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Home Buying in 06450 : Real Estate Advice

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  • Home Buying7
  • Home Selling2
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Activity 7
Fri Nov 18, 2016
Jennrob.defosses asked:
We put an offer in on August 10th, and we were told the seller accepted our offer on August 15th. Since then, we have been waiting on the bank to approve our offer. On October 27th, we…
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Thu Dec 17, 2015
Dan Tabit answered:
Rose,
FHA is the most flexible for people with credit issues, but define "bad credit". Some lenders can take that program to a mid score as low as 580, but not all.
Here's my question for you, why is your credit bad and what are you doing to change it? If you can buy, are you sure you'll have what it takes to keep the home and not end up like so many people before the crash?
If your bad credit is due to a one time event and you always had good credit before and you are on your way back to good credit, you might be okay. If you've struggled for a long time with credit issues, please address this first. Get on a firm solid foundation before you take on the biggest debt of your life. Get on a budget, get out of debt, pay all your bills on time or early, save up a down payment and have money left over for emergencies. You'll not only become a home owner, but be able to stay a home owner for the long term. Best of luck!
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Wed Sep 17, 2014
Bill Eckler answered:
Jessica,

It would ne helpful to know more of the specifics of this property. This is why, directing this question to your agent would be more beneficial than this forum.

You may be right about this effort being a waste of time but things aren't always as they appear. I like the approach of having your agent being in contact with the listing agent and making them aware of your interest should things not work out with the present offer.

In this way you have invested nothing more than an email or phone call and you may have your foot in the door. Plus, you have no commitment and may continue to seek other opportunities.

Discuss your options with your agent!

Bill
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Thu Sep 26, 2013
Silvana Fino answered:
I think Ron hit it on the head. The motivation letter brings a human quality to a financial transaction.

One of my buyer's was asked why she was buying another property when she owned and occupied another residence a few cities away. She started talking about how she grew up in the community as a child and always loved that home. The family that lived there were kind to her as a child and their daughter was her best friend. More than 15 years ago the family lost the home to probate when her best friend from childhood died from cancer. She described how much she always loved the backyard and the large tree with the swing, that remains to this day. She wants her grandchildren to know the feeling she had at her best friend's home as a child. Then she spoke of how in a few years she will retire and wanted to live there for the next 30 years and pass it onto her daughter, etc.

And within 30 days the home was hers.
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Sun Jun 24, 2012
Peter D. Plourde answered:
you need a lawyer go to www.peterplourde.legalshield.com it is well worth it.
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