Home Buying in Cedarhurst : Real Estate Advice

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Renah Bell, Real Estate Pro in Lawrence, NY
Renah Bell answered:
If I buy a shortsale home for $450k but it needs about $50k in repairs will I find a lender who will give me a mortgage of $500k for this short sale?
There are certain types of mortgages that will allow you to borrow enough to do the renovation. Ask your mortgage specialist about it. Not all mortgage companies carry them.
0 votes Share Flag Mon Oct 6, 2014 Home Buying in Cedarhurst
Trevor Curran, Real Estate Pro in Great Neck, NY
Trevor Curran answered:
Amount needed for mortgage - First time buyer = DUH
Good morning Alvy,

You really want to consult with your Mortgage Banker for the best estimate of closing costs on this transaction. Closing costs are ALL the fees you pay associated ... more
0 votes Share Flag Wed Oct 17, 2012 Home Buying in Cedarhurst
Mikel DeFran…, Real Estate Pro in Canton, MA
Mikel DeFrancesco answered:
What would be the broker's motive to lower the sale price for a house on MLS for which the buyer has already signed a contract?
They may be acccepting back up offers in case the deal falls through or to use as leverage in case of a home inspection or other issue.
0 votes Share Flag Mon Nov 14, 2011 Home Buying in Cedarhurst
Jt, Home Buyer in Chicago, IL
Jt answered:
Are foreclosures and bank owned properties negotiable?
A home is only worth what the market is willing to pay for it. Be careful and fully examing a REO owned property before investing in it. I do not subscribe to the notion that the home ... more
0 votes Share Flag Mon Jan 17, 2011 Home Buying in 11516
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