As long as when the appraisal is done, the house meets FHA or Fannie Mae guidelines it will be fine. Your Realtor should be able to tell you if it needs any work to meet loan guidelines when selling. If it does meet guidelines for getting financing on it, the seller credit will definitely help with the selling process. Please call anytime with further questions.
All you need is a market analysis to see what the current sale price is and figure out how much you will net after fees. Then you can decide whether it is better to sell or rent. I would be happy to provide one for you. Email me at firstname.lastname@example.org and I will whip one up for you!... more
Condider working with an agent of your own, and place your offer; however before doing so, review comps with your agent, recently sold similar properties in the immediate area, see what the data suggests as to a fair offer. If purchasing with a mortgage, be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.... more
There may or may not be real costs involved and you should speak with the person who locked your rate to be sure.
And after doing that but before walking, imagine a scenario where the lender with whom you eventually lock decides one day that because rates have gone up, he's going to bail on your lock. If you don't quite like the sound of that, maybe you view your current arrangement with a new sense of commitment and value.
Good luck with your decision.
I'm just a perspective buyer myself but having owned (2) condos & seen the condo price volitility first hand I'd say No, it's not a good time to buy a condo in Cromwell... Not yet anyway. If you look at the historical price volitility of homes & condos you're likely to see the condo prices tend to have much higher price booms & crashes than single family homes. When home prices get sky high as they still are in the area, condos become the only financially viable alternative for many. Though the a lower priced alternatine at the moment, with Cromwell's real estate prices declining, condos will likely take a big hit over the next 12 months that many predict it will take for the market to get back into realistic perspective. I've known many people who bought condos near the peak of a market cycle & saw not only their down payment evaporate when the market finished the downward trend but couldn't sell the property for what they owed. To have seen them go through this was scary, frustrating & confining. In the long term condos are likely to appreciate. In the short term there's good reason to expect to loose substantial value.... more