Mike, it all depends on who is doing the ratings and how they collected the data. You should talk to a person, ratings on computer programs can be wrong...and biased. It could be a "bad" area. I can tell you that the prices of homes and the appreciation are a real good indication of the area, as well as crime stats. But again, crime stats can be misleading as well. Talk to somebody (like me) who knows the neighborhoods.
It's tough to really know the exact timeframe. Usually it is a 3-6 month window depending on when the bank gets the deed in there name. Are you working with a realtor? I am a foreclosure / short sale specialist and would love to assist you. As a buyer I am a free service to you. 614-581-2086... more
Hopefully you are using a buyers agent, they should be able to better advise you. Are you in the inspection period? You can often ask the sellers to fix or remedy a problem and if they won't you can walk away if you are in that time frame with no penalty. You can ALWAYS walk away, but you might loose the deposit money. Talk to your agent for advice. If you have no agent or are dealing with the sellers agent, tell them you want out because there is mold and either they fix it or you walk away. See what they say.... more
Hi Kms, if you are paying $20,000 down then the balance you are looking to finance is $29,000. Correct? You also say your credit score is poor. When is the last time you spoke to a lender? Your scores would need to be at least 580, in most cases even 620 to qualify you for a loan.
What type of property are you buying? With such a large down payment, the seller might be willing to carry the financing for you.
Another option would be to look for a private lender, an individual who could loan you the money rather than a bank. A private lender may not be concerned about your credit score as much as your current financial situation.
Feel free to contact me for more in-depth information.... more
Superme,catch 22,if you keep renting thats 2 yrs out the window,if you buy now,right,your good,and you can take adv of the 8k tx credit,etc..you have til dec1,to buy or kick urself in 2 yrs,I say.
TJ: ABR... more
Do you have a year lease on your rental? If so, you will have to stay the term or pay the remainder of the lease for the year. UNLESS your landlord will let you out of the lease. As far as the home you want to buy, there is no problem for me to put an offer in for you from where you are. I do it all of the time. You can wire the money and we can fax contracts back and forth. Please contact me if I can help you.
Judy EWM Realty judycalufetti.com... more