I am doing a construction to permanent loan with Bank of NC and they are located all over the state. For these loans with almost all banks, you need to have 25% equity or 25% down. $30k won't do it on $500k. The strategy for avoiding a jumbo loan works with a first and second, if banks are still doing that. It is mostly local banks that do construction to perm loans. Suntrust is one of the few banks that overlooks medical loans and has special loans for doctors. Why don't you begin by talking to lenders so that you understand all of your options. Good luck with this.
By the way, one of my first questions to you would be why saddle yourself with such a huge loan overhead? Why not buy a house that is less expensive but in an excellent location so that you can sell it later and buy the house you really want? In the meantime, you'll pay down both medical and home mortgage, end up in better financial shape.
Vivian Olkin, aka CrazyViv... more
Good evening, Melissa:
Of the 1087 single family homes sold in 28173 in the last 12 months, the average day on the market was 88. Average price per square foot was 105 and average sales price was within 4% of final list price. $2000 was the average seller paid closing cost, although many sellers paid 5-7000 and others paid nothing. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service and excellent data when you purchase or if your listing expires. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.... more
Good evening, Michael:
What questions do you have about the Club or this property at 1108 Shinnecock Ln., Marvin, NC 28173? It is a great community that offers a wonderful country club lifestyle. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.... more
There isn't a field in our MLS to search by floor plan. It is possible however to search by builder to some effect. Please contact me directly (704-200-6411) so I can get more details from you and see if we can't find a home with that floor plan or atleast very similar.... more
Absolutely! Regardless of the location, there are few exections nationally where the real estate market for new construction will not tolerate negotiation of sales price. Your chances are poor however, if you are inexperienced and going it alone - without an agent to represent your interests.
You will want to assess the builders volume of inventory and the average time it is taking for homes to sell in the subject community. The more inventory on hand and the longer it is taking to sell that inventory, the greater the opportunity for negotiating price, and/ or upgrades.... more
I am NOT a pro. I DID read though that the banks don't want to issue a fixed rate loan on any house for more than the market value, which sounds likely. What that means is that if the house is under-water, they won't issue a mortgage for more than the going market price. So the owner would be forced to put up the difference in cash between the unpaid balance of the old mortgage and what amount the bank wants to invest in the house.... more
Contact a local Realtor about doing a Short Sale. Most lenders will postpone the Trustee Sale/Auction if you get a realistic offer submitted to them for their approval. Since your sale date if fast approaching, you should contact a Realtor as soon as possible (today).
I just saw your question & did a quick MLS search for you. There are several withdrawn properties on Bonds Grove Church Road but none of them had been listed as forclosures. As you stated, there is only one property currently available on Bonds Grove.
I would be happy to answer any questions you have about the Marvin area or assist you in your home search. I am working with another buyer currently looking in this area & I am very familiar with the communities & available listings.
Allen Tate Realtors
Instead of asking, you could simply make an offer with those terms and price and see how the seller responds. However, I'd check the comps before making that offer, since it's possible that the current market value could possibly less than $200K.... more
Generally in new construction, materials are not ordered until there is a contract, therefore, any upgrades that you make have an additional cost to cover the materials as well as installation of those materials. The standard price of the house is what it is and additional upgrades are an additional price. Many of those things are spelled out on the builder contract that you probably signed when you contracted to have your home built. Hopefully, you used the services of a good buyers agent to education you of the proper expectations when buying new construction. Remember, that very friendly & nice sales agent that works for the builder represents the builder, not you!!!! A buyers agent helps to let you know what to expect when going with new construction.
I wish you all the best with your new home!!!... more
Your septic installer should include it in the bid. The "cost" is in moving the equipment to the site for only doing the perk test. For doing just the test I'd guess $500. $400 for cost to move equipment $100 to dig holes
I just sold a home like that. You couldn’t get a good picture and you couldn’t tell how big the home actually is. Key was getting as many people inside as possible. I was hosting lunches for brokers as well as wine and cheese parties for everybody that wanted to come. Don’t forget to offer free stuff, $50 gas card did wonders for me. Good Luck!
Your North Carolina Broker
Why do you think that? Have you not had enought activity? Are you priced correctly? Pricing in this market is a key factor in why a home does not sell. How long has it been? Is it a short Sale? Is the house in need of repairs? Is it very clean when buyers come? A tidy home reflects and makes an impression that it has been well cared for.
I think we need alot more info to help you.... more
Great question! If you access Map Quest.com and type in 'landfill' in search field with the city/state - it will reveal all locations found on Map Quest. You can expand or tighten the map search to reveal more data.
Hope that helps!
Margie Casey, Southeast Discovery... more
Why wouldn't you want to use a Realtor? The Builders have already built the commissions into the price of their homes. The only one you are helping by not using a Realtor to represent you is the Builder. Everyone has the right to have representation and should. The builder most definitely does not have your best interests at heart. And, having an agent to help you with decisions and guide you through the process is invaluable. There are inpsections, surveys, negotiations, timing issues and so much more that you will want the advise of a professional to help you with. I suggest you call your Realtor and bring them into the picture. Finding the home is not the important role a Realtor plays, getting you to the closing table with your sanity in tact is!
A Buyers representation agreement is not just about the Realtor finding you a house. It's about having someone to work for you and on your behalf during the entire purchase process. It's the knowledge of the market and helping you make the right choices from the purchase price to inspections and all negotiations in between. As well as using the experience we have in the industry to help guide our clients in making the right decisions. I hope you were able to gain the benefit of all your Realtor had to offer during the building process because the site person works for the builder and has no duty towards the buyers at all. So many times we hear about folks who built and did not work with an agent - I could share many horror stories... I can tell you, that in todays world, finding a home for my client's is only the "tip of the iceberg" as far as what I provide in service. I hope you enjoy your home and remember that showing houses is the fun part for us and the work begins when we help make the initial offer to purchase!
Best of Luck,