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Home Buying in Eagle Creek : Real Estate Advice

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Activity 12
Sat Jun 11, 2016
Scott Godzyk answered:
You should have put in your initial offer that the seller turn the water on or had it done before inspecting. I would not have had the inspection done without water on. If you closed, it is your responsibility, if you have not closed, you can ask the seller, but if a bank it is probably as is. ... more
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Tue Oct 20, 2015
Dan Tabit answered:

Rent to owns are rare and even more rarely are they a good deal for the renter/buyer. The vast majority of rent to own renter/buyer's never end up buying the house. They are a great deal for the landlord/Seller as they get to collect large up front deposits and over market rent only to do it all over again in the same house. I consider it basically immoral and predatory in most cases.

Resolving credit issues isn't rocket science and a local mortgage lender can and often do assist buyers with this. Many things you can do yourself, others the lender can direct or assist you with.

Most people in this position are far better off renting the least expensive place they can stand to live in and save up some down payment, get on a budget and fix their credit. Once you are qualified, you can select any listed property in your price range and you've fixed the issues that hurt your credit.

If you just buy when you are qualified, no one can exclude you due to your past.
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Thu Apr 10, 2014
Cullen Wainscott answered:
The first step you should take prior to looking for an agent is to get a Pre-Approval from your lender of choice. The reason the pre-approval letter is critical is because the real estate market is very tight right now across the country, meaning the inventory of homes on the market is low. The best homes sell very quickly and if you don't have your pre-approval when you find your dream home you could could miss out on it all together because Homeowners typically will not even look at an offer with out a pre-approval letter. A pre-approval can sometimes be completed over the phone in as little as 10-20 minutes, but in some cases a more in depth pre-approval can take 2-3 days. Keep in mind that 1/3 of all real estate transactions fall apart because of financing issues so a more in depth pre-approval can be a good thing.

Once that step has been completed your ready to find an agent. There are many different ways to go about, you can use Trulia's "Find an Agent", you can check with your local board of Realtors, but often times most people find there agent by talking with friends and family. The most important thing is you want an agent that is ethical, trustworthy, and someone that you are compatible with and can work with. You will be going on showings with this this person so you want to feel comfortable being honest about your thought and feelings about the homes you are seeing, this will help them to help you. If all else fails I can refer you to an agent in your area that can help, please give me a call or text at 859-496-7446 if I can help.
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Wed Apr 9, 2014
Stan Tobiason answered:
It's a home that is for sale from the government. It this case it was once owned by someone with an FHA loan and the government took it back. You can get some great deals on the HUD properties.

Good luck!
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Fri Nov 22, 2013
Joe Shoemaker answered:

Great question. This scenario is one of the more difficult parts of the real estate business. It occurs whether one is moving across country or across town.

"How do I buy a new house when the funds needed for that purchase are tied up in a house I'm trying to sell?"

There's no easy answer, but it's very doable.

Some people choose to sell their existing home first and move into a short-term rental until they can find the perfect next house.

Others choose to have the closing of their existing home extended out for a period which would permit them to find their new place and get it under contract. Then we'd schedule the closings to happen back-to-back. Or, in the case of being out of town, perhaps the closing on the New York co-op happens on Wednesday afternoon, and the Indiana closing happens the following day after you've flown in.

There are lots of ways to accomplish this task, and I'd be pleased to talk with you more in depth at your convenience.

Good luck!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501!/jojosmojo
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Thu Oct 24, 2013
Brian Nguyen answered:
Have you considered what you will do when it comes to financing for you new home? Before you start looking for homes I strongly recommend you get pre-approved. This is important because it gives you an idea of the price range you can afford. Also, offers from individuals with pre-approvals are taken much more seriously. I am a lender based out of California and I have done plenty of loans throughout the state. I would be glad to speak with you to help you get the loan you need so feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 ... more
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Mon Jun 17, 2013
stephen webber answered:
Hi Darcia

Yes it is possible.
I worked exclusively with home buyers for 34 years and I have seen hundreds of situations when the people gathered information, established what needed to be accomplished, set a time line and accomplished their goal much sooner than anyone predicted.

One issue that continually occurred was when people consulted an experienced loan officer about their credit and found the credit was better then they thought. Many silly little things like the reporting agencies not dropping off a negative when they should have or the agency could not properly support an issue and so had to remove it.

Once you are sure what the credit is and if it is not good enough the loan officer can help you establish a plan that will improve the credit and often predict when that will be so you are able to start the search and purchase process sooner.

A couple of articles that will serve you well on Your Road Article #5 and #5A about credit and #16 Consultation Interviewing Loan Officers. You also find the supporting articles helpful. The articles are numbered and if you read them in the numbered order you will become one savvy home buyer. So gather up all of the objective information you can find.

Trulia is also a good source of information and when you are ready to interview loan officers and real estate agents you will find them from your area offering their services on Trulia.

Best of Luck, Stephen Webber Retired After 34 Years of Real Estate For First Time Home Buyers
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Tue Feb 12, 2013
Tiff Atkinson answered:

Contact INHP (Indiana Housing Partner) I believe they work with clients whose credit score is in my mid 500s. Please contact me, if you would like my personal contact there.

Thank you,

Tiff Atkinson, NAREB
Carpenter Realtors
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Thu Jul 29, 2010
David Dorfman answered:
Cash buyer - sure.

A bank or lender would want to see that you have the monies to close on the property. In addition, since it's a fixer - you will need to show how you will have the funds to fix it and make it habitable. If bad shape, the best you might get is a construction loan.

You will also need to know what it REALLY takes to get the home habitable - not just paint.

If you don't know anything about doing repairs - get estimates from a qualified contractor. Not just a home inspection.

And if a realtor tells you it should only cost "not much" - get some real advice from a qualified contractor. Not all realtors no a thing about construction.
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Mon Dec 29, 2008
Colleen Gordon answered:
I am familiar with this side of town and it is a nice place for the money. There have not been a lot sell in there in the last year, but as long as you buy it right I think you will be happy. It is in a very convenient location. ... more
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Mon Oct 27, 2008
Jody Jones answered:
You need to give us a link to whatever home you are interested in. However, there are LOTS of decent homes at very reasonable prices all over this country right now, so find an agent ready to help you and start visiting some in person.

I also tell my new clients to make a list of Must Haves, Must NOT Haves and Would Like to Have, but if not, its not a deal-breaker. That will help the agent save you time and gas money seeing things that don't really interest or appeal to you. Finally, are you pre-qualified for a certain $ amount to buy? It does no good if you or the agent finds the best home in the whole world, if you aren't able to buy it, so find a banker or a mortgage broker and in about 30min or less conversation on the phone, they can tell y ou a dollar amount that you could qualify for on a loan.

I wish you lived closer to me, I would be happy to help!
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