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Home Buying in 48126 : Real Estate Advice

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  • Local Info7
  • Home Buying25
  • Home Selling3
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Activity 20
Sun Oct 11, 2015
Financialassuranceloans answered:
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Thank you
... more
0 votes 2 answers Share Flag
Wed Apr 22, 2015
ltdixon4 answered:
I'm an agent with Real Estate One - Dearborn I can provide you with a list of homes for sale via land contract. My office number is 313-565-3200
0 votes 1 answer Share Flag
Thu Nov 21, 2013
Annette Lawrence answered:
T,
You are asking the WRONG question.
Instead of asking, "Who can I complain to?" you should ask yourself, "How can I buy one of these homes?"
-
The reality is, homes that are priced below market value, usually those in need of extensive updating are EASILY sold. I have two active institutional investors, more then five regional investors and several "I wanna flip a house' citizens ready to put their money on the table. When they don't, I'll put my money on the table.
-
You as a potential buyer can be one of these SERIOUS buyers. But you must PROVE yourself to be a SERIOUS buyer.
#1. Serious buyers don't remain anonymus..they pick up the phone.
#2. Serious buyers have proper expectations.
#3. Serious buyers KNOW what they want. "Looking for a deal' won't do.
#4. Seriuos buyers have the resources....that means MONEY.
#5. Serious buyers are quick decision makers.
#6. Serious buyers know they must COMPETE or PAY for the privelege of not competing.
#7. Serious buyer realize getting an early options puts them ahead of the race.
#8. Serious buyers don't complain about losing, they strive to become more competitve.
#9. Serious buyers work with professionals
#10. Serious buyers use serious resources and leave the playthings of entertainment sites behind.

Bonus value: Serious buyers build a team of professionals who will collaborate and cooperate in sharing information and resources. THis team will quickly EXPEL complainers.

You are absolutely right. By the time YOU see a home for sale it has already been marketed to 5 levels of buyers before you ever see it. When you do see the really good stuff...it is way too late. Your choice is to prove you are qualified to be on the FIRST LOOK option of area real estate professionals.

Looking for someone to complain to will not get you closer to buying a house.
Blaming your failure to buy a home on real estate agents reveals you have no knowledge how distressed homes are acquired and sold. Somehow, you need to recalibrate yourself and prove you are a serious buyer and team up with the pros...that is, those who do not know you wrote this question. Why? Becuase you are already looking for someone to blame. When you make a truley bone-head decison. you will again, look for someone to blame. That does not make for a good team member.
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0 votes 4 answers Share Flag
Thu Nov 21, 2013
Kawain Payne answered:
Hello Roads,

You can get a 5% percent conv. loan providing you meet the credit and income requirements set forth by your lender.


This will change your monthly payment some.

Kawain Payne, Realtor ... more
0 votes 4 answers Share Flag
Tue Oct 8, 2013
Noraearhart answered:
if you work overseas 340 days a year you are an ex-patriot. simply put, you cannot have it both ways. however you home can be listed as a deduction because you are making the payments.
IRS watches expats financial . first of all usa looses some tax revenue on you, but remember you get the first $100,00 tax free. rules have changed but you can check with your Overseas Employer.
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0 votes 4 answers Share Flag
Wed Sep 11, 2013
Nadine Hadla answered:
Everyone's dream is to build there own home. If you can do it, Go for it.
0 votes 7 answers Share Flag
Wed Sep 11, 2013
Nadine Hadla answered:
Sounds Like you are a good candidate to qualify for a mortgage. If you are still in the market, you can contact me at 313-642-3659 or Nadine.hadla@gmail.com.
0 votes 7 answers Share Flag
Mon Aug 13, 2012
Ron Thomas answered:
Didn't you have your Realtor do a CMA before you put together your offer?
You shouldn't have wasted your time.
It also sounds like you shouldn't have fallen in love too early.

Move on, you'll fall again. This is someone else's problem.

