Real Estate Transactions = Continuing Ed
Each and every real estate transaction is a learning experience! Here are a few stickee notes to add to your collection of things to remember.
This Seasoned Realtor, pictured left, has learned a few tips to pass on to fellow Realtors and consumers.
Thinking about purchasing a foreclosure?
When the foreclosing bank (Seller) wants a fast closing - like close within 30 days - there are a few considerations if the property is situated in a community with a homeowners association.
Most likely, the Seller/Foreclosing Bank works with a contract that it has generated and does not allow for any options to change any parts of that contract. It is as is. "As is" happens to be the often used term in foreclosure sales!
Tip #1: read every clause of that contract carefully, preferably with attorney review, and search for any language that presents any ambiguity.
Before signing that contract, be sure any item that presents any ambiguity is defined before signing that contract, because the Buyer does not have the option to change the language when it is a as is contract.
Reviewing a contract closely, of course, is important in every situation, but even more so when there are no options for altering the terms before signing. Be careful of clauses that can be broadly interpreted.
Tip #2: In the Commonwealth of Pennsylvania, if a property is being sold that lies within a community with a homeowners association, it is required that the Seller provide the Buyer with a "Resale Packet & Certificate" that informs the Buyer about the rules and bylaws of the association, information about the property itself, dues and fees, and ANY MONIES THAT ARE DUE AND OWING. It is common practice in PA that the Seller pay the cost for the Resale Certificate (generally about $150), and clear up past due amounts.
The Resale Packet has to be applied for within a certain period of time after signing of contract, and produced by the homeowners association within a certain timeframe. When working within a 30 day window of time to close, the Buyer can be near closing before having the Resale Certificate and package in hand. Monies have probably already been expended for inspection fees and the mortgage application if financing.
Here is where Tip #1 and Tip #2 play hand-in-hand:
That ambiguous language in the Seller generated contract, which can be broadly interepreted, may put the burden of the cost of the Resale Packet and past due amounts still owed to the homeowners association on the Buyer!
What the Seasoned Realtor, pictured above, should do when representing the Buyer:
Don't wait for that Resale Certificate to be presented! Call the homeonwers association prior to signing the contract and find out what is due and owing. And understand with clarity all the terms of the contract the Buyer is signing.
The Buyer should be fully aware of these costs, and perhaps made part of the estimate of closing costs, before signing on for the deal. In a foreclosure, there can potentially be significant amounts of monies owed to the homeowners association, and it is important to clarify if the Buyer or Seller is paying them, regardless of what common practice is in PA.
Along with having been awarded the Nation's 1st Emerald Status by the National Association of Home Builders, the highest status attainable for Green home building (the highest energy efficiency level a home can attain) , RGB Home Builders have now additionally been awarded the 2010 Energy Efficiency Award by the Pocono Builders Association.
Featuring a geothermal system, the cost to heat and cool this 4-bedroom "Davidson model is about $370 per year!
It makes perfect sense to consider these options when designing your dream home here in Pike and Wayne Counties PA. RGB Custom Builders offer Green Building options to suit your preferences and requirements, from Silver to Emerald ratings. You can select the options and the features that are most important to you.
Learn more about this marvelous home located in Smithfield Township, PA. Contact me for information about Robert Brown and RGB Home Builders as the builder of your custom dream home here in northeastern Pennsylvania and the beautiful Poconos region.
Debut of the 2010 Milford, PA Black Bear Film Festival
There is no time better than now to visit historic Milford, PA and to enjoy the activities and traditions that make this very special place, nestled in the Poconos, so appreciated to those who have the good fortune to claim this area as "home."
The reknowned annual Black Bear Film Festival will be held Columbus Day weekend, October 8, 9 & 10, 2010. Tickets are on sale at the BBFF office at the Upper Mill located opposite the Waterwheel (home to great local jazz and blues) on State Route 2001. For more information, call 507.409.0909.
