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Home Buying in Michigan : Real Estate Advice

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  • Home Buying459
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Activity 5,823
Yesterday at 7:35pm
Csiamhere110893 answered:
I need some info if anyone knows. So I've run into a snag buying a house with my boyfriend. We are trying to buy a house on a land contract but my boyfriend has judgements so the seller's don't want his name on the land contract because it could cause problems later, possibly. Is there a way for my boyfriend to be a co-signer in the background without being on the title?? Only my name will be on the title, he is just the other source of income. ... more
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Thu Jan 18, 2018
Ashley S Hamilton answered:

What are you trying to do with the property? Is it occupied?
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Thu Jan 18, 2018
Rbailey asked:
I put in an offer on a home a week ago. It was rejected and the listing agent made a counter offer to my agent. I accepted the counter offer expecting there would be paperwork to sign. I…
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Mon Jan 15, 2018
Kathylakritz answered:
Yes this is true. Builders need to make a profit and one method of saving money is by refusing to pay a buyer's realtor / broker. Builders know well that most buyers will visit their development or site by themselves without a realtor. Then that buyer will want to have a realtor for their 2nd and subsequent visits. So it makes perfect business sense for that builder to say "wow, I can save thousands of dollars because most buyers won't have a realtor on their 1st visit, so let's force the buyers to pay for their realtors instead of me."

I know you and every buyer thinks this is not fair, but to a builder it saves them thousands of dollars that they don't have to spend. To get around this, you will need to negotiate and stand firm that you refuse to pay the builders asking price for upgrades and anything else. Negotiate every price down - a lot.

Next - PLEASE do NOT sign the contract if you have not already. Builder contracts are written by lawyers to benefit them. It is NOT the same contract that realtors use which is approved by the state you live in. Typically builders contracts have clauses and terms that benefit them - not you. Spedifically, there is a clause that states "the builder is NOT responsible for any mistakes or changes during the construction period and is not responsible for anything that happens after you close. You are 100% responsible and you need to expect to pay for it.

So before signing the contract, do yourself a huge favor - read EVERY WORD and change or edit anything you don't want. Expect the builder to push back and give you a hard time BUT it's MUCH better for you to know about it before the fact than after you sign it. Once your signature is on the contract, every builder will tell you, "too bad, so sad but you signed it and sorry, but you need to pay for it." By the way, you also have the right to take the contract to your attorney to edit it. Builders hate that and will tell you not to do it because they know once your lawyer gets a hold of it, that builder doesn't want you anymore. These builders are looking for buyers who are easy prey and will sign without asking questions.
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Sat Jan 13, 2018
Jaturner25 asked:
Fri Jan 12, 2018
Jpratt2 asked:
Fri Jan 12, 2018
Bare_it_j240 answered:
I have a lien on my mobile home and I a m in the process of selling it. The company that has the lien never changed the name on the title and its holding up the sale. When asked why the name of the lien holder was never changed thy stated that was my responsibility. How do I get this to end and sell the land and mobile home without dealing with the lien holder any more?? ... more
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Tue Jan 9, 2018
Biggscity313 answered:
We reside in St Helen Michigan and the water is great some of the best water I have ever drink crystal clear
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Sat Jan 6, 2018
no land contract was signed or agree to by me i agreed to pay all owed backtaxes owed b4 i owned it and i paid all back taxes
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Tue Jan 2, 2018
joancdunne asked:
Sun Dec 31, 2017
Zenobia Hood answered:
I can tell you if your down payment is 20% or higher you have a much better chance of achieving your goal.
0 votes 7 answers Share Flag
Sat Dec 30, 2017
Zhenning Zhong answered:
Do I get back my earnest money if I just found out there's a cemetery nearby but the agent never informed?
0 votes 9 answers Share Flag
Sat Dec 30, 2017
Frank S. answered:
Yes you may consider FHA 3.5% down from a minimum 580 fico score. Lower scores between 500-579 may consider 10% down FHA.

If your scores are up to minimum 620 fico score you may consider 3% down conventional. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the purchase.

Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. Check out the web reference link below...
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Thu Dec 28, 2017
Lesliemink answered:
Call your state's Department of Insurance and Real Estate and file a complaint on that agent.

That's not even close to being competent.

DID YOU READ ALL THE CONTRACT ? Or, did you foolishly sign without reading and understanding? When itook the exam, back when dinosaurs roamed the earth, we were taught to be certain every client read the contractm ... more
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Thu Dec 28, 2017
John Meyers answered:
This is one of the most popular questions I get from 1st time home buyers. -- My recommendation is to have him 1099 you and refile if you can. -- Yes, you will need to pay taxes, however, you will get out from under the rental disadvantage of throwing rent money out the window every month. -- In addition, you can write off your mortgage interest expense and a portion of your annual property taxes. ... more
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Fri Dec 22, 2017
Jack Ramone answered:
Hi Emery, have you heard of Hauseit? Where are you looking to buy exactly?

Yes it's certainly possible and legal. Subject to negotiation. I would certainly caution against working with someone who openly discount. There's an active discussion here on how important discretion is when getting a discount:

No point in having the seller know you're getting a better deal :-)
... more
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Tue Dec 19, 2017
Nicholas Cottone answered:
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Mon Dec 18, 2017
Danielle Brittany Robinson answered:
Also it is in a mobile home park. That I signed a 12month lease with for the lot itself (they don't own the home). I have yet to talk to them about seeing how to get out of my lease or if I can transfer to a home they own. (office lady is a nice person) I pay on-time for both and this throws me with the home not being livable, and I get it's not the parks problem. I just want to make sure I can walk away from the home before I go talk to the park manager about anything ... more
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