80% of all "rent to own" deals are never consummated. But you are either paying higher rent or a non-refundable deposit or something which is costing you extra in the rent to own deal. Fix your credit, and wait until you can get a good mortgage rate with that fixed credit score. Meanwhile, cycles come and go, bubbles burst, and we may be near the top of one now. You won't regret doing things right.... more
First, were the garage and sunrooms additions to the original structure. You may want to contact the county to see if a permit is on file. If those are, in fact, unpermitted additions, the appraiser will not capture that square footage. You'd do well to have those areas inspected and get the work approved by the county.
Have you checked your own credit history to see if anything is being reported without your knowledge? If the issue is debt to income ratio, something may be reporting in error.
Before getting an attorney, review your contract. If they fail to complete the purchase altogether, the earnest money may be the maximum "liquidated damages" you may be entitled to.
Before accepting another extension for any reason, request something in exchange from the buyer. You get what you negotiate for. Just remember your alternative may be to go back on the market. If things have improved, it may make sense move on. If not, then it could be worth hanging tough with this buyer. It's up to you.... more
now, that you have your answer from the realtors and lenders; take a look at my home. It's currently on the market. 420 Silverthorne Point Lawrenceville, ga 30043. check it out at www.420SilverthornePoint.com. In addition, we can introduce you to some of our neighbors that are also from England and live in our subdivision.
Joseph Neely... more
I am not sure if you have a buyers agent but you may want to consider Redfin. Unlike Trulia and Zillow Redfin is an actual real estate agency serving the Lawrenceville area with local agents. PLUS it has a database of homes available that is updated multiple times from the multiple listing service rather than depending on people posting homes and updating their status.
Also Redfin helps with locating lenders, and the website provides everyone with a great home buying guide.
On Your Side
Only Redfin Agents are paid based on your satisfaction. We put your interests before a deal or a dollar, every time.
Smarter & Faster
You'll move quickly and confidently with our easy online tools and the most complete & accurate data.
You Get More
Get the right home for you while saving thousands in fees for a deal that works in your favor.
With Redfin, there's no pressure â€” take as long as you need.
97% of Customers Would Recommend Redfin Agents
We survey everyone who works with us so you know exactly how Redfin Agents have performed in your neighborhood. See for yourself by reading customer reviews of Redfin Agents â€” the good,
the bad, the ugly.... more
I am an Associate Broker, buyer agent and lives in Lawrenceville and know the area extremely well. Brookwood schools are also in Snellville. Feel free to call me at anytime so we can discuss further... more
Purchasing a home via short sale is not at all an easy process. A lot will depend on how experienced the Listing Agent is.
Short sales have so many ways in which they can go wrong. Many short sales simply never close after several weeks or months of work. This is a fact that every buyer needs to completely understand.
A lot of the reasons for the fallout depend on the seller. To qualify for a short sale, the seller must submit all of their financial documentation AND prove that that currently have a financial hardship. Many sellers donâ€™t submit the proper paperwork resulting in delays. Some sellers cannot demonstrate the required financial hardship. If a seller files Bankruptcy during the process, that will cause a delay. There are countless things that can and often will go wrong. Some can be overcome, some cannot. No Listing Agent, no matter how good they are, can control every action of a seller.
A short sale is VERY time consuming for all parties involved. A Buyerâ€™s Agent has absolutely no control in the short sale process. They are solely dependent on the Listing Agent and the seller.
If your sales price is very low, then your real estate agent is correct. They will probably make very little money for all of the time they have invested on your behalf. Some don't even make minimum wage when it's all finished. When the transaction falls apart, they make zero. Understanding these types of sacrifices is very important before you say someone is not looking out for your best interests.
There is no reason to expect that another party would give full disclosure of something like a Bankruptcy. Sellers often do not think about or sometimes care about the consequences of their actions. Your agent cannot be held responsible for those things.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing... more
As below, real estate agents are, by law, not allowed to "steer" clients to or away from areas. Do check your local police department and also the local Gwinnett County website for useful information. Good luck with your search!... more
If you have an agent who is representing you as the buyer, your question should be asked of your agent. Many people make the mistake of buying directly from the selling agent and therefore may not have representation, but even the selling agent may answer your question.
You didn't say whether you paid cash or had a loan on the house. I have represented several cash buyers and under those circumstances you work directly with the insurance company in making the payment. If you have not closed your transaction as yet, I suggest you put the insurance agent in contact with the closing attorney and make the payment as part of the closing (Do not pay in advance of closing just in case it does not close). After the closing, the insurance company would bill you directly on an annual basis going forward (sometimes you can setup payment arrangements).
If there is a loan involved, again you would put your insurance agent in contact with the closing attorney and your loan officer. Normally, you are required to make a upfront full years' payment, plus establish a monthly payment going forward that sets up an escrow for the payment for the next year. Your loan officer can explain this in more detail.
Again, you should have an agent representing you in your transaction whether cash or loan.