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Home Buying in Hermitage : Real Estate Advice

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  • Local Info3
  • Home Buying4
  • Home Selling1
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Activity 16
Sun Mar 15, 2015
Susan Anderson asked:
I had assistance thru hud late 90s early 2000 repairing now worse than then leveling floors walls windows roof plumbing no other income to help
0 votes 0 Answers Share Flag
Fri May 16, 2014
Becky Ramos answered:
Thu May 15, 2014
Becky Ramos answered:
I bought my home in Hermitage through a VA loan and I love it. The price is right and you really don't need to buy a townhouse. You just need a large down payment, you need a negotiator. Call me 615-9956322. ... more
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Thu May 15, 2014
Becky Ramos answered:
I have seen some pretty ones in Lakeside Woods Estates right off central pike.
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Sun Sep 15, 2013
Miller Hogan answered:
It depends on the terms of the listing agreement. For example, if the seller has excluded purchasers that the seller finds him/herself from the listing agreement then there should be no problem. If not, the seller will have to pay the full commission. Asking the seller to circumvent his/her listing agreement may cause the seller to breach the listing agreement. You cannot induce the seller to breach his/her contract with the listing agent. You might be liable to the listing agent for inducing a breach of the listing agreement. You should seek legal advice before you proceed. ... more
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Sun Sep 15, 2013
Miller Hogan answered:
Typical closing costs should be $200-250 settlement fee, $75-100 document prep plus title insurance which is calculated based upon the amount of the loan. You should ask for a title insurance quote from your title company. If you have an owner's title insurance policy that you obtained when you purchased your home, ask for a reissue credit. You will need to provide a copy of your owner's title insurance policy and it will need to be less than 10 years old. Reissue credit can save you up to 30% on the title insurance policy for your refinance. There is no transfer tax due on a refinance. That tax only has to be paid when a sale occurs or you record a warranty deed transferring the property. You will, however have to pay an indebtedness tax on the deed of trust (i.e., mortgage). That tax in Tennessee is 11.5 cents per $100 of debt secured by the deed of trust with the first $2,000 of debt being exempt. ... more
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Wed Sep 5, 2012
Rochelle Reding answered:
THDA loans are based on total household income so if your spouse is working, that income would be included. Please see THDA.org and give me a call. I work with the #1 THDA lender in the state.

Rochelle

RochelleReding@ColdwellBanker.com
... more
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Mon May 28, 2012
answered:
Any quesitons regarding Social Security eligibilty are best directed to the Social Security Administration. Only they are qualifed to answer your question.
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Wed Oct 6, 2010
Gerard Dunn answered:
I hope she waited. She could probably get the house this year at $440K.........



Gerry Dunn
Associate Broker
703-216-9100

Serving Maryland, Virginia and Washington, D.C. for 28 years ... more
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Wed Mar 3, 2010
Voices Member answered:
Glasshouse

Here's my advice...Use this site to find a Fed Gov. sponsored Homebuyers Program, many of them will help you learn whats available in your area to help you, make contacts, learn your rights and assist you with paperwork.
Many of these Programs are run by Housing Authorities or non-profits and their goal is to get you into a home..http://www.hud.gov/local/index.cfm?state=tn&topic=homeownership

Example..In my area
"The City's First Time Home Buyer program provides loans of up to $10,000 for low-income first time home buyers to cover a portion of the down payment/closing costs associated with their purchase of a home within the City of Corvallis.

The local Willamette Neighborhood Housing services have built a number of homes for low low income people to purchase and they are the ones who give the Home buying classes (Required if you wish to get the $10,000 from the city.

These classes will also teach you about available options like Rural loans (low low income borrow directly from the Gov.)
Loan Terms
"Direct loans are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent of the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an "effective interest rate" as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. "

The ones here who give the classes also are trained to fill the paperwork out for these loans....

Go thru this, the Fed Gov site that has all the Fed Gov loan programs. You can get specific information, compare options, or take a short questionnaire to determine your eligibility for each program
http://www.govloans.gov/govloans_en.portal?_nfls=false&_nfpb=true&_pageLabel=gbcc_page_browse_loans&action=locateLoans&currentSubType=6

Here's a link to all the Fed Gov. Agencies and the homes they have for sale = what programs/options they offer..check them out.. http://portal.hud.gov/portal/page/portal/HUD/topics/homes_for_sale

Another example
Hud homes in Tn and check out the programs they offer ($100 down)
https://www.bidselect.com/servlet/RouterServlet?p_build_page=PSPropertySearchCriteria&siteid=62519&p_state_listings=TN

The key is being aware you have options, being willing to become informed about them and pursue them.

Going over this Fed Gov. page may be of great help also....http://www.usa.gov/Citizen/Topics/Benefits.shtml

Start at the Beginning

Good Luck
Dunes
... more
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Mon Oct 26, 2009
Marilyn Bell answered:
If you care more about the tax credit than this particular house, you can try to change your financing or try to get out of the contract. Talk to your lender to see if you can switch to another loan program. There are some conventional programs that let you put as little as $1,000 down. If your current lender can't help you, let me know and I can give you some referrals.

If you want to get the tax credit, and want to stick with the FHA program, then does your contract specify a closing date? What about any contingencies in the contract? Go over your contract thoroughly and see if you can get out and get your earnest money back. If there's no out in your contract, be honest with the seller and tell them you want to walk away. They may understand. The broker or title company holding your earnest money may return all or a portion of it to you. If not, your earnest money is probably less than $8,000 so you could just give it up and rush to find something else - and to go FHA you need to have a contract yesterday, but tomorrow could work since you've already gotten the loan process started. Don't trip over dollars to get dimes, you know?
... more
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Tue Oct 6, 2009
Megan Manly answered:
All buyer representation agreements are different. Keep in mind a buyer's rep agreement is with the agent's broker and then they designate the agent to be your agent. In most agreements, it says something to effect that the broker reserves the right to assign you another buyer's agent.

Contact the listing office and ask for the managing broker. Ask for a meeting or a phone conference and have your reasons clear for the need for change. I know my broker would be mortified if a buyer was unhappy with his/her agent and quickly reassign on of her best to the frustrated buyer.
... more
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Tue Nov 4, 2008
Vwforyou answered:
How much have comparable properties sold for within the last 3 months? What they purchased it for 4 years ago has no bearing on the market today. The downside would be that they didn't put much money down and have a large mortgage which may give them less flexibility on what they might accept as an offer. 4 years ago life was good for the builders and real estate agents as property values were inflated to take advantage of the sellers market. Swing for the fences and make a low offer, the worst they can do is say no and provide a counter offer. The market value is dictated by what a buyer is willing to pay and a seller is willing to sell their home for. Here is a great website for mortgage rate information, http://www.bankrate.com/brm/updates/ybir/ybir_state.asp?prodInit=M&produid=4

Good luck!!
... more
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Tue Oct 2, 2007
Kevin Pellatiro answered:
You might also look into this condo http://listings.realtracs.com/BuyerFull.aspx?EmailID=14965882
It has a number of upgrades, and is move in ready. If you have any questions, let me know how I can help.

Kindest regards,

Kevin Pellatiro
(615)714-7918
kevin@condurelisgroup.com

Your Home. Your Investment. My Job.
---
Keller Williams Realty
... more
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