Home Buying—questions & answers, advice and opinions page 1099

Is buying a home with expectations of future values to increase is a the only purpose and incentive in home ownership?
Much of the problems facing in the housing industry was created by the expectation of the continuous rise in property values. Once values failed to increase as rapidly and suddenly went the other way most…
I SIGNED A CONTRACT LAST AUGUST ON A NEW CONSTRUCTION CONDO. WE WERE GIVEN A MOVE IN TIME AROUND NOVEMBER. IT IS NOW MARCH 22 AND NO CLOSING DATE.
WE WANT OUT OF THIS PROJECT. EVERYDAY THEY GIVE US ANOTHER EXCUSE AS TO WHY WE CAN'T CLOSE YET. WHAT ARE MY LEGAL RIGHTS WITHOUT LOSING OUR DOWNPAYMENT
Hello All: Recently we saw a expanded split level house and in the basement the old portion was separated with new one by a wall.No opening.
Owner insists it can be done easily. Instead he provided a separate stair case from living room into the basement new room which leads into a new car garage. No connection between 2 rooms. My concern…
On an earlier question I was advised that price per sft has no meaning at all. The price of the house is based on comparable sales in the area. Based
On that , I saw a house on northern part of the town newly built huge house asking price at $160 sft where as in the same area older homes 1960 ish asking amost 200/sft. what is the logic involved. As…
I am trying to understand your estimated payments. My figures are always 30% lower than yours.
E.g. for the condo at Caminito Campana they are 1757/mo. For the house in questionI estimated : Mortgage = $1000, PT=278, HOinsurance= 50. Total= $1328. You estimate $1757. I do not see HOA fees or Mello…
follow up question: how picky is Calvet as far as credit scores? I am around 703 but have a 'smear' due to missed mortgage payments
due to my short sale I was unable to afford the payments (messy divorce) so I missed about six payments. But again; my score is still around 680-703 according the my most recent (last month) credit report.…
How do mortgages differ from rental properties and owner-occupied?
My wife and I currently live in New York but will be moving home to San Diego in 2-3 years. We want to purchase something soon now that prices/rates are down but we don't know the details of owning…
Can I ask for a delayed COE of one year, when doing a short sale?
Hi I am the buyer of an short sale. Can I ask for a COE that layes one year in the future? For short sales take a long time anyways, so would there be a problem to ask for it up front? Would that be attractive…
Contract states close of escrow plus 3 days. What happens if seller does not move out on time? Can lender/escrow hold fees until they move out?
Does escrow close after they move out? How do I set the per diem rate? What if seller doesn't agree to sign any agreement and escrow has already closed?
Bank is requiring me to liqudate my CD acct in order to fund the loan. I used this acct as proof of funds. Can I use funds from another source?
This is a conventional loan. Since I am going with the same bank, they have access to my account. The fee is pretty hefty.
Own a condo that is 10k under, want to buy a home, Condo is FHA and only way to afford a nice home is with another FHA are there any other options?
Condo is in California and is worth 144k. The house we are looking at is 350k due to the restrictions of a conventional loan renting the condo will only allow us to purchase a 250k home. I have been looking…
I am looking at the Lennar development for Woods at Quail Creek. Does anyone know the area well? Why is it one of the communities going down in value?
There are some new construction prices that are good. I am wondering about the land around the community, the community itself and trying to decide if it is a decent investment on the downturn or if there…
What is happening now?
Another scenario that happened yesterday to me. We bid on an REO house, they counteroffered a higher bid. We accepted it. D nxt day they send us 'best offer" paper and accepted our bid and citi…
Is there any way we can buy a home with a low credit score and 8,000 in debt in Paulding Co. Ga?
My fiance and I had an apartment and a car two years ago. He lost his job as an iron worker due to lack of work causing us to lost our apartment and car. He has not opened any new accounts in a year and…
For investment purposes what part of 33133 would you recommend as the safest, clean and desirable area?, 1. Is it more profitable to buy a) a?
2-bedroom apt or b)a 1-bedroom apt (relation purchase price/rental income). 2. How much could I expect to receive in rent? 3. What are the charges an owner has to cover?
Chances good at getting this house?
There was a house that was on the market 3 times this year, failed to sell due to nobody offering or low balls the first time, second time it went down after a day and now its been up for a week. This…
I'm looking to buy a home on the Big Island. Is it true you have to pay sales tax on the property if you're not already a resident of?
Hawaii? This home will be my permanent resicence so it's not for rental or investment purposes. I now live on the mainland although was a resident of Oahu for 4 years.
Our credit scores are good (750 ish) and our home up north is paid off. What do I need to get approved to buy a second/vacation home in Tampa?
I'm looking to buy a house around $135k, which is about what my home up north is worth. I only have 5% or so down. If that is enough, should I go thru a lender/broker up here, down there, or does…
I'm a cash buyer looking for 3-4 bedroom block homes under 65k in these areas: Brandon, Valrico, Seffner, Carrolwood, Citrus Park. Can anyone?
help me? This is not a joke. I'm a real cash buyer with high demand for properties like these. Properties in these areas with these prices will be few and far between, but if you bring them to me…
Escrow/mostly cash purchase
Let's say purchase price of house is $400k and I want to put down $300K and get a $100K mortgage. I can afford to pay all cash but prefer not to. Can offer be written this way: Buyer will pay $300K…
Hello, My name is Kevin, my family and I are interested in purchasing a home in the 90815,90808 or 90814 area codes.
