03103 : Real Estate Advice

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Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
we have a p&s to buy a foreclosure. Have had the inspection, but not the appraisal yet. Can we back out now and get our deposit back?
This is when your buyer agent earns their money, they should be assisting you. If you did not have one you may need a lawyer to review your contract. Your question was about a month ago ... more
0 votes Share Flag Sat Mar 12, 2016 Home Buying in 03103
Becky Johnson…, Real Estate Pro in Canton, MI
Becky Johnson, ABR, e-Pro, CNE answered:
My wife and I, both REALTORS (R) are looking to buy our first home together, How does the commission work? What do we do as both REALTORs?
Here in Michigan only 1 Buyer's agent gets paid, so I would flip a coin or split the commission. Or as a wife my motto is "Happy Wife, Happy Life". Good Luck!
Remember you still have t ... more
0 votes Share Flag Tue Dec 23, 2014 Home Selling in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Which town in Southern NH would be good opportunity to buy an investment property i.e. two family home, single family home or condo....
Even though the question was asked in March of 2013, it is still a popular question from those seeking a real estate investment. Manchester remains as the leading city for investment pr ... more
0 votes Share Flag Mon Sep 8, 2014 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
My credit score is 680. I pay 1800 a month for rent. I have a small reserve to put down. What should I look at for house costs ?
Jonathan there is no doubt you have received a wide range of advice. INDEED old school Real Estate agents did sit down and pre-qualify their buyer letting them know what the APPROXIMATE ... more
0 votes Share Flag Tue Mar 11, 2014 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
what would my credit score have to be to get a mortgage loan?
Jonathan mortgages are not just based on credit score. With a large down payment, credit score can be nearly anything. Your best bet is to meet with a local and trusted loan officer who ... more
0 votes Share Flag Tue Mar 11, 2014 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Question on mortgage and old collections
Andrea before you reach out to the collection companies, meet with a local and trusted loan officer. If you would like a referral of some good loan officers I can certainly forward thei ... more
0 votes Share Flag Sat Nov 2, 2013 Financing in 03103
Jim Olive, Real Estate Pro in Key West, FL
Jim Olive answered:
Investor/Owner Financing
As Scott points out...seller financing is not as common now as it has been in the past few years, when it was a buyer's market. Now that the tables have turned, and the seller's are in ... more
0 votes Share Flag Wed Sep 18, 2013 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
does filing bankruptcy chapter 7 restart the clock on a foreclosure notice?
For legal questions you should ask your bankruptcy attorney. When you file with the court, it will halt the foreclosure temporarily. the bank can ask the court for an order to continue ... more
1 vote Share Flag Sun Aug 25, 2013 Foreclosure in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Looking for mentor in real estate investing in Manchester NH
I agree that anyone you have to pay is not a mentor. Start with a good Buyer Broker who is WELL experienced in Investment properties. If you would like some assistance in getting start ... more
1 vote Share Flag Wed Jun 12, 2013 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
how do I get Trulia to revaluate my homes worth.. I put in the added updates but it did not change the value
Patty the estimates you see on Trulia and similar sites are often not realistic when it comes to what a home is worth in todays market. You often can not change what they have in their ... more
0 votes Share Flag Sun Dec 2, 2012 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
S-Corp to purchase real estate
There are pros and cons to both. If you are living there you should want to take advanatge of the tax benefits it being owner occupied. If it is going to be a rental, then you mnay want ... more
0 votes Share Flag Tue Aug 28, 2012 Home Buying in 03103
Maria Cipoll…, Real Estate Pro in Coral Springs, FL
Maria Cipollone answered:
fha buyer. can buyers lender use sellers old fha appraisal that was completed a few months prior on a refi?
Hi,

When you say a few months old. Is a 2 or 3 months old. Yes, it could be used as long as the lenders agree. If is older than 3 months I do not recommended it to do that. The c ... more
0 votes Share Flag Fri Aug 17, 2012 Home Buying in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
do you know how long i can live in my home after its been sold at auction in NH?
Sheila if you rented they would giove you a 90 day eviction. If you were owner occupied they will give you a 30 day eviction. Once the auction is complete the home is usually assigned t ... more
0 votes Share Flag Tue Mar 27, 2012 Foreclosure in 03103
Greg F., Home Buyer in 03104
Greg F. answered:
Mill Conversion/Loft Condos
Undesirable neighborhood. Stay away.
0 votes Share Flag Thu Jan 27, 2011 Market Conditions in 03103
Matt Heisler, Real Estate Pro in Westborough, MA
Matt Heisler answered:
I'd like my terrible roommate out, what can I do?
You can ask your friend to leave, certainly. Your friend is a tenant, friend or no. He has no ownership rights to the property. He probably does however, have implied tenant rights. ... more
0 votes Share Flag Wed May 5, 2010 How To... in 03103
Dane Hahn,  in 34223
Dane Hahn answered:
Can seller contribute towards down payment?
Just a quick addendum to my answer below,
HUD says FHA borrowers can now receive the $8,000 tax credit up front and can be used for closing but not for a down payment. This is a power ... more
0 votes Share Flag Fri May 29, 2009 Financing in 03103
.,  in Amherst, NH
. answered:
POLL: How many of you have delays/extensions on your Buyer's getting financing/loan commitments?
Hi Daisy,

On a normal resale property the time for commitment can be as little as 3 weeks from executed purchase and sale agreement and probably not longer than 4 weeks. This can be ... more
0 votes Share Flag Thu May 15, 2008 Financing in 03103
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
How long should my house stay on the market until I drop the price?
This is one of the most asked questions, especially lately by my home sellers. 14 days is too early to take a drastic price descrease unless the home was priced way over market value to ... more
1 vote Share Flag Tue Oct 23, 2007 Home Selling in 03103
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