Hi, There are several neighborhoods in St Paul that meet the criteria you are looking for, to name a few; Como Park (see my listing at 935 Iowa Av), Highland & Summit Hill. It depends on the price range & style of home you are looking for. What's you main criteria for a house? My name is Kari Olson & I'm a Realtor that works & lives in St Paul. I'd be happy to show you around the neighborhoods and help you find a home that fits your needs. When will you be in town? You can reply to this message with contact info or you can check me out on Trulia or other social media & contact me that way. Kari... more
If the house isn't too big, installing duct work shouldn't be too expensive. It depends on a lot of different factors, though. I think the best thing for you to do now is to get an estimate for the air conditioner and then try to compromise with the seller on the price. http://kasselac.com... more
If you are a for sale by owner the post is not allowed; if and when you do list with a broker, ask your agent to post the listing, or consider any flat fee realty company that feeds into the site....... more
We typically charge one side of the commission if we sell something off market, so that would be half. You should negotiate with the agent and decide whether or not it's worth just putting on the market in order to attract other buyers. If this buyer bought it so quick don't you think others will? You are in the drivers seat because it hasn't even been listed yet.
One of the first things that is done is to get a FHA case number and when they do, it would show if you qualified for the program or not. It would be inconceivable and almost impossible for anyone to completely process a FHA streamline without having a case number assignment that clearly shows the UFMIP and MIP amounts unless your loan officer is clinically brain dead!
Click here for more information: http://fhamortgageinfo.com/case-number/... more
Mortgage lenders require homeowners to carry homeowners insurance. There are a number of reasons for this but the most important one is that your lender will want your home rebuilt in case of catastrophe.
Your lender's mortgage is collateralized against the home, after all. Without the home, the mortgage has little value. By requiring homeowners to carry insurance for at least the cost of rebuilding the home, then, the lender and homeowner are both protected from disaster.
Proper coverage will protect against foreclosure after a tornado, hurricane, or earthquake, as examples.
Fine all Homeowners Insurances here: http://fhamortgageinfo.com/homeowners-insurance/... more
most likely not. Home equity loans are often tougher to get because they are not backed by Fannie Mae or Freddie Mac. It's going to be a couple more years before you can even get a primary mortgage. Most lenders will require 4-7 years after a short sale to get any type of home equity loan.... more
Are you a contractor? I think that's a viable business plan, but you're better off building a relationships in person. I'm assuming you have a local area that you service-- it wouldn't be hard to connect with realtors who also work in that area. If you do high-quality work, you can get a lot of referrals from realtors because they go through clients so quickly. http://www.taylorsitedevelopment.com/services.html... more
If anyone is reading this after all this time and is trying to do a Fannie Mae loan....
First, Fannie Mae is warmer to cash or conventional loan purchases. Many repo homes have a large amount of damage and will not pass the required inspections. Thus, sales have a greater chance of failing if they are other types of financing. If you can do it, try to stick with cash or a conventional loan. If not, be aware of any inspection requirements for the type of loan you are seeking and know that a cash or conventional purchase offer is likely to be accepted over yours.
We recently completed a purchase such as this. We did conventional loan (not without hurdles to navigate) with 20% down. Try a smaller local lender that is more familiar with the area and the situation. Work with more than one lender and ask lots of questions. Have as much info ready for them in advance as you can. Don't try to do this without an agent. In fact, if you can find an agent that is experienced in this type of sale, they can be a great help. Not all agents have the skill, experience, nor taste for this sort of thing.
The property was/is in need of repairs that would have made it impractical to try to get an FHA loan or any that required that type of inspection. The bigger hurdle we encountered was getting insurance since the siding was falling off of the house. We were Johnny on the spot with returning requested information and did not rely on anyone or wait for anyone to guide us. We were able to close in under 5 weeks of the purchase offer being made. We were actually able to close the week earlier except for someone being unavailable because of a holiday of some sort. So it can be done quickly if the buyer stays organized and stays on top of the loan process. Be aware of the insurance hurdle though. That was almost more frustrating than the home loan as the agents seem not to know how to deal with this scenario. It was a simple temporary exclusion to the policy. Fannie Mae does not allow any work or repairs to be done prior to closing-apparently no exceptions.
--- Don't be discouraged and be open to being flexible. We moved in and painted from the ceiling down including removing the trim and painting it and ripped up 2000 sq feet of carpet and tacks and self installed hard wood floors in less than a month and were told it would take us 3 or 4 months to do those things. There are plenty of people ready to say "that is not possible " or " do not bother". We got a 3600 sq ft house that was originally $210,000 for $95,000 ( that was built in 2006) and think it was absolutely worth the effort. Good luck!!... more
I think it's always a good idea to do any updates you can in your home before selling it. It's not necessary, but it might help you sell it. It's especially a good idea if you have an older home like yours. http://www.innerlightelectricinc.com/services.html... more