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Auburn : Real Estate Advice

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  • Local Info1
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 17
Sat Jan 14, 2017
tarie asked:
my seller stated the following

willing to sell home for 115k and give rent and deposit credits of 7.5k and closing cost of up to 3.5k so 104k?
0 votes 0 Answers Share Flag
Tue Aug 23, 2016
K N answered:
Income (pre-tax) .................... 24k
Income (tax'd) ........................18.5k give or take
Personal investment .............. 6k give or take
401k ....................................... 2k
Saving .................................... 1k

Student loan debt ................... 5.5k
Credit card debt ...................... 1.3k
Car loan .................................. 8k

House price (targeted) ............ under 85k
Area ........................................ Barrow, Jackson, Hall

TransUnion ............. 730 (as of 8/22)
Equifax ................... 698 (as of 8/22)
FICO ...................... 720 (as of 8/8)
Experian ................. 728 (as of 7/29)

Some caveats:

I receive student loan from subsidized loan, so I put the difference in saving account to get interest (while receiving interest-free subsidy from the Dept of E., it's a bit unethical, but hey it's there..) This is the first year I start doing so.

The one credit card that carries 1.3k balance has $25 monthly and 0% til 05/2017. I have other 6 cashback/gas cards from USAA and NavyFed which I pay off every month.

The auto loan has $165 monthly payment, initiated on 7/20, and first payment isn't til Sept, but I've been making 400 bucks payment past 3 weeks. I tend to pay off loan early (I've had another auto loan and student loan with NavyFed which I paid off each within 6 months.)

Please email me at khoa [dot] atl [at] gmail if you are a professional and are serious about this.

Thank you.
... more
0 votes 1 answer Share Flag
Fri Apr 15, 2016
pulgan answered:
If it is a great deal or you want it and the owner is being honest about the condition of the house, I would go for it. Of course get permission from the owner prior to any repairs being done. As a precaution, I would consider waiting for all other inspections required by the bank to pass before doing the needed repairs. I am familiar with Lawrenceville and you can get away with doing what you feel would work out. Atlanta would be a different story and you probably understand what I am saying. In California or Florida I would be hesitant because of insurance and law suit potential. In parts of Arkansas a handshake is still legal. People from other areas are confused when they are held legally for their word. I have also seen where people were so careful in hiring Attorneys and getting the paperwork perfect and they still got screwed. Amazing how a piece of paper became so important. When England first came to America they really didn't own the property and simply made up a document and it has been considered legal ever since. ... more
0 votes 11 answers Share Flag
Mon Nov 16, 2015
Solomon Greene answered:
Auburn rests on the border between Barrow and Gwinnett Counties. The Gwinnett County portion is served by Dacula High School and you'll find the profile to that city at the link below. But Auburn also offers a vibrant quality of life with parks, new communities and more all in a quiet setting.

http://www.cityofauburn-ga.org/?page_id=750

Dacula, just a short drive away, has a pool, and your neighborhood of choice may also have one.

Would appreciate the opportunity show you around sometime.

Solomon Greene
678-775-2677
... more
0 votes 1 answer Share Flag
Fri Jun 19, 2015
Javier Montiel answered:
The Agent that posted the photos can remove them. Otherwise, try calling Trulia customer service.
1 (888) 466-3501
0 votes 1 answer Share Flag
Thu Apr 9, 2015
Karen Peyton answered:
Every contract contains an explanation of how time is calculated (e.g. calendar days, business days, exceptions for holidays, when timelines begin and when they end). Look for this writing in your contract, or consult your real estate agent and/or attorney. ... more
0 votes 4 answers Share Flag
Mon Oct 6, 2014
Debra (Debbie) Rose answered:
Well Melissa, apparently it IS a problem if the appraiser is insisting on the completed repairs as a condition of the loan!!
0 votes 3 answers Share Flag
Tue May 13, 2014
Brian Nguyen answered:
It seems that your scores in your range should work. Lenders like myself can go as low as 580 when it comes to middle credit scores. Of course, your other finances will need to be in place as well including your income, debt, assets, employment, expenses, etc. The best thing for you to do is to speak with a knowledgeable lender like myself to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
... more
0 votes 4 answers Share Flag
Thu Apr 11, 2013
Betty D. Scyphers answered:
Check with your local BB&T Bank.. Most lenders have the same products.. Main thing to look for is good service..dependable Company with a good track record.
0 votes 3 answers Share Flag
Sun Jan 13, 2013
Dorene Slavitz answered:
Dear Sushi,

