I think you're confused. Only one contact can be accepted but a seller can certainly review multiple offers at once. It's happening left and right in places like Kansas City and St. Louis. It's downright normal right now for houses in decent areas to sell above asking price, although it seems to be calming down a bit.
And yes, people absolutely are listing low in order to encourage bidding wars.... more
You should try to talk to a USDA approved lender as other conventional lenders may not be all too familiar with the USDA RD programs. You can access the complete list of Missouri USDA lenders here:
http://www.rd.usda.gov/files/SFHGLDApprovedLenders.pdf | http://usdalenders.org/missouri-mo/... more
You don't really need either. Your lender and the closing agent will help you through the process. It's the lenders money that's paying for the house so in reality they are the party with the most to lose.... more
The buyers agent isn't going to try and get a higher price, nor is the sellers. Their goal is to get the deal done. They aren't going to jeopardize a deal for A few hundred extra bucks on their commission. That being said, I've done deals both fsbo and using agents. I by far prefer Fsbo. Usually, as a buyer, you can negotiate a better price because no commissions are being paid but that's not always the case. Some sellers are only doing fsbo because they are ultra cheapskates and they want WAY more money for the property than it's worth. But that's the exception not the rule.... more
1st time home buyer question!Looking for thoughts/answers to the following questions in regards to first time home buyer loan:
1. credit score range from 670-710
2. self employed just file 2013-2014-2015 taxes
There a number of appraisal requirements that need to be satisfied on a USDA loan. The property based on its value and features must be considered as modest for the rural area in which it's located. So if the property value is above the median home values, USDA may not approved financing.
Buying a home requires money, stable income, good debt to income ratio, and decent credit, among other things. You can call a local lender and start a loan application and see what you can qualify for. Good luck!... more
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