Home Buying in Berwyn : Questions & Answers

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Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
If a foreclosure is sold as is and then afterward you find out that there is a major code violation discovered are you still responsible for the cost?
Hi unclebubarocks,

You need to contact a Real Estate Attorney as soon as possible. They will be able to tell you who is liable: you, seller(bank), or home inspector.

Shanna Roge ... more
0 votes Share Flag Thu Sep 26, 2013 Home Buying in Berwyn
John Burke, Real Estate Pro in Austin, TX
John Burke answered:
Is military disability pay eligible as a primary source of income?
Hi Jreyes,

Yes as long as it's permanent. You'll need a 620 or better middle credit score for a VA mortgage which is going to be the best program available for you.
0 votes Share Flag Fri Sep 20, 2013 Home Buying in Berwyn
Sabrina Ash, Real Estate Pro in 77027
Sabrina Ash answered:
If I have down payment assistance, would that money go towards the earnest money or will be additional money I have to come up with?
Earnest money is paid upfront, and credited back to you at closing. Any down payment assistance is applied towards your down payment and/or closing cost.

If you are still needing a ... more
0 votes Share Flag Fri Sep 20, 2013 Home Buying in Berwyn
Christopher…, Real Estate Pro in Westchester, NY
Christopher Pagli - ABR, GREEN answered:
for a $32.800 house what would be the minumum down payment and closeing costs?
Hi, Your best bet is to speak directly to a mortgage broker or bank. They will assess your needs and financial situation in order to help you choose the proper loan product. Your down ... more
0 votes Share Flag Tue Oct 2, 2012 Home Buying in Berwyn
Dean Rouso, Real Estate Pro in 60154
Dean Rouso answered:
Hi, i was wondering if I can use my good faith money to go towards my down payment?? Or does that money have to go towards the principle of the loan?
Hi Jess,

Your good faith money/earnest money would go towards your down payment.
0 votes Share Flag Mon Aug 6, 2012 Home Buying in Berwyn
Patricia McG…, Real Estate Pro in Oak Park, IL
Patricia McGuinness answered:
Would like to purchase a condo in future, renting in berwyn now. Can someone assist?
HI, Wanda. I would be happy to answer any questions you may have about condos in Berwyn. It's a great time to buy a condo right now. That segment of the market isn't recovering as qu ... more
0 votes Share Flag Tue Dec 31, 2013 Home Buying in Berwyn
Amy Foote, Real Estate Pro in Carpentersville, IL
Amy Foote answered:
I have a credit score of 632, with a closed bankruptcy, can I get a FHA loan?
Sounds like a possibility but there'd be so much more to know to determine! Call my husband, Jim, with Direct Mortgage, for more info at 847-778-9689.
0 votes Share Flag Wed May 2, 2012 Home Buying in Berwyn
K.K., Real Estate Pro in Streamwood, IL
K.K. answered:
why am i out searching for a foreclosure to buy? why isn't the realtor sending me leads? in these times i would think agent would want the
I specialize in working with investors. See my blog. Feel free to contact me.
0 votes Share Flag Thu Mar 1, 2012 Home Buying in Berwyn
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
with more peolpe singning the mortgage will this lower the down payment
Exitos,
No, lenders want the buyers to have some "skin in the game." There are some 0 down loans, VA & USDA but they have limitations and qualifications which may or ma ... more
0 votes Share Flag Thu Dec 1, 2011 Home Buying in Berwyn
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Suzanne Hamilton answered:
with more peolpe singning the mortgage will this lower the down payment
Not usually. The downpayment is based on the program you have. FHA is always going to be 3.5%. If you are looking at a conventional loan, sometimes the down payment required can be l ... more
0 votes Share Flag Fri Sep 20, 2013 Home Buying in 60402
Laurie Chris…, Real Estate Pro in Oak Park, IL
Laurie Christofano answered:
I want to buy A home In 'Berwyn IL, and I'm gonna a first time buyer. what are some general guidelines I would need to know before moving?
Hi Tito,
I'm a local Oak Park/Berwyn agent and I understand the market very well. The first step to buying a house is to get pre-approved for your mortgage -- I've got a few ... more
0 votes Share Flag Tue Mar 27, 2012 Home Buying in Berwyn
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
I have responded to many of the realtors asking to be contacted about homes I've seen on Trulia, not once has anyone contacted me. Why is this?
I am just the opposite. I get messages that someone wants info on a house. I send it and never hear back anything at all. It happens.
0 votes Share Flag Sun Feb 12, 2012 Home Buying in 60402
Raven Guzik, Real Estate Pro in Oak Park, IL
Raven Guzik answered:
if you live in Berwyn and sell and buy different house do still have to pay for stamps?
In the Town of Berwyn each transaction is subject to transfer stamps. They are customarily paid by the sell at closing. If you are purchasing a property than more than likely the seller ... more
0 votes Share Flag Fri Nov 18, 2011 Home Buying in Berwyn
** Jeremy Gr…, Real Estate Pro in 07748
** Jeremy Gryvatz ** answered:
Need advice to buy rental properties in Berwyn
Hi Bsong. I can connect with a top foreclosure broker in Berwyn/Chicago. He can explains all the differences and go into detail about the compliance violation rules. Email me at jeremy@ ... more
0 votes Share Flag Wed Mar 2, 2011 Home Buying in Berwyn
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
a listed home has been on market for a while price is good and pictures of inside look good price good too why hasn't it sold?
Bubbles,

Some of the common detractors that interfere with what appears to be a great opportunity on paper are: taxes, HOA and other fees, neighborhood, community guidelines, proximi ... more
0 votes Share Flag Tue Mar 8, 2011 Home Buying in Berwyn
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
closeing costs and cash to close are two separate things?
Actually the cash to close will incorporate your closing costs. The cash to close will also include any down payment that you were required say 3.5% for fha or 5% for conventional and s ... more
0 votes Share Flag Sat Feb 23, 2013 Home Buying in 60402
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
18,000 saved want to sell present home to buy less expensive home is this enough ?for 3% down and all fees?
It depends on the sales price. Your first step should be to meet with a local and trusted loan offcier, be careful of giving out financials over the internet or email. They can prequail ... more
0 votes Share Flag Mon Jan 10, 2011 Home Buying in Berwyn
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
how much are banks willing to go down on a house? people always want to negotiate the price?
If a bank is selling a house they foreclosed (known as an REO or foreclosed house) they might come off their listed price by a little. In my area I can look at bank owned homes and I se ... more
0 votes Share Flag Wed Oct 19, 2011 Home Buying in Berwyn
Jack Flash, Real Estate Pro in Mount Prospect, IL
Jack Flash answered:
did 2414 scoville sell in berwyn il?
There is no recent listing for 2414 Scoville in Berwyn. There is a pending sale for 2413 that went under contract on 11/24 with an asking price of $160,000.
0 votes Share Flag Tue Dec 7, 2010 Home Buying in Berwyn
Peter Kedzior, Real Estate Pro in Arlington Heights, IL
Peter Kedzior answered:
Is it a good idea to try to sell a home at this time? trying to find something less expensive to have lower payment and shorter loan amt.
In this market, the very best idea is to sell your current property before finding one to move to. As you know, selling your home at the price you can live with could be a challenge giv ... more
0 votes Share Flag Tue Nov 30, 2010 Home Buying in Berwyn
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