Schuyler, it sounds like your lender is forgetting that he is working for you! Did your lender even explain why it's going to be another 30 days? Have you talked with your lender's supervisor? If you choose another lender, be sure that the seller agrees to extend the closing and that Realtors, the closing company, etc. are all aware. Get it in writing! Choosing another lender may mean you paying for a new appraisal so weigh all the "negatives" of changing lenders before making that final decision. If changing lenders doesn't jeopardize your Contract on the home... take your money elsewhere!... more
It sounds as if you are not getting the attention you deserve. Speak with them first and let them know that you feel you aren't getting the attention you need and express how important communication is on your end in order to make the deal work. If the problem persists/ continues you will need to move on. If you do not have a written agreement with the Broker, you will want to send a written letter of correspondence and make sure that they receive notice prior to you working with another Agent or Brokerage firm. Best of luck!... more
The tax credit is equal to 10 percent of the homeâ€™s purchase price up to a maximum of $6,500 on homes no more than $800,000. But, as others have suggested, talk to a tax professional for more clarity.
You need to do your own independent research prior to just bidding on the appearance of a deal. The bottom is price per sq ft. How much will it cost to rehab this property? Also make sure you have a walk away price - do not get caught in the emotion of the competition. Other sharks in the room will know your green and will try to bury you. So be careful. You may need a mentor to show you the ropes first.... more
The other answers regarding the value of the upgrades--having to see and evaluate the property--really are correct.
The absolutely honest answer, though, is that many of those "upgrades" won't return anywhere near their investment. They may make it more pleasurable for you to live there. And they may result in a quicker sale when you do sell. But a lot of those won't return your investment. For example:
Two Drives: Are both necessary? I'm not aware of people paying any more for a second drive. And a second drive can eat up valuable lawn space.
Three Exterior French Doors: They look nice and may help your home sell faster. But unless they were replacing some really ugly, barely functional doors, it's not a great investment.
Large Office Area: If it's new space in the home, maybe. But if it's just finishing an unfinished basement, it'll add very little. And if you had to cannibalize a bedroom to create the office space: No.
Huge Windows With Skylights: Depends on where the windows are, and which direction they face. It adds almost nothing if they face north or west. And in today's energy-conscious environment, people worry about too many unnecessary windows.
Upgraded Kitchen: The kitchen is one of the two prime selling points in a house. The master bath is the other. If you're upgrading from a 1970s kitchen, it'll return a big chunk of value so long as you don't go overboard. But there are plenty of ways of upgrading a kitchen without spending a fortune.
Dining Room: Very little return. Most people already expect a decent dining room.
Master Bath: This is the other big selling area. But there are right and wrong ways to do it.
Again, really, you'd need someone to take a look. But from what little you've described, I'd expect a 30 cent to 50 cent return for every dollar you spend. Yes, it'll sell faster. But it won't be a terrific return on investment. Done right--done judiciously--you might be able to get back about 75 cents for every dollar you spend.