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Home Buying in McHenry : Real Estate Advice

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  • Local Info2
  • Home Buying11
  • Home Selling2
  • Market Conditions5

Activity 9
Thu May 19, 2016
Debbie Schweikle asked:
I have been reading that you just need a Title company. Isn't that just for the closing? I still need my lender in the loop, don't I?
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Wed Jun 10, 2015
djennifer009 answered:
It can't hurt to ask. If they've been wiling to lower their list price already, they might be open to the idea. If not, though, it might not be a deal-breaker for the house. Furnace repairs and replacements are common for older houses, and many new homeowner find themselves getting that done. http://mitchellplumbing.com/heating-cooling/furnaces/ ... more
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Tue Nov 18, 2014
Bob Brandt answered:
The policy can be a great help for a covered item. Just read the detailed policy carefully to see which company you want and what is covered. Most insurance is a waste of money until you need it. ... more
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Sun Oct 26, 2014
catalbot56 answered:
I have a single family single level totally remodeled home in Johnsburg school district, peek of water view with full finished basement, new ac and more, Mchenry address and affordable taxes. Open house today 902 Hayden, Mchenry IL. Would consider lease to own, no owner financing. Listed with Berkshire Hathaway Starck Realty out of Crystal Lake. ... more
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Mon Aug 4, 2014
Janice L. Ricci answered:
Hi David,

I am a dedicated and hard working broker that has experience in the VA world. We just went through the VA process for the purchase of our own home. Finding the right lender who KNOWS the process and a broker well versed and knowledgable is highly recommended! If you are still in the market and have not yet found a house to call home, let me know, I would be more than happy and willing to pre-view some homes for you ... I have Veteran references available upon request and if you have any further questions, please do not hesitate to ask.

Thank you for your service!

Blessings,
~ Janice
... more
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Thu May 16, 2013
Gary Geer answered:
Michele,
The first thing you need to do is to get your financing in order. Contact a loan officer of your choice and get pre-approved for a loan. With this information you can contact an agent who can help you find a home that meets your budget and needs. That agent can send you listings everyday for your consideration. When you find a home you are interested in the agent can show it to you and answer any questions you may have. Finally when you select a home the agent will help you prepare your offer and assist you all the way to closing your home. ... more
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Sat Nov 3, 2012
Mary Juhl answered:
Of course Mike and Ron are correct too. Real Estate agents can provide you all the information you need on a property and in addition compare parameters to similar properties. Often times the searches 'your' MLS provides to the public is limited. That is intentional so you will call an agent. Best of luck in your search. ... more
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Sat Nov 3, 2012
Mary Juhl answered:
Ah, but if you were the lender and saw the market improving (increasing the value of their asset (the property)) AND the guideline change to improve your position financially, then you (as the bank) would step back and re-evaluate.Possibly even KEEP the asset on the books for a few years. So, If you want the property bad enuf then 'endurance' is the game. If there are other homes that are interesting to you, I would recommend you ask your agent to find short sales/ REOs that are held by lending institutions that have current reputations of 'being easier to work with'. Best agents know how to research at that level. ... more
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Wed Jun 17, 2009
Barbara Q. answered:
Sjea- Temporary Interest Rate Buydowns are great for first time homebuyers.
You may be able to structure the transaction so that the SELLER funds the Buydown.
The cost for the Seller in this scenario is $3,644.

Purchase Price: $175,000
Down Payment: $6,125.00
Amount Financed: $168,875.00
Monthly Payments:(Principal & Interest ONLY)
Year 1 3.5% Interest rate: $758.33/monthly payment and SAVINGS: $200.52/month
Year 2 4.5% Interest rate: $855.67/monthly payment and SAVINGS: $103.18/month
Year 3+5.5% Interest rate: $958.85

This helps you to ease into homeownership and the lower initial monthly payments allow extra cash for you to furnish your new home.
Good Luck!


Calculate rate & savings:
http://www.321advantage.com/buyers-calculate-your-rate
... more
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