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Home Buying in Saugus : Real Estate Advice

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  • Local Info3
  • Home Buying17
  • Home Selling1
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Activity 23
Thu Oct 6, 2016
Paul answered:
Yes absolutely, but good news is that Inbedroxk.com can help you learn about, understand and navigate ALL the real costs of homeownership, including mortgage financing, so you can make educated section as to financial worthiness of your home purchase. Inbedrock.com will help you analyze purchase price, downpayment $ amount, closing costs like title fees, mortgage financing, RE Taxes + Homeowner Insurance. It's simple + easy-to-use and very educational. An invaluable tool for all homebuyers- houses, condo/co-ops, investment properties. Make sure you can calculate whether is better to Buy or Rent with Inbedrock.com ... more
0 votes 1 answer Share Flag
Thu Oct 6, 2016
Paul answered:
Yes absolutely, but good news is that Inbedroxk.com can help you learn about, understand and navigate ALL the real costs of homeownership, including mortgage financing, so you can make educated section as to financial worthiness of your home purchase. Inbedrock.com will help you analyze purchase price, downpayment $ amount, closing costs like title fees, mortgage financing, RE Taxes + Homeowner Insurance. It's simple + easy-to-use and very educational. An invaluable tool for all homebuyers- houses, condo/co-ops, investment properties. Make sure you can calculate whether is better to Buy or Rent with Inbedrock.com ... more
0 votes 1 answer Share Flag
Sat Jun 11, 2016
Max answered:
I want to buy house in Worcester and was wondering if there is downpayment assistance or grant for first time homeowners occupants or perhaps no money down mortgage loan and where or how. Any help appreciated. Thank you. ... more
0 votes 10 answers Share Flag
Sat Aug 22, 2015
USMortgageRanger answered:
Your Lender is jacking you around and you need to get to the bottom of the issue or find another Lender. Since May 1st I have closed over 14 FHA transaction. I would be delighted to provide you with some mortgage options, (this does not require us pulling your credit) that will allow you to make the best decision for your family. I can be contacted via my profile information for a no obligation consultation. My Office hours are 08:00 AM-08:00 PM Mon-Fri and Fri and Sat 08:00 AM-06:00 PM CST.

Lowell Sterling
Mortgage Banker
NMLS 968898
Capital One Bank
Phone (469) 315-1709
... more
0 votes 1 answer Share Flag
Mon Jul 29, 2013
Ron Berquist answered:
If you are in Mass I have someone who may be able to help.
Ron Berquist
ron@authentichomefinder.com
0 votes 3 answers Share Flag
Tue Jul 16, 2013
David Cutler answered:
Hi Bobby, unfortunately there is no great way to approach a pre-foreclosure property unless it is currently being marketed as a short sale. If you would like to discuss in more detail please feel free to contact me anytime. Davecutler@gmail.com ... more
0 votes 1 answer Share Flag
Sat Feb 18, 2012
Jjej54 answered:
Your answer puts it all together! How about the payment for the extensions since it is taking so long. Is that money I won't get back once I close? We have paid over 1,000 because the bank keeps asking for additional things to be done. ... more
0 votes 6 answers Share Flag
Thu Feb 16, 2012
David Cutler answered:
Have you found your REO DEAL yet!? There are a ton of nice single family bank-owned homes popping up in Peabody area lately. Many need a good amount of cosmetic work and maybe a roof or replacement heating system but the numbers definitely make sense and if you don't mind putting in the work it will pay off! You dont need the bank that owns the foreclosed property to give you the loan, there are some great loan options available such as the 203(k) loan that offers 96.5% financing for both the purchase of the property and 96.5% of the renovations and upgrades you wish to do. Its fairly easy to qualify for and is a great tool for buying homes in need of work such as most REO's. Please let me know if I can be of any help or you need more info on any available REO properties or on the 203k Rehab loan options available. ... more
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Sun Sep 11, 2011
Territory.com answered:
Try to negotiate. If the property has been on the market for a while the bank may be ready to make a deal. However, beware of short sales because the bank hasn't necessarily agreed to sell for less than the current owner paid for the home. What this means is the listing agent/seller have come up with a listing price that the bank may not have agreed to yet. That means, as an example, if you were to make an offer on the property and the seller accepts and signs the offer contract it is non-binding until the seller actually submits all their short sale paper work and gets it approved by the bank. After that process then the bank has to agree to your price. It can take months.

Short of it, before you make any moves / waste your time ask your buyer broker to find out if the bank has approved the short sale. If the answer is "no" understand this may not be worth your time. Short sales have very low probabilities of closing.

