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Home Buying in Lawrence : Real Estate Advice

  • All72
  • Local Info3
  • Home Buying12
  • Home Selling1
  • Market Conditions4

Activity 32
Richard Shap…, Other/Just Looking in Framingham, MA
Thu Jul 31, 2014
Richard Shapiro answered:
I am a Mass licensed Mortgage Broker and Loan Officer. You can most certainly get preapproved subject to funds to close. If you contact me through my profile I can discuss other alternative programs that may qualify you right now. Either way a pre-approval with us is at no cost or obligation. ... more
0 votes 8 answers Share Flag
mags0602, Home Buyer in Lawrence, MA
Tue Jul 22, 2014
mags0602 asked:
My family have outgrown the side we live in. We are thinking on buying a single-family home and keep the dupplex as a rental, which it will pay its own mortgage.
0 votes 0 Answers Share Flag
Anthony Piem…, Real Estate Pro in Boston, MA
Sun Jul 13, 2014
Anthony Piemonte answered:
Are you in the process of buying a condo? If so have your buyers agent ask the listing agent for the Condo By laws, this should be relatively easy for the listing agent to get for you.
0 votes 3 answers Share Flag
Richard Shap…, Other/Just Looking in Framingham, MA
Mon Jun 23, 2014
Richard Shapiro answered:
We have a program called credit expert. Apply for a pre-approval (no cost or obligation), we will run credit and have your credit analyzed to see what steps are needed to improve your score. You might find that your fears are unfounded and you have high enough scores to do something asap. ... more
0 votes 2 answers Share Flag
George Silva, Real Estate Pro in Lawrence, MA
Sat Feb 1, 2014
George Silva answered:
Home auctions differ from regular home sale purchases

Bidder needs to bring the stated amount of money required to bid on the home

Winning bidder will have 30 days to close on the home or they will automatically looses their deposit

In most cases you will not have access to the property's interior to inspect its condition
... more
0 votes 5 answers Share Flag
Richard Shap…, Other/Just Looking in Framingham, MA
Sun Nov 17, 2013
Richard Shapiro answered:
You buy at your own risk. You can research the tax and title issues your self, or you can hire an attorney to do this for you. If you've never purchased a home in auction before I would highly recommend not doing so. ... more
0 votes 3 answers Share Flag
Christine Mo…, Real Estate Pro in Wilbraham, MA
Wed Jun 19, 2013
Christine Moran Realtor & Notary answered:
Fees usually include Master Insurance,Security,Swimming Pool,Laundry Facilities,Exterior Maintenance,Road Maintenance,Landscaping,Snow Removal,Playground,Recreational Facilities,Exercise Room,Clubroom,Extra Storage.

You would need to check prior to purchase what the current fees are.
... more
0 votes 1 answer Share Flag
Jim Driscoll,  in Lynnfield, MA
Thu Apr 4, 2013
Jim Driscoll answered:
The apr seems high as compared to the rate. Normally the appraisals are not transferable unless the loan is a govt FHA or VA loan
1 vote 2 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Wed Apr 3, 2013
Heath Coker answered:
You should be able to find comps in Lawrence that have 7 bedrooms and 3 baths vs 3.5 baths.
That should point you in the right direction.


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2 votes 5 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Wed Apr 3, 2013
Heath Coker answered:
Hi Hector,
You can search the internet for info about a Tax Abatement.
This is what a reduction in the tax bill is called.
You have to go through specific steps with specific time constraints in order to be successful.
The current owner may be beyond the time allowed for them to request an abatement for the current tax assessment.
It may have to happen with the new owner.


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0 votes 4 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Wed Apr 3, 2013
Heath Coker answered:
I have had deals go both ways - to closing and into oblivion.
The factors are: the amount of difference in the value of the appraisal and the agreement.
The amount that the buyer truly wants to own the property.
The uniqueness of the property.
The ability of the seller and or buyer to absorb the difference.
If the fixes needed are cosmetic, dangerous, optional, mandatory, etc.


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1 vote 3 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Wed Apr 3, 2013
Heath Coker answered:
I usually suggest getting a credit equal to the estimates for the repairs and then the buyer can have the work done and also have the warranty.


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Josh Barnett, Real Estate Pro in Chandler, OK
Thu Mar 21, 2013
Josh Barnett answered:
Sounds like you have found a problematic tenant, next property or get in, buy it, and evict.
0 votes 8 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Wed Mar 20, 2013
Heath Coker answered:
Hi hector h,
My experience says:
If this is for an existing loan, you need to have the equity and be able to prove it with an appraisal.
If it is for a new loan, you still need the equity, or a special program that allows for "extra" loans that are usually subordinate to the first.

I would contact a local lending professional to help with this answer and to save time and money.

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0 votes 12 answers Share Flag
Sarah Goulart…, Real Estate Pro in Plymouth, MA
Sun Mar 17, 2013
Sarah Goulart Nathe answered:
I think Manuel is saying that the home was on the market six months ago but is no longer on.

Manuel, if so, then certainly call them to see if they would entertain an offer. Find a buyers agent or attorney to represent you. ... more
0 votes 4 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Sun Sep 23, 2012
Heath Coker answered:
That depends on the buyer's credit, income, and other factors like the property condition, per cent of owner occupants, etc.

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Heath Coker, Real Estate Pro in Falmouth, MA
Thu Sep 20, 2012
Heath Coker answered:
This is best answered by a local lender. They have some flexibility the national lenders may not. Also your other credit info will have an effect and the value of the property you want to buy.

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Heath Coker, Real Estate Pro in Falmouth, MA
Sat Jun 2, 2012
Heath Coker answered:
Plumbers are the ones to estimate this.
They will ask the size of the system, the age of the system, what the components are, etc.
They will probably want to know where the house is.

Try asking the one who winterized it.

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