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34212 : Real Estate Advice

  • All23
  • Local Info4
  • Home Buying9
  • Home Selling0
  • Market Conditions0

Activity 18
Sun Aug 28, 2016
Lynbruce39 asked:
We need a company that will buy this house and rent it back to us until we can afford the down payment and closing costs on this home. Do you know of any company that does this?
0 votes 0 Answers Share Flag
Tue Dec 1, 2015
Diana Hellman answered:
Your best bet is to speak with a mortgage professional who can discuss your finances and the options available to you. You can either go to a reputable bank or speak with a local realtor about mortgage professionals recommended by the real estate community. ... more
0 votes 1 answer Share Flag
Thu Oct 29, 2015
Womansbikeseat answered:
No community pool in Lighthouse Cove single family homes. Lighthouse Cove SFH is the bstard, forgotten child of the Heritage Harbour Community. With HOA fees only slightly lower the the communities that actually have amenities. The Tot Lot is gone, anyone (non-residents of HH) can drive into the HH community and use the baseball fields, park and soccer fields. The soccer field is mostly used for residents of other communities to let their dogs defecate in, I barely see any organized soccer teams playing on the fields. ... more
0 votes 6 answers Share Flag
Thu May 7, 2015
Kelly.feng answered:
Hi, I have a lovely house just built early this year, 3 bedroom +den bunglow with 2 full bathrooms, 1881 sqf located in Brandenton and having lake view. I stayed there for two weeks in March and it is a very nice family community to live, gated entry 24 hours with highly rated schools . I am in Canada please contact me if interested and I will ask my agent to help you showing the house. asking for $1890 per month and discount for lease longer than one year. kelly.feng@opg.com
thanks.

Kelly
... more
0 votes 5 answers Share Flag
Fri Feb 27, 2015
Heather Cosgrove answered:
Yes, you may want to lease something first so you have a better idea of 'where' you want to own. Our prices look like they are all over the place. But that is mainly because of location. How close to the water do you want to live? What is your price range & criteria? ... more
0 votes 8 answers Share Flag
Sun Feb 22, 2015
Kyle Thompson answered:
Here is my link to begin your search. There are 440 homes right now and growing in the Bradenton area...many without CDD fees. Let me know what you like and we'll take a look. I live right here in 34212 near Heritage Harbour. Thanks!



https://homepartners.com/account/register.cfm?utm_brokerage=CENTURY%2021%20Beggins%20Enterprises&utm_agent=Rudy%20Kyle%20Thompson&utm_agentemail=kylethompson@c21be.com
... more
0 votes 3 answers Share Flag
Sat Feb 14, 2015
Kyle Thompson answered:
http://www.heritageharbourcommunity.com/Associations/stoneybrook/stoneybrook.html

(941) 750-9688 manager@stoneybrookhoa.com
0 votes 6 answers Share Flag
Sun Nov 30, 2014
Diane Christner answered:
Hi Sherri,

What type of loan are you approved for? Conventional, FHA, VA?

If you are obtaining a loan when purchasing a home in FL, you can expect to pay the state of FL the following fees at closing -- Doc stamps on the deed at $ .70 per $100 of sales price, Intangible tax on the mortgage at $ .002 x mortgage amount.

Depending on how you word the offer, either you or the seller would be responsible for paying for the title search, exam and title policy (but buyer is responsible for their own lender required endorsements). The title policy is based on price of the home. For example, on a $300,000 home it would be $1575.

You will also be responsible for the recording fees to the county for recording your new mortgage.

Your lender should provide you with a Good Faith Estimate of closing costs. Lender related fees typically include things like: loan origination fees and points, appraisal fees, credit report, tax service fee, underwriting fee, document prep fee, flood certification fee. Some of those are negotiable, some are not -- your agent should be able to help you with that.

Lenders typically want you to pay one year of homeowner's insurance at closing. You will also be required to set up an Escrow Account at closing for property taxes, hazard insurance and if applicable, PMI (private mortgage insurance).

If the property is located within a flood zone, flood insurance will be required as long as you have a mortgage.

Your lender will collect at closing Prepaid Interest (which is calculated on date of closing to end of the current month).

A survey of the property will most likely be required.

Other costs are optional such as home inspection, termite inspection. Although optional, these inspections can be money well spend, so find a home inspector with both good credentials and a good reputation.

Builders of new construction homes use their own contract forms (vs the standard FAR-BAR used by most FL agents these days) and often have additional fees and charges built into the contract, so read those 50-80 page contracts very carefully.

Both FHA and VA loans have up front fees. Both FHA & VA require the seller to pay certain costs on behalf of the buyer, your lender should explain those to you.

Just before closing your lender should provide a preliminary copy of the actual Settlement Statement, known as the HUD-1. This will show the final closing numbers for both buyer and seller sides, including the buyer's actual closing costs and cash needed to close.

If you have found a home you are interested in making an offer on, have your lender provide you with a Good Faith Estimate based on your estimated purchase price. That is a much better source of costs to close than using a percentage estimate.

Regards,

Diane Christner, Realtor, GRI, SFR, CNE
Bright Realty
Sarasota, FL

www.DianeChristner.com
www.DianeChristner.info
... more
0 votes 3 answers Share Flag
Sun Nov 23, 2014
Simon Campbell answered:
There are some local, statewide and federal programs designed to help first time home buyers. You also benefit from home value appreciation and the security of "owning" your own home.
0 votes 1 answer Share Flag
Sun Nov 23, 2014
Annette Lawrence answered:
There are two significant issues for which you must be concerned.
#1. regarding the daycare....talk to your attorney and insurance provider. Will the daycare be licensed?

