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Home Buying in Riverside : Real Estate Advice

  • All551
  • Local Info24
  • Home Buying195
  • Home Selling25
  • Market Conditions15

Activity 243
Wed Aug 23, 2017
Nancy Tauber answered:
You greedy people don't care about the question or answer it. You are trying trying make a sale. Shame on you
0 votes 13 answers Share Flag
Wed Aug 16, 2017
answered:
Hello Chris, it most likely means "short pay" which is same as "short sale". These types of transactions are risky depending on the bank and can take longer to close as well as price goes up.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You may qualify FHA 3.5% down from a minimum 580 fico score and from 3% down conventional from a minimum 620 fico score.

Do you have down payment and closing costs or do you need down payment and closing cost assistance programs? You would need a minimum 640 fico score to consider down payment and closing cost assistance programs.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve and you can be emailed listings to fit your search criteria.

The purchase in Riverside start from 119k for 1bd 1ba condo, from 145k for 2bd 2ba condo, from 224k for 3bd 2ba condo and the single family homes start from 195k for 2bd 1ba home.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Wed Jul 5, 2017
Rich Reed answered:
HI, Sean, you said you're already working with a Realtor. Your Realtor should be able to answer all of your questions about short sale transactions. If your Realtor doesn't have the answers you need, talk to your broker.
C.A.R. provides Realtors with information to share with their clients about short sales including a "SHORT SALE INFORMATION AND ADVISORY." Did your Realtor give you a copy along with your Purchase agreement?
... more
0 votes 1 answer Share Flag
Thu Jun 1, 2017
Vanessa Coursey answered:
You can contact a company like Tiger Prop who will negotiate a commission rebate for you in virtually any location in the country. The percentage they can negotiate will vary depending upon price point and location. Either way, some money is better than none. I work at Tiger Prop and would be happy to help you negotiate a credit or rebate. Max@tigerprop.com cell 208-841-5362 ... more
0 votes 17 answers Share Flag
Fri Mar 17, 2017
Jesu49 answered:
Get a home inspection. I repeat, get a home inspection. You will need a down payment @ 10-20% unless you can apply for a program that allows 5%. You will pay for the home inspection, termite inspection, and appraisal. You will have to have money to put into escrow, taxes and at least one month mortgage payment. If there are problems with the house, ask the seller to fix them so that you won't have to. Don't be shy about that. Never fall in love with the first house you see, nor over in love with the one you want to purchase. Always be prepared in case the deal falls through to walk away and find another house. Trust your realtor on the value of the house. If you offer to low, you may not get it and you start your search over. Get pre-approved for your loan. Work with an experienced realtor, but not one that won't care about your process. They must have time for you. Ask around for the best realtor in your area. Understand that closing is a monster. Anything can happen and it can be delayed more than once. Be prepared to come up with more money at closing if the title company screws up your out of pocket payment for escrow or other things. It happens sometimes, well, often actually. I hope these suggestions help. Best wishes in finding your first home. ... more
7 votes 21 answers Share Flag
Mon Feb 6, 2017
Gregory M Chase asked:
https://www.trulia.com/property/3258994946-8024-Wendover-Dr-Riverside-CA-92509?ecampaign=e&eurl=www.trulia.com/property/3258994946-8024-Wendover-Dr-Riverside-CA-92509&alat=13bc7…
0 votes 0 Answers Share Flag
Mon Jan 23, 2017
answered:
A buyer may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 3 answers Share Flag
Sat Nov 19, 2016
answered:
You have 12 months to discover items. The question is how bad is it? You will have to sue them to get them to pay for it, If it is less than say $500 to fix it, I would fix it myself personally.
If you have a crawl space and there is extensive water damage, a termite company may or may not be liable. As a realtor, more than once I just paid for a repairman to come out and fix things like this. So bring it up to your realtor, find out how much it might cost to fix it.
... more
0 votes 2 answers Share Flag
Tue Oct 4, 2016
Rich Reed answered:
That's a great question to ask your Realtor! Nobody can assure you that you will get your EMD back, but if you exercise your cancellation rights in good faith you may be entitled to the return of your EMD. Your Realtor and/or your Broker should be able to give you more information. You may need to get help from an attorney, too. ... more
0 votes 1 answer Share Flag
Mon Oct 3, 2016
Valli Lopez answered:
I am sure this isn't easy but I do have loans for manufactured homes with additions. If you send me the address I can figure out how I can help you and if I can't, I know who can.


Email me the address and we can go from there. I respond right away.

Valli Lopez
NMLS 980530
619-916-9595
Valli@vallilopez.com
... more
0 votes 1 answer Share Flag
Tue May 10, 2016
answered:
Hello Yolanda, it depends on what you mean by good credit. It will also depend on if it is in a park with space rent or on it's own land and or on a foundation and the year built is very important.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 5 answers Share Flag
Tue May 10, 2016
answered:
Hello Yolanda, yes there are programs like the 3%-5% Sapphire Grant down payment assistance program where you can purchase with minimum out of pocket expenses. You will need a minimum 620 fico score to qualify.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. The CHDAP down payment assistance program is another option.

You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 7 answers Share Flag
Thu May 5, 2016
Rich Reed answered:
To those without CA real estate licenses, but answered anyway, thank you for trying to help.
In CA, a counter offer constitutes another offer. Once an offer has been countered, you can't go back and accept the original offer or a previous counter offer. If a Buyer writes an offer and Seller writes a counter offer and then Buyer writes a counter (counter) offer and sends it to the Seller, the Seller's previous counter offer cannot be re-activated because it has legally been terminated. (See Beverly Way Associates v. Barham, 226 Cal. App. 3d 49, (1990).)
So, the Seller was right, your counter offer voided their previous counter offer.
Aren't you working with a Realtor? Doesn't your Realtor know this?
... more
0 votes 4 answers Share Flag
Fri Apr 29, 2016
answered:
I would say not to cosign, if you can. It does not work out for a number of reasons.

I do creative financing, have her give me a call.

714-968-2500


Lic 287206 Equal housing lender puedo hablar un poco ... more
0 votes 3 answers Share Flag
Fri Apr 22, 2016
Justin Conde Sr. asked:
credited to the escrow account. Ok here's the issue.
A week from closing. Final loan docs are signed. Seller has a 30 day rent with a fixed per diem rate; That's already credited…
0 votes 0 Answers Share Flag
Tue Mar 22, 2016
Alysse Musgrave answered:
High credit scores are a competitive advantage in a strong seller's market. Maybe that's what she's thinking. What did she say when you questioned her about it?

Don't Let Them Make a Monkey Out of You! Follow the links below.


Alysse Musgrave
Consumer Advocate
Exclusive Buyer Agent

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
... more
0 votes 2 answers Share Flag
Fri Mar 18, 2016
Frankieint asked:
If the seller is helping with 2 percent,how much is left for me for the closing?
0 votes 0 Answers Share Flag
Wed Feb 10, 2016
Scott Godzyk answered:
When a home enters the foreclosure process most likely it can not be purchased until the foreclosure is final because the seller may owe more than the home is worth and or there is not enough time to complete a short sale ... more
0 votes 9 answers Share Flag
Wed Feb 3, 2016
Derek Jones answered:
Just so I'm clear on your situation, you want the buyers DU approval? Does your agent have that? Did they receive it as part of the buyers offer?
0 votes 2 answers Share Flag
Sun Jul 26, 2015
Stefan answered:
Simply list it on Owners.com and then Trulia will pick it up, and they will pass it on to Zillow
0 votes 4 answers Share Flag
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