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Buying or Selling a Home/Questions Answered by Expert Jay Denit

Subject	Date Asked
how much for a new home?	2/8/2012
Q: I just had a question about the costs of upgrading to a new house when you outgrow your current one. ... A: The sellers in real estate transactions are the only ones that pay Realtor fees. I.E.- you would ...
Finding Real Estate Deals	7/20/2011
Q: I hope this email finds you well. Do you know of any free websites or pay sites that will allow me ... A: My best advice is to interview agents and find one that fits with your personality and real estate ...
Title company	2/26/2011
Q: we r buying a bank owned home. Closing is set for Monday. About 10 days ago, i asked a question to ... A: I'm not sure I really understand your question. Typically lenders "require" you to use the title ...
buy or keep renting	12/20/2010
Q: So here is my dilemma. My husband stays home with our two young children while he works on his ... A: I honestly wish I could be of help. It's really a personal decision about what is best for your ...
appraisal	12/14/2010
Q: we signed a contract to sell our house. The appraisal came lower than the price. The contract has a ... A: The contract is not void. You can either agree to lower the sales price to the appraised value or ...
Home loan	11/15/2010
Q: I'm looking to buy a new home in Georgia. I'm interested in the loan process. Every loan calculator ... A: Definitley talk to more than one loan officer to find one that you trust. As part of your ...
property deed	1/21/2010
Q: I have just recently paid off my V.A. mortgage loan in Virginia. When may i expect my deed of ... A: You were given the deed you you bought the home way back when and it was recorded and became public ...
Short Sale Questions	11/6/2009
Q: I am hoping you can help me with some questions. We are currently trying to sell our house and we ... A: So sorry for your tough situation. Declining property values have really put a squeeze on the ...
offer for reo property	10/12/2009
Q: my wife & I would like to make an offer on a reo as soon as the right property comes on the market. ... A: You would just need to make the offer in your son's name, so he is the person contracted to purchase ...
Condos	9/2/2009
Q: I went online yesterday and began looking at the condo market in the Ken Caryl/Littleton area...of ... A: Hey Ron, Thank you for your military service! I would agree with you about the no money down ...
Home ownership transfer	8/29/2009
Q: We are currently living in a single family home. The "owner" of the house is my mother's sister, or ... A: Your aunt can Quit Claim Deed you the home for around $100. If you do that though, you would have ...
Quit deed	7/15/2009
Q: The property I asked about has a warranty deed, that is 2 seperate parcels. You advised me that the ... A: A little back ground to make sure we are both on the same page. A lot is "legally" subdivided when ...
need out of loan with ex-husband	1/28/2009
Q: 5 years ago I left and filed for divorce 2 years ago at that time he said he wanted to keep the ... A: Sorry to hear about the mixed up situation. Unfortunately, the only way to get your ex off of the ...
Backup offer on short sale	1/27/2009
Q: We just put in an offer on a short sale through wells fargo. Our offer is higer than than the first ... A: Aside from the home being a short sale. The seller is probably technically under contract with the ...
selling	11/17/2008
Q: I'm selling a home and my buyer signed the papers to buy my house. His bank postponed it so my buyer ... A: You would need to check your local laws or with your real estate agent. If your buyer met his ...
short sale / forclosure	11/13/2008
Q: I recently put in an offer on a short sale home in Las Vegas. I agreed to purchase per the sellers ... A: As hokey as it sounds, you don't have any recourse and lenders are doing the exact same thing as ...
short selling	10/14/2008
Q: How difficult is to convince mortgage lenders to agree to a 10 short sell? I have 2 mortgages and I ... A: Sorry to hear about your situation. Unfortunately, it has become all to common these days! It ...
settlement date on house	7/23/2008
Q: We found a house we fell in love with 2 1/2 months ago & put a contract pending the sale of our ... A: I know it will all work out! The details of the situation are a little fuzzy, but I can tell you ...
Choosing Realtors?	7/20/2008
Q: We'd like to learn how to invest in investment property, condos, SFH. First we'd like to buy our ... A: Congratulations on your decision to invest in real estate! It is one of the best wealth building ...
Foreclosing a Owner Financed Home	7/3/2008
Q: I sold on a promissory note a single wide trailer on its own property in Pueblo West. She ... A: The legal answer is.... whatever is written in the promissory note or the deed of trust as ...
contract question	6/20/2008
Q: If a real estate agent did not tell me about a termite problem that they knew about before hand is ... A: In Colorado, it is a breach of contract to not disclose a "material fact". The definition of ...
Equity participation	4/11/2008
Q: I want to help my son purchase his home by investing in a single family home that he will occupy ... A: As long as the home is "owner occupied" (your son will be living there), no you will not be able to ...
Equity participation	4/10/2008
Q: I want to help my son purchase his home by investing in a single family home that he will occupy ... A: If you didn't want to be on the title to the home (showing legal ownership), I would put something ...
Contract & Special Deed	4/2/2008
Q: My wife and I are buying a second house for rental investment in Colorado. It will be a cash in ... A: 1) No, a Special Warranty deed does not provide the same coverage as a General Warranty deed. A ...
