Home Buying in Hennepin County : Advice

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Dean Gupta, Real Estate Pro in Minneapolis, MN
Dean Gupta answered:
Can the FHA Loan (have pre-approved letter up to 200k Loan) buy the 3-unit or 4-Unit home (the one sale price from 200K and less, ofcourse) ?
Yes there few things can be in your favor. First live in the building yourself--so it is owner occupied. 2) then if you can show the Rental leases from 2 or three unit, then 60-70% o ... more
0 votes Share Flag Thu Apr 18, 2013 Home Buying in Minneapolis
Alison Hillm…, Other/Just Looking in San Francisco, CA
Alison Hillman answered:
I need a 4 bdr home in Minnetonka (Groveland School District) for my clients to buy, does anyone have a home that they are planning on selling soon?
Hi there-

Take a look at the latest here: http://www.trulia.com/MN/Minnetonka/

Ali, Community Manager
0 votes Share Flag Thu Feb 26, 2015 Home Buying in Minnetonka
Ben Johnson, Real Estate Pro in Minneapolis, MN
Ben Johnson answered:
Can anyone recommend a solid appraiser or appraisal company in 55412?
Dustin Hawkins is great, 612-309-5662.
0 votes Share Flag Mon Apr 8, 2013 Home Buying in 55412
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
Seller has a mortgage so can't do a CFD. Seller is offering a lease. I'd like to "rent to own" this property. How can I?
Easy.

Any good real estate lawyer can do the paperwork. There are two documents--a pretty standard lease and a customized option. Each one is different, but generally the option spec ... more
0 votes Share Flag Mon Apr 15, 2013 Home Buying in Minneapolis
Chris Block, Real Estate Pro in Saint Paul, MN
Chris Block answered:
How long is reasonable for a buyer's agreement?
Ok TAKE A DEEP BREATH IT WILL BE OK! Hahaha