#2. This is IMPORTANT.
How many properties do you own and have provided 'financing.' If over three, the Dodd Frank Consumer Protection Act may expose you to catastrophic risk. You will discover that your 'rent-to-own' will need to be something other than alternative financing. Again, you need to be paying a real estate attorney for sound guidance.

The outcome of all this is you can reduce but never eliminate yourself from being sued by anyone for anything. And your attorney will advise you to 'settle.'

Best of success,
Annette Lawrence, Broker/Associate
Remax
Palm Harbor FL
727.420.4041
EXAMPLE: Market In A Minute & CIS Score on TRULIA
http://goo.gl/BN6LUW
MORE about CIS Score:
http://bit.ly/1uHGE3K
Over 2 years have passed......
... more
0 votes 3 answers Share Flag
Wed Nov 12, 2014
Onenicebinnie answered:
If the buyer pays for the Home Inspection, does he/she have the right to have a reduction of the cost of the sale price of the home?
0 votes 66 answers Share Flag
Wed Nov 6, 2013
Alexandria Nickolai answered:
As mentioned the fees vary based on home type. They are also starting to offer "social" memberships with home purchases, which would not include golf so fees would be lower. You would have access to all the other amenities, pool, fitness, clubhouse, etc. This is for homes in RiverStrand. But as mentioned there is also opportunity in Stoneybrook and Lighthouse Cove. ... more
0 votes 6 answers Share Flag
Thu Nov 15, 2012
Maria Cipollone answered:
The ability to buy a property after chapter 7 depends on a different factors. Shop around for a mortgage broker, they have access to many banks, private lenders and many different programs. Consider buying a property, before leasing one with option to buy.

Best of Luck,

Maria Cipollone

Century 21 Tenace

www.Flahomesepcialist.com
... more
1 vote 2 answers Share Flag
Mon May 7, 2012
Mack McCoy answered:
Rohio, I am not a credit expert, but I am a real estate expert, and I think rent-to-own is a terrible idea.

Let's start with the market for rent-to-own homes. Very slim. Very few choices. We know from experience that buyers often compromise from their "dream home" when they have the entire marketplace to choose from; narrowing it down to rent-to-own cuts the market by 99%. So you're going to have very few choices, and the chances of any of them being satisfactory is tiny.

Then, we move on to the risk factor. The seller gets your down payment and an inflated rent, and your credit gets healthy and you realize - gee, now I COULD go out and buy that nice home around the corner, but I've already poured a ton of dough into THIS one. :(

Or. The seller gets your down payment and an inflated rent, and stops making the mortgage payments. Oops.

All the best,
... more
0 votes 5 answers Share Flag
Thu Apr 26, 2012
Diane Christner answered:
Hi,

Bradenton is very diverse when it comes to neighborhoods and styles of homes. Much of the actual city of Bradenton is older construction, some going back to the 1930's. As you move west you'll find quite a mix of single family home neighborhoods, quite a few condo communities and some duplex neighborhoods as well. Most of the single family home neighborhoods were built anywhere from the 1950's to 1980's, there are few newer construction single family homes closer to Anna Maria / west Bradenton, with the exception of a handful of communities.

Generally, the closer you get to the beaches the higher the prices for both purchasing properties and rentals.

If you are looking for newer construction homes, especially within deed restricted neighborhoods with community amenities, those can generally be found in eastern or southern Manatee county.

As someone else already posted, the definition of "best" neighborhoods is going to be defined by your personal preferences, your family's needs and wants in a community. Without knowing more details about what you are actually searching for, it would be difficult to be more specific about neighborhoods at this time.

Crimemapping.com is a suggested site if you want crime statistics for specific areas. As real estate agents we cannot and should not comment beyond that regarding the specific topic due to fair housing regulations.

If you have general questions about Bradenton, please feel free to contact me as I have lived in the Sarasota - Bradenton area for 30+ years and in Bradenton the past 9 years. I would be happy to share whatever information I have with you.

Regards,

Diane Christner, Realtor, GRI, SFR
Realty Executives Solutions
www.DianeChristner.com
cell: (941) 726-7109
... more
0 votes 10 answers Share Flag
Wed Feb 8, 2012
Kevin Cloutier answered:
I think you will find that the bank woyd have a serious issue with the seller making money on the sale, since its prohibited. Unless you were to buy the applinaces for $2500 and submit an offer $2500 lower to the bank.

You need the seller to sign a purchase contract as the nbank doesnt own the house.

Report him to the bar and the bank, then find another house.

Good Luck


Kevin
... more
0 votes 5 answers Share Flag
Fri Sep 30, 2011
Jim Soda answered:
There are very different sub-divisions within the zip 34212. Each of those may show a different price per square ft. Square footages DO NOT tell the exact story. What if one property has a great view and one looks at a water tank. What if a property has crown molding, trayed ceilings and built-ins, while the other property is a stripped out foreclosure. You need to engage a good realtor and do comps for specific areas and the sub-division of your interest. Do not generalize square foot prices. More Realtors should not either.
Jim Soda .. TheSodaGroup.com
Keller Williams Realty Sarasota-Lakewood Ranch
... more
0 votes 9 answers Share Flag
Thu Feb 12, 2009
Bill Eckler answered:
Hi Elaine,

As previously mentioned, this is a bank owned property. If you would like specific information about the foreclosure buying process and how best to collect important information and present your offer, we would be happy to hear from you.

Good luck,
The Eckler Team
billeckler@michaelsaunders.com
941-408-5363
... more
0 votes 3 answers Share Flag
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