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53151 : Real Estate Advice

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  • Home Buying4
  • Home Selling3
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Activity 10
Thu Dec 22, 2016
ajj325 answered:
Full Post:

Here's the story. My mother and I are in the process of purchasing our dream home for both of us to live. Perfect neighborhood, close to both of our jobs, close to local stores, etc. We were doing just fine, it was a matter of us simply getting our down payment together and having our file reviewed by underwriting, with us intending to close on January 27th.
Then something happened. I ended up losing my job. Luckily, I had known that this was coming and had been pursuing new jobs for a while. I ended up accepting an offer for a new position as an engineering manager making significantly more money than I make now.
Here's the problem: the first 90 days of this job, I will be technically employed by a temp agency and not the company I will be stationed at. This is typical of the company in question, simply so that the payment of their recruiting agency's finders fees can be spread out over time.
So, I told my lender (Inlanta Mortgage) about this new position and the contract-to-hire stipulation. This stopped my lender dead in her tracks. It turns out, this income will not be able to count in the eyes of Fannie Mae because it is considered unstable. I can see their reasoning for this, but I'm wondering how this will work out.
My mom freaked out and called our lender, and was basically told that I switched jobs at likely the most inconvenient time possible and that the underwriter will likely not approve this income. Our lender had us fill out a form so she could talk about this situation with the seller's agent and see what we can do.
I'm scared that this position will cause me to lose this house and have to live with my mom in our crappy apartment for some time until my contract is up and I am employed in March. Not to mention, this is straining my relationship with my mom.
What can be done about this situation? Should I start looking into our local "subprime" lender, where I will be paying up the behind in interest but at least can get this house? What options are available in this case?
Thank you!
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0 votes 1 answer Share Flag
Thu Jun 9, 2016
Sharon Medairy answered:
This is such an easy question. Just listen carefully to your listing agent's advice, get the estimates for needed repairs and implement the strategy. Generally speaking the best prices are for houses that
are vacant and staged, painted and inspected. To begin, clean, clean, clean, paint everything.
Sharon Mediary.. 510-517-9969.
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0 votes 18 answers Share Flag
Mon Mar 14, 2016
Jan Wilson answered:
How do I remove pictures of the interior of my home after taking it off the market ?
0 votes 6 answers Share Flag
Thu Mar 3, 2016
MCM_STL answered:
It's not essential but you'd be surprised at how bothered buyers can be by paint colors. Depending on how loud or bright they are, they can distract buyers from being able to see the bones of your house.

The condition of your paint matters too. We painted right