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21740 : Real Estate Advice

  • All28
  • Local Info3
  • Home Buying11
  • Home Selling3
  • Market Conditions2

Activity 22
Wed Nov 22, 2017
Cynthia Sullivan asked:
I am the office admin at Sullivan Select real estate in Hagerstown, MD. Trying to figure out if our commercial listings will be picked up and included on Trulia?
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Thu Mar 16, 2017
answered:
Hello, I'm a mortgage professional.

Yes, there are programs that require as little 3% down payment, you can even roll some closing costs into the loan.

If you would like help with this or have any questions you are welcome to get in touch with me. ... more
0 votes 1 answer Share Flag
Thu Oct 13, 2016
Nancy Eddington asked:
Thu Apr 14, 2016
Dkellfam asked:
At the time of purchase our credit was bad and we could not get approved. We would like to know have it transferred to our names but don't know how.
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Tue Dec 1, 2015
answered:
Mortgages are based on the lower of the sale price or appraised value. The asking price has nothing to do with the mortgage.
You can offer more than the asking price, as long as the property will appraise. Build in Seller Contribution to be applied to your closing cost. On FHA and USDA loans you can get up to 6% of the sales price applied towards your closing cost. In most instances, you can get in for little or no money. These are legitimate mortgage programs , designed for low to moderate income families.
Add 4% to the Asking price and ask for 6% Seller Contribution. Be careful not to ask for too much, because you can only apply real cost , don't leave money on the table. A good Lender can calculate how much money you will need to get from the Seller. gmakrides@ihmcloans.com
... more
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Mon Mar 2, 2015
Madelyn Periard answered:
How much is lot rent? Could this be a no money down? I have fallen in love, but have no money. How much is closing cost?
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Tue Feb 10, 2015
Barbara Stellway answered:
Lenders usually ask for the well test results based on the tests the buyer asked for in the contract. In my experience, once the well test results are produced and are within the potability ranges for that specific test, I do not see how or why a lender would decline a loan on the basis of the water test. If you send the lender a bad test, that is a mistake. The seller has to correct a bad water test with appropriate treatment, depending on what the problem is, and produce a clear re-test. Once problems with the well have been corrected, the tests should then be sent to the lender. ... more
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Mon Oct 13, 2014
Joseph Luht answered:
There are townhouses and small single family homes you could get for that price. If I were you I would look up to $120k because after negotiating you might get them down to $110k.
0 votes 5 answers Share Flag
Sun Oct 12, 2014
Ben Thompson answered:
Chi:

It depends on what your definition of "best" is. Some people love maintenance-free condominium style living. Others prefer privacy and some acreage.

Hagerstown has a number of really nice places to live. My suggestion is to either perform a simple internet search, or contact an agent who may assist you in finding a location best for you.

Sincerely,

Ben
(301) 331-9530
... more
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Fri Dec 27, 2013
Jeanine McVicker answered:
These questions are best answered by talking to the local police department or the Washington County Sheriff's Department. They can offer you with statistics as to the crimes in the area, and give you insight. ... more
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Wed Dec 18, 2013
Jeanine McVicker answered:
One of the GREAT things about living in the Hagerstown City Limits right now are the programs available to home buyers through the Hagerstown Home Store. Not only do they offer you education, but they also offer grants, sometimes up to $11,000 to put toward down payment or closing costs. These programs are very helpful for first time homebuyers! ... more
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Fri Sep 13, 2013
Greg Myers answered:
Jeff,

This question is a little dated so I am not sure if you proceeded forward with your purchase. Your sales contract would have to contain the language " purchase subject to the existing lease"".

Some lenders may have a underwriting issue with a existing lease or tenant occupancy beyond 90 days. Here's WHY. Your home purchase is an "Öwner Occupant" using lending guidelines as an owner occupant. What if you renewed the tenant's lease and never moved in..now your an investor.

Check with your lender for specifics or delay the settlement date to with-in 90 days of the end term of the lease.

Greg Myers
RE/MAX Realty Grouup
... more
0 votes 4 answers Share Flag
Fri Sep 21, 2012
Kari Shank answered:
Hi Paul-If you would like to keep you current home I would suggest looking into any modification options that may be available through your mortgage company. If you don't plan on keeping home or if the modification options do not work out for you I think that a short sale may be best for your situation. You want to make sure that you find an agent that is very experienced in short sales and one that will guide you through the entire process-this will be very important to make this process as easy as possible and also give you the best chance for a successful short sale. If you have any further questions on your options please let me know! Best of luck to you! ... more
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Tue Jul 24, 2012
The Roskelly Team answered:
Based on the small amount of information provided I would say yes. An entire additional level of living for only $8,000 seems very reasonable.
0 votes 5 answers Share Flag
Mon Aug 23, 2010
Mary Matthews answered:
Contact a Realtor who will work for you as a buyer's agent. The Realtor can do a market analysis on the property for you . That particular property is unique. At one time that was a wonderful home with lots of interesting features. Over the years a lot of those features have been destroyed. ... more
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Fri Jul 23, 2010
Pelin Guzel answered:
Mary,

It depends on the office, there are a lot of different KW offices, you should check it out more than one in your area.
Good Luck
Pelin
http://www.dallashomelist.com/frisco-homes.html ... more
0 votes 3 answers Share Flag
Mon Jul 20, 2009
Michael Draper answered:
The Listing Agent is advertising this home as a short sale fully approved. This would imply that the agent has already spoken with the lender and taken necessary steps prior to listing the property. However, it is ultimately up to the 3rd Party (the lender) to approve the final sale price once an offer is submitted. Here in our office we recently wrote an offer on a similiar home in this neighborhood that was also a short sale. The sale was approved by the lender for a very similiar price as shown on the home you inquired about. This villa is alot of home for the dollars. One word of caution, the tax bill will be higher as it reflects a much higher original assessed value and original sale price. You may have success getting the taxes lowered by filing an appeal based on the new appraised value and official settlement sheet after a purchase is made. I would welcome the opportunity to assist you with any additional questions or arrange for you to see this home at your convenience. ... more
0 votes 2 answers Share Flag
Sun Jun 28, 2009
Ania Miller answered:
Could you please share with me a bit more information? You posed this question with nothing to go on.
Is your home currently on the market for sale?
Ania
AniaMiller@kw.com
0 votes 1 answer Share Flag
Thu May 14, 2009
Dean L. Martin answered:
A lot would depend on how much you fixed it up. If it's the forclosure one that started at $99,900 it was on the market 92 days before it went under contract. Also what is the neignborhood like? One problem sellers have been having is they find a buyer willing to pay their price and then the house will not appraise. You would have to justify to an appraiser why your house went up in value in 8 months time in a declining market. I am licensed in MD & PA and would be happy to assist you, but sounds like it's going to be a tough one. ... more
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