This lovely home has not beenon the market in the multi list since 2007 when it was listed for $359,900 and withdrawn from the market without a sale. I would be happy to help you look for others similar to it in the area and can email available properties to you directly fromt he multi list. I hope to hear from you! Happy New Year!
c: 313-779-9282... more
The answer is in the contract you signed. If the contract has an inspection contingency that allows the buyer to cancel, then yes they can cancel. By the way it is important to note that inspections can take on many forms, not just physical inspections of the building. Inspections could include, talking with neighbors, checking traffic patterns, airplane fly overs, calling the city or town to verify rules and regulations, etc. (the list goes on and on). The bottom line is IF the contract allows the buyer to cancel and receive a refund of EMD, then it is their right to do so.
Read your contract.... more
I would need to know more about your situation to determine why the lender was thinking you have a "50/50 chance". From my experience no loan is truly a guarantee, but there are many ways a loan officer can look at a customer’s situation and tell them what issues they see upfront.
If you want a second opinion I would be more than happy to help.... more
Most banks do prefer owner occupant versus investors, however, I've seen a lot of cases where the bank took less money for a home because the offer was cash!
For example: Last month, there was a bank owned property listed at $252,000. My buyer (a doctor!) had been approved for financing and we put in offer in at $275,000. Our offer got denied, and an offer was chosen at $252,000! When I found out, I was really mad! The listing agent told me that the house was sold to a cash buyer and that the bank was worried the financing would fall through.
Realtors (usually the listing agent) have the first notification that the property has been listed. I have my clients on an automatic listing notification system, so it emails myself and them the day the property comes on the market. a lot of times with the better priced homes, it is very common for them to go pending within a few days, but it usually takes a few days to get bank approval. It would be very uncommon in my experience for a listing to go active and pending the same day, unless there was some offer submitted to the bank ahead of time or unless they got a full price cash offer the same day.
I would work with a realtor who can provide you this same service and would be available immediately to show you the properties. There are investors with cash that are looking to purchase and do nothing but look at houses every day! Realtors know how important it is to get a full price (or even over listing price sometimes!) offer in immediately while some first time and other home buyers are skiddish in offering over listing price on a home that needs a bunch of work.
If you would like to speak with someone in your area about this, I would contact the local Board of Realtors who you can find by googling your county or city! I think this is the link but not sure http://www.dabor.com/
Hope that helps and happy House Hunting! Don't give up.... more
Depending on the lender, a Conventional loan with 5% down can change the rate you receive. It will also change the PMI insurance compared to a 20 % down Conventional mortgage. Those are the two major differences. Other differences can be closing costs.
If you are working with a lender, ask them these questions. If you are NOT working with a lender yet, let me know and I can suggest a few for you who will answer all of these questions for you.
Choose whoever you like best--and you should expect the same services from an agent as you would a broker--technically they hold different licenses--a real estate broker must have completed additional coursework beyond what an agent completes and a broker bears more responsibility--agents generally work beneath a broker--again choose whoever you like best--an agent does have access to the same information as a broker, they can easily reach deal, show you properties, give comps, etc.... more
That depends. Do you want a house to live in or do you want a lot of land? If you mean should you build new or buy resale, that depends on what you want. Right now, real estate is relatively inexpensive. Building costs are rising. In most areas, it is cheaper to buy an already built house than to buy the land and have someone build a house.... more
If you are only going to be there 5 years you want to make sure that you purchase in a complex that has a fair amount of turnover. Your buyers agent should be able to tell you how many units typically sell per year in each complex that you are looking at. Considering the market we are currently in if there's a steady rate of sales that demand should help the unit appreciate as the market picks up. Hopefully five years from now our local real estate market will be in better shape than we are right now.
If there is anything that I can do to help you out with please let me know.
(734) 658-3662... more
You should have absolutely no problem getting a mortgage. Your education counts as employment history since your studies were in the same field as your current job.
Use 25% of your gross monthly income as a maximum guideline for your new monthly payment (Principal, Interest, Taxes and Insurance.) Us up to 36% for the total debt guideline that includes your new monthly mortgage and any other debt installments added together.
Your down payment will factor on what kind of interest rate you can get, but your fantastic credit score will keep that at its best.
Thanks for posting.
Donna Wright, Realtor
Century 21 Curran & Christie
313/ 277-8870... more
This home was NOT a foreclosure. It was listed in November of 2012 for $59,900.00 as a Short Sale.
It sold and closed on 3-29-2013 for $50,000.00.
It is no longer available. If you would like to see any other homes in the same area, please let me know and I can send you a list of available homes.
My contact information is listed below.
Starbrina, I am happy to work with you in an effort to find a home for you.
Are you looking for an investment property, or a new residence ? what price range ? what other criteria (bedrooms, baths, basement, garage, etc)
Let me know via email or phone and I would be happy to discuss your new home purchase.
John R. Sheehan II
Bank-owned Property specialist
Stonebrook Real Estate
Dearborn, Michigan 48124
(313) 274-7150 fax
(734) 751-3033 mobile
Please drop me an email at JeffGushman@gmail.com and I will send you some homes. What is your search criteria, where are you looking, and what is your price range?
Thanks, talk to you soon.
Century 21 Castelli... more