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40216 : Real Estate Advice

  • All15
  • Local Info3
  • Home Buying7
  • Home Selling2
  • Market Conditions0

Activity 11
Wed Sep 13, 2017
Chaptv asked:
I am about to buy this home perhaps.
0 votes 0 Answers Share Flag
Wed May 25, 2016
Hengler asked:
I was just pre-aproved for a $150,000 FX fixed 30 year. The house I am looking at purchasing is listed at $85,000, would I be able to get approved for a second house. My significant other…
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Thu Feb 18, 2016
MCM_STL answered:
You can talk to an attorney. Buying a house with someone you aren't married to without establishing a legal contract between the two from the get-go spelling out what happens in situations like this is usually not a great idea. I'm talking written contract akin to a pre-nuptial contract not some verbal agreement between the two of you. ... more
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Wed Nov 25, 2015
Diane Christner answered:
Picking the right real estate agent to help you find your next house could save you many hours of wading through Internet listings, viewing homes that aren't right for you, and perhaps save you $$$ in the negotiation process .

First, I would suggest selecting an agent who normally works not only in the area where you wish to purchase a home but also the price range. He/she should be up to date and knowledgeable about local listings, neighborhoods, schools and general area information. They should be up do date on recent sales in your targeted area and/or neighborhoods.

Some agents may disagree with me, but most buyers would be better served by working with a real estate agent who does real estate full time vs a part-time agent. You want an agent that makes real estate a priority. Along that same line, I would also suggest asking the agent how long they have been working in real estate. While the amount of time they have been a real estate agent doesn't guarantee their ability to do a good job, the skills needed are mostly learned while actually doing the job. So hiring an agent who makes their living by listing/selling real estate full time and have been doing so for at least a few years generally equates to a better, more knowledgeable agent.

When you contact an agent you should definitely ask whether you will work directly with that agent or will they hand you off to a member of their team. There's nothing wrong with an agent having a team, but if you are going to work with a designated buyer's agent from a team, you should really be interviewing that team member not the agent you originally contacted to see if the agent is a good fit for you.

The agents you contact should spend at least a half hour to an hour with you initially, either in person or by phone, to get a good feel as to what type of home you are specifically looking for, going into details as to your likes and dislikes. That's a good time to evaluate the agent's communication skills and whether they are really listening to your answers. The agent should ask probing, detailed questions about the features & style of home, neighborhood and other criteria important to you. They should also ask questions regarding your finances - will you be paying by cash or mortgage. If you will be getting a mortgage, the agent should go into more details with you as to what type of financing, down payments and if you are pre-approved (vs just pre-qualified) for a mortgage.

You should also ask how often they plan to keep in touch with you after your initial consultation. Will it be whenever new listings come on the market, daily, weekly? How will they contact you -- by email, phone, text?

You can also ask the agent if they can provide you with references from recent customers who have bought homes through the agent.

You may have to go thru several agents before you find the one that is a good fit for you and your situation, so don't get discouraged by the process.
... more
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Tue Jul 2, 2013
Don Tepper answered:
There's no "standard." It really varies, based both on the value of the property AND your local norms and expectations. In some areas, $500 is OK. In other areas, it might be $1,000. Or it might be roughly 1% of the purchase price of the home.

The larger it is, generally, the more seriously the seller will consider your offer. An earnest money deposit of $10,000 on a $300,000 home will be taken more seriously than an EMD of $500. Just make sure your offer is written so that you can get your money back if circumstances change.
... more
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Mon Mar 21, 2011
Mark Atteberry answered:
A builder wants to BUILD not just resell homes. Think of it as an artist...He doesn't want to resell the canvas he bought for $20 to get $25, he wants to work to increase the value and make money on the finished product. The big money is in the build and the better the lot, the better the chance of him/her reaping a big reward. Bottom line...he marks it unreasonably high so you either buy it outright at a ridiculous price and he is okay with it or they show you how affordable the finished product will be and you contract with them to build.

Either way, it sounds like you have found the hardest part of the equation and that is the perfect location. If you want to have a strong negotiator on your side to get the most house for your dollar, I would be happy to help.

Wishing you the best,

Mark Atteberry, SG Priest Realtors
Delivering Personal Service with Exceptional Results
502-224-1039 Cell
... more
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Wed May 19, 2010
Nogui Aramburo answered:
The magic number is 620. That's what FHA requires. You are not far away! Have a credit repair company (reputable one), assist you with this. What they'll do is dispute items on your report. If its an old charged off debt, it will probably fall off your report. Act on any recent debt that you can pay off and have the credit repair company negotiate a settlement. It may take some time, but don't be surprised if your there before you know it! ... more
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Fri Jan 1, 2010
Nancy Keith Cooper Realtor answered:
Help line is on my web site, start with the first one. There is life after all this keep your head up
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Thu Apr 23, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
You can get it but I think you would have to get it through a lawyer or a paralegal. The bankruptcy infomation is on a system call a paser. It tracks all bankruptcy filings. Title companies may have the ability to check the paser too.

Keith Manson
First Weber Group
Certified Distress Property Expert
Greenfield, Wisconsin
... more
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