Not sure if you received any answers, but with a new mortgage the additional debt and the new credit inquires as part of the loan process will lower your credit score. As time passes and payments are made on time your credit score will change and improve.... more
Read your HOA bylaws and restrictions carefully. If they have the ability to fine you, they can potentially place a lien against your home and, after a certain amount of time, they may be able to foreclose on your property. You do not want to lose a home over a dispute with the HOA. If you cannot settle your dispute with the HOA board on your own, I would suggest talking to a lawyer to learn what options you have.... more
Consider flagging the listing by clicking on more tab. If you were scammed consider reporting to the local authorities. Be aware that scams do exist; be mindful that such web sites are third party sites, they are not real estate companies and used for advertising purposes; the information is fed by various sources, therefore data is not really verified. If you choose not to work with an agent of your own always verify ownership before exchanging any money/personal information--make certain they are who they claim to be. Never wire any money, if it sounds too good to be true, it is. For scam related information see link.
The best answer is right in your HOA resale package or HOA agreement that you signed when first bought the property. If you lost the original, you can ask for a replacement copy from your current HOA.... more
Amy, there are many different investore buying loans which have varying guidelines. You need to pre-qualify with a mortgage lender and ascertain any remaining adverse impact on your credit and credit score.
Start the process and continue to re-build yourcredit. It's a great time to buy!
Please feel free to contact me. I'd be happy to help you in your search for a rental and a new home once you guys determine the area you'd like to purchase a new home in. Best of luck! Hope to hear from you soon. firstname.lastname@example.org or 864.901.8141 cell#... more
Having a resource to help with HOA information and documents makes life easier. Recently, when selling a home in Ohio, Association Online provided me with all the HOA details for the listing, and then provided all the documents - by-laws, financial statements, covenants, etc. They made sure the package was complete, making my work easier. Their web site is well organized and very easy to use - www.associationonline.com . Call their team of experts â€“ they are great to work with (970-226-1324).... more
A few years back, Greenville County started using Tax Appraisal Value of a property as a basis for calculating the property tax. Two percentages apply: 4% if the home is owner occupied and 6% if it is non-owner occupied like rental property for example. The disparity you ask about could have something to do with the size of the home thus the higher tax appraised value and the aggregate may include back taxes to make it higher.... more
Another option is to do a flat fee listing. Not all real estate companies offer this. Not only does Only Way Realty offer full service listings, but we also have several options for flat fee listings. Among other things, a flat fee listing will get you in the MLS, on realtor.com and into Trulia. You still negotiate your own contract, repairs and closing. There is a one time up-front fee that ranges from $298 up to $698 depending on how many services you want. I would be happy to help you with this.
Katherine Monteith, REALTOR, e-Pro
Only Way Realty - Greenville... more
In South Carolina a homeowners assessment is paid by property owners to their subdivision's homeowner association and is not a governmental entity. Before you buy a property you should always review the recorded covenants to see what you are getting into and what all of the common property is. Typically the amount of the initial assessment is spelled out along with rules on maximum rate increases.
These assessments cover the costs of managing and maintaining common properties - examples of the types of expenses are landscaping, repairs and maintenance to road access gates, the professional management company's fee, reserve funding for future capital expenses, etc. Some subdivisions have private roads and others have public ones. If your roads are private, there will be a line item in the budget to repair these and reserve funding to repave at a later date.
Also, don't be surprised if the developer has reserved the right to control the association until a substantial build out has occurred. This in itself is not a bad thing - they normally want to ensure that the property is maintained to a high degree until they are substantially sold out. Also, until a certain amount of properties are sold, the developer will frequently subsidize the association.... more