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46368 : Real Estate Advice

  • All7
  • Local Info0
  • Home Buying5
  • Home Selling0
  • Market Conditions1

Activity 6
Tue Dec 6, 2016
Dickisonfarms asked:
i have tried contacting 2 agents off this site so far and they don't return phone calls or emails
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Thu Feb 25, 2016
Douglas D. Miller asked:
I filed bankruptcy in 2011 after my wife passed and didn't reaffirm on my home. The bank took it back in may of 20013. Now I want to buy another home, is it possable. I live in Indiana.
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Sat Sep 27, 2014
Tim Moore answered:
Down payment minimums are a function of the loan type used. FHA requires a minimum of 3.5% down. VA and USDA require 0% down. Conventional loans range from 5-10-15-20% down. You can always put more down to reduce the loan amount and thus your payments each month.

If you are asking about earnest money then that is negotiable between you and the seller. Your agent will have an idea of what is customary in your area. If you want to offer an amount with $500 earnest money and the seller wants you to put more in escrow, they will counter your offer with that amount. Your Realtor will be better able to advise you on earnest money than the lender will. The lender will be able to tell you more about money as a down payment to the loan.
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Wed Jul 23, 2014
Brent Wright answered:
You should definitely contact an attorney and keep paying the mortgage as normal. The thing is in Indiana once you are married you are 1 identity. We are not a community state. Definitely meet with the lawyer because you should have ownership from my understanding. If you need help with anything or don't know an attorney just give me a call. (219)406-7195 ... more
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Mon Jun 10, 2013
Jessica Kljajic answered:
Thu Sep 24, 2009
Christine McDaniel answered:
Hi Phil,

As a home buyer you do want to work with a Realtor. You do not want to be calling off signs. That agent already has a relationship with the seller. Dual agency representation is allowed in Indiana but alot of states have done away with it. The Realtor you work with as a buyer would represent only you. They are paid by the seller. So it is free for you to work with a Realtor as a buyer and have your own representation.
The selling price of a home is important. A Realtor will also do a history search and see when the homes you are interested in sold last and for what price. Also a search of comparable properties in the area should be done.
If you are wanting to get in on the $8,000 tax credit you do need to get an offer in within a week or two. It is taking 45 days to close on homes. There has been a pick up in first time home buyers scrambling at the last minute. The lenders will be backed up.
If you are not working with a Realtor give me a call. I'd love to help you with your home search :)
Christine McDaniel
McColly Real Estate - Valparaiso
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