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Home Buying in Alton : Real Estate Advice

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Tue Jan 26, 2010
Gita Bantwal answered:
I agree with the other comments. Agents and sellers know the trick. If the seller is not aware of it and there are multiple offers the seller may prefer to sell to the onw who qualifies for the amount he wants and may make a counter offer to that person.. ... more
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Mon Jan 25, 2010
Warner King answered:
This is not the best real estate climate for these type of transactions. You would need to determine a price up front for purchase later....price is still very volitile to the downside. Financing will become more difficult going forward due to the eventual increase in interest rates and program guidleines...example, FHA just increased the amount a borrower has to have in the deal from their own funds and increased the upfront mortgage Insurance premium. Also, you are hooked with a larger monthly lease payment and required to maintain the property. I suggest the old fashion method of saving money and establishing a monthly rental payment that when combined, has you confortable with a future mortage payment. ... more
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