Home Buying in Memphis : Questions & Answers

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Neal Masters, Real Estate Pro in 38004
Neal Masters answered:
Where can I find listings for dupleses for sale?
I WOULD BE GLAD TO SEND YOU DUPLEXES THAT ARE AVAILABLE. DO YOU HAVE A CERTAIN AREA THAT YOU ARE INTERESTED IN. I WOULD NEED YOU TO CALL ME. NEAL MASTERS 901-634-7476. there IS A SECTIO ... more
0 votes Share Flag Tue Apr 2, 2013 Home Buying in 38104
Suzanne MacD…, Real Estate Pro in 07856
Suzanne MacDowell answered:
We accepted verbal counter offer from bank on property on 3/14(Thu). Realtor expected written contract the following Fri/Mon. No word since. Normal?
I don't know if it's normal, but it's not unusual. I had a similar situation this spring. Once the verbal counter offer was accepted we had to update all the documents, including the ... more
0 votes Share Flag Wed May 1, 2013 Home Buying in 38135
Mitanni Spru…, Real Estate Pro in Memphis, TN
Mitanni Spruill answered:
How is the real estate and the rental market in Memphis ,TN.?
The real estate market is definitely on an upswing and the rental market is thriving. Please contactvme for more info.
0 votes Share Flag Tue Apr 16, 2013 Home Buying in 38119
Laron A Jones, Real Estate Pro in Memphis, TN
Laron A Jones answered:
What is the current replacement cost (average) for the Memphis market? In regards to construction replacement cost per square foot of a home.
That's a very broad question but I would guess around 4 dollars.
0 votes Share Flag Wed Mar 20, 2013 Home Buying in Memphis
James and Ke…, Real Estate Pro in Memphis, TN
James and Kenisha Martin answered:
I'm a 26 yr with a credit score of around 700 and a little over $17,000 in savings. I make about $32,000 a year. What can I afford?
Have you talked to a loan officer? I would talk to a loan officer at the place where you bank at first.
0 votes Share Flag Thu Nov 21, 2013 Home Buying in 38103
Danny Freeman, Real Estate Pro in Memphis, TN
Danny Freeman answered:
Are ther any down payment assistant programs available in memphis tn currently?
Several depending on where you are buying. Call me at 406-3224 and we can discuss areas.
0 votes Share Flag Mon Sep 23, 2013 Home Buying in Memphis
Mark Stauffer, Real Estate Pro in Collierville, TN
Mark Stauffer answered:
can i buy a house under chapter 7?
I will punt to the mortgage professionals, but last I knew on a chapter 7 bankruptcy -you can get a FHA loan after 2 years (if your credit has been re-established). I believe it is 2 y ... more
0 votes Share Flag Sat Mar 8, 2014 Home Buying in Memphis
Maggie Armst…, Real Estate Pro in Memphis, TN
Maggie Armstrong answered:
Hi, I'm looking at a house in the Depot Planning District, area code 38104. Does anyone know if that's a good neighborhood or not?
Hey Peachez, 38104 is considered Mid Town and typically holds it value very well! Most people that live there absolutely love it! Wonderful things are happening in that area and I wou ... more
0 votes Share Flag Mon Mar 4, 2013 Home Buying in Depot Planning District
Bob Brown, Real Estate Pro in Memphis, TN
Bob Brown answered:
Can I buy a house with a 577 credit score?
Yes. Visit my website http://buyselltnhomes.com and click on the Partners/View All Partners right side. Contact Jeff at RH Lending - he told me he could go 580. Where is McEwen Tenne ... more
0 votes Share Flag Tue Jan 22, 2013 Home Buying in Memphis
Jo Shaner, Real Estate Pro in Memphis, TN
Jo Shaner answered:
Hi, I'm a Canadian buying single home family in Memphis, TN. I'm now looking for financing. Any options?
Hi Fred,

It's a process that cannot be easily addressed without a little more info from you. I have helped several Canadian families who have moved here in the past 3 years (can fu ... more
0 votes Share Flag Mon Jan 21, 2013 Home Buying in Memphis
Jason &…, Real Estate Pro in 38002
Jason & Laura Wallace answered:
I've been on my job almost 6 years and i am trying to reestablish my credit but had to file bankruptsy. ?
If you filed Chpt 7, you will have to wait 2 yrs from your discharge date and reestablish credit before you buy a home.