It is quite possible the agreement could have been for a year. I know some agents that will do standard 3 or 6 month agreements. Some like ... more
0 votes Share Flag Wed Jul 2, 2014 Home Buying in 55401
Chris Block, Real Estate Pro in Saint Paul, MN
Chris Block answered:
How do I know when a house for sale for both sides of a duplex home?
Don't look at Twin Homes, which are just 1 side of a duplex. It sounds like you are searching for side x side duplexes. As long as you set up the search correctly those are the only one ... more
0 votes Share Flag Mon Apr 8, 2013 Home Buying in Brooklyn Park
Donald James, Real Estate Pro in Edina, MN
Donald James answered:
Need advise on how to proceeded further/negotiate on redflags on the the Builders purchase agreement
Good questions. I am assuming your have your own buy-side Realtor. Your professional Realtor should lead you through contracts line-by-line.
0 votes Share Flag Mon Apr 8, 2013 Home Buying in Minneapolis
Brian Amiot, Real Estate Pro in Minneapolis, MN
Brian Amiot answered:
In general, are single family homes in MSP selling for the asking price?
Here is a great website for statistics. You can look at the percentage of original price by city, zip, etc. Plus a whole lot more!
http://thething.mplsrealtor.com/interactive
0 votes Share Flag Thu Dec 5, 2013 Home Buying in Minneapolis
Gina Dumas, Real Estate Pro in Plymouth, MN
Gina Dumas answered:
I am a single mother considering a home purchase. I work 3 different jobs none them full time.
As long as your employers can verify your employment, hours worked and likelihood of continued employment, it should be OK. It's a great idea to speak to a mortgage loan officer and ge ... more
0 votes Share Flag Tue Apr 16, 2013 Home Buying in Maple Grove
Kevin Bumgar…, Real Estate Pro in 55112
Kevin Bumgardner answered:
I am looking to purchase a home in the next 6 to 12 months in MSP, coming from San Francisco. What are the top 3 neighborhoods you recommend?
Great question Brie!
There are some good areas in both Minneapolis and St Paul that could meet those needs. I'd be more than happy to give you a tour when you're in the area. I have ... more
0 votes Share Flag Fri Feb 7, 2014 Home Buying in Minneapolis
David O'Neil, Real Estate Pro in Minneapolis, MN
David O'Neil answered:
2014 Taxes Values House at $20,000 Less then 2013
Tax value is just an estimate for taxation purposes and is not what it will necessarily sell for. I wouldn't stress to much about it. Tax values, particularly in Minneapolis, are often ... more
0 votes Share Flag Fri Mar 15, 2013 Home Buying in Minneapolis
Elizabeth Fu…, Real Estate Pro in 55445
Elizabeth Fuller answered:
I have a senior condo I want to rent out. Where are the best places to advertise? (Free is preferred, but all ideas are welcome). Thanks
First, check the rules. Senior condos may not be rentable to others. Your concierge, if you have one, will tell you. If not, you need to check the rules. Remember, these were built ... more
0 votes Share Flag Sat Apr 6, 2013 Home Buying in Minneapolis
Jessica Tracy, Real Estate Pro in 06084
Jessica Tracy answered:
Where to find FHA loan information for first time buyers?
You can go online at http://portal.hud.gov/hudportal/HUD?src=/buying/loans and click on the FHA Lender list to find a mortgage broker in your area. I would also check to see if any loca ... more
0 votes Share Flag Fri Apr 26, 2013 Home Buying in Minneapolis
Chase Lenz, Real Estate Pro in Minneapolis, MN
Chase Lenz answered:
looking for a hard money lender: 36 month term, residential owner occupied. Any recommendations would be helpful.?
Pine financial group is a hard money lender around here.
0 votes Share Flag Tue Feb 24, 2015 Home Buying in Minneapolis
Ron Jensrud, Real Estate Pro in 55305
Ron Jensrud answered:
When is the best time to do a pre-qual on an FHA loan?
It's best to speak with a lender about that. I wouldn't consider an FHA loan at the moment. Too Expensive. Look for a Conventional with minimum down.
0 votes Share Flag Thu Apr 11, 2013 Home Buying in Minneapolis
Chris Block, Real Estate Pro in Saint Paul, MN
Chris Block answered:
Has anyone had any experience with TCF bank trying to cancel a contract because the buyers lender can't hit the closing date?
My best guess is that you don't have many options available. Before seeking legal representation you need to see what exactly your buyers signed (my guess the bank had a bunch of addend ... more
0 votes Share Flag Wed Jun 17, 2015 Home Buying in Minneapolis
Matt Christe…, Real Estate Pro in Prior Lake, MN
Matt Christensen answered:
I am planning to buy a new house. I am not sure whether I should enlist a real estate agent . Any advise/suggestions ?
Anish,

I always recommend that a buyer have representation from an agent. Realtors work with negotiations all the time and know what is reasonable, what areas you can negotiate for ... more
0 votes Share Flag Mon Jan 27, 2014 Home Buying in Minneapolis
Matt Christe…, Real Estate Pro in Prior Lake, MN
Matt Christensen answered:
Meaning of "lender must determine the likelihood of renewal, based on information from the BCIS"?
Abhifyan,

I have not dealt with this specific situation before. I will foward your question to an underwriter and post back here when I get an answer.

-Matt Christensen
0 votes Share Flag Mon Feb 25, 2013 Home Buying in Minneapolis
Stephanie Fox, Real Estate Pro in Minneapolis, MN
Stephanie Fox answered:
Is the current building of new houses expected to continue through the next year?
I think you might see an increase in new home construction as we move into warmer weather. Home prices are rising and the inventory of homes on the market is smaller than it has been fo ... more
0 votes Share Flag Thu Feb 21, 2013 Home Buying in 55446
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Can a seller withdraw an approved counter offer?
This is rather silly;
If the process have progressed to the CONTRACT stage, (what you describe), you are UNDER CONTRACT!
If it hasn't; you are not under CONTRACT.
0 votes Share Flag Thu Dec 5, 2013 Home Buying in Minneapolis
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