Address your concerns with your Realtor if you're being represented.
If not, contact the lender to correct the situation.
This happens now and then.....it sounds like a simple oversight on the GFE.... more
Hi, are you looking to buy or rent? Have you considered? Upscale town only minutes north of the Borgata casino. I can't think of a town that has better nightlife than AC. Also, more local, I live in Haddon Twp. Sandwiched between Haddonfield (shopping) and Collingswood (dining), close to Garden State Park and the Cherry Hill Mall (more shopping), and only 9 minute to Philly.
Let me know if you want to talk.
Eric Axelson, Associate Broker
Yes, the offer price can definitely be negotiated. You would be wise to work with a realtor in your area who can guide you as to how much. You will need an estimate of market value and the realtors' insight as to how much short sales are typically discounted of of market value in that specific geographic area. In my area it is typically between 10 and 15%. You can submit your offer and the bank will negotaite with you.
Buying a short sale is different from buying other homes mostly because of the time they take and also because, after you are finished negotiating with the homeowner, you still ahve to negotiate with the bank. It can take a long time, but the reward is you can usually get the name at a discount off of market value. And, if both realtors, the homeowner and the buyer are all cooperative and working together toward the same goal you can shorten the time frame quite a bit.
Best thing, find a local realtor who has experience with short sales. Good Luck!... more
A townhouse is usually part of a larger association. Tradtionally part of the common charges go in to a reserve fund which covers certain ongoing costs. It isusual for the repair and maintence of the outer part of the structure - exterior walls, windows and roof are the responsibilty of the association.
It is quite different with a two unit duplex that has co=ownership. First it may be eligible for a conventional mortgage depending on the bank. Second, the reserve fund, what it will cover and how it will be used,may be the point of a serious discussion between buyer and seller. Several years ago, my client bought into a 2 unit association. All the rights and responsibilties were spelled out in the agreement which also called for a 3rd party vote in the event of a deadlock between the two owners.
It has worked out very well indeed. Good luck.r... more
If you can show the bank that your new townhouse purchase already has a lease in place which is enough income to cover all of it's monthly expenses (principal, interest, tax, insurance, association fees), and you have a 20% down payment, then you should be able to buy it at anytime. Without the lease and down payment, I believe you have to qualify using your own monthly income against all of your minimum monthly obligations to a 40% -ish debt ratio. All lenders have different guidelines though, so please just accept this as a generalization.
Hi Tara, Are you currently enrolled in the class? The phone # for the Camden County 1st time buyer program is: 856-858-0303. I have a pdf I can send you with the info if you want to email me directly. Yes, you most certainly can and should use a Realtor to purchase your home.... more
Good luck Rob:
How can I contact Trulia?
If you are looking to contact specific departments within Trulia, email is the fastest and most efficient way to communicate. You can find a department specific email address below.
Real estate professionals including Agents, Brokers and Mortgage Brokers
Trulia provides toll free phone support to all real estate professionals. Please log into your Trulia account to view your personal customer support number. You may also Ask a Question at anytime.
If you are a media company or publisher who wants to partner with Trulia, to utilize "Trulia Publisher Platform", or if you have a question about Trulia widgets.
If you are super talented and want to work at Trulia, you can visit the Jobs page.
If you are a member of the media, blogger or analyst you can email us or visit the Trulia News Room for more information.
Advertising on Trulia
If you want to advertise on Trulia, you can visit the Promote Yourself section for more information or speak to one of our
sales executives at 877-776-9521.
AVALAR Atlantic Properties
email: Joe@landmanNJ.com... more
Hi Willie. I am extremely familiar with 08043. In Voorhees, as with may communities, the price will vary by neighborhood. In addition to working closely with buyers and sellers, I perform property valuations for some of the nation's largest asset management companies. I would be happy to speak with you about your real estate questions.
Keller Williams, Cherry Hill
The best answer is probably a question. Do you have an insurable interest in the home? In other words, will you suffer a financial loss if something happens to the home? If you will lose financially then you probably have an insurable interest and you could buy insurance on the home.... more
You are correct! You should contact your County Tax Assessor's Office and request an application for "Re-assessment".
In our county, they require at least 3-4 neighborhood comp's to be attached with the application verifying the market conditions and sales in the area.
A local Realtor can provide you with these comp's "free" of charge, and many have the forms from the County.
Best of luck!... more
I work in Howell NJ and if you are interested, I can show you around or send you homes that are available. Are you looking only for single family homes? Howell is located in Monmouth County but picking an area is up to you. They have some nice home. Call me and I could help you. My cell number is 732-236-8608. Good luck to you!
Office number 732-577-0440
Dear Home Buyer,
You already talked about your first good faith estimate, which means that you have already spoken to a loan officer. If this is the case, the your loan officer should have explained all of this to you.
Basically, a good faith estimate should show everything that you would need, from start to finish, in order to purchase a house. At least it should. My fear is that some loan officers short change a good faith estimate sometimes and if they do this, that means you would need more at settlement. I did write about this. : http://activerain.com/blogsview/1192459/good-faith-estimates-warnings-to-be-aware-of-
And here are some more red flags about good faith estimates : http://activerain.com/blogsview/1082156/good-faith-estimates-knowing-understanding-the-power-of-the-paper-
Overall, I really can't answer the rest of your questions, because I don't know what rate that they are charging you, hence the additional costs that could be points and other lender fees. All I know is that I don't charge lender fees.
On another note, I would be glad to review anything that you have or answer any questions in on the phone.
Jeffrey J. Belonger
Area Manager/Branch Manager
Infinity Home Mortgage Company, Inc
Processing : 800-587-2762
Cell : 609-440-5133
Fax : 775-361-6619
First Time Homebuyers $8,000 Tax Credit - http://www.fhaloansfhamortgages.com/8-000-first-time-home-buyers-tax-credit-the-specifics
Good Faith Estmates - All you need to know - http://activerain.com/blogsview/1082156/good-faith-estimates-knowing-understanding-the-power-of-the-paper-
Blog Page : www.fhaloansfhamortgages.com
Profile : www.activerain.com/jeffmortgageman
"The referral of my service to your friends and family is the highest compliment I can receive."... more
The GFI won't show the 3.5% down you can ask your Loan professional to provide page 4 of the 1003/URLA that will give you an idea of cash needed to close including your cosing costs and deposit for FHA.
Century 21 Elite Realty, LLC.
337 Changebridge RD
Pine Brook NJ 07058
973 244 7980
You would need to find an investor to purchase your property. But again, think about that statement, an investor is going to look to get a bargain, rent to your to cover his monthly and then sell it for a profit at a later date. So, this is possible, but it would have to be a benefit in returns for the buyer.
It may be possible, you have to put it out there.
Good Luck.... more
Your best bet is to contact a Realtor in your community that specializes in short sales and foreclosure homes. They will be able to give you the most amount of information on the property as well as knowing which lenders to contact.... more