Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Shakopee : Real Estate Advice

  • All22
  • Local Info0
  • Home Buying4
  • Home Selling2
  • Market Conditions1

Activity 11
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
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
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
Susan Hoffla…, Real Estate Pro in Shoreview, MN
Mon Apr 8, 2013
Susan Hofflander answered:
Hi, taaron2004!!

Well, this gave me such a tickle today!! So good of you to ask for advice here and, it's appropriate for the agents to advise that you should "hire an agent"!!! I'd, of course say that makes the most sense, too.

Facilitator is a much less expensive way to go to make sure that all of the paper work gets done correctly. You could also hire a real estate attorney if it's just a matter of paper work.

It's smart that you're asking. Many people try to just buy the papers and do it themselves. I never realized, until i BECAME a licensed agent, how many legal procedures are involved in a real estate transaction, that open BOTH parties up for some major liability issues. So, with that knowledge, I'd at least consult a professional before you do anything.

I always say, "It's not a problem until it IS!!"

Good luck!!
... more
0 votes 9 answers Share Flag
Susan Hoffla…, Real Estate Pro in Shoreview, MN
Mon Jun 28, 2010
Susan Hofflander answered:
Lise makes the best point here. It's more important how YOU will feel about living in that location than any other factor. If you think it will bother YOU, then it might not be the best choice. Does it impact resale? Maybe. Some buyers might like that proximity to the school, others won't. I have not found that to be a significant deterrent to buyers, but it is a factor. ... more
0 votes 7 answers Share Flag
Ryan Bretzel, Real Estate Pro in Stillwater, MN
Thu Jan 28, 2010
Ryan Bretzel answered:
There have been many good answers. It comes down to if the extra things that make the house that much more YOU is worth the ~$50K then yes it might be worth it. You also get the state warranty with a new construction home: 2 years on all mechanical/electrical/plumbing systems and 10 years on all structural defects. Many of my builders are able to build homes for much less than existing because building prices are down much more than from 2005.

Let me know if you would like a referral to a good builder.
... more
0 votes 6 answers Share Flag
Aaron Dickin…, Real Estate Pro in Champlin, MN
Mon Jul 20, 2009
Aaron Dickinson answered:
I have one client building in Countryside and another considering it. Buying new construction has many advantages but it is also very easy to go overboard on upgrades that nickel and dime you to death. If you're a 1st time buyer and buying a to-be-built it will be tight to get the house done by November 30th but should be possible for the builders... timing is critical on that. ... more
0 votes 6 answers Share Flag
Search Advice
Search
Home Buying in Shakopee Zip Codes

Followers

76