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Home Buying in Smiths : Real Estate Advice

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Activity 4
Thu Jul 13, 2017
Alan May answered:
In order to avoid paying P.M.I. (Private Mortgage Insurance) most lenders require a down payment of 20% of the value of the home you're purchasing, regardless of the purchase price.

So with a $250,000 home, you'd have to put $50,000 down. ... more
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Mon Mar 30, 2015
ilovechris_i asked:
I want to rent to own but my husband only get less then $300 a month. yes we are newlywed and we do have 2 kids. i just need a two bedroom place... it can be a fixer upper that is fine with…
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Fri Mar 25, 2011
Jane Grant answered:
Bamajim50: There are many reasons that a Real Estate transaction may be delayed. Sometimes, it's as simple as obtaining a Homeowners association demand, or an appraisal being late, or loan documents needing corrections, or property tax information may be needed to be corrected on the final closing statement, or if it is a bank owned home perhaps the legal department at the bank took longer than expected, or another signature may be required.

It's not that your agent or the bank wants to delay the transaction. Everything must be correct and and accurate.

If you don't sign the extension then you may be in jeopardy of losing your deposit.

Without knowing the entire details of the transaction and the reason for the delay, no one on any public, virtual forum can advise you correctly.

Delays are typical in many different business transactions.

... more
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Sun Mar 20, 2011
Anna M Brocco answered:
Without much information is this property bank owned, being sold as is, does the listing price reflect the necessary repairs, etc. Do you have an agent and or an attorney and if so what is being suggested--since none of us are directly involved in the transaction, not sure an accurate answer can be given. ... more
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