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Home Buying in Haughton : Real Estate Advice

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  • Home Selling1
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Activity 4
Sun Jan 18, 2015
USMortgageRanger answered:
Yes you can buy a home anywhere that you desire in either area, keeping in mind that in both cities as Lender we will require you to purchase flood insurance. So before you purchase any home check the flood insurance cost. I would suggest you get APPROVED not just pre-qualified. Let me explain the difference. When you start shopping for a home, most Agents and Builders want you to get pre-qualified, before they spend any time with you. However, being pre-qualified doesn't mean you are ready to buy. In this market, property is moving faster than ever. So if you are ready to buy, you should get APPROVED by a competent Lender. Approval is similar to having cash in your pocket and this tells the seller you are truly ready to buy. In fact many listing Agents and Builder won’t even look at your offer unless its attached to a real pre-approval with FHA, Fannie Mae, Freddie Mac, VA or USDA Approval.


As an FDIC bank that make loan nationwide we are here to help you make the best decision for your family based on sound responsible, knowledgeable financial guidance. My Office hours are from 08:00 AM-07:00 PM Mon-Fri & Sat 10:00 AM – 06:00 PM CST. I look forward to talking with you.

Lowell E. Sterling
Mortgage Banker
NMLS# 968898
The Federal Savings Bank
Direct: 512-717-0403
Mobile: 469-347-3572
https://www.thefederalsavingsbank.com/LowellSterling
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0 votes 1 answer Share Flag
Sat Jul 20, 2013
Carolyn and Cliff Grimsley answered:
Sounds like an interesting set of circumstances.

Several points:
You said your realtor was working for the seller too. That in and of itself is not unusual and is a completely appropriate situation, provided all of the necessary disclosures are signed. There are disclosure documents that must be signed by the buyer, seller, and agent. The basic notion is to make sure everyone understands, and agrees on who represents who. This is required to be done at the time substantive contact is made between the agent and the buyer or seller. The broker is required to keep such documents on file for a period of 5 years.

Regarding your being informed of the fair market value, when a buyer makes an offer to purchase a property, the buyer decides on a price to offer. The role of the agent is to provide advice and information about the market. There is no way for an agent to know “fair market value”. A realtor is not an appraiser.

Regarding repair problems with the property, some buyers like short sales and foreclosures. They can get a bargain. The fact that there are problems is normal. The question is does it change the value proposition for the buyer. Always have a home inspection by a licensed inspector. If the offer to purchase were done correctly, there would be a provision for the buyer to exit the transaction during an inspection period if there were too many problems. It would be unlikely that a bank would make any repairs.

Regarding property condition disclosures, for bank owned property they never lived in the property. So a property disclosure document is not particularly helpful.

The notion that the property is “definitely worth …” would not be appropriate for a real estate professional to tell a client. The following is appropriate: here are houses that sold and information about those houses; here are houses on the market and information about those houses; here are economics forces in the area; here is a view of past buyer behavior. This is a complicated process and it is unfortunate that buyers (and sellers) sometimes hear words that imply a degree of certainty that does not exist.

Can you get out? That depends on where you are in the time line in the contract. If the inspection clause is in the contract and you are within that period a buyer normally can exit. Banks frequently have lengthy addendums to contracts that have all sorts of provisions. I suggest you consult your attorney.

Good luck.

If you would like specifics, go to www.Zip711.com and click the Trulia menu tab.

I am a real estate professional and I help clients buy and sell real estate in the Shreveport/Bossier area. I interview prospective buyers and sellers on a regular basis. I would be glad to speak with you about opportunities in our area.

Carolyn Grimsley, CRS, ABR
Certified Residential Specialist, Accredited Buyer’s Representative
Licensed by Louisiana Real Estate Commission

Realty Executives SB
In Bossier, 4012 Benton Rd suite 110
In Shreveport, 8575 Fern Avenue Suite 105
Each company independently owned and operated
www.Zip711.com
... more
0 votes 2 answers Share Flag
Sat Jul 20, 2013
Carolyn and Cliff Grimsley answered:
To sell or to Lease? The answer starts with you family financial plan and investment goals.

Most people will sell, many of those that lease do so because they cannot sell at a price they believe is fair. If you do not have a family financial plan or investment goals, start there. Owning income producing real estate has a lot of advantages, and a lot of risks. You need to understand the various moving parts to make an intelligent choice.

I am a real estate professional, not a financial professional. So my perspective is from the receiving end of financial planning advice, not the giving end. However I help clients every day with a wide range of different financial situations and I see the practical implications of what families deal with in making a decision about to lease or to sell a home.

The decision depends on a lot of details, and specifics matter. If you would like specifics, go to www.Zip711.com and click the Trulia menu tab.

I am a real estate professional and I help clients buy and sell real estate in the Shreveport/Bossier area. I interview prospective buyers and sellers on a regular basis. I would be glad to speak with you about opportunities in our area.

Carolyn Grimsley, CRS, ABR
Certified Residential Specialist, Accredited Buyer’s Representative
Licensed by Louisiana Real Estate Commission

Realty Executives SB
In Bossier, 4012 Benton Rd suite 110
In Shreveport, 8575 Fern Avenue Suite 105
Each company independently owned and operated
www.Zip711.com
... more
0 votes 2 answers Share Flag
Sun Nov 11, 2007
Pam Winterbauer answered:
Lease options are not always best as someone looses when you determine your purchase price upfront for some date in the future.

I would recommend a purchase.
0 votes 7 answers Share Flag
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