Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Loganville : Real Estate Advice

  • All146
  • Local Info12
  • Home Buying30
  • Home Selling5
  • Market Conditions4

Activity 6
Fri Dec 2, 2016
Kathy Burgreen answered:
No. Besides paying for the mortgage, property taxes and homeowners insurance, you will need cash to pay for maintenance. Things do break or don't work and you need cash to fix it. Spend time talking to some local contractors and ask them how much different items cost. Examples: water heater, roof, bug infestation, plumbing repairs, etc. ... more
0 votes 2 answers Share Flag
Fri Mar 15, 2013
answered:
I can't imagine having an employee of my bank not care that the money I'm going invest in a house has water pipes that could break at any time completely flooding the house. It can happen before you start the project. I have to question the integrity of the loan officer. I know no one cares about that stuff anymore...
But the issue is now a little harrier than before. You know the pipes are bad, the loan officer knows and I'm hoping the Realtor doesn't know.

The appraiser has always had to check these type of pipes since the issue of polybutylene became a problem. He/She can lose the license to appraise if this information is not discovered (assuming there is a leak) because these pipes significantly reduce the value of the property.

From propex.com:

There are currently no laws specifically regarding the disclosure of poly piping on a property, but some property brokers have been sued for not disclosing the presence of polybutylene piping in buildings they sell. Real Estate brokers selling homes containing poly piping should be prepared to be held liable if buyers have a non-disclosure complaint. At the very least, both sellers buyers should be provided with some sort of information regarding poly piping and its dangers, and sellers should be given the opportunity to replace their piping before putting their home on the market.
... more
1 vote 6 answers Share Flag
Fri Mar 15, 2013
answered:
Hi Gina:

I've worked with KC and she is very good at her craft and very nice. The best thing to do first is go to www.annualcreditreport.com and obtain a copy of your credit report from all 3 bureaus. You need to make sure there is absolutely nothing on the report (no collections, medical collections etc.).

If you do, then I can recommend to you a company that will clean the report for you. The company is FTC approved and approved by the BBB. The cost is less than $600 (paid in installments) and is owned by an Attorney.
... more
0 votes 3 answers Share Flag
Wed Sep 26, 2012
nativerealestateanddev answered:
Mon Mar 15, 2010
Lee Taylor answered:
What's up with Francesca's answer - wow...

Alvi - Call Wade Munday, "Atlanta's Hard Money Lender" at PeachStone Capital.

Check the web reference for a link to his FAQ's - he makes hard money lending very easy to understand.

And Franscesca, get real - Robert Schiller stated in a Newsweek article on 12/30/09 that "my data show that between 1890 and 1990 real home prices actually didn't increase."

Real estate values follow inflation, unless bubbled by funny money...check out the article from one of today's leading real estate thinkers...

http://www.newsweek.com/id/225624
... more
0 votes 3 answers Share Flag
Mon Dec 22, 2008
answered:
I'm not sure what exactly was wrong with that property but as long as the foundation was intact and the structure of the building was sound, it's financable.

I'm a Renovation Specialist (My focus is on rehab lending) with Wells Fargo. This is a complex program and you're going to want someone who specializes in this type of financing.

I've wrote numerous posts on Renovation Financing and have done many loans for Trulia users. Please read some of these past posts I've made. You should be able to find the information you're seeking. Feel free to contact me.

http://www.trulia.com/voices/Financing/I_have_recently_inqui…
http://www.trulia.com/voices/Financing/FHA_K_Rehab_loan_in_G…
http://www.trulia.com/voices/Financing/How_is_the_loan_amoun…
http://www.trulia.com/voices/Foreclosure/Foreclosure_is_bein…

Rob Weber
Wells Fargo
511 W North Ave
Chicago, IL 60611
847.404.7006 - cell
rob.weber@wellsfargo.com
... more
1 vote 1 answer Share Flag
Search Advice
Search
Financing in Loganville Zip Codes

Followers

145