I don't have all the details, but when you say they are waiting on PMI that is confusing. PMI stands for Private Mortgage Insurance. Are they waiting for an answer to see which investor will fund your loan or waiting to see if the buyer is going to need PMI for the home purchase? The best thing to do is call the bank and ask to speak with the Mortgage Lender that is working on the loan. They can't give you specific information about the other parties financial information, but they can definitely give you the information you need if you are inquiring about your own finances.
The second route is trying to document your phones calls or emails to the bank. If the loan officer isn't calling you back, replying to your emails or making false promises then it's time to take it one step further up the ladder. Everyone works for someone and it may be time to ask for help from the Manager of the Mortgage Department.
As a general rule the a buyer can ask all the questions they want, but as the seller, the bank will not give details to you about loan details, but they can share when they might be able to anticipate a closing date.
I hope you are working with a local lender and not an internet company. It is always better to work with local banks that have knowledge of our market then an internet bank that is across the country. Good luck with your transaction and please know that using a licensed REALTOR helps to take care of the worry and the negotiating of all of these issues.
Fairmont is such a hard place to find rental property that doesn't have a years lease attached to it. I sell mostly new construction and my buyers are always having the same problem. Most of them will end up staying in a Hotel with a large efficiency room with a kitchenette and hating it until they move into their new home. I hope you find another option, but this has helped my customers out a great deal.
Suzanne made an excellent point. You have to consider the other party.
I've listed the home of those who were disabled. Yes, they understand the situation,but they still live there.
Others were border line hoarders.
Some really don't want to sell.
Others are occupied by renters who don't care to move either!
Some are barely escaping foreclosure and truly haven't a dime to spare.
Now where do you draw the line?
Yes, I have assisted as my photographer moved the clutter from one room to the next. Yep, as the debris is relocated a major clean up is needed before picture taking. Vacuum, spray and wipe, polish all while my photographer chatters about a big raise in his rates.
But, by dear photographer draws the line at doing dishes and picking up underwear from bedroom floors and if the laundry is stacked high in a corner..he'll take the picture but absolutely won't touch.
Yes, I have assisted in removing that 52 inch rear projection TV from the 12x14 living room that has not operated in 6 years, the extra car, old boats, the ashes of beloved pets and even a 1971 Airstream. Next comes the pet and smoker issues.
Where do you draw the line?
Real estate professionals always prefer the home dressed for the prom. Unfortunately, not everyone gets invited to the dance, and then hard decisions must be made. We all need to understand, it's a business, not a hobby. Where do you draw the line?
After all, these folks do need to sell their home. Some buyers are not suitable for these dirty, cluttered, grimy and blemished homes. This, however, is where the riches reside.
Best of success in finding your Fairmont WVA home.... more
I would contact local community banks to see if they can complete the transaction. In Charleston, these would be Rock Branch Community Bank, Poca Valley Bank, Summit Community Bank. Check your area.... more
You will need to check the covenants and restrictions of the area or community you buy in. We do have some areas that won't allow rental properties, but not a lot. It all depends on where you purchase, but they best thing is to always call you local zoning office to check on your right to set up your property as a rental.... more
do you still have your house for sale? can you send some pictures of the property? We'd be happy to look at it if it's still available. Please email me at firstname.lastname@example.org thanks and hope to hear from you soon!... more
The job of the tax assessor is to provide a value so taxes can be assessed, not to provide real time market data to homenowners. They have limited resources so have worked out systems to provide a fair estimate of value for taxation purposes. These policies differ from one county to another, however they work the same way. In most areas prices do not fluctuate a great deal, so an assessment every couple of years usually makes sense. Plus, when homes are sold, the values are updated.
However, you should know that in MOST cases the assessed value will be either too high or too low, because the market is always changing. And, typically land receives a greater proportion of the value than the improvements.
To your last point, the assessment is fair market value at the time it was performed. In the event of large shifts in the value, the assessor may perform special assesstments to re-value property. In my own County of Los Angeles the assessor re-valued all homes purchased in 2005-2007 because values had shifted so much.
If you want to know how much your home would sell for in this market, as a Realtor.... more
As of today, the average price of all active 3 bedroom homes in Fairmont, WV is $148,000. However, this number is greatly affected by what exactly you're looking for. If you need any help looking for properties, let me know! I'd be happy to help you find something in your price range that meets your needs.... more