It's extremely unlikely a lead paint test has been done. You can expect most older homes have lead paint under the existing paint. Homes that have had extensive remodeling, may have had lead paint removed at that time. In my area, it's not unusual for an extensive remodel to remove all walls except one, so the lead paint issue may have been mitigated that way. The best way to know is to pay for a lead paint inspection before purchase. ... more
0 votes 4 answers Share Flag
Tue May 8, 2012
Michael Hammond answered:
The home at 918 Mulberry in Auburn is actually listed for $155,900, boss. If you would like for me to send you an electronic flyer of that or any other properties in the area, please forward me your email address and I will get them over ASAP. If you'd like to see some listings today or tomorrow, please call, text or email and I will arrange the showings. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com
... more
0 votes 1 answer Share Flag
Mon Jun 20, 2011
Cindy asked:
Tue Mar 23, 2010
Carolyn Gibson answered:
Hello Joan, there are several ways to determine the institution of record. If it is a listed property of course the listing agent can provide that information, if it is a pre-foreclosure, you can check county records or contact me as I have access to Georgia tax records and will be very glad to assist you with that informtion and guide you through the process to offer on a REO prperty. I am a certified CREO,HUD and foreclosure specialist. You can reach me at carolyngibson@jackwaldriprealstate.com or 770-654-9572. ... more
0 votes 2 answers Share Flag
Tue Dec 22, 2009
Catherine "Cathy" Chaudemanche answered:
Christina, you seem to be a pretty savvy business person-

Not sure if you already listed your house and hopefully it is already sold…

Let me give you just one perspective related to the effect of commission cutting.

1. Most real estate agents are paid solely on commission-
2. The commission you are negotiating with your listing agent will be advertized for all other agents to see (this commission is documented in the MLS agents use to search for homes for their buyers)-
3. In most local markets, there is more supply than demand (meaning that there are more sellers or houses on the market than potential/qualified buyers)-
4. Agent are usually selecting houses for their clients and cannot show all houses in a town-

So now, let me ask you, when the agent is going to have to select a few houses to show, which houses do you think most agents are going to pick?
The ones with a commission of 6%, 5.5% or 5%?

Now you understand that to a large extent, real estate is a number’s game, meaning that the more showing and the more chance to get an offer.

By decreasing the commission, do you think you are going to increase or decrease showings?

I hope it helps-

Cathy Chaudemanche
... more
0 votes 8 answers Share Flag
Sun Aug 2, 2009
Stephanie McCarty answered:
Hi JHodges. Yes, the binding agreement date starts the clock on all contract deadlines in Georgia for residential real estate using the GAR forms. The due diligence period doesn't apply until you have an accepted and binding agreement. Your buyers can look all they want before you get an acceptance from the bank on this short sale. If they find something they prefer, I would simply have them sign a Notice to the Seller and fax it immediately withdrawing the offer - come to think of it, I think there is a GAR form for that - don't have forms file open right now or I would check for you. Good luck on your short sale. ... more
1 vote 3 answers Share Flag
Wed Dec 19, 2007
Eric Mabo answered:
Homes owned by investors are probably more likely to go into foreclosure than owner-occupied homes. So your proposal may be good.

However restricting the buyer pool may keep your properties longer on the market and also beat down the prices. So this is a tough call here. You may be trying to create more headache here than it's worth it, as the investor-owners are surely going to fight this. ... more
0 votes 7 answers Share Flag
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