Moving Back Home	3/29/2008
Q: My parents own property in Jefferson County, Colorado. My father built the house in 1958 and they ... A: Sorry - I have been out of town for the last few days. It's a complicated problem with a simple ...
splitting and selling a duplex	3/19/2008
Q: I currently own a duplex building in north-west Denver (Highlands area). I live in side "A" and i ... A: First, you need to see how your legal description reads. Since it is a duplex, I'm sure that both ...
commissions on a trade	2/22/2008
Q: We were interested in the purchase of a home in Steamboat that is listed in MLS. The owner of the ... A: I think I'm a little bit confused, but hopefully I have it right. Let me explain and hopefully I ...
FSBO and attorney	2/6/2008
Q: My husband and I are considering trying either simple FSBO or Rent-to-own. In what stage will we ... A: For the sake a saving you a few dollars, I would recommend holding off on an attorney until you have ...
mortgage release	2/5/2008
Q: When we bought our land, we bought thru a real estate agency where the owner was financing the land. ... A: This may not be the answer that you are looking for, but you will need the help of your attorney and ...
Buying Short Sale: Bank Approval	1/25/2008
Q: I live in Colorado and have made a full-price offer on a short sale. It was accepted by the seller a ... A: Sorry this has been such a mess for you! You do need to be patient with some banks. I have had ...
RE contract	1/18/2008
Q: I seem to have entered into a bad contract which gives the agent more rights than it does me, ... A: Legally speaking, yes, your agent can retain half of the earnest money that you are due. I ...
Help me understand.	1/10/2008
Q: My husband and I are trying to buy a bank owned home. We have been pre-qualified for a 100% loan ... A: Honestly, that's a bit of a mystery to me too! If you are fully approved for your financing I don't ...
Difference between offered and what is on purchase contract.	1/9/2008
Q: We have been offered a contract to buy a property we own but the purchase price on the contract is ... A: It is absolutely okay to write a contract for more than an agreed upon amount. Your buyer may have ...
Need ask about earnest money!	12/2/2007
Q: My wife and I went to shop the new house and chose the Plantation Homes Builder just one week ago. ... A: Every builder contract is a little bit different with regards to the earnest money so be sure and ...
move house deed	11/15/2007
Q: I am obtaining a log cabin home for free and moving it to avoid it being bulldozed over. The owner ... A: My best advice would be to get a local title insurance company involved. They will make sure that ...
I need advise	10/24/2007
Q: Aloha, My name is Maile Makaena and i am a junior at Molokai High School in Hawaii. I want to become ... A: You don't need to attend a college/university and in most states you only have to be 18 to get your ...
Mortgage re-figuring	10/22/2007
Q: Jay...In 1996 we sold my dad's house (in Spokane) to a young couple and carried the mortgage on a 15 ... A: Ahhhh...I see what you are saying. That mainly has to do with the accounting on your end. The ...
Mortgage re-figuring	10/22/2007
Q: Jay...In 1996 we sold my dad's house (in Spokane) to a young couple and carried the mortgage on a 15 ... A: I'm not familiar with "sliding interest rate scales". Was it and adjustable rate loan? You can't ...
Mortgage re-figuring	10/21/2007
Q: Jay...In 1996 we sold my dad's house (in Spokane) to a young couple and carried the mortgage on a 15 ... A: You have been forgiving! I'm not sure I would be as lenient as you. When I carry note's, I have ...
Equity or not.......	10/7/2007
Q: I have a couple questions about our equity. We have a first loan for 314K and a second (equity) for ... A: You want to make sure you can afford your new home VA loan or otherwise. After you sell your ...
Equity or not.......	10/7/2007
Q: I have a couple questions about our equity. We have a first loan for 314K and a second (equity) for ... A: In order to sell your home you have to sell for a price that is high enough to pay off both your 1st ...
New Home Construction	10/4/2007
Q: I live in Pueblo, CO. I signed a purchase agreement with a home builder here in Pueblo. I gave him a ... A: Builders contracts are a different breed. All of them are different and they are heavily slanted ...
Right of Redemption	10/3/2007
Q: I know every state has different statutes on real estate law, but I am kind of confused on an issue. ... A: I do remember from back in my REO days that Alabama's foreclosure laws are exceedingly different ...
purchasing a bank owned property	9/17/2007
Q: First, I would like to say thank-you for your time. I am currently trying to purchase a bank owned ... A: Hey Carey, Thanks for the question. You are correct, once the property is REO "bank owned", the ...
contract cancelation	8/30/2007
Q: HAVE A QUESTION , I HAVE A SINGLE FAMILY HOME CONTRACT ON MY HAND AND EVERY THING HAS BEEN DONE AND ... A: Did the seller agree, in writing, to repair the items that you refer to? If so, you have the option ...
selling a home that is in a trust	8/29/2007
Q: mr. denit, my parents own a condo in colorado ... they are 87 and 85 ... if one of them passes away ... A: It would be best to check with a tax professional on that one. The question I have for you, is the ...
Unpaid taxes on purchased home	8/23/2007
Q: Hopefully you can provide some insight on my issue. I purchased a home in the state of WA in ... A: You can never go wrong with seeking a real estate attorney's advice in a sticky situation like that. ...
getting out of a contract with real estate agent	8/22/2007
