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48076 : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying11
  • Home Selling3
  • Market Conditions0

Activity 16
Wed Jul 27, 2016
Maricris A answered:

I apologize for the error you are receiving when attempting to edit your home facts on Trulia. This is a known issue that we are working to resolve as quickly as possible. We are currently working with our developers on getting an ETA for the fix.

Please note that if you intend to put your home on the market, you or your agent will have the ability to create a new listing and post new photos. This new listing will then override the property page with the incorrect data.


Consumer Care Advocate
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0 votes 1 answer Share Flag
Mon Jun 13, 2016
Sally Grenier answered:
You need to talk to your lender and/or Realtor. But here is my explanation:

If you're buying a house for $200K, and you're going with an FHA loan with 3.5% down, that's $7000 down payment. Closing costs are on top of that. Your lender should have given you a good faith estimate of what your closing costs will be. Usually 1-3% of the purchase price. A lot depends on their origination fee, any PMI fees or pre-payments, interest rate buy-down, etc. So at a purchase price of $200K your loan amount is $193K. (96.5% of $200K)

BUT....let's say the home only appraises for $195K. Your lender only will loan you 96.5% of that price. (So $195 x 96.5 = a loan amount of $186,245). So...instead of a downpayment of just $7K you'll have to come up with the difference between $200K and $186,245, so now you're looking at about $13,755.

Again, you really need to be talking to the pros who are working with you.
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Wed Jan 27, 2016
Gregory Young answered:
Yes. Go to The most valued and preferred source.
0 votes 4 answers Share Flag
Fri May 16, 2014
Derek Tunison answered:
I just wanted to follow up and make sure you received financing for your home loan. If you haven't, I am not far from you, and would be happy to work with you. Good Luck!!

Derek Tunison
Sr. Loan Specialist
First Mortgage Corporation
41950 Hayes Rd
Clinton Twp, MI 48038
NMLS 162605
Cell: 586-306-8994
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0 votes 2 answers Share Flag
Thu May 15, 2014
maverickfundingwarrenmichigan answered:
We here at Maverick Funding specialize in Credit Scores under 600 we would love to help you get Pre Approved please give us a call at 586-554-2060
0 votes 3 answers Share Flag
Tue Mar 25, 2014
LeAnne Smits answered:
Hi Toya-
Feel free to give me a call at 248.320.0811
0 votes 1 answer Share Flag
Thu Jul 19, 2012
Tim and Linda Keohane answered:
It should be reasonable for you to make arrangements with the party that was authorized to accept your offer, to get permission to enter and inspect that property at least every week to be sure that there have been no damages, break-ins, etc. to it prior to your closing - especially because it is vacant. Good Luck! Tim and Linda Keohane, Cabela's Trophy Property Brokers at Great Lakes and Land Real Estate Company 07-19-12 ... more
0 votes 6 answers Share Flag
Mon Feb 27, 2012
Rob Weber answered:
One would think that means your offer is in line to be reviewed by the asset manager and they'll respond when they're ready... If you made your offer in the first day or two the property became available, your offer won't be reviewed until at a minimum, three days have elapsed (according to the HomePath customer service rep I spoke to a month ago). If you made an offer in that window, that may be why it's awaiting approval. ... more
1 vote 1 answer Share Flag
Tue Feb 21, 2012
Joe Bertera answered:
In a case like that either the seller or the buyer would have to bring additional money to closing if you can agree on the difference between the appraisal and the sale price. The other option would be to lower the sale price to meet the appraisal and you would have to bring the difference to closing to satisfy the mortgage payoff. ... more
0 votes 6 answers Share Flag
Sat Jul 23, 2011
Karen Paytas answered:
Hi Homebuyer:

It's still pending approval of the lender for the short sale.

Thank You,

Karen Paytas, GRI, CMS
Real Living Kee Realty
586-709-8465 ... more
0 votes 1 answer Share Flag
Tue Apr 26, 2011
Brek Schutten answered:
Many short sale listings aren't considered pending until the the bank approves the sale. However, when the listing agent gets a decent offer on the property that the sellers are willing to accept, he/she generally only sends one offer to the bank for approval. At this point, he/she will not necessarily change the status to pending, and all offers that come in after the initial offer is submitted are to be treated as backup offers. I would find a Realtor to set up showings for you. He/she should be able to let you know when a house is no longer available. ... more
0 votes 6 answers Share Flag
Fri Apr 15, 2011
Rebecca Cunningham answered:
Michigan is a Dower rights state which means as long as you are married, your rights are intact. If you are not one the mortgage, there is no need for you to attend the closing.
0 votes 6 answers Share Flag
Wed Apr 6, 2011
Karen Paytas answered:

As everyone has said your offer is no longer valid. If the home is currently listed your agent can write an offer on it for you which will now be negotiated with the bank alone. Sometimes, it takes some time for the home to come onto the market after the redemption period has ended. Have your agent keep an eye out for it to come on the market if it's not currently on the market.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
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0 votes 5 answers Share Flag
Sat Nov 27, 2010
George Porretta answered:

Lathrup Village is part of the Southfield Public School system. The ballpark average property taxes for that area is around $5,500.00. Unfortunately, Lathrup Village, like Southfield, does not give much advantage to Homestead property owners and the Homestead/Non-Homestead tax rates appear to be similar. Please contact me with further questions about Lathrup Village or any other local areas. Thank you.


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0 votes 2 answers Share Flag
Thu May 22, 2008
smith3gary answered:
Heidi, Some interesting traditional ideas. The latest ideas do not include the scatter gun approach. They rely on target marketing to qualified home buyers. Please keep in mind that every marketing piece about your home is required by law to have the Broker (company) name and either address or phone number. So when you're looking at agents brochures, I want you to cover up every part of the page that has to do with the agent and or the agents company.

Web 2.0 is one of the latest ways to market properties. Luckily, several agents in Oakland County practice using this technique to market homes through networking an blogging.

Most agents utilizing this way of marketing will not simply rely on older forms of marketing like, the Multiple Listing Service, or simply pounding a sign in your yard, placing an ad in the paper, perhaps a few postcards, and praying your home will sell. They will make use of many Vertical Search Engines and include all large competing real estate companies in the marketing of your home.

I do not service Southfield, but instruct agents to effectively market homes. If you would like to find out more, simply contact me through Trulia by clicking my photo. No obligation or cost initial contact.
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