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Home Buying in Washington Court House : Real Estate Advice

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  • Home Buying4
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Activity 9
Fri Dec 9, 2016
Alysse Musgrave answered:
See if you can find a "bridge loan". It might be a less expensive option than a cash-out refi.

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Alysse Musgrave
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Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
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Mon Apr 11, 2016
Sally Grenier answered:
You can have the title company create a power of attorney and have your husband sign on your behalf as your POA. Or reschedule closing to a date when you can sign in person (provided your lender, agents and sellers can all agree to the date change). ... more
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Wed Feb 27, 2013
John W. Chang, MBA, Broker answered:
Depending on a number of factors, closing costs can be up to 4% of the cost of the house. Or even more if the house is low cost.

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Fri Feb 17, 2012
James Gordon ABR SFR SRS answered:
If you were to come to me to view homes I would ask to talk to your lender and for you to talk to one of the lenders that I work with. I have had people that were told that they were preapproved if they did a few steps that could not qualify for a loan.
You are willing to make a commitment by driving two hours to look at homes that you currently can not purchase but currently you can not complete a transaction.
You have to realise that a REALTOR® gets paid for closing sales not showing homes. Showing homes is an expense and in addition costs time.
The sellers also have to vacate the property. There are a number of times I have scheduled showing on properties where the buyer just had to see it now. I have watched as I am waiting at the property families load up in the car or van to vacate the property for a showing. to never have the buyer show up. Many times the reason is "something came up' or 'I forgot'. We are all just trying to be more respectful of everyones time and effort in the process.
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Wed Jun 8, 2011
Bill Eckler answered:
The co-signing optionis one that has been credited with the dismanteling of many good relationships and represents a great opportunity fot the party taking out the loan. It essentially can make the loan attainable to a party that otherwise would not qualify for funding.

The co-signer, on the other hand, is assuring the lender that they will guarantee the loan payments if they are not made by the primary borrowing party.

Hope this is helpful.

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Tue Feb 1, 2011
Richard Heffernan answered:
There was a home for sale next to a graveyard, everytime I showed it the buyer did not want to enter the home. After a while it was for rent, same thing, it sat there vacant for some time. I find more buyers perfer not to be by a graveyard. On the other hand you only need one buyer when it's time to sell it.
Always get an inspector, also have the contractor who will be doing the work look at it.
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Tue Feb 1, 2011
John Sacktig answered:

You can of course go to the listing agent on this property. Dual agency is not the nightmare that some suggest. Not at all.

Do your due diligence, Have an agent ( the listing agent or any other you choose) prepare a market analysis for the area to see the comps of recent closings, active listings and expired listings.
This information will set the tone for what is happening in the area and you can go from there. You control what you want to pay for the home, not the Realtor. With a bank owned property all offers will go to the bank and in today’s world if the listing agent knows what they are doing, you should get a response in a relatively short period of time.

With a bank owned property it is all numbers and even if you “got your own Realtor”.. There is nothing that person could do different than the listing agent as the bank will say, yes or no.

Just get in the game!
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Sun Mar 28, 2010
Dee Nofziger answered:
Important FYI - I have been told that USDA down payment funds have been exhausted - meaning there is no money left in the pipeline to give to buyers.

Wells Fargo stopped accepting USDA applications on March 12th. becasue of this. ... more
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Sun Mar 28, 2010
James Gordon ABR SFR SRS answered:
Artie in addition there is a rehab loan that FHA offers. It does not require all the documentation and oversight that a full 203k rehab loan calls for. This product is called a 203 streamline loan and repairs must be 35,000 or less on the property. I am seeing a lot of lender owned properties now that in the description call out
"no FHA or VA try a streamline loan".
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