Yes, this was fair and Cindy is correct. The agent representing the bank (or Realtor if it was a Realtor) is responsible to the seller, not buyers.There are often bid periods on these homes that are dictated by the seller but the bottom line is that they have the right to sell to whomever they want if it means a larger net or an easier sale for them. If the property seemed to need a lot of work to fix it up, as you mentioned, then possible it would require a 203k or investor type loan or cash to purchase. Real estate isn't like buying an item off a store shelf, - it's a product that is put out there to procure the highest offer at the best possible terms for the seller/owner.
Stay connected with an agent/Realtor who can represent you and have the process explained to you upfront and go over a few scenarios with your agent on how the whole thing can play out. Good luck and I hope you find what you need!... more
A short sale is when the Lender(s) will receive short of what they are owed when the property sells. A Seller, in financial distress, contacts their Lender's Loss Mitigation Department, answers questions, provides required proof of documentation asked of them, then hopefully gets short sale approval. The closer you offer to full price, which is usually listed under market value, the more chance you have of getting it approved by the Seller's Lender. A short sale can take one month to get approval after a ratified contract with the sellers, but is not unusual to take 3-5 months or more, with not response to your offer in the meant-time.... more
Depending on your credit score. Minimum credit score requirement depend on which FHA loan product the applicnt needs. Normally, the minimum credit score to get an FHA loan is 580. Your best option will be contacting a mortgage broker that can review all your documents and advice you.
Yes! And I just see Paula gave a very thorough answer. I would echo her advice to call Columbia gas to get specifics. Have you considered the use of propane to heat your home? We have a number of homes in Culpeper as their heat source.... more
I might be able to help. Property is south of Culpeper towards Lake Anna on 10 acres. . Will be a renovated farm home. We can potentially design it for main level master. $350-400k price range. We can talk more if you like - firstname.lastname@example.org.... more
Liza, you have indicated you are both a seller and a buyer. As a seller, how much are you willing to come down on price if it is a cash sale? In my experience, traditional sellers really don't care where you're getting the money, so long as you're getting the money. Maybe they will leave a tiny bit of cash on the table for a non-contingent offer (which is not what you said, but what I am assuming you mean), but it won't be much.... more
100% financing is still available thru the USDA Rural Development. The seller can pay all your closing costs allowing you to buy a home with no money down. USDA Home Loans are the best option out there. Go here for your answers.
I agree with the previous answer. But, make sure you think through the full consequences. If they are tenant homes, and your family, for whatever reasons in the next few generations, WANTS to sell the farm, or portions of it, it will be likely be more valuable if it has been subdivided. It sounds like your intention is to keep the farm in one parcel for as close to enternity as possible, and that is respectable. However, you don't know what surprises life and society might bring to your children and grandchildren. Obviously, you love your children and want to help provide for their futures or you would not be considering this.
Talk through the various ramifications with not just a zoning attorney but also a real estate attorney. And, if possible, find someone with a good crystal ball who can help you foresee the future (lol).... more
I am a realtor and would be glad to provide you with a listing of all rentals in the area along with their features and price. You can reach me at 703.618.6036 any time or by email at email@example.com or firstname.lastname@example.org.