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64151 : Real Estate Advice

  • All7
  • Local Info2
  • Home Buying3
  • Home Selling0
  • Market Conditions0

Activity 5
USMortgageRa…, Real Estate Pro in Plano, TX
Thu May 5, 2016
USMortgageRanger answered:
Yes you can purchase any home as long as it meets the FHA guidelines. I would be delighted to provide you with some mortgage options, (this does not require us pulling your credit) that will allow you to make the best decision for your family. I can be contacted via my profile information for a FREE no obligation consultation.

Lowell Sterling
Mortgage Banker
NMLS 968898
Wells Fargo Bank
Plano TX
Phone (469) 347-3572
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Craig Vellar, Real Estate Pro in Kansas City, MO
Sun Sep 21, 2014
Craig Vellar answered:
If you are still looking for comps on duplexes, I can help you out. I see that it has been some time since you posted the question.

I just need some basic information on the property and I would be more than willing to help you out.

Thank you,

Craig Vellar - RealtorĀ®
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Rebecca Marv…, Real Estate Pro in Palmdale, CA
Sat Sep 20, 2014
Rebecca Marvel answered:
There are many factors involved in making an offer - even a 'lowball' offer.

How long as the house been on the market?
Has there been a recent price reduction?
How is the home priced compared to other similar homes in the neighborhood?
Is the seller a bank or someone selling as a short sale or is it an equity sale?
Does the home need repairs?

How low is "lowballing" would depend upon many of the things I just stated. For example if the house has been on the market for 5 days the seller (even if it's a bank) probably won't take an offer of $109k.

But some buyers feel the need to submit low offers just to see if they'll "stick". It can be a waste of everyone's time. Be certain of your motivation and do your research before wasting anyone's time.
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Garry Cribb, Real Estate Pro in Kanas City, MO
Thu Aug 2, 2012
Garry Cribb answered:
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Dale Weir, Real Estate Pro in Chesterfield, MO
Wed Apr 4, 2012
Dale Weir answered:
It depends on many things, none of which we can answer here

Your credit will be affected for 5-7 years from the foreclosure, but if your credit scores are really high, they may still be high enough to qualify. They will also look at your debt to income ratios and how much money you have to put down for a downpayment.

I HIGHLY recommend that you sit down face to face with a GOOD, LOCAL lender to discuss your situation. Note that a bank will typically only lend only their own loan packages, while a mortgage broker can look at different banks to see which has the best package for you.

You may also want to talk to a local HUD/FHA counselor about your situation. They will have no vested interest in whether you buy or not
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