Good luck!
... more
0 votes 9 answers Share Flag
Sun Sep 11, 2011
Territory.com answered:
If you are buying a condo ask the seller for the following:
Copy of the condo documents and bylaws
A copy of the condo association budgets
How much is in the condominium reserve
Have there been any big special assessments on the building in the last 2 years
What common areas/amenities are covered in your monthly association fee
... more
0 votes 13 answers Share Flag
Thu Jul 7, 2011
Talisa Rafferty answered:
Hi Nadene,
I live and work in Saugus and I can send you open houses every week if you would like.
Talisa
0 votes 3 answers Share Flag
Mon Jun 6, 2011
Ardell Dellaloggia answered:
There are normally 3 types of "foreclosure" property. Pre-Foreclosure aka Short Sale, Foreclosure aka bought at The Courthouse Steps, REO Bank-0wned aka post foreclosure.

Agents usually will do pre-foreclosures or post foreclosures. Buying AT foreclosure at The Courthouse Steps has fewer protections as to existing liens and outstanding utility bills and some other issues. So generally agents do not do that. Not a good idea to buy AT foreclosure unless you really know what you are doing. ... more
0 votes 7 answers Share Flag
Wed Mar 2, 2011
Melissa Juarez answered:
The Saugus, MA Public School System serves approximately 3400 students in four elementary schools, one middle school and one high school. Additionally, there is one early education center and before and after school programs.
Elementary Schools

Lynnhurst, 10 Elm Street 781-231-5079

Oaklandvale, 266 Main 781-231-5082

Veteran's Memorial, 39 Hurd 781-231-8166

Waybright, 25 Talbot 781-231-5087

Middle School

Belmonte Middle, 25 Dow 781-231-5052

High School

Saugus High, Pearce Memorial Drive 781-231-5027

The Mission Statement of SHS states it is committed to fostering a partnership between the school and the community.

Early Childhood Education

Ballard School, 22 Richard 781-231-5021

Saugus also has two private preschools: Creation & Learning Station and Shining Stars.

If you are a potential home buyer and you are interested in Saugus, please contact me to start receiving listings and open house schedules. Let's connect today and we can begin visiting open houses tomorrow. I can answer any other questions you may have regarding Saugus including all the schools I have mentioned above, public transportation, houses of worship, parks, local government, market conditions, etc. I look forward to hearing from you.

Melissa A. Juarez ~ Broker/Owner

MBBA, LLC

majesq82@yahoo.com

www.massachusettsbuyersbrokeragency.com
... more
0 votes 2 answers Share Flag
Sun Jul 11, 2010
Tom and Joanne Team answered:
Sam:

If you can't afford $4,000 in closing cost then in my opinion you should not be buying a home. Now if you don't want to pay that is another matter entirely and you need to decide if this is really a home you want to own. You can always finance the closing costs and with rates as low as they are that is not a bad business decision.

best of luck.
... more
0 votes 8 answers Share Flag
Sat Jul 10, 2010
Bill Kuhlman answered:
Hi-

The wait and frustration is, unfortunately, part of the cost of buying a short sale. There are plenty of deals with short sales and foreclosures, but very, very few steals.

If you're dealing with one of the big lenders, like BOA, Wells-Fargo, or Citi, you're generally going to have a much longer wait than if you're buying a short sale through a small, local lender. You might get extension after extension after extension, while it seems like they are intentionally dragging out the process simply in order to make it aggravating for all involved.

The trade-off is that you'll often pay a lower price for one of the mega companies' short sales than for a local lender's. You'll likely have to pay closer to the market value with a local lender in part because they know the property and they know the local market, and because fewer buyers will be scared off by the string of delays.

So, if you have the patience of Job and the flexibility to close anywhere between 21 days and 24 months, you might get a bargain. But it can be an agonizingly slow process where you're in the dark much of the time. As I said, there are plenty of deals, and very few steals.

Best of luck!

Bill Kuhlman, CRS
No Dual Agency, Ever
... more
0 votes 8 answers Share Flag
Fri Jul 9, 2010
Kevin Vitali answered:
Short sales can be a very long process. They vary in length of time from bank to bank as well as negotiator to negotiator with-in the same bank. All the extension means is you are going to be out of contract and to keep it in contract they need signatures from you and the seller, it really has nothing to do with contact from the bank. ... more
0 votes 5 answers Share Flag
Wed Jun 30, 2010
Christine Moran Realtor & Notary answered:
Many agents have had problems with bank of america. The buyers wait and wait and don't hear anything.Then bank closes the file and says the "buyer walked "and they have to start all over again. This is probably one of those things that isn't illegal now, but will be in the future. Let me know if it does work out for you. I havn't seen many that have. ... more
1 vote 3 answers Share Flag
Tue Jun 1, 2010
Kevin Vitali answered:
Who knows!! No one can make any guarantees on time of approval when it comes to short sales. There seems to be no rhyme or reason when dealing with the banks. It seems about on average the banks are taking about two and half months for contact associated with a short sale approval. Of course some are quicker and some are slower. ... more
0 votes 1 answer Share Flag
Fri May 7, 2010
Robert Pratt answered:
It would help greatly if you told us whether you are on the selling side or the buying side. The answer varies greatly depending on which side you're coming from.
0 votes 2 answers Share Flag
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