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Scott County : Real Estate Advice

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Activity 69
Debbie Kay C…, Other/Just Looking in Norton, OH
Mon Aug 22, 2016
Debbie Kay Cline Yoak answered:
ON DEED BUT NOT MORTGAGE HOME IN FORECLOSURE, WHY CAN'T I GET A LOAN FOR A HOME. MY HUSBAND PASSED AWAY AND I HAVE BEEN TRYING TO GET A HOME LOAN BUT THEY TELL ME SINCE I WAS ON SURVIVOR SHIP DEED I COULD NOT GET A LOAN I HAVE TO WAIT AT LEAST 3 TO 4 YEARS. HOW COME OTHER PEOPLE CAN DO THIS BUT I CAN'T AND I HAVE A GOOD SCORE?????? ... more
0 votes 10 answers Share Flag
 Lillytena, Real Estate Pro in South Miami, FL
Sat Aug 13, 2016
Lillytena answered:
Builders have no problem paying closing costs. Heck they will do the max allowed by conventional if you want. I just did this with my buyer on a new construction house. Sometimes they will give beef about appraisal issues (and sometimes it is warrantied) which is the only concern.

THE KICKER is whether they just wrap these into the loan amount or not. If you can negotiate upfront before signing anything it will be possible to hopefully get the builder to cover half of the costs like you said. This is without changing the sales price.

You better do it then though, because once the build starts you lose all leverage. At that time if you ask for $5,000 in closing costs the builder will still do it, but they will just add the $5,000 to purchase price so you essentially are FINANCING the closing costs.

Make sense? Good Luck! http://USAConstructionLoans.com
... more
2 votes 6 answers Share Flag
Tatumlea, Home Buyer in Sebastopol, CA
Thu Jun 16, 2016
Tatumlea answered:
A construction loan is typically a short-term loan used to pay for the cost of building a home. It may be offered for a set term (usually around a year) to allow you the time to build your home. At the end of the construction process, when the house is done, you will need to get a new loan to pay off the construction loan – this is sometimes called the end loan.

Essentially, this means you must refinance at the end of the term and enter into a brand new loan of your choosing (such as a fixed-rate 30-year mortgage) that is a more conventional financing option for your newly completed house.

Web Reference: http://USAConstructionLoans.com
... more
2 votes 9 answers Share Flag
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Thu Sep 17, 2015
Debra (Debbie) Rose answered:
you can ask your agent to do this as only agents may edit their listings
0 votes 1 answer Share Flag
Dan Tabit, Real Estate Pro in Issaquah, WA
Fri May 15, 2015
Dan Tabit answered:
Concerned, Why is it a bad neighborhood? You're upgrading the lot (I assume) and it's probably a neighborhood you like. Do you have a specific concern?
0 votes 1 answer Share Flag
garypuntman, Other/Just Looking in Los Angeles, CA
Mon May 11, 2015
garypuntman answered:
I don't know any in that area. I know my sister has been doing some research though. It's always a good idea to check with friends and neighbors and see what they suggest. You should also research the agents that have been suggested. http://www.ianhewitt.com.au ... more
0 votes 5 answers Share Flag
Mary Leizing…, Real Estate Pro in Eden Prairie, MN
Fri Apr 17, 2015
Mary Leizinger answered:
I have a similar concern and less than stellar experience with Bohland homes in Wayzata, MN. The property will be finished in a couple of weeks and I'm hoping for an upside surprise with the actual construction, but the process of getting there was the most difficult builder experience I've had in 25 years of selling real estate. We are building out a condo for a price well in excess of $1M and the allowances they have given appear to have been designed for base line bare bones property. We were sent all over the Twin Cities to make selections at 14 different vendors, (keep in mind that this property is designed for seniors), only to find that we were expected to make selections with no pricing information from most of the vendors who were apparently told they were not to make quotations to the customer. Over the course of several months, some pricing trickled in, but most if it arrived about 30 days prior to closing and contained errors and surprises tens of thousands of dollars over the allowances in some cases, despite the buyers being very careful to ask to be shown selections that were near the allowance. All in all, the process has been very chaotic and not at all what you would expect in a luxury home buying experience. Sorry for the vent, but needed to get this off my chest. ... more
0 votes 9 answers Share Flag
Christopher…, Real Estate Pro in Bloomington, MN
Thu Apr 2, 2015
Christopher Block answered:
There is typically a confirmation email by the bank. Ask for it.

