Home Buying in 55306 : Questions & Answers

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Karissa White, Real Estate Pro in 55437
Karissa White answered:
Since townhomes share a common roof, how are repairs/replacements handled?
Hi Larry,

It can differ from complex to complex. Most are handled by the assocaitions insurance company. If you have a question about a specific assocation, let me know and I can fin ... more
0 votes Share Flag Wed Oct 8, 2014 Home Buying in Burnsville
Cameron Piper, Real Estate Pro in Minnesota
Cameron Piper answered:
I have no mortgage; can a condominium association foreclose on my condo?
Linda,

Great question, but you really need to explore the specifics with an attorney.

The fact that you don't have a mortage is immaterial. If you don't pay your association, e ... more
0 votes Share Flag Mon Dec 23, 2013 Home Buying in Burnsville
Vicki Schwar…, Real Estate Pro in Minnesota
Vicki Schwartz answered:
Can I make an offer on a home that already has an accepted offer and be the back up if that transaction falls through?
Absolutely. I will always take back-up offers on listings. There are many things that could change during the process. Do you have an agent or need help in writing a back-up offer?
0 votes Share Flag Mon Dec 23, 2013 Home Buying in Burnsville
Jennifer Sex…, Real Estate Pro in Shakopee, MN
Jennifer Sexton answered:
If I have cash for a cash offer do I have to have preapproval papers on a HUD home?
You do not need pre approval letter but
You will need proof of funds from your
Bank.
0 votes Share Flag Mon Jul 2, 2012 Home Buying in 55306
Jennifer Sex…, Real Estate Pro in Shakopee, MN
Jennifer Sexton answered:
home buying in burnsville!! (:
Good evening,

There are many homes available with the criteria you asked about. I would welcome to the opportunity to speak with you to narrow down the search to the perfect home f ... more
0 votes Share Flag Mon Aug 19, 2013 Home Buying in Burnsville
Michael Emery, Real Estate Pro in Minneapolis, MN
Michael Emery answered:
As 1st time Home Buyer can I get downpayment assistance?
Depending on your income limits, you might be eligible for down payment assistance. There tends to me more programs within Minneapolis and Saint Paul, but there are programs for suburba ... more
0 votes Share Flag Thu Mar 15, 2012 Home Buying in Burnsville
Rachel Luckow, Real Estate Pro in Lakeville, MN
Rachel Luckow answered:
I live in MN and would like to rent out my townhome (primary res) and buy a 2nd home. What do I need to know?
I would start by talking to a loan officer that you trust. You cannot claim rental proceeds until you have collected them for 1 year. What that means is that you will have to be able to ... more
0 votes Share Flag Sat Apr 28, 2012 Home Buying in Burnsville
Michael Emery, Real Estate Pro in Minneapolis, MN
Michael Emery answered:
Is it better to buy 2 cheaper condos- rent out one of them and live in the other, or buy a more expensive townhome and live in it?
Have you factored in the non homestead taxes into your expenses as well as any future pending or proposed assessments you would need to pay on both units?

Have you factored in that y ... more
0 votes Share Flag Fri Dec 6, 2013 Home Buying in Burnsville
Jennifer Kir…, Real Estate Pro in Minneapolis, MN
Jennifer Kirby answered:
Trying to buy foreclosure, want to use incentive program, being told not to... please advise?
A question, is this an incentive program with Burnsville, Dakota County? If you can let us know the name of the program, it will help us better answer your question. Thank you!
0 votes Share Flag Wed Mar 3, 2010 Home Buying in Burnsville
Luke Allison, Real Estate Pro in Asheville, NC
Luke Allison answered:
Questions for lenders/brokers from a first time homebuyer: dubious about my current lender?
This would probably be best to do via a phone call, but I will do my best:

1) Basically you have to choose which loan product you want to run with. FHA loans right now have much loo ... more
0 votes Share Flag Wed May 13, 2009 Home Buying in Burnsville
Jennifer Kir…, Real Estate Pro in Minneapolis, MN
Jennifer Kirby answered:
What is BPO? And what do we need to do?
Usually a bank will not order a BPO (broker price opinion) until they are presented with an offer to purchace from a buyer. Also known as a CMA (comparative market analysis), the bank ... more
0 votes Share Flag Fri Sep 17, 2010 Home Buying in Burnsville
Paula Rushing, Real Estate Pro in Southaven, MS
Paula Rushing answered:
What is a fair 2nd offer?
It sounds like you are trying to purchase a foreclosure since your offer was rejected by a bank. In today's market the banks have so many foreclosures out there that they are trying to ... more
0 votes Share Flag Wed Jun 24, 2009 Home Buying in 55306
Anette Nordv…, Real Estate Pro in 27609
Anette Nordvall - Real Estate BROKER, ABR answered:
Should we count on the listing agent?
When it comes to a short-sale you negotiate with the bank. The Seller has to sign the contract yet the final decision maker is the lender that holds the note. Depending on who you are d ... more
0 votes Share Flag Fri Mar 25, 2011 Home Buying in 55306
Aaron Dickin…, Real Estate Pro in Minneapolis, MN
Aaron Dickinson - Edina Realty answered:
How to find a home before hitting the market?
The only way would be if you know the agent listing the home or if you are working with an agent that networks with their peers or uses an in-house networking system. Edina Realty (my ... more
0 votes Share Flag Wed Jun 24, 2009 Home Buying in Burnsville
Jason Tangen, Real Estate Pro in Saint Cloud, MN
Jason Tangen answered:
I am planning on putting an offer on a house, need suggestion on bid?
Hire a buyers broker to work on your behalf. Let them do the work on determining what a good offer is for this home. It doesn't cost the buyer anything to have a professional working ... more
0 votes Share Flag Mon Feb 25, 2008 Home Buying in Burnsville, MN
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