Tesa Noonan

Well, it's sounds like your not asking for the moon, however, most foreclosure sales are considered "AS - IS" sales, (at least here in AZ) which means, the Seller is willing to pay for NONE of the repairs. NONE. It could be different in your area, but here, while representing a Buyer on a foreclosed property I would not ask the seller to pay for any fixes or perhaps not the home warranty. A home warranty is ALWAYS a good idea, and I surely recommend you have one in place, just wouldn't ask the Seller to pay for it. They probably don't want to mess around with hiring someone to install smoke detectors either, they just want to sell the property as is and get rid of it. They are likely taking less than they are owed already and don't want to put any more dollars into it. I have gotten them to contribute up to 4-6% for Buyers closing costs, but have yet to get them to make ANY repairs or updates. Just a thought, hope it helps. Also, please keep in mind that each area is different and only your REALTOR knows for sure what is the "norm" for your particular area.
Good luck! - Wed Oct 29 2008, 08:24

Are you asking for much in Seller concessions? How about contingency's? What does your REALTOR say? DEFINITELY not the type of complaints I'm hearing these days! Do you have to sell something in order to fullfill the contract? - Tue Oct 28 2008, 22:17

Well said Gene...I agree completely. - Thu Oct 23 2008, 11:05

Personally, I've never heard a REALTOR compare themselves to a doctor...but a home is typically the largest investment the average person makes. If you are comfortable and feel you know your market conditions and the ins and outs of real estate contracts, many folks can get through a real estate transaction on their own. Studies indicate however, that a high percentage of FSBO's do not close escrow. Why not use a professional to handle what is likely to be your largest asset? Our job is to make the process as easy and as stressfree for you as possible. We have experience with lending issues, title issues, buyer qualifications, inspections and time restraints, disclosures, etc... The choice is yours, of course. Obviously you do not have the highest regard for what we do...however, a highly trained and experienced professional, in any field, can make all the difference. Good luck. - Thu Oct 23 2008, 09:24

If the prices in your preferred area are truly just " a bit" out of your range, a qualified real estate professional may be able to negotiate on your behalf to get the price where you might be comfortable? Of course, that depends on your idea of "a bit". But, given current market conditions, you may have a shot. Sounds like time is your shortest commodity right now if you're already locked in your loan rate, but Sellers are pretty negotiable right now. If condition is a serious concern for you on choice #1, consider the amount you may have to invest into the place to bring it up to snuff. Is this difference less or more than the difference of the homes in the area you prefer? Talk to your real estate pro...you should be able to have this conversation with him or her and come up with a solution that you will be happy with. Good luck! - Thu Oct 23 2008, 06:30

I also have not heard of special loans geared specifically to folks who may be disabled, but there are still first time buyer government programs where you can come in with little or no down and ask for up to 6 or 7% from the seller's to pay for closing costs. Remember...a first time homebuyer is one who has not bought in the last 3 years!! - Thu Oct 2 2008, 10:51

What about speaking with another general contractor and see if you can create some sort of deal? Just a thought...It's better than letting it go unfinished.... - Thu Oct 2 2008, 10:45