Good Luck!

~Chris
0 votes 3 answers Share Flag
Yaw Anku, Other/Just Looking in
Fri Feb 13, 2015
Yaw Anku answered:
For an updated list of FHA approved condos in Minneapolis checkout http://homebuyerwise.com/FHA-Approved-Condos/city/Minneapolis-MN_13062 for 24/7 access. Unfortunately the HUD site is down in evenings and on weekends when people need it most. Most other sites have data that is out of date. ... more
0 votes 7 answers Share Flag
mickeyl88, Home Buyer in Apple Valley, MN
Tue Apr 22, 2014
mickeyl88 asked:
This question was asked from http://www.trulia.com/rental/3150672301-1666-Riverside-Shakopee-MN-55379
0 votes 0 Answers Share Flag
Dan Tabit, Real Estate Pro in Issaquah, WA
Sat Apr 19, 2014
Dan Tabit answered:
ressiet,
Probably, but then you'd have a home in foreclosure too. Adding or changing the name on a deed won't cancel the mortgage. In fact, you may accelerate the process due to a "Due on Sale" clause in most mortgages.
If you want to avoid foreclosure there are several things you need to do and start yesterday. A; meet with a real estate attorney who works in this area full time. Your situation needs and deserves a full review. Based on what your situation is, they attorney may suggest;
A loan modification, which while rare could save the property and either lower your balance or make it affordable to get caught up.
A short sale where the lender allows you to sell for less than what is owed, and may forgive the difference.
A bankruptcy where the process is stalled until a solution is found.
A deed in lieu of foreclosure to resolve the matter quickly and certainly.
An outright foreclosure via the standard time.
Just remember that no one here knows enough about your situation to truly advise you which will be the best for you. As agents, we are quick to jump on the short sale answer, and often it's a good one, but not always.
Time is not on your side, but sale dates can get postponed and often do. Get with an attorney immediately so you at least know your full options and the consequences you'll be living with for many years to come.
... more
0 votes 1 answer Share Flag
Terry McCarl…, Real Estate Pro in Cape Coral, FL
Sat Apr 12, 2014
Terry McCarley answered:
As the others said, Trulia doesn't update the pictures - your listing agent needs to edit the listing. Your agent needs to login to Trulia into her account and then simply update the pictures. If she isn't a member of Trulia she can register for free. ... more
1 vote 3 answers Share Flag
Krisskraus, Home Buyer in Prior Lake, MN
Fri Apr 4, 2014
Krisskraus asked:
This question was asked from http://www.trulia.com/property/1034504585-4135-W-134th-St-Savage-MN-55378?ecampaign=con_day_propertycomp_bk&eurl=www.trulia.com%2Fproperty%2F1034504585-4135…
0 votes 0 Answers Share Flag
Hannah, Renter in 55372
Wed Mar 12, 2014
Hannah asked:
Kristen Scha…, Real Estate Pro in Carver, MN
Fri Jan 10, 2014
Kristen Schade answered:
Nancy-

Hello! If you work with a real estate agent to help you find a rental, usually no fee's are due from you to the agent. They get paid by the home owner or landlord. Although some agents can and do charge an upfront fee, this is not normally the case. I would just ask before you use someone to show you properties.

Once you find a home you want to rent and are dealing with the landlord or home owner, you will probably need to pay an application fee prior to getting approved to sign a lease. Be sure you understand the landlord's credit and income requirements before applying to rent a home, this will save you time and money.

Hope that helps-
Kris
www.HWY212RE.com
... more
0 votes 2 answers Share Flag
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