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Home Buying in Puyallup : Real Estate Advice

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  • Local Info10
  • Home Buying24
  • Home Selling6
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Activity 37
Mon May 29, 2017
Alex Foraker answered:
Hi Lavina, I would suggest reviewing your purchase contract to see if there is verbiage about per diem for closing after initially agreed upon closing date. It's important to keep close communication between your agent and lender to ensure a timely closing. I've negotiated extensions with out additional fees with a logical explanation of why you'd need additional time to fund the loan. Hope it works out and congratulations on your purchase! ... more
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Sat Aug 6, 2016
Kary Krismer answered:
Assuming you're looking for a house to buy, you should really use one of the broker sites because they have more listings. Not every agent/firm pushes their listings to Trulia, Zillow and/or

Assuming you're selling, then you want an agent that does push their listings to such sites. That's something you should verify before signing a listing agreement.

As a seller you want to capture every possible buyer, but as a buyer you want to see as many listings as possible (and not see ones which are already off the market).
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Wed May 18, 2016
Patrick_bradley23 asked:
Sun Mar 27, 2016
Kary Krismer answered:
The banks are generally faster now, but there is no way to answer your question. For one thing you don't even mention the bank or whether more than one entity is involved.

FHA (an VA?) have a process where they can determine the value before the property is even listed, and if that process was used by the listing agent, and that is the only bank entity, the process can take well less than 30 days. Other situations could be 4 months or more. But don't just accept the listing agent's claim that the price has been approved by the bank. That is probably more often false than true on non-FHA transactions, and I've even seen situations where they had not contacted one of the secured creditors at all.

Also, you don't know what the bank will answer. They may come back wanting some completely absurd value, although I've seen them do that an then later accept the original price. I've also seen deals fall apart over small amounts of money.

So the short answer is there really is no answer.
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Sat Mar 19, 2016
Kary Krismer answered:
Ignore the spam from the response of a Texan just trying to sell a book.

Answering your question would require that someone know the contents of your contract, and is really a question best answered by an attorney. It's not even clear if you're asking a question about a transaction in Illinois or Washington.

I will warn you that if in most of Western Washington the standard contract contains a representation that you have sufficient non-contingent funds, but the standard financing contingency would typically specify the amount of down payment you would be making. So assuming you used the standard financing contingency and specified 2.5% down, seemingly you're not able to get financing and could rely on your contingency--assuming no other issues. But that is far from clear. Conversely, if you didn't have any financing contingency, and didn't specify how much you were putting down, you'd be in trouble.

So, you should consult an attorney to review your contract. You also should likely find a new agent because they should be consulting with your lender about what is required for you to get financing. That's pretty basic stuff, and was apparently not done.
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Mon May 18, 2015
Lynn Mcneal asked:
Sun Mar 8, 2015
Alex Foraker answered:
I've provided links for vacant land listings or building sites in Puyallup. Vacant land takes a bit of research, feasibility studies conducive to wetlands, costs of utilities and permits can be just the start. It can be a great deal of work but also very rewarding, essentially most land purchases leave a homeowner with a great amount of equity after building. Please advise if you have any questions, I'm happy to help! ... more
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Thu Feb 26, 2015
blancheinhawaii808 asked:
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Thu Jun 5, 2014
Dan Tabit answered:
Hi Bob,
Page 834 J 4. I looked it up on CoreLogic's site called Realist. I don't think the public has access to this, but there are probably other ways to find it too.
0 votes 1 answer Share Flag
Thu Apr 10, 2014

Scowan – hi there ….do you still need any assistance ? Feel free to call or email with any questions or needs

thanks and all the best

Dave Skow
WA MLO #278613
Eagle Home Mortgage
w 206 714 9745
... more
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Thu Feb 6, 2014
Terry McCarley answered:
Lots of variables are involved with short sales. The lender could issue approval in a couple of weeks, 2 months, 3 months, 6 months...never and just foreclose. You should discuss all of your concerns with your real estate agent. ... more
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Tue Feb 4, 2014
Eric & Rachel Anderson answered:
No they don't usually accept a list price offer. a short sale will in no way look or feel like a normal home purchase, because they aren't! Some of them are really good and will get you a great deal. Most are a hassle, and will drive you and your agent crazy! These are distressed sales, the seller is going away broke and a third party (the bank) has to agree to lose, in order for you (the buyer) to win! Important to successfully getting a short sale home is knowing that just because it is for sale, does not mean it can be bought! Work with an experienced broker that can help you evaluate a property before you write a contract. You don't want to waste your time under contract, but unable to close. ... more
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Tue Feb 4, 2014
Spencer Gray answered:
An earnest payment is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official Procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. ... more
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Mon Feb 3, 2014
Keith & Sheila Campbell answered:
James, I am Realtor and a licensed Professional Inspector and having inspected thousands of homes, I can tell you that a good professional inspector is worth the cost of an inspection fee. Ask lots of questions about the property and ask for references and actually call the references. You want to hire an inspector who is licensed with at least 4 years experience and who is a teacher. Someone who will teach you about at the condo while also identifying deficiencies!

In Texas a professional inspector has to have almost 500 hours of inspection education and pass a pretty difficult test, in your state it may be different.

Do your homework, ask questions and Best of luck!
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Mon Feb 3, 2014
Bradley Givens answered:
As I have mentioned in a similar post, the first short sale bidder is often the "guinea pig" to see what the bank will actually accept. The list price is not set by the bank unless the amount has already been revealed through a previous short sale offer that fell through. The all cash offer doesn't really speed up the bank approval process; however it can save a couple of weeks in the closing process once you receive approval. In my experience, the bank approval process can take from 3 to 10 months. ... more
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Mon Feb 3, 2014
Bradley Givens answered:
It really depends on the bank, property, offer, negotiator, etc. In my personal experience I seen them vary between 3 months and 10 months; however I heard of some taking much longer. I always encourage my clients to avoid short sales whenever possible, unless you are in no rush whatsoever. It can be very frustrating once it falls into the bank's " Black Hole". When they do eventually get back to you, they may approve it, disapprove it or ask for more. Quite often the first short sale bidder is the "guinea pig" to see what true amount the bank is willing to sell it for. ... more
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Sat Jan 25, 2014
Jeff and Kaye Piggot answered:
I have had this come up a few times due to the length of time it an take to get bank approval on a short sale. Because the bank wants an up to date value of the property they may base the sales price on the new value, lower or higher. The new appraisal will take a minimal amount of time to come in, maybe a week or two at the most, but that doesn't mean the ban will come back with an answer immediately. Short sales require lots of patience, but can result in a good deal! ... more
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Thu Jan 23, 2014
Kary Krismer answered:
As to the possibility of the condo price going up, if you don't close within the limits set by the bank's approval of the short sale, yes that can happen, but not necessarily based on the result of the new appraisal. They won't necessarily see that, but they can change their mind. ... more
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