This year's festival bears have already made their debut, and can be seen on the sidewalks of our charming victorian Village of Milford, while shopping and enjoying our inns and restaurants. Come and meet Darth Vadbear, Master Baker Bear, Mother Earth Bear, Frida Kahio Bear, Pretty in Pink Paisley Bear, and Bearilyn Monroe, as depicted here in a Pike County Courier's photo by Linda Fields.
All of these delightful bears will be auctioned. Our film festival this year features a highly profiled film entitled "Jack Goes Boating." Check here for more information about the Black Bear Film Festival.
If you are interested in finding out about the wonderful home ownership opportunities and available real estate in Milford, PA, and its surrounding area of the Poconos, drop by the Geba Real Estate office while visitng conveniently located in the heart of the village at 209 Broad Street, next to the Pike County library.
Or simply visit my website at http://www.PoconoLandAndHomes.com
Edward B. Slattery with daughters Shannon and Meghan
August 30, 1944 - April 19, 2010
Four months since passing - Time was not his friend, nor ours.
One of the Pocono's best land, time shares and new home construction salesmen.
Pocono Land And Homes provides all our DV football fans a copy of the Fall 2010 Football Schedule
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RGB Custom Builders - Poconos Most Award Winning Builder! Pike, Wayne, Monroe, Carbon Counties. 1st in nation to achieve Emerald, NAHB's highest status in Green home building! Realtor Geba Realty
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Once Upon a Time ~ I grew up in a family construction business enveloping all phases of construction and custom home building, which formed the beginning of my background in new home construction.
I have 18 working years of legal background, certified in Paralegal Studies and with a specialty in Real Estate procedures. I am a member of the National Association of Realtors, licensed in the Commonwealth of Pennsylvania, the Pennsylvania Association of Realtors, and a member of the Pike Wayne Association of Realtors.
With a strong knowledge base of all the communities and developments of Pike County and Monroe County, PA, and the communities in the Lake Wallenpaupak area of Wayne County, PA, I have additionally developed a solid background in land and judging its suitability for new home construction requirements.
The Importance of Selecting a Home Site with the Expertise of a Realtor Experienced in New Home Construction Cannot be Overemphasized!
Procuring a home site with the expertise of a Builder’s Representative who is knowledgeable regarding Federal Regulations (EPA), State and Local Laws, and all the various community building regulations, that govern land use and its development as a future home site, as well as understanding construction requirements and building codes, will help you to select land that is both build-able and suitable for your custom home building project. I cannot emphasize enough the importance of insuring that your hard earned dollars are spent on property that is build-able and suitable for your new home construction project!
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RGB Custom Builders has incorporated Energy Star features and Green building techonologies for many years in new home construction as a matter of course to build it better and best for its clientele. RGB is not a "Johnny-come-lately" to Green building, and because this builder is not a novice, or newcomer, to building it Green, he has tried and tested the technologies and mastered Green building products. Many ample testimonials gladly provided by his clientele tell the story of the workmanship and quality of care of RGB Custom Builders.
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Whether your primary home or vacation home, I would like to help you acquire your real estate land and home needs in keystone Pike County, Monroe County and Wayne County, the hub of New York, New Jersey and the beautiful Commonwealth of Pennsylvania. Home ownership in the Gateway to the Poconos - in every way, your very best investment!
Our days are filled with nature's beauty and charmed by our distinctive and unique historic villages and towns. The Pocono Mountains area and Pike County, Wayne County and Monroe County, offer a wealth of pleasurable pastimes. Be it theatre, a jazz club or angling in a stream, here you will discover an abundance of wonderful activities. Enjoy the historic Village of Milford, nestled in a valley beneath pine and hemlock covered hills, brimming with little shops and restaurants. Visit the many streams and waterfalls, the lakes and scenic Delaware River and "The Bushkill."
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We offer it all ~ a precious legacy for you and your family awaits you!
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