Q: Can I legally get out of the contract with the real agent who is selling my place and go to another ... A: Yes, you can get out of your contract with your current agent. Call your agent or notify him/her in ...
Buyer taking to long	8/7/2007
Q: My home was only listed for two days when I received an offer. The offer was made about three weeks ... A: It sounds like you agreed to extend the inspection deadline, so the buyer could have another ...
Back Tax Forclosure	7/28/2007
Q: I am looking at a home that is being sold for back taxes. If I was to win the bid, what happens if ... A: Ever state is different in terms of how many years the property taxes have to go unpaid before a ...
QuitClaim Deed	7/21/2007
Q: I bought a house with my now ex-girlfriend. Sheis on the mortgage and deed. If we do a quitclaim ... A: If your ex quit claims you the home, she no longer has ownership of the property. The mortgage and ...
taking home off the market	7/15/2007
Q: I have had my house listed on the market for 3 months now. I really need to sell or stay and ... A: An agent can't legally force you to sell your home. If you would like to take your home off the ...
Should i take out a mortgage or pay all-cash for a condo unit.??	7/9/2007
Q: i am planning on purchasing a condo unit. i can afford to pay for it in all-cash. is there any ... A: Your accountant would be able to best answer that for your specific situation. Any financial ...
real estate	7/7/2007
Q: is a home builder can force you to buy their home after 2 letter of denial and a counter offer way ... A: No a home builder can not force you to purchase a home. You need to read the builders contract you ...
Home assessment	7/2/2007
Q: I am wondering why a homeowner offers a home for sell less than it is assessed for. I am looking at ... A: Homes often sell for a little less or a little more than assessed value. Tax assessors offices are ...
commercial prop	6/16/2007
Q: my name is Nick and I'm planing to buy a commercial property.my problem is getting financed. as a ... A: Hey Nick, Thanks for the question. To be 100% honest, I don't have much experience with commercial ...
buying "AS IS" property	6/13/2007
Q: we are first time home buyers. there is a house that we are looking at that is in foreclosure and is ... A: J. - You sound like you are on the right track! The only thing I suggest you be aware of is exactly ...
selling vs. lease with option to buy	6/8/2007
Q: I recently acquired a home thru a foreclosure, and have had it on the market to sell with very ... A: Leasing one of your investment properties in a soft market is not a bad idea. On the plus side you ...
advice	1/22/2007
Q: I am 30 years old single male from Detroit, MI. I live with my 2 siblings and our mother. I make ... A: It sounds like you really want to move on on your own and owning your home is a great thing. It ...
Selling our home in a bad market	12/18/2006
Q: My husband and I moved out of our house last June, and listed with a 3% real estage agency. The ... A: I wish I could waive a magic wand and have your home sold for you! In Colorado we are experiencing ...
Buying a home with a partner	12/12/2006
Q: I want to help my brother, in Colorado, buy a house; I live in California. I want this to be a ... A: What part of Colorado are you looking to purchase. If it's the Denver/Boulder metro areas, I would ...
help in a poor economy	12/4/2006
Q: I would desperately like your advice on how to pick up my business in a market that has been hit ... A: I feel your pain with the housing market slowdown. My best advice is hang in there if you can. The ...
Lender Back Out	11/17/2006
Q: My question is this: A lender agrees to lend to a borrower on specific land and (mobile home that is ... A: To be honest, mobile home lending is very specific and a bit outside of my expertise. To get a ...
Best Friend Mortgage	9/26/2006
Q: I have a unique situation and I was hoping you could look this over. Let me know if you have any ... A: The consumer help website gave you good information. There are several ways to attack the situation ...
discrimination	9/23/2006
Q: I have a agent that I am working with and I asked to see a property that is in my price range and ... A: You first need to establish if discrimination did indeed exist. A properties 'status' can change ...

All Questions in This Category

Jay Denit

Top Expert on this page

Expertise

I'm a Real Estate Broker/Loan Consultant in the state of Colorado. We have a separate foreclosure investing company, so I'm more than willing to answer any Colorado foreclosure questions for both the home owner and investor. I have sold bank owned homes all across the country for all of the big banks. I'd be happy to answer any questions about buying or selling residential homes and specialize in luxury estates. Furthermore, I have some experience in land acquisition and development and know a touch about water rights. We are a licensed lender in most states, so I can answer general questions about all types of mortgages.

Experience

My experience is really anything that has to do with real estate. From buying and selling to investing and foreclosure, I’ve done it all. Being able to handle the acquisition and financing under one roof gives me the intimate knowledge of all facets of property conveyance. My foreclosure/bank owned property (REO) experience gives me the problem solving mindset to always find a solution.

Organizations
BARA- Boulder Association of Realtors NAR- National Association of Realtors CAR- Colorado Association of Realtors

Education/Credentials
Xavier University-- BSBA Finance Colorado State University-- Professional Certificate in Project Management

Encyclopedia

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