You should consult with a Real Estate Attorney and have him or her review the listing agreement. Not all agreements are created equal and it may be possible a commission would not be owed if you purchased the property from your parents. Again, however, you should speak with a licensed attorney specializing in real estate.... more
Yes my Company Better Homes of American Heritage Federal Realty, is owned by American Heritage Federal Credit Union. The Credit Union pays a 20% rebate of the commission to any member. It only cost $15 to join and the money goes to charity.
So contact me to get your rebate. The only stipulation is you must use a Better Homes of AHFR realtor. Thats me :) 610-952-5882 www.ShopPaHomes.com... more
The thing to know is that some agents will allow for you to be able to look at a home or two but generally... until you have your actual pre-approval letter there is no way to know what you can actually qualify for. It is to your advantage to work with a team that is upfront and clear about what you need to do so you are not found spending money that can be lost and setting yourself up for a bad experience.
Some Lenders try to keep their clients on the hook so to speak by making you feel like you can qualify when you are not actually able to as of yet. It is too bad that ones don't have the heart to help you see how to do so and give you the guidance and care to help make it happen.... more
Usually a deposit is submitted along with a purchase agreement. The deposit is a sign of good faith (called an "earnest money deposit") that the buyer intends to complete the purchase of the home. Within that purchase agreement there are typically provisions outlining under what circumstances the EMD is refundable. Common examples are if there is something the buyer doesn't like on the private inspection or if the home doesn't appraise. The buyer, however, has an obligation to apply for a mortgage in a timely manner and provide a mortgage commitment or approval within a reasonable time frame. A month should be long enough to secure a commitment, although sometimes it takes longer. You or your Realtor should reach out to the buyer and demand an update. Either way, your Realtor should be answering these questions for you.
Are you selling the home without a Realtor and someone simply gave you some money to "hold" the home for them without both of you actually signing a purchase contract? If that's the case, then things are a little more dicey and you probably should consult with an attorney. If it were me in this case I would write a letter to the buyer telling them you are no longer holding the home for them, here is your money back, best of luck. Send it certified mail so there is no confusion. Keeping the money just muddies the water if they want to come back later and try and force you to sell them the house. Not sure they'd have a case, but better safe than sorry.
A FHAhome inspector has an obligation to inform his customer, the potential buyer, everything about the condition of the home, from simple things like ripped carpet or leaky faucets to major roofing or plumbing issues. Just because minor issues may not affect the safety of a home it does not mean they are not costly to repair. A potential buyer could find out from an inspection report that the home is not in the condition she believed it was in, and she may change her mind about continuing with the purchase. For this reason, many home purchase contracts contain special language that makes the contract contingent on the findings of a home inspection and allow for negotiation of repair costs or purchase price.
Click here for more information:http://fhamortgageinfo.com/home-inspection/... more
If it were me and I were you, I would contact the attorney in Illinois (who handled the probate,) and ask what is necessary to sell and whether or not you received the appropriate paperwork at the conclusion of the proceeding.
If you qualify for a VA loan you can buy with no money down and roll most of your out-of-pocket costs into the loan. Otherwise, keep saving and work your way up to 20-30% of the price of the home. Best of luck...... more
I am very familiar with this location and enjoy it greatly. You should stop by the local Police department and get a crime report of where you may be staying. This is the best way to get the facts about the neighborhood. Good Luck!... more