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48220 : Real Estate Advice

  • All19
  • Local Info0
  • Home Buying13
  • Home Selling1
  • Market Conditions0

Activity 17
Mon Nov 7, 2016
Tony Grech answered:
I do a lot of new construction- especially in Michigan - and it is very common for the builder to pass along the owner's title policy costs to the buyer. In fact, I think most of the time that is the standard operating procedure.
However, everything is negotiable so you can certainly ask and the worst they could say is no.

If you need any assistance with a mortgage please feel free to give me a call.

thanks!
Tony
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0 votes 1 answer Share Flag
Tue Jul 2, 2013
Aaron B. Lewis answered:
WOW some of the advise on here is priceless... CALL AN ATTORNEY, really.

BEFORE YOU CALL an Expensive Lawyer read this...
http://www.legislature.mi.gov/documents/publications/tenantlandlord.pdf

Before calling an attorney (usually they want an upfront fee) visit link below and get legal insurance and consult with an attorney for free. (I use them for all me real estate dealings FREE consult)
http://bit.ly/1632VIc

My EXPERT ADVISE...

Don't call a real estate lawyer first (save a lot of money and do one of the following)
1. if you have paid for foundation repairs deduct from rent with letter and receipt to landlord (per landlord tenant guide)
2. depending how delinquent taxes are...do nothing. CALL ME FOR more details.
3.get legal insurance and consult with a RE Attrny for free
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0 votes 5 answers Share Flag
Wed Nov 21, 2012
Derek Werenka answered:
Hi Jeremy. The requirements are the buyer has to make less than 37k per year and must have a credit score of at least 620. Both properties are still available at this time. Let me know if you want to take a look at them or any other homes in the area.

Thanks,

Derek Werenka
Associate Broker
JCIREO
248-561-6155
dwerenka@jcireo.com
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0 votes 1 answer Share Flag
Mon Aug 16, 2010
Michael Warren answered:
Hi Jim

i would keep your options open, you never know when the right house will appear on the market.
Interest rates are currently low and Private mortgage Insurance for FHA loans may be increasing soon (currently being delayed). Also, sometimes banks want to close on properties before the end of the year (potential deals) to get them off their books. Best of luck in finding your future house.

Sincerely,

Mike Warren, CDPE, SFR
Keller Williams Realty
734-634-5868
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0 votes 5 answers Share Flag
Wed May 26, 2010
Pam Bava answered:
Hi Lulu, I just happened to be on the HUD website, there are a few homes in the Ferndale area. I can check foreclosures also.


Pam Bava, Realtor
www.homesalesbypam.com
Real Living Kee Realty
586-840-0400
realteellc@hotmail.com
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0 votes 4 answers Share Flag
Tue Feb 2, 2010
Don Tepper answered:
Question: I'm curious; why are you asking? I posted a question along those lines at http://www.trulia.com/voices/answer/Foreclosure/Foreclosure_Cleanouts_Why_The_Big_Interest_-196047 and I'd really appreciate your response.

Thanks.
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0 votes 2 answers Share Flag
Wed Jan 20, 2010
Kris Wales answered:
Don't let the low purchase price scare you. There are many credit unions and banks that will loan for that amount, especially in Michigan. When you get answers to your questions please look for the "Michigan" agents responses. Other states may vary in their customs and norms. ... more
1 vote 6 answers Share Flag
Fri Nov 13, 2009
Derek Bauer answered:
Nice guy,

If you would like a market report for that zip code, email me at Derek@DoorToDreams.com, or connect through my Trulia profile. You really should be advised and guided by a buyer's agent who represents you, if you have not already secured one! I would be happy to speak with you further about that.

Until I hear from you, here is a quick snapshot of the area...
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0 votes 2 answers Share Flag
Wed Oct 28, 2009
CCC answered:
WOW, and your question showed up at Michigan. Diferrent states, different laws, better check with some one in Florida. In Minnesota, Husband is owner of property owned by wife before married. ... more
0 votes 2 answers Share Flag
Sun Oct 25, 2009
Derek Bauer answered:
Randy,

Have you received a notification of the foreclosure sale? Once that sale occurs, it will likely be about 6 months from that date.

Pay attention to what is being posted on the property, and call the contacts in those postings to ask questions. ... more
0 votes 1 answer Share Flag
Fri Oct 9, 2009
Cicely Brookover answered:
"About to be foreclosed on"?? Do you mean it is about to be sold by Sheriff's Deed? You will have 6mo typically after the Sale to stay in the home unless the owner makes other arrangements with the bank. If you mean the 6 mos are up, you may still have some rights to stay IF you have a written lease. If you have a written lease, check with an attorney about your rights. If you have no written lease and the redemption period is coming to an end, be prepared to move. Again an attorney can give you the best opinion on this. ... more
0 votes 1 answer Share Flag
Tue May 12, 2009
Tony Grech answered:
If it is a standard FHA loan (not a 203k rehabilitation loan) then you could expect 4.75%-5.5% depending on the loan amount and if you are paying points or not. A 203k loan could be 1/2-1% higher

Like the others said, check with 2 or 3 reputable, local lenders to get an idea of what you qualify for
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0 votes 5 answers Share Flag
Wed May 6, 2009
Pamelajain answered:
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage,"" says the HUD website. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. Additionally, the borrower must purchase the home through the regional HUD office, which must be offering the $100 down only incentive.

Additionally, buyers may pay more than the home is worth if there is a bidding war for the home, says Bakke. If the bidding price exceeds the home's value, the buyer will have to come up with the difference between the sale price and HUD's appraised value on their own, he says. Bakke adds that the FHA arranges for an appraisal, so homebuyers don't need to get one on their own.

So if the [HUD] appraised value of the property is $100,000, but the winning bid is $115,000, then the buyer must bring the $100 plus the $15,000.

Web Reference: http://fhamortgageinfo.com/
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3 votes 7 answers Share Flag
Mon Apr 13, 2009
smith3gary answered:
MI,

Along with ASHI.com you may also try http://www.nachi.org/ not sure which is better, but both sites contain certified inspectors for Michigan. As suggested, ask lots of questions. ... more
0 votes 5 answers Share Flag
Thu Feb 19, 2009
Maureen Francis & Dmitry Koublitsky answered:
0 votes 4 answers Share Flag
Mon Jun 9, 2008
Devinsdad answered:
Im a buyer as well. As to not be confused with the pros. I just wanted to add a couple that may save you time. Ask your realtor rather they have any work relationships that will make things smoother and faster. I have found that the realty people are a community of sorts. And that if they do not know anyone you will suffer. ... more
0 votes 14 answers Share Flag
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