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Tredyffrin : Real Estate Advice

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  • Home Buying2
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Activity 4
Tue Apr 26, 2011
Emily Erekuff answered:
Hi Homeforus,

Congratulations on purchasing your first home!

It's absolutely ok for you to share your buying experience on Trulia. That's exactly what this section of the site was made for - to share experiences, knowledge and advice.

As BG noted below, blogging is the best format to share information with our community. Please access the link below to publish a blog post on our site, and let us know if you have any questions or feedback about the process.

Best Wishes,

Emily Erekuff
Community Moderator
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Wed Feb 23, 2011
answered:
Equity in the property will have a lot to do with which direction I suggest. My office is located right on Uwchlan Ave in Downingtown. Would be happy to sit down with you and go through your options

Joe Cafiero
Superior Home Mortgage
jcafiero@supmort.com
610 594-6611
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Tue Feb 15, 2011
Nick & Trudy Vandekar answered:
Nowadays the good faith estimate that is being used by the reputable lenders states all costs, those that must be fixed, like the transfer tax rate, those that can vary by 10% and those tnat can vary by more than 10%. A word of advice in choosing a mortgage provider is to make sure they are local and will attend settlement. I can give you some names of local providers who other clients have used. Feel free to contact me for a list.

Some of the brokerages do charge a commission to buyers, as was stated below this can vary from broker to broker, this is the only commission that the buyer pays as the buyers agent is compensated by the seller.

Your buyers agent can provide you with estimated Closing costs on any property before you prepare an offer, and also your mortgage provider can give you estimates as well once you identify a property.
The condo and homeowner associations charge a one time capital fund contribution to keep monthly fees lower, it also allowed them to build larger reserves as well for major projects, and thus avoid having to make assesments. You will need to consider the financial well being of the association that mangaes your development. There are two management offices that manage developments in Chesterbrook.
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Tue Feb 15, 2011
Nick & Trudy Vandekar answered:
Some great answers below. Whilst you may be considering putting 20% down you may also want to consider using an FHA mortgage that allows you to put less down and keep a larger reserve for repairs and emergencies. Finding a good agent and mortgage provider who can help you understand all the pros and cons is a good first step. ... more
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