With a Chpt 13, you will have to reestablish credit and wait ... more
0 votes Share Flag Mon Jan 21, 2013 Home Buying in 38127
Douglas Conn…, Real Estate Pro in Memphis, TN
Douglas Conner answered:
Can anyone recommend a few good property management real estate companies (not turnkey companies) that could manage rental properties in Memphis?
Omni Properties is one of the largest and best property management companies in the Memphis area. They manage over 1,000 properties in Memphis, Nashville and NW Mississippi. Their web ... more
0 votes Share Flag Thu Feb 21, 2013 Home Buying in Memphis
Hamza Ibrahim, Real Estate Pro in 38139
Hamza Ibrahim answered:
Is the home at 3478 Dawnridge Drive a Foreclosed home?
Currently the property is a pre-foreclosure and a notice of sale has been submitted. Typically, once the notice of sale has been submitted it will be listed soon (typically within 30-60 ... more
0 votes Share Flag Sat Dec 8, 2012 Home Buying in Quince - Oakhaven-Parkway PD
Bob Brown, Real Estate Pro in Memphis, TN
Bob Brown answered:
I am purchasing a home in Tipton County with cash. It is a for sale by owner. What other costs will I have besides homeowners insurance?
Well you will have closing cost (approx 2% - 3% of sales price). Your closing attorney can provide the exact amount (Close-Trak is a good choice). A home warranty would be optional at ... more
0 votes Share Flag Tue Jan 22, 2013 Home Buying in Memphis
Todd Berry, Real Estate Pro in Memphis, TN
Todd Berry answered:
Interested in buying an investment property in the Memphis area. What are some good areas I should look at for appreciation and rental income?
Afternoon, fellow Texan! There are several great areas in Memphis. Feel free to give me a call anytime and we can figure out the best fit for you!

Todd Berry
Crye-Leike REALTORS
9 ... more
0 votes Share Flag Fri Mar 29, 2013 Home Buying in Memphis
Andrew Wilki…, Trulia Community Manager in San Francisco, CA
Andrew Wilkinson answered:
Where can I find some creative financing options? I have decent credit rating, but banks won't touch me due to judgements against me. Options?
Hi there Mmpizar,

This is a great question, but I think you might have a better chance of getting more answers if you reposted your question in our "Memphis, TN" section, which you c ... more
0 votes Share Flag Fri May 30, 2014 Home Buying in Frayser - Raleigh PD
Bryan Horn, Real Estate Pro in Pacific Beach, San D...
Bryan Horn answered:
How long will I have to wait to qualify for a home loan after a short sale and bankruptcy chapter 7 and chapter 13?
FHA loans require a 3 yr wait after short sales, 2 yr wait after Chap 7 and 1 yr wait after Chap 13.

Conventional loans (Fannie Mae) require 7 yr wait after short sales if you have l ... more
0 votes Share Flag Tue Feb 26, 2013 Home Buying in Memphis
Ray Gaudet, Real Estate Pro in Knoxville, TN
Ray Gaudet answered:
with interest rates so low, would you recommend locking in the interest rate or floating it. Currently quoted 3.75% in Memphis, TN.
I would float the rate. I think rates are safe until after the election.
Or contact a lender that will "lock" you and allow you to lower it once over the period of your lock term.
... more
0 votes Share Flag Wed Oct 24, 2012 Home Buying in Memphis
Maria Cipoll…, Real Estate Pro in Coral Springs, FL
Maria Cipollone answered:
Loan immediately after bankruptcy.
A bankrupcy will reflect on your credit report for the next 7 to 10 years, but it does not mean that you can not obtain a new mortgage a year later after the bankrupcy. It really depe ... more
0 votes Share Flag Sun Aug 25, 2013 Home Buying in Memphis
Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
Does Wells Fargo have the 15,000 first time homebuyer grant here in memphis??
You woul need to contact a Wells Fargo loan officer to find out about that.
0 votes Share Flag Mon Nov 11, 2013 Home Buying in Memphis
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