AboutDennis Herman Expertise I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?
Experience Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.
Organizations Greater Milwaukee Realtors Association
Wisconsin Realtors Association
National Association of Realtors
Publications http://activerain.com/bloghome
Education/Credentials State of Wisconsin Licensed Real Estate Sales Agent
Accredited Buyer Agency Training
Relocation Training
Certified Senior Citizen Representative
Wisconsin Real Estate Continuing Education
Question Howdy, my mother died in December 08. She was 23 years into a 30 year note on her condo. original loan was 41K, alas , she was at 10% interest so the remaining balance is 22,4000. Compounding problem being she was a hoarder, and it has taken me 6 months to empty said condo. Now I am faced with anywhere from 4K to 10K of renovation costs to even bring the place to showable condition in a market where comparable condos have been listed for over 150 days. I give up...I've already made 4 mortgage and homeowners payments since she's died and I've run out of money,time and energy. The condo has never been shifted into my name but as an only child, I am her "estate". I'm also resentful that after 23 years, I feel they've recouped their investment and they can have the blasted place. I have received three negative responses from our local "we-buy-ugly-houses" companies. Suggestions as to best course of escape?
Answer When I look for the best deals for my buyers I try to find estates. Often the family wants to put the situation behind them and will accept any reasonable offer. Estates can be much easier to negotiate with.
I suggest you list the property with a local real estate agent. Make sure they state in the description the property is an estate. This may trigger a good response. The Internet is a great marketing tool. Make sure your agent knows how to use it. Search the agents name or company name on the Internet to see if they have an Internet presence. List at a price buyers can not resist but will bring you a comfortable level at closing. Have the agent work up an estimate or proceeds.
You may want to also tour a few other condos for sale to compare the condition and price. Size up the competition. You may realize some of the other condos are in worse shape and asking more money. Make sure your agent has a list of lenders still doing loans for condos. Lending is a big hurdle these days.
