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Columbia : Real Estate Advice

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  • Home Buying46
  • Home Selling18
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Activity 138
Fri Sep 15, 2017
fishmansd asked:
We have cherry tudor paneling in our family room and our realtor suggests we remove it or paint it white. It would lighten the room but flooring and furniture is already light. It can't…
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Sat Sep 9, 2017
Brent Kluge answered:
Hey Katie,

Great question. So I have some advice. Your lender could calculate based on your personal and real circumstances, just about how much you can expect to net from the sale of your current home.

CAN YOU TRANSFER those funds and use them for your down payment? YES - there are a few caveats however. First, your lender will have to qualify you based off the sale of your current residence. Not a problem, but not all lenders will do this. I will.

Second thing to think about is, your offer and contract for purchasing your new home will be CONTINGENT on the sale of your current home. This will make your offer significantly less attractive as compared to another offer, which does not require the sale of a home to qualify. It is done all the time - just know it has to be framed delicately, to ensure the seller is comfortable with this.

I have worked hundreds of these for my clients and it can in fact be done, just takes some strategy. ;)

I hope that answers your question.

If you have any further, feel free to simply reach out to me via the contact information in my profile and I would be delighted to answer anything you'd like to know!

All the best,

b
... more
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Fri Jul 14, 2017
Mary answered:
Hi,

We have closed your Trulia profile on your behalf.

Thank you for using Trulia!

Mary
Consumer Care Advocate
http://www.trulia.com/help/ask/
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Wed Apr 26, 2017
Michael Fabian asked:
Moving from Hawaii on May 3, but furniture & belongings will not arrive for 6-8 weeks. Looking for furnished rental for 2-3 months while we purchase a house.
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Fri Mar 17, 2017
Saeed asked:
Hello everyone,
I'm in the process of buying a townhouse in Columbia. During the inspection, the inspector found out that the sliding door to the deck has fog in between the two layer glasses…
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Tue Feb 14, 2017
E*******q answered:
I have a basement I am interested in renting out for $1000 in Ellicott City near Mc Donanlds on rout 40
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Wed Feb 1, 2017
answered:
Alan is correct, to completely avoid PMI you need 20% down. Traditionally, PMI is paid as an additional amount on top of principal, interest, taxes, and insurance (this is just called "borrower paid MI")... however there are alternative options, such as paying PMI through a higher interest rate instead (called "lender paid MI"), or paying a single PMI premium at closing (simply called "single premium"), or even splitting it up into a smaller monthly amount and a smaller premium amount at closing (called "split MI").

The best type of PMI will depend on your situation, however if you are putting almost close to 20% down, then usually just regular borrower paid MI ends up being the best option. The reason being is that the PMI will drop off as soon as your regularly scheduled payments will bring your loan-to-value to 80% of the value of the home when you obtained the mortgage - which if you are almost putting 20% down, won't be very long.

Feel free to contact me with further questions.

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans.com | 949-322-3616 direct
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Sun Jan 8, 2017
Lucyconnorwins answered:
I live in Mitchellville http://www.drhorton.com/Maryland/Maryland/Mitchellville/Balk-Hill-Village and its wonderful we have 4 kids and they love the schools, and the people are wonderful. ... more
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Thu Sep 29, 2016
Monpetitchou8 asked:
Neighbors said it's safe and hear about occasional hs kid breaking in a car.
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Mon Aug 29, 2016
James.puzon asked:
Your website is showing my house that is not 6265 Hidden Clearing
Columbia, MD 21045. Can you please correct.
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Thu Jul 14, 2016
Zsingh85 asked:
Hi, i signed a contract to purchase a condo in Maryland state. Few days before the closing, i find out from seller's agent that the condo is being auctioned due to seller behind condo fees.…
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Mon May 9, 2016
Jeff Smart asked:
Fri Apr 29, 2016
Rgreszczuk answered:
if the agent is in NJ and the seller and buyer are in Pa and the house for sale is also in Pa. Who is responsible for paying the title company?
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Mon Feb 15, 2016
Diloy Rental asked:
Current lease will end 4/24/16. Tenant agrees to extend by month-to-month lease and for property to go up for sale on 4/1/16.
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Fri Jan 29, 2016
Marc Friedman answered:
Whats wrong with that return? lol
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Fri Jan 22, 2016
Amelia Robinette answered:
for 2015 the avg DOM for Columbia was 111.42 days.
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