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Home Buying in New Hamburg : Real Estate Advice

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Activity 14
Thu Nov 19, 2015
Darrell D. Drouillard answered:
First, as a former Army soldier, thank you for your service!! The short answer is yes you can.

The longer answer is that if you were honorably discharged and have a credit score that qualifies (good rule of thumb is 620 or greater though there are exceptions) you would probably be qualified for a VA loan. A VA loan is a $0.00 down payment loan. If you link up with a local real estate agent that is a veteran or has VA experience, they can guide you to a VA lender and guide you through the rest of the process.

The ideal scenario is to put no money down and find a home where you negotiate for closing cost assistance from the seller so that you basically buy the home for no money at closing. It is a benefit we have for putting our life on the line for our country. Good luck and God Speed!!
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Mon May 25, 2015
Rosaura Cortes asked:
Fri Dec 6, 2013
Jessica Bateman answered:
If you can refi now you should speak to a lender or broker that works with lower scores. Check out The Lenders Network they specialize in helping people with poor credit..

Good Luck! ... more
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Tue Jul 30, 2013
Jessica Bateman answered:
You can get an FHA loan with under a 640 middle score with some lending institutions but not many. FHA actually has a minimum FICO score requirement of 580. I would recommend finding a broker or service to help you locate a reputable lender that can approve your loan at a decent rate. I have client's who have got approved and received a good rate at The Lenders Network with FHA and VA home loans. If anyone can find you a loan they can.

Good luck
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Mon Jul 30, 2012
Anita & Lawrence Drake answered:
You will need to check with the local municipality as to the requirements to convert the basement into an income apartment, Your in laws will need permits and inspections for a co, If the apartment is legal and to code it could be a desirable asset to the property. Rents are in demand in the area. The cost of the renovation vs the potential rent would be the determining factor as to whether a rental unitl would be wise A licensed professional realtor could advise you of the current rental prices and market needs in your area. Good luck to your in laws. ... more
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Sun Jul 29, 2012
allan erps,ABR,SFR answered:
It is propbably in your sons best interest to refer you to an experience Agent/Realtor® in that area as they have access to the MLS service in that County and he does not. Best of Luck, Allan ... more
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Fri May 28, 2010
Tammy Benkwitt answered:
In addition to the good advice given below:

Once you and your agent have found a parcel you desire, I would recommend making your offer subject to board of health approval and building permits.

Of course, you are going to do your homework in advance and talk informally with the building department before making an offer. But to ensure you are not stuck with a property you cannot build upon to your satisfaction, making the offer subject to those terms is a reasonable way to go and not uncommon.

The risk to you is that you will be laying out the cash and time to obtain BOHA and drawings, etc.... But that will pale in comparison to losing it all if the land cannot be built upon.

There are some tell tale signs of a poor lot. One example is a steep slope. Many towns have rules about building on steep slopes. It's not impossible, but can be very costly to you. It may be a cheap sales price, but you will make up for it in the amount of excavation and infrastruture work involved. It's also generally not desirable for re-sale.

So go find an experienced buyers agent and start building your dream home! Good luck!
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Mon Apr 26, 2010
Patdutchess answered:
Anna, I'm dealing with a realtor that works for the realty listing the house. She's not the listing agent, but works in the same office. So, I don't consider her to be a buy's realtor. I take anything she says with a grain of salt. She told me to offer $475k and hope for $485k. That's just nuts. Do you recommend any specific companies for comps?

Don, you have some excellent points. I will try to get a hint if they had a reasonable down payment. I'm looking to put 40% down so I won't have a problem getting a mortgage, but I don't want to be on the losing side on day 1. The only reason why I thought $460k was still fair was because they did put some money into the house a few years back (stainless steel appliances, stone walkway, etc.).
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Tue Sep 15, 2009
Leonard Klein SFR,ABR, e-Pro answered:
Jackie,
There is no way to predict which approach will work better for you. What I can tell you is, if you are interested in a particular home and you think it's priced too high (and it's been on the market for at least 3 weeks), my best recommendation to you is to make an offer that you think makes sense to you. Get it in. If you wait for them to drop the price, someone else may make an offer and beat you to the punch. If you make YOUR offer, the seller can choose to negotiate with you or not but, if they stay on the market and get no other offers, they just migh come back to you down the road. Always make an offer if you wish to make a purchase. Just make the offer that YOU want...
Lenny
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Tue Mar 31, 2009
Janine Bowen answered:
Clearly five days later I'm not one of them. I'm wondering if you are reading here because you are a potential buyer or seller? If you are I'd like to show you my new BLACKBERRY BOLD (I LOVE This thing!!) that will allow me to answer questions anywhere I have a free moment. This PDA is Awesome! I had a Treo 650 but this blows it out of the water. Just had to share. Back to my Blackberry. But if you are a potential buyer or seller call me. I will show you how the latest technology can help you buy a new home or sell your existing one. Your future agent - Janine ... more
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