Good luck and may God bless
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0 votes 1 answer Share Flag
Fri Nov 26, 2010
Derek Bauer answered:
I have yet to find a seller, short sale / bank owned / or otherwise, who wouldn't prefer cash...
0 votes 9 answers Share Flag
Mon Nov 22, 2010
James Ryan answered:
Hi Baracuda,
Ignoring for a moment the unlikely mortgage qualification of your borrower (most lenders have a time requirement of 2 years or more with a foreclosure or short sale) this question is best posed (and answered by) to a good Michigan Real Estate Attorney.
Any legal advice you may receive here is probably worth what you are paying for it...
Jim Ryan, HSOA 703 591 5626 ext 419
... more
1 vote 7 answers Share Flag
Mon Sep 13, 2010
Bob McClure answered:
good afternoon...if you would like to talk...perhaps you do have some options we could discuss.....
best regards
bob mcclure
mortgageone
brighton, michigan
1 vote 3 answers Share Flag
Sat Jun 26, 2010
Susan B Columbo Pa answered:
I do a great number of foreclosures and the deal is not dead.............or at least yet. If your appraisal came in low, and it is bank owned, the asset manager may just reduce the price to the appraised price. Once a asset manager has a property that under appraises they have no idea if it will happen again, and don't want this subject on the books forever. I would have your agent submit a addendum requesting the property purchase price be reduced to the appraised amount of $$$$$$. Include with this request a copy of the full appraisal so the asset manager can view the report as well as your request. Hope this helps. ... more
0 votes 7 answers Share Flag
Sun Apr 18, 2010
Joyce answered:
The home is actually for sale, the important thing in a short sale is to find out how far in the process they are, has the bank set a price and does the agent representing you know what they are doing when it comes to the short sale process, I have successfully helped clients purchase short sale properties, it is a lenghty process but is not just a play. ... more
0 votes 3 answers Share Flag
Tue Jan 26, 2010
Tony Grech answered:
I'll second what he said. You'll need to speak to a local agent to get some listings, and there are definitely only a limited number of homes available via this option.

To add to that, don't be surprised if they want a hefty down payment from you and/or charge you a high rate. They will probably want to do some sort of a background/credit check on you as well. As a seller, it's just really risky carrying the financing yourself so you don't get a ton of owners willing to do it.

Best of luck Sarah!
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0 votes 2 answers Share Flag
Fri Dec 25, 2009
Craig Snead answered:
After more research I found someone else experiancing similar problems who sugessted:

Zervos Group, Inc.
(248) 355 - 4411
24724 Farmbrook Rd.
Southfield, MI 48034
0 votes 2 answers Share Flag
Thu Sep 3, 2009
Ummarwan answered:
Wow, just got an email from my agent. Apparently, we haven't even hit phase two of this short sale process!!! 5 months in phase 1 and still counting! Just found out the 2nd BPO is not going to be a drive-by, it's actually another interior one which is required because seller has a government loan. So it's sure is possible the third BPO could be a drive by! uggghhh! Are BPO's the last part of phase 1? Anything else I should expect? Any idea what's the usual time frame of phase 2?

My agent keeps tellin me to hang in there, hopefully, you could provide me with more than that:)
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0 votes 7 answers Share Flag
Mon Jul 20, 2009
Ahmed answered:
Vconverter,

You are absolutely right, the inspectors are looking for bribes, I don't advise anybody to buy in city of Dearborn either, I had hard time getting my house up to code (I finally got it, I spent double the amount that I paid on the house to fix it), you see the inspectors couldn't care less how good or bad the property is, they will keep looking for little things that consume lots of time and money! Well unless you give them a thank you tip on their way out then things will change.

I didn't give anyone any tip, it is a bribe and these inspectors are disgusting. Someone should tape them for taking these bribes then sue them!
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0 votes 4 answers Share Flag
Wed Jun 17, 2009
Tony Grech answered:
It depends on how bad the credit is. Lenders are in no hurry to make loans to people who represent a big credit risk. Depending on the extent of your credit issues you may need to wait until you clean them up. I'd recommend speaking with a lender to review all your details and determine what you can qualify for ... more
0 votes 3 answers Share Flag
Wed Jun 10, 2009
Mageada answered:
Virginia, where is your listing? is it in Dearborn? How does a land contract work?
0 votes 3 answers Share Flag
Sun Oct 26, 2008
Rose Mary Simms answered:
Good Morning Susan,
This home has been taken off the market and I believe it is headed to foreclosure. Asking 163,900. If you are interested in this home I can attempt to halt the process however you must be bank approved and ready to act immeditately. In the event this home doesn't work for you... we can find another that is similar.
You can call me after 10am today.

248-735-9133

Rose Simms
Keller Williams Realty
Senior Consultant
www.rosesimms.com
... more
0 votes 1 answer Share Flag
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