Definitely yes. Your insurance would cover your personal property, the HOA's policy does not. Personal property is furniture, clothes, your appliances and cabinets. Besides that it cover you for personal lawsuits. I personally have gotten HO6 on my own property.... more
No. When you go in to sign loan docs the escrow officer will tell you how much you will have to wire to escrow and when.
I think you would run the risk of negotiating in bad faith and opening yourself up to a possible lawsuit. Technically you probably could not qualify for both homes, so you really could not go under contract with a pre-approval for both. Then depending on the contract, you may not be able to cancel on the home inspection without giving the seller a chance to remediate.
I also don't think it is very fair to the sellers to take two homes off the market knowing that you are going to cancel one of the contracts in the future.
If you think you would like the one you can not see, then put an offer in and decide the very next day. If you wantto cancel, then immediately go back to the other one.... more
My recommendation is speak to your loan broker... your Realtor may be correct, however, your loan broker for your given area will know the intangibles regarding this type of loan for this type of property. Good luck.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting... more
The area you are looking in for that price range can be tough. 2 bd properties usually start a bit higher than that. When I was looking for my first home, my husband and I decided to expand our criteria due to the fact that we couldn't get enough home for our price range. Would you be willing to look at different areas? We eventually settled on Eagle Rock and we are very happy here. My husband still works in West Hollywood and has a bit of a drive, but in the end it was worth it. I would go on the MLS as a guest and start looking at whats out there in areas that appeal to you.
Also, please elaborate. Are you looking to live in this home or buy it as an investment property? Are you looking for a fixer or something that you can move directly into? Have you already been pre-qualified by a lender? Maybe you can afford a bit more than you think...all of these things are factors in your purchase process. You can go on almost any agents site and get access to the MLS. Congrats on your decision and best of luck,
I believe you can use the standard 203k loan, but the property still needs to fit the very restictive FHA criteria in regards to condition and appraisa.
Keller Williams Wilshire
This is a risky market to try and flip properties. Flipping is best done when the market is going up. What if by the time you finish the rehabbing the market has dropped some more and won't support the $600,000 price? Don't forget you will have carrying costs each month, seller fees, advertising fees, and so on. In a slow market it will take longer to sell and cut into your profits.... more
I work with some wonderful lenders (and no, I don't get a referral fee), but if anyone can help you, they can. They have integrity and ethics, and are very professional. They are both direct lenders. Please look at my website at BonnieTheRealtor.com on the home page and look near the bottom - the 2nd and 3rd would probably be the best for you, but feel free to contact all three for estimates. You won't qualify for an FHA loan because of the condition of the house. You may get many opinions here but you're best to go directly to a lender to find out the facts. Good luck! Call or email if you need any help.
I would like to help you look for your dream home. I can set you up a buyer's marketing system that allows you to see all the new listing. Here is my contact information:
Before you spend money hiring an attorney to "clean" your credit, consider the following:
First, without knowing you and the specifics of your situation in more detail, none of us will be able to answer completely.
That being said, 20 minutes with a well-qualified mortgage broker, on the phone, will get you all of the answers you need.
I'd like to direct you to someone I think is excellent.
His name is Steve Eckhoff, and he can be reached at First Capital, 310-470-8080.
He will definitely have your answer.
The Bremner Group at Coldwell Banker
Los Angeles Real Estate
Licensed Realtor for 33 Years... more
Congratulations! My preference is to have you 22122 Main St, Carson, CA 90745. (310) 834-6655 contact Farmers Insurance Celso Roque in Carson. He is awesome and will take good care of you.
You also need CEA (California Earthquake Authority) for special earthquake coverage. Most people think that because they have homeowner's insurance they are covered for the BIG ONE , not so!
If you live by the coast, you will also need FLOOD insurance...another one that's a special policy...
All the best and many happy years in your new home!