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20882 : Real Estate Advice

  • All6
  • Local Info0
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 6
Dmmartin27, Home Buyer in Gaithersburg, MD
Fri Feb 5, 2016
Dmmartin27 answered:
Our inspection addendum provides 14 days for inspection, copy of report & written statement of corrective action. 14 days expired. House was inspected but have not heard anything. It's now past the 14 days. Does this mean the purchaser has to except the house as is? What ramifications do I have as the Seller? ... more
0 votes 11 answers Share Flag
My NC Homes…, Real Estate Pro in Chapel Hill, NC
Fri Jun 19, 2015
My NC Homes Team answered:
You don't need to. Our standard contracts give a buyer a diligence period in which the buyer may terminate for any or no reason whatsoever. simply tell your agent you want out and want to terminate the contract. You'll lose your diligence fee and any money you may have spent with your lender or inspectors and that's it. Given that you haven't had any inspections done your penalty will be pretty slight. ... more
0 votes 1 answer Share Flag
Pcnot, Home Buyer in Greenwood, IN
Thu May 21, 2015
Pcnot answered:
Is there a law that says the seller has to let other people, such as the buyer and family members, into their home the day the inspector is there to work?
0 votes 10 answers Share Flag
Foresman Lee, Real Estate Pro in Sycamore, IL
Thu Jul 25, 2013
Foresman Lee answered:
If it directly impacts their ability to do a thorough inspection, inspectors will move items.
0 votes 10 answers Share Flag
Lender Line, Other/Just Looking in Newport Beach, CA
Tue Jan 3, 2012
Lender Line answered:
LENDERLINE is offering Stated Income Verified Assets (SIVA) loans at up to 80% loan-to-value in California only. Guidelines are as follows:

• Purchase, rate and term refinance, and cash-out refinance allowed.
• Single family residences, PUDs, condominiums, and 2-4 units allowed.
• Primary residence, second homes or investment properties allowed.
• U.S. citizens, permanent residents, and foreign nationals allowed.
• No prepayment penalty.
• Up to 80% LTV maximum. LTV is based on occupancy and loan amount.
• Up to $2,000,000 loan amount. Maximum loan amount is based on purpose of loan and occupancy.
• 700 minimum credit score for U.S. citizens and permanent residents.
• No credit scores are required for foreign nationals.
• No rental late payments during past 12 months.
• No mortgage late payments during past 24 months.
• No history of NOD, foreclosure, short sale, bankruptcy, or repossessions.
• No unpaid judgments, liens, or collections.
• Income stated on loan application must be reasonable for the position of employment.
• No tax returns, paycheck stubs, W-2, 1099 or 4506-T will be required.
• Self-employed or W2 allowed.
• No industry exclusions.
• Debt-to-income ratios cannot exceed 45%.
• Employment must be verifiable by a CPA or IRS enrolled agent (for self-employed) or verbal verification of employment (for W2) with no reference to income.
• 100% of the down payment may be gifted for primary residence.
• 6 months PITI reserves are required. Reserves must be seasoned for 2 months and come from borrower’s own funds.
• The SIVA loan program is available in every County in the State of California.

For more information contact:

LENDERLINE
5000 Birch Street, Suite 3000
Newport Beach, CA 92660
Toll-Free: (888) 661-7888
Website: www.lenderline.com
... more
0 votes 10 answers Share Flag
Gareth Owen, Both Buyer and Seller in 20905
Sun Apr 13, 2008
Gareth Owen answered:
I have been seeing a few FC in SIlver Spring area (20905) in Hampshire Greens, but in general see more in sub 800 range. There are websites that track this activity (for fee).
0 votes 2 answers Share Flag
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