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Home Buying in 19018 : Real Estate Advice

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  • Local Info1
  • Home Buying16
  • Home Selling5
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Activity 13
Sun Dec 1, 2013
Joshua Stein answered:
What does your lease say? In most cases, the only thing that will change is who you make your rent checks out to.

However, if the new owner plans to live there, they may choose to invoke the escape clause (typically 30-60 days) that is built into the standard lease used in PA.

Joshua Stein, ABR®, e-Pro®
REALTOR®
Coldwell Banker Preferred – Conshohocken

Office: (610) 828-9558 * Cell: (215) 866-8030
Direct: (484) 270-1165 * Fax: (215) 999-5894
Email: jstein@cbpref.com
Web: www.joshuasteinhomes.com
Blog: http://jsteinhomes.wordpress.com/

PA License #RS317975
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Tue May 28, 2013
ataintedbrownie answered:
Can someone tell me why so many rentals say "sale pending?" Does it mean the person who rents the property is kicked out as soon as the sale goes through?
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Fri Dec 14, 2012
Sarah Goulart Nathe answered:
I have done that with a move from PA to MA. While we qualified to buy a new home before selling our current one, we wanted to sell first and ended up staying with friends for about a week in between closings and had the moving company (Bekins, who were wonderful) store our stuff on the truck for that week.

Talk to a realtor or a few and a financing person and find out what will work best for you and your family. We made a few trips up to the new state in the year before our move and made an offer contingent on the sale of our house before we put out home on the market.
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Wed Oct 10, 2012
Benny Smith answered:
From the buyers I have helped reestablish it seams that not being late after the BK is the most important thing. Then Time is the key here. Expect three to four years for any decent rates from the date it is discharged. I can recommend some good lenders if you are ready. Benny Smith 412-498-7868 ... more
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Tue Sep 11, 2012
Nick Deluca answered:
it depends on the agent. I get the answer in around 45 days from when I contact the bank. I just did one that was around 63 days from start to settlement. You do have an agreement and it is binding. Getting to settlement depends on the agent, the seller and you. If you don't have an agent or would like to ask me questions feel free to email me nickdelucarealtor@yahoo.com. I do a lot of them but don't go out and advertise it. I think some people just try to make money on someone's hard times. I like to help people. ... more
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Tue Sep 11, 2012
Nick Deluca answered:
It could help. Just because someone tells your credit is not good enough does not mean you can not buy a home. Email me nickdelucarealtor@yahoo.com and I will see if I can help you. I live right in Springfield and just sold a few homes in Secane. ... more
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Sun Mar 18, 2012
Claudia Muller answered:
Should you purchase a home that is a FNMA foreclosure, it should offer Home Path financing.
As primary residences, these properties are available with a minimum of 3% down payment and 3% credit from FNMA.
These properties are available as nonowner occupied homes, but a minimum of 10% down payment is required.
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Wed May 4, 2011
Nancy Celia asked:
cant figure out why it has been on market soooo long...started out at 179, now TREND sheet shows its 159K, not sure when price dropped....its a bigger lot and decent looking house and average…
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Tue Jan 4, 2011
James Ryan answered:
Hi Angie, you have received some good answers so far, the gist being the closing date is specified in the purchase contract, and without a mortgage issue (I am assuming your friend either is paying cash or has a mortgage approval, so no mortgage issues), your friend should be able to move in as the full owner the day of closing, or as a rental previous to the closing date when she becomes the lawful owner.

Perhaps I am reading more than is here, but your statement "now sale is pending" makes me think perhaps this is a short sale property. If it is a short sale property, you may be awaiting the third party approval from the original lender accepting the "short sale" offer your friend has made. If that is the case....you may be in for a much longer wait than is specified in the purchase contract.

I hope I am wrong, and you are helping your friend move in this week!
Jim, HSOA.
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Sat Jan 9, 2010
Chad Bahnsen answered:
Rafael, The first step is to get pre approved with a lender that you trust. The loan officer will analyze your verifiable income, credit, assets, etc and give you a max pre approval amount. You will then want to compare this with your comfortable monthly payment. You will then want to find a knowledgeable and experience realtor. I'm a mortgage banker. I'd be happy to assist you. The process doesn't take very long. Happy New Year! Chad Bahnsen cbahnsen@mortgage network.com 610 622 2212 ... more
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Tue Jun 2, 2009
Heather Moriah Martin answered:
Hello Julia!

Yes, Actually before you made your offer....the Buyer Agent should call the listing agent and ask them if there are any other offers being presented at this time? Has there been any serious interest from other buyers? This way you will have a clue on how to make an offer on the property...your highest and best at first, if there are other offers already submitted or MAYBE if there is no other interest you make a lower offer and see if you can get the property at a better deal. The home will not change status in the MLS to Pending or Available with Contingency unless the seller has signed and accepted an offer from a Buyer.

I hope this information has helped you.
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Wed Apr 29, 2009
Ron Woytowich answered:
Karl
I also do a lot of Bank Owned properties and Short Sales. 'i work with several banks, one bank I deal with gives me an answer in 3-6 hours typically, or overnight. That is not typical. It depends on a lot of factors, such as how many mortgages there are and is there mortgage insurance. The majority of the banks are overwhelmed and along with the short sales, the person that handles the short sales may also be working with borrowers of other mortgages on their loan modifications as well. When I call the response I usually get is that the person at the other end fo the phone is handling upwards of 200 files a day. The main thing to do is make sure you have an agent that works closely with the bank as sometimes the squeaky wheel will get greased faster if possible. If the bank has investors involved as well on the note, they have to approve it also.
Some new models are in place now with a few of the short sales, where they are already prenegotiated on the back end and while not able to give an instant answer, they have a point go to person, and it makes the transition smoother. Many lenders have opened "call centers" just for the purpose of doing short sales.

Regards,
Ron Woytowich
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