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55409 : Real Estate Advice

  • All6
  • Local Info0
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 5
Mon Sep 21, 2009
Voices Member answered:
As Alina said below, what kind of repairs does it need? FHA financing does not allow for the purchase of homes with certain problems or needed repairs. If there is anything you can do to correct them do it.
Also you may want to bite the bullet and get an appraisal, while a CMA is great an appraisal is something you can show potential buyers and agents to let them know that this is what it is worth. I jsut had one of my for sale by owner clients lose a sale because the home was just not able to be appraised at what she wanted to sell it for.
What kind of marketing is your Realtor doing? Are you getting a lot of lookers but no offers, that could be a price thing. Also either you or your Realtor should ask the realtors bringing people through for feedback, did you hold a Realtor open?
Both Alina and Patrick below had great responses maybe you should consider listing with them! How long is your contract with your current realtor? BUT as hard as a pill as this is to swallow, remember that in this market at this time, your home may and probably won't be worth what you think it is. It might suck but listen to the professionals on pricing if you want to get that house sold.
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Wed Sep 9, 2009
Lauren Dolly answered:
Hello Sara,

A 30 day escrow is the typical timeline in real estate transactions due to the timelines set up by the department of real estate to allow the buyer time to exercise their rights to inspect the property, and have time to get their financing in order. You certainly state as the buyer that you are willing to close in less than 30 days to make your offer more aggressive. However, lending guidelines are changing rapidly and often make it more difficult for them to get home owner's approved for a loan, and meet the lenders conditions. There are many factors could delay the time of closing such as HOA documents, and request for repairs. Mostly the 30 day timeframe is given to protect the buyer . For more understanding of real estate transactions please contact a local realtor in your area. ... more
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Tue Aug 26, 2008
Cameron Piper answered:
Sara,

The only way to know is to find a lender willing to do manual underwriting. Another question you need to ask yourself is whether or not the circumstance that caused your bad credit has changed. Only you can answer that question but if you have the same financial habits that got you into trouble before, then a house is not going to be a blessing in your life. See my response to your other question.

Cameron Piper
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Tue Aug 26, 2008
Tino Martinez answered:
Can you give me the specific reason(s) for the decline- I have several investors that will do a manual underwrite.

thanks

Tino Martinez
630-835-9044
First Capital Mortgage
tinomax@mchsi.com ... more
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