Our budget is anything from the low 100's up to around 300 and possibly up to 350 ( depending on property and location). We are looking for a minimum of 3 bedrooms and a home that is preferably not…
Short sales-California
I would like to have the details on purchasing a short sale, one bank, in CA. As I understand it: 1) Offer is accepted by owner 2) Offer/Price is submitted to bank for OK 3) Once bank OKs price, inspections,…
Does placing title to your CA home in a trust protect the property from.......?
One of my clients is a firemen. He takes parts in controlled burns and other activities that open him up to liability. He was advised by another fire captain to set up a trust with his soon to be wife…
is it ok for the agent of a buyer who does not represent the seller to tell another agent what his clients offered on a property after his clients?
withdrew there offer due to home inspections is it ok for the agent of a buyer who does not represent the seller to tell another agent what his clients offered on a property after his clients withdrew…
I am 85% complete on my construction loan. I will be unemployed in 3 months. Will i get a permanent loan? What will happen at this point?
I am finishing a 2 year contract job in about 3 months. At this time i will be unemployed for 4 months, or employed making about $40k a year or about 1/4 of what i am making now. We started building the…
Why wd a fixer upper be assessed for $185,752 more than ones w/same sq ft, same street, same year, w/nothing else special about it?
This house is in a cookie cutter development - not a "model home" at all but a fixer-upper. $323,248 was the average assessment for 2-bedroom houses on this street in 2009 (latest assessment…
URGENT: Seller wants to give 48 hr notice to perform if we don't remove appraisal and loan contingency. Help!
Hi Everyone, My realtor filed for a 2 week contingency extension period couple days back( our 17 day contingency period expired last Monday). Now the seller agent comes back and is saying if the appraisal…
What is an appropriate upgrade allowance to ask for?
This thread seems to be the closest thing I can find pertaining to my question so hopefully someone on here can help me answer it. My husband and I are looking at buying a home in a new 10 lot gated…
Class size in Austin
We are looking for moving to Austin area for its highly rated school. With all the recent budget cuts, we are wondering what is the average class size this year. Had the class size increased in the past…
Our loan contingency of 17 days will end on Dec 3rd. I'm concerned that v may not get the loan approval by then as we are hit by a long weekend.
Help? Here are the details, Our offer on a condo was accepted on Nov 17th(we were pre-approved already). There were no other offers on the property(owned by an investment company) was on the market…
buyer's agent doesn't cancel contract after having the signed T & R Form.... How do i get my earnest money back????
I was under contract to purchase a house, however after the inspection and during the due diligence period i canceled the contract to purchase the home. The seller's agent says the due diligence period…
How can I purchase an investment property without putting 20% down.?
I was told you have to purchase a vacation home 50 miles from your current residence to be considered a first time homebuyer.
Why is the home/address that I am under contract to purchase listed as for sale? Is this standard procedure?
approved, earnest money given, picked colors, change order submitted. just waiting for home to be built. Should i be concerned?
just got out of the military,now starting a new job and have to relocate. can i buy a home now or do i need more tiime at my new jo?
was unemployed for about 10 months, going to college before i recently got this job opportunity.
As a co borrower on a mortgage (for example helping a friend out b/c my credit is stronger) Am I able to drop off the loan after 3 months?
A friend of mine needs my help to get a mortgage, I just want to find out how this can affect my credit and if I can drop off the loan after 3 months without it affecting my credit negatively? Also, Im…
Unfortunately, my wife lost her job, our house is going to foreclosure. Can we get a new mortgage loan if we have 70% for downpayment?
We couldn't make payments on my income alone.We tried a short sale-no buyers. I know most banks won't want to give us a loan anytime soon. What if we have a downpayment of 70%?? Coming from…
Can I walk away if I am not satisfied with the home inspection report?
I am buying a foreclosure and my offer was just accepted. I have 10 days to do the inspection and I am getting nervous already. The house does need work but I am not sure the home inspector is going to…
Opting for higher interest instead of mortgage insurance?
I applied for a FHA 30 year fixed interest loan with Quicken Loans. My interest rate is 4%. I'm only putting down 8%. After down payment, the total amount owed is 80,800. Tax, and insurance is also…
Va loan with non purchasing spouse.
My wife cosigned on her parents loan before we were married. They pay the loan and the only tie she has to it is being on the loan so they could get approved. Since her debt is counted against me with…
Is interior foundation crack a big 'red flag'?
I offered on a home that had a decent floor plan and got accepted. When I previewed the property, few tiles in the middle of living room was cracked and one was popped. I removed the carpet in the next…
will an unlawful detainer help in getting rid of a tenant who is living in the home you are buying by a short sale . he has been given a30day eviction
our realtor is telling us that once he is given an unlawful detainer that he will have ten days before the sherrif comes and locks him out . is this true? what can i do as the buyer in this case. the process…
My next assignment is MacDill AFB and I am looking for a nice location that is a short dirve (20-30 minutes)
and in a good area. I am single with no kids so I either looking for a decent condo/townhouse or a starter home. I am leaning more towards a townhouse or condo though. Is there any places in Tampa…
What is an owner's affidavit?
We just bought an foreclosed home from the bank. Our Fund Commitmet Form (ALTA Owner's Policy) has an article which says: "Standard exceptions 2 through 5 will be deleted from the policy to be issued…
Do you think that web sites like Trulia are simply wasting peoples (buyer and Realtor) time by not sub labeling their properties search browser.?
So this is something that I have encountered in both Trulia and Zillow. Do you agree or disagree that if a property is a short sale, active with contract, or has a pending contract status, do you think…
self employed: is home affordability base on my 2010 tax return or 2009 and 2010?
I was under the assumption that the reason lenders ask for 2 years tax return was to take the 2 years and combined them to calculate how much home you can afford. is this correct. in 2009 my income was…
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