a new debt to account for when your new lender reviews your "debt to income" ratio. This is a significant factor in getting approved for a new mortgage.

Its always best to game plan first, and then make a move. I am a local Realtor, from Cape Coral, with 16 years of mortgage lending experience as well. When you buy a new home, I would be compensated by the seller, not you. So please feel free to contact me, and I'll be glad to help you.

You can check me our and get my contact info from my website:

www.capecoralfortmyershomesonline.com/
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0 votes 1 answer Share Flag
Mon Aug 8, 2016
Robert Guth answered:
Only if the duplex has each side individually recognized as separate properties in terms of a strap number. This is uncommon in our area, but not unheard of

There are other ways to purchase together and still document and secure each position.

If you need any help, I am compensated by the seller, so my Buyer clients never pay me. I can research each property for you, and work with a local lender to game plan the best approach for you folks. I am from Cape Coral, and have 16 years experience as a mortgage lender as well so you'd be in good hands.

You can check me out here as well as find my contact info. If you'd like, I can send properties to you that meet your criteria:

www.capecoralfortmyershomesonline.com
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0 votes 1 answer Share Flag
Mon Aug 8, 2016
Robert Guth answered:
There is no such list. Your best bet is to search here:
www.capecoralfortmyershomesonline.com/search l
look for homes built between 2004-2008, and if it looks ok but is priced significantly lower than similar homes, your radar should go off. CLEARLY THIS IS NOT A FOOL PROOF WAY TO SEARCH so your best bet is to search through my Realtor portal, and then if a home interests you, shoot me an email and I do the leg work for you in terms of finding out if it has defective drywall, or any other concerning factors. My Buyers don't pay me. I am compensated by the seller when my Buyer clients find a home using my service.

Search all homes for sale here:

www.capecoralfortmyershomesonline.com/search
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0 votes 15 answers Share Flag
Sat Aug 6, 2016
Stephen Housenick answered:
If your score is average then by all means talk to a mortgage professional. Noticed I said talk. You will need score. True Score from credit agency such as equifax. transunion or experian. You are able to obtain these once a year for free. Handing over the score should not ding your credit, having mortgage co pull it may ding credit. Take a copy of score and TALK. With the actual score they should be able to give you an idea of rate you qualify for. Other considerations would be home prices. Do you feel they are going up, stable or declining. Then of course you have the FEDERAL RESERVE....they set rates. If the FED raises rates in the future then a mortgage may cost more if you wait. ... more
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Fri Aug 5, 2016
Robert Guth answered:
They are legitimate, but not in your best interest in my opinion. First you have to ask: "If the home is a good deal, why would they want to help me and not just rent it out or sell it since inventory is so low?

To put it nicely, they are preying on your ego. Renters want to be able to tell their family and friends that they are buying a home. But you will essentially still be renting. You will not be on title to the property, so it is just a glorified way of renting.

They will require a big deposit, a contract that is entirely in their favor, and if you miss one payment, they can keep your deposit and evict you because you have defaulted.

And finally, you will be required to get a mortgage in your own name within 12-24 months usually. If you don't, you lose your deposit, and back to square one, but now rather than that money sitting in your bank, you lost it.

But here is the worse part in my opinion. Once you qualify for a mortgage, it will hit you: "wow honey....you know, our credit is good now, we have all of the money saved, we can qualify to get a mortgage for $--------. If we had waited, we would be able to go out and look at ALL of the homes in our price range and have choices. Now we are stuck buying this home, and have no other options."

So what if during your renting period you decided you wanted a bigger home? Another bedroom? A pool? Or you found out that your neighbor was an obnoxious drunk? Too bad.....you limited yourself by letting your ego (and I mean that nicely) rush you in to a bad decision.

IN many cases, you don't build equity either on the "rent to own" property. Some require you to buy at the new appraised value. There are many scenarios and terms, but all favor the seller, not you. I have heard investors actually hope that their "rent to own" tenant defaults because then they would keep a $10,000 deposit, and could easily put another renter in there.

Your best plan is to work on YOU. Save money, maintain a steady job, keep your debts low, pay your bills on time, pay off bad debt, and get yourself mortgage-ready. Then I take you shopping where we will find a property with an affordable payment, very little money to close, and you will own it free and clear from day one and start building equity in your investment.

If you need any more help, I am a local Realtor, native of Cape Coral, with investment experience, and 16 years as a mortgage lender. I can pretty much cover ever question you may have, and I love helping first time home buyers game plan to THEIR benefit. Save my website address, and call on me any time, 7 days per week. And what is great is that I work for you for free. When I help you buy a home, I will be compensated by the seller, not you. So don't be shy.

Robert Guth, Realtor
239-770-6741
floridarealestateexpert@gmail.com
www.capecoralfortmyershomesonline.com
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0 votes 1 answer Share Flag
Wed Aug 3, 2016
Robert Guth answered:
Proof of funds is going to be a 3rd party documentation of liquid or liquidatable money that you have readily available, such as a statement from your bank, escrow receipt, etc. This is not the same as a pre-approval letter. When making an offer on a home, the seller is going to want to know that you have the cash, if it is a cash offer you are making. Sellers ask for this (or a pre-approval letter if you are financing) to ensure they are only showing their home to legitimate, qualified buyers who have the ability to close. Otherwise anyone could ask to see a home, insinuate they would pay cash, and now that seller has let a stranger in to their home who very well could have bad intentions, or simply can not actually buy their home. Not to be negative, but it happens. The seller will want to know that the prospective buyer has provided a Realtor with some documentation to demonstrate that they can in fact pay cash if interested in the home.

If you need any additional help, I'd be happy to help. I'm a native of Cape Coral, on call 7 days per week for my clients, and have a 16 year history as a Mortgage Broker before being a Realtor, so I can pretty much cover all of the bases for you.

Feel free to check out my website. I have lots of great information there from home buying to boating, local info, and more:

www.CapeCoralFortMyersHomesOnline.com
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0 votes 19 answers Share Flag
Tue Jul 12, 2016
Jonathan Lahey of The Lahey Group answered:
Tue Jul 12, 2016
Jonathan Lahey of The Lahey Group answered:
Hi,

I guess you need to consult a good agent , so you will understand how and can explain to you what are the process and need to have a home w/o renting !
0 votes 3 answers Share Flag
Wed Jun 29, 2016
Jonathan Lahey of The Lahey Group asked:
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