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Home Buying in Pawtucket : Real Estate Advice

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  • Local Info2
  • Home Buying11
  • Home Selling1
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Activity 11
Thu May 11, 2017
Lisac1201 asked:
I bought a house with an FHA loan 6 months ago and hate it. It was to downsize so it seemed like a good idea. It was fully renovated. With the market like it is where there's not much…
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Thu May 29, 2014
Byron Hebert answered:
There is no way to answer this question without more details. The price is dependent on location, age, size, condition, and features. A local Realtor would be the best person to ask about the property or properties you are considering.

Generally speaking a good price would be one that allows for your to renovate and repair the home and still have equity in the home. Meaning your cost to purchase plus repairs is less than the market value of similar homes that are selling.
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Wed Apr 16, 2014
James Ferguson answered:
When it comes Tax Deductions and what can and can not be claimed, it is always best to Consult your Accountant. They are experts in the field and know exactly what options you have based on your situation and location.

James Ferguson Re/Max Professionals
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Tue Dec 17, 2013
John Repoza answered:
unfortunately Josh if your lender is require it you don't have a choice.
It's the golden rule they have the gold they make the rules. If you are putting less than
20% for a conventional loan PMI is required the only way to challenge it is if the appraised
value show you have more than 20% equity.
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Mon Oct 8, 2012
Alexander Bravo answered:
Sure, that depends on the property you are considering to buy, for example you can buy HUD property as a primary residence with only $100 down.
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Thu Aug 9, 2012
Debra (Debbie) Rose answered:
Nicely stated Joe!

And, I think the point that needs to be emphasized is.......short sales aren't always the bargains many consumers think or assume they are.
Very often the buyer winds up paying fair market value ....after a long wait.........

I had a buyer wait 5 months only to have the bank come back with a counter offer OVER the initial list price......it made no sense, but then, a lot of things the banks do dont make sense..
The buyer walked away, and a year later, the house, still sitting empty, was put back on the market , still as a short sale - at a much lower list price than the bank turned down the year before!

That's why the consumer needs to be educated as to what is involved in attempting to buy a short sale.
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Mon Apr 16, 2012
Joseph Del Sesto, GRI, SRS answered:
Helen. The down payment is 3.5%. I also have a lender who will do a conventional loan for 3% down payment with no up front or monthly PMI. Contact me at Joe@joedelsesto.com or visit my web site below to contact me for more information. Thanks. Joe ... more
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Mon Oct 17, 2011
Debra (Debbie) Rose answered:
bottom line is.....do you have the funds to cover your closing costs?

If you don't have the funds, then it's a moot point, as you will need to ask to have them included in your offer as a seller's concession (if your lender will allow it).

Who says you need to pay list price in order to get a concession?

You really need to take a look at comps and see what the house s worth....to you..then play with the numbers any way you want.
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Sun Oct 16, 2011
Joseph Del Sesto, GRI, SRS answered:
Harold, I have run an analysis for this by town/city and can send it to you in excel or pdf format. If you would like a copy of it please go to my web site and hit the "CONTACT US" button on the left side menu. Tell me what City you would like and I will email it to you. Joe ... more
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Fri Jun 19, 2009
Alayna Berek answered:
If you buy at auction, yes. If you buy an already foreclosed home that the bank now owns, no, the bank will be responsible for that.
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Wed Nov 5, 2008
Lori Rossi answered:
Hi Angie,

What property are you inquiring about?
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