Paul Huynh

I'm a:	Real Estate Professional
Company:	Coldwell Banker Burnet
Location:	55447 Minnesota
Phone:	(763) 550-7615

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Paul Huynh's Questions (0)

Paul Huynh's Answers (7)

Is it possible to apply for home equity as well as mortgage for the first time home buyer?

Asked Wed Aug 13 2008, 12:14 by Jayashree Jo… - 55401 - Home Buying - 6 answers

Paul Huynh answered:

There are many instances where at the closing for a purchase of a home, the buyer simultaneously opens up a home equity line. BUT, to make this possible, there needs to be a large downpayment for the new property being purchased. Otherwise, there's no "equity" for the home equity line to be possible. I hope this makes sense. Another way is to purchase a home/condo that is underpriced in this market, then applying for the equity line down the road when the market picks up and your condo is worth more...thus giving you the equity needed to get the line of credit. - Wed Aug 13 2008, 12:24

My agent took me to a property two months ago and I was very interested but we both agreed that it was

Asked Mon Aug 4 2008, 11:11 by Cheir Harmon… - 55046 - Home Buying - 8 answers

Paul Huynh answered:

I agree with Susan. Your agent needs to show you some comparables to justify his opinion on the home price. This should be part of the conversation/proces with your agent before making an offer on any property. I'm curious on what the list price is on this particular house.....has it been reduced since you saw it 2 months ago? - Mon Aug 4 2008, 12:21

Is it common for sellers to pay the buyer's closing costs? Why is this done?

Asked Mon Jul 28 2008, 20:25 by Al - Minneapolis - Home Selling - 7 answers

Paul Huynh answered:

The seller is NOT paying the buyers closing costs. It's a terrible misconception and poor service to buyer's to have them feel like they are getting something for free. It's all a play on words...I ask my clients that are buying if they want to "finance" their closing costs because that is what they are actually doing. The seller is not paying for anything...they look at their bottonline (net) and either accept the price or not, with closing costs or without. If my clients have the money for closing costs and are not making 6-7% return on that money, I suggest them to use it to pay their own closing costs instead of "financing" the cost. Agents in general need to explain this better to clients. - Tue Jul 29 2008, 07:52

How do we get some initial Housing information for our planned relocation to Minneapolis, MN?

Asked Thu Jul 17 2008, 10:34 by Leslie - Minneapolis - Home Buying - 4 answers

Paul Huynh answered:

There are a healthy amount of options if you're comfortable with a 30 minute commute to downtown Minneapolis. There should be plenty of housing options that could satisfy your criteria's. I could email you some available properties that fits your listed needs, then we could narrow down your options before your arrival. Thanks and good luck packing! -Paul - Thu Jul 17 2008, 11:04

Relocating to Minneapolis, MN

Asked Wed Jul 16 2008, 19:38 by Leslie - Minneapolis - Home Buying - 11 answers

Paul Huynh answered:

Hey Leslie,

I'm assuming that you will be relocating to MN and work will be in the 55402 area code (downtown Mpls). A commute of 30 minutes to the downtown area would allow you a wide variety of options for the surrounding suburban areas. The need for a large master bedroom, bath and walk-in would generally mean a newer home, since these amenities were not included in the older/classic homes. In your price range, there are a healthy selection of properties to choose from that would fit your criteria's. Please let me know how you would like to proceed to get properties to review. Thanks and good luck. -Paul - Thu Jul 17 2008, 07:39

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