Wow! That is a lot of information to absorb, Are you representing yourself? Or do you have an agent of your own? You need to talk to them, and if you are representing yourself, you need legal counsel, see the thing in a forum like this is we cannot see the contract, the addendums etc we cannot advice you on legal matters. We can however refer you to legal counsel. legalhelpers.com might be a good place to start...to many unknowns in this questions you need additional assistance that noone on here is going to be able to provide, contact your realtor, their broker and when all else fails legal counsel.
Good luck sorry your home buying process is less than exciting... more
If you continue from here, you have given the perception of being "OK with everything". Short sales are not friendly transactions but your agent should have been coaching you better. If you don't yet have bank approvals, you should not have gotten inspections. AND you don't have a fully-signed contract which means the 2009 tax credit is not an option for you.
Sounds like BOTH agents are rookies. Fire your agent or set the precedent that you're "OK".... more
If your property in question is listed for sale and if you have an agent, he/she can update the information for you--just ask--or you may wish to contact Trulia's customer service directly and inquire-- customerService@trulia.com... more
Hi Jack. Our office has a list of home inspectors that we prefer. Send an email to ChristiansenTeam@gmail.com and I can forward it on to you. Do you have an accepted offer on a home already or still looking?... more
Much too long, too many people asking more then the houses are worth and cluess agents as well as brokers trying to scam people into thinking that the 2006 prices of which led to this mess are still prevelant today.
An informed buyer who knows the comps, researches and is ashamed at all the people taking advantage of prospective buyers... more
What is that house worth though? They may be asking $144k with upgrades but do the comps reflect it?
Also is the builder moving units rapidly and do you feel like you will miss out? Im assuming you want it locked in before the 30th to get the tax credit?
If they arent moving units, play hard ball. You have cash and should use that as your leverage. 4k isnt much off asking unless they are already undervalued and have buyers lined up to come behind you.
Although in theory having consistent guidelines that everyone needs to conform to is very desirable, the execution of this seems to me to be off.
The toughest part of it for me has been that costs on the new GFE are a "worst case scenario" as opposed to what the costs will actually be at closing. There are some items which are normally paid for by the seller here in Michigan, such as transfer tax and owners title insurance, that have to go on the GFE.
It takes a lot of effort to explain this to the borrower and not make it sound like you're trying to pull a fast one on them :) It makes it even more important to work together with their realtor to make sure our customer understands. It also makes it imperative that we touch base with the title company early in the process to have them provide the borrower with ACTUAL costs.
I think this creates more work for ethical lenders who've always disclosed things properly anyway. It's just a shame that we're forced to work more to make up for those shady lenders who've relied on the old bait and switch.
Just my two cents...I'm interested in seeing what others have to say... more
Hi David. It really depends on the area. There are plenty of homes in the south east area of Fort Wayne that are under $20,000 that may rent for $400 a month. There are other areas where the purchase price and rents are higher. Let me know if you would like to chat a little more about what you are looking for.... more
Yes, there are some banks willing to give out loans without much documentation if you have a large down payment like 40% and up. I've closed several transactions where the bank was willing to take the risk on the foreign buyer who just came to the US to work, so no W2, but with large down payment.
Alisha Chen... more
Contact your County Public Trustee's Office, if you are in a State where there are no Public Trustee's Office then go your Local Sheriff. Notify them immediately. This will not stop the foreclosure. It will give you some time. Also Check with your Local Government offices. There are programs that are working on this issue. The BIGGEST and MOST IMPORTANT thing is to stop paying the landlord. Ask for the mortgage statement and talk to them and maybe pay them.... more
The house is liveable, but there could be possible treat for harm. Here is a website that might answer your question best.
Please, let me know if I can help with anything else.
Sheriff’s sales are generally a way for the lending institution to get possession of a property on mortgage foreclosure so the property can be resold. The lending institution can bid their judgment in addition to interest, taxes and attorney fees without putting up the cash. The plaintiff’s bid will also include the cost of the sale. So if you have a mortage on it, it will probably go back to the bank.... more
I'm sorry to hear you are having difficulties with your home, like many Americans. A short sale may be a good solution. Some of the lenders will give you a little money for the move, and it will not impact your credit like a foreclosure. Unfortunately you would not get to keep your home, but at least you would avoid losing the home and be able to get out from undernegth it! You definately do sould like a good canidate.... more
Find a lender and get qualified and get pre approved..Shop a lender like you would your home. Very carefully..Get referrals from friends, relatives or realtors. Find a good experienced full time Realtor. Shop location 1st, then check out school districts and then your home search.. When you find the right home make sure you have a contingency addendum in contract for a home inspection.. I wouldn't buy anything with out a home inspection from a good qualified licensed inspector to search for any defects in home that you might not be aware of. Good luck.... more
The Fort Wayne Airport is on the southwest side of town, near I 69. Indianapolis is approximately 2 hours or so from Fort Wayne (driving), Detroit is approximately 3 hours or so away.
How soon are you looking to move? Please let me know if there is anything I can do to help you find housing or answer any other questions for you. Feel free to email me directly at JaredChristiansen@gmail.com, call me at 260-704-0842 or visit my website http://www.FortWayneHomes4Sale.com.
Thanks Susan and have a great day!... more
Thanks for your post. By the sounds of it you client will need to get the FHA 203 rehab loan. This allows to purchase properties in need of repair the ability to get the home and the funds escrowed to complete the repairs.
Repairs must be completed by a FHA repair person and it is a much longer process for approval. While two types of 203 are on the market the only ones with any real use is if repairs are under 35k.
Hope this helps
I you purchase with a purchase money mortgage you should qualify. With a contact for deed I am not sure and you would have to check the regulation. My thought is that it would not qualify because ownership does not transfer until the deed and title transfers on the last payment.... more