Home Buying in Union City>Question Details

Ash, Home Buyer in Union City, CA

My husband and i want to buy a town home in union city.We liked a property for 305000 with 1665 sft all new paints,carpets and few appliances.

Asked by Ash, Union City, CA Wed Sep 28, 2011

My husband and i want to buy a town home in union city.We liked a property for $305000 regular sale with 1665 sft 3br 2.5bath 2 car garage all new paints,carpets and few new appliances.Is this area best for first time buyers?What is expected from seller.It has 325 HOA .

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Village Court is a nice complex. I manage a home there for a client - and they seem to be a well managed HOA.
Your loan officer could tell you more about the interest rate you are getting. Since this has to do with you credit score and other factors. However - rates are GREAT right now.
1 vote Thank Flag Link Wed Sep 28, 2011
We might need more information regarding your question.

"what is expected from the seller"
answer: to cooperate with the sale, & agree on a price that benefits him and you, That's about it. You need to make sure you are happy with this home, and based on the other properties you have seen - this home meets the needs for you and your family.

Brian
1 vote Thank Flag Link Wed Sep 28, 2011
Ash:

To be really honest with you, these are the types of questions you need to be asking the realtor who is representing in the purchase of this home.

You ask a number of questions:

Q: Is this area best for first time buyers?
A: That depends on you and your needs. A good home for a first time buyer is one that meets the majority of their perceived needs AND is affordable.

Q: What is expected from seller.
A: That they cooperate with the transaction – this question needs to be answered by your Realtor.

You further ask:

Q: How are rates?
A: If you are asking about loan rates, ask your lender. They should have given you a good faith estimate with your interest rates, monthly payments and so on.

Q: Can u tell me opinion on this property?
A: It is not our place in this forum to give you opinions about any specific property – to do so would put us in an agency relationship with you and you already have an agent. Additionally, although most of us are very familiar with this development, I’m guessing almost none of us have been inside that specific unit. I can tell you that the overall complex is nice and clients of mine who live there like it a lot.

Q: Area
A: Without knowing what you are looking for and your sensitivity to specific issues, it’s impossible to answer this question.

Q: schooling district
A: Go to http://www.greatshools.net.

Q: resale value?
A: Impossible to answer – too many variables.

Q: closing costs?
A: Ask your lender – they should have given you a Good Faith Estimate AND your Realtor should have given you an Estimated Buyer’s Costs sheet with all closing costs included.

Q: Hoa fees?or any other from seller?
A: Don’t know what you are asking here. If you are asking can you get any credits or anything else from the seller, it’s too late to be asking that question.

Here’s my bottom line: it looks like your offer was accepted yesterday and you are now having some doubts because you have a lot of questions that apparently weren’t answered by your Realtor up front. You need to meet with your Realtor today and ask them the questions you are posting in this forum – make sure you get satisfactory answers. To be really honest, these questions should have been answered to your satisfaction by your support team (lender and Realtor) BEFORE you ever made an offer. If you are not totally satisfied and do not feel comfortable proceeding with the purchase, then ask your Realtor to cancel the contract – if it was written correctly, you have contingencies in the contract that will allow you to get out and get your deposit back.
.
0 votes Thank Flag Link Thu Sep 29, 2011
Hi Ash,

Just to add to my earlier post, which I forgot to insert, you have to hire a local realtor. I am quite sure that realtors in your area will be ready to help and the professionals out there know exactly that my answer is a general guideline. It is obvious without elaborating.... I am not from the area.

Best.
Maria
0 votes Thank Flag Link Wed Sep 28, 2011
What's best for first time buyers is whatever requirements fit the buyer's needs and which property meet all if not most of those requirements.

Some first time buyers may have no handyman skills or would prefer not to tackle home repairs -- as such, you'd want to stay away from homes that need "TLC" or are fixers.

Some buyers don't have the time to wait -- so you may want to stay away from short sales because it may take 3-6 months or even longer to complete, and there are no guarantees.

Some buyers want low-maintenance properties -- you may prefer small or no yards, condos/townhouses instead of detached homes.

Some buyers want easy access to public transportation, etc. --- so you may prefer to be closer in to town instead of being way up in the hills.

You get the picture, right?
0 votes Thank Flag Link Wed Sep 28, 2011
As I mentioned, the complex and area is very good. Average HOA due $300+/- so you're okay there too.
Schools are good, you can review the link below;
My opinion is: Good
Closing costs are (most of the time) standard, in regards to who pays for what. You real estate agent should be able to show you what the closing costs are.

Since your agent has successfully negatated your purchase - I hope they will be able to answer all your questions.

Congratulations!
0 votes Thank Flag Link Wed Sep 28, 2011
Property is on village court,unioncity.We got preapproved and placed offer and seller accepted the offer.How are rates?Can u tell me opinion on this property?Area,schooling district,resale value?
closing costs?Hoa fees?or any other from seller?
0 votes Thank Flag Link Wed Sep 28, 2011
Hi Ash,
These should not be the only questions you should ask as first time buyer.
An excerpt from REBAC( Real Estate Buyers Agent Council) which I am a member of.

"Getting Started: What First Time Home Buyers Need to Know


One of the best ways to make the home buying process flow easier is to become better-acquainted with your options and clearly define your goals. Understanding the reasons you want to buy—and what you want to accomplish in your move—will go a long way towards shaping your plans and improving your results.

Perhaps the most important first step involves deciding how you will approach your home search. Who will you work with throughout this process—and how will you work with them? "

Bottomline, hire a real estate agent, especially an agent with ABR designation.

Best of Luck.

Maria
0 votes Thank Flag Link Wed Sep 28, 2011
Hi Ash, not sure where the property is so I can't really tell you much about it. Sounds nice from what you described, I do want to congratulate you on your decicion to buy a home! Your best bet is to find a Realtor to help you. The Realtor in a home buying/selling transaction is always paid by the seller so as a buyer you get the beneift of a professional Realtor's help at no cost to you. The first two and most important steps in buying a home are 1. Get pre-approved by a direct lender (Wells Fargo, B of A ,Fremont Bank ETC.) and get your letter of approval from them so when you want to make an offer on a home you are ready. 2. find a Realtor that you, and you other half (if you have one) feel you can trust and have a good relationship with to help you, so your home buying experience goes as smooth as possible....Dawn
Web Reference: http://DawnRivera4Homes.com
0 votes Thank Flag Link Wed Sep 28, 2011
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