David Oaxaca

Having employment is indeed a very important factor in buying a home. One source for financing you might want to consider is FHA lending. I know they have many programs available, go tohttp:// www.hud.gov or talk to a lender who does FHA lending. Ask them about FHA Graduted Payment Mortgages or FHA Section 245(a) programs.

As long as you get a job in the same line of work you have been doing for the past two years you will be ok. If you just graduated from college or will be soon, they take that into consideration too.

Hope this information helps you. - Wed May 28 2008, 22:26

It all depends on the age of the property and the number of hairline cracks seen. I Highly recommend the services of a well qualified home inspector. You can visthttp:// www.trec.state.tx.us/inspector to get a list of inspectors. You can locate inspectors by city in the inspector info box.

In terms of affecting value on your property, I would venture to say it can have some impact. I just sold a home were stucco cracks were an issue that needed to be addresed. Overall stucco can be a beautiful exterior finish that will last for years to come.

A wealth of information on stucco can be found in the Stucco Manufactures Association athttp:// www.stuccomfgassoc.com.

If there is anything else I can do for you please dont hesitate in contacting me. - Wed May 14 2008, 16:22

Banks like many other sellers look not only at the bottom line in offers received but also in terms offered. How qualifed is the buyer? Is his/her down payment 20% or more? When will the deal close? What type of financing is being used (conventional, FHA, VA)?

Moreover, keep in mind the lower offer could have started off as the higher offer then negotiated lower based on inspection or appraisal reports.

Arm yourself with a Realtor who has extensive experience in such deals and you will see your odds improve when making offers with banks. - Tue May 13 2008, 22:51

First, do a market analysis to see how that property compares with similar properties in that area. Second, take a look at the condition of the home. Ask yourself, "will it need extensive repairs or not?, Is it worth it?"

Remember banks or any other entity owning foreclosed propeties do not reject or accept offers soley based on the price offered. The financing terms, buyers ability, as well as closing date all factor in.

Never be afraid to make a justifed low offer 10, 30, or 40 percent below asking price. It is good to have sound reasoning for why you are offering such a price. Although no hard rules as to how low an offer a bank will accept exist, you can count on the bank doing their homework. Banks understand the market condition, and want to unload property hopefully with a good return.

The final point to remember is always understand your objective in a deal. - Tue May 13 2008, 22:28