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Home Buying in 60148 : Real Estate Advice

  • All31
  • Local Info5
  • Home Buying9
  • Home Selling3
  • Market Conditions0

Activity 7
Fri Sep 23, 2016
Everettarchuleta answered:
I agree with above answers. These are the important thing. Furniture also attracts buyers. I think front door and other doors are one of the main things. You can give it an attractive look by changing door knobs and handles. Vintage metal printing door knobs can give a unique look. Copper knobs are also available at affordable prices. ... more
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Tue Jul 15, 2014
Tammy.9856Burch asked:
Mon Dec 9, 2013
Lester S. answered:
It varies from market to market, price point and other variables......the answer generally lies in what type of financing is being used in that market and specifically in that transaction. Cash and 20% down buyers will usually not request closing cost credits from a seller, while low or no money down financed buyers (generally 5% down or less) usually will. While they have qualifying credit and debt to income ratios for these programs, they often simply lack the funds necessary to cover the down payment and all the costs without wiping out all their needed reserves. While there are some correlations to first time buyers having less funds and using these loans, a first time buyer with conventional 20% down financing (or cash) probably won't be requesting/negotiating closing cost credits. On the other hand, a 4th or 5th time home buyer using FHA (3.5%) or VA (0 down) financing most likely will be looking for these credits. From there, you can usually make some general assumptions.....if you're talking about an $800K purchase, you probably won't expect to be negotiating closing cost credits. If you are talking about a lower price point market or town home/condo association you might find that a significant or even majority of sales include seller assisted financing. Hope this helps.

Regards,

Lester S.
"Lester the Lister"
RE/MAX 1st
630.207.2532
LestertheLister@yahoo.com
... more
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Fri Aug 16, 2013
Riccardo Wardlow answered:
Not only do we give FHA loans but we can do them down to a 580 score.


Riccardo Wardlow
Owner
Quality Mortgage Lending
630-670-8266

RATED A+ WITH THE BBB

*We do Conventional loans down to a 620 score
*We do FHA loans down to a 580 score
*We do USDA loans down to a 620 score (no money down)
*We do $100 down payment FHA program
*Unlimited Loan To Value refinances on Fannie/Freddie refinances (only on loans originated before May 31st 2009
*We do VA loans down to a 620 score
*We give free counseling on what needs to be done to improve your credit score.
*We do 203k loans down to a 620 score
*We do reverse mortgages
*We do JUMBO loans to 12 million
*We do Itin loans
... more
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Tue Jul 2, 2013
Tim Wangler answered:
Zillow and trulia use algorithms that use general information. It does not compare apples to apples. Appraisers typically use MLS data and have certain criteria like radious of near by sales, condition of home and so on. ... more
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Mon Apr 9, 2012
Shawn Anderson SRES,CNC answered:
Asking buyers to cover these fees is pretty normal. Those sellers knowing they were going to loose their homes stop paying the HOA dues. I've seen some at $10,000. It is the first thing I find out before writing. I alos call to find out how the Association is doing with deliquents. I can can quickly assess if this has to be a cash buyer only or if your lender will decline the loan due to this exact info. Best to find this all out first. Your agent should have made these easy calls just out of due diligence. They should chexk with the village to see if there are any unpaids with them as well. I just did one where I called the asoociation myself and found out that my buyer would have to rplace the garage door within 45 days of closing because it was in terrible shape. You are on the hook for these fees the bank does not take responsibilty for them, wouldn't itbe nice if they did. ... more
0 votes 6 answers Share Flag
Fri Jul 25, 2008
Lisa Schade answered:
Hi Mike-
Wow! Not all agents are created equal, and I'm sorry that you had a bad experience. But, we shouldn't all have to pay the consequences. Many of us do work extremely hard for the income that we make. Many of us are underpaid for our services.

Unfortunately, as is true in any profession, there are always bad experiences, and everyone else in that profession gets judged by that bad experience.

I suggest that the next time you decide to buy, you interview multiple agents, if you have to, to find an agent that will work on your behalf. Ask them questions, trust in their answers and ask for references.

If they're serious about there profession and getting the job done right for you, they will work with you to make you feel as comfortable as you need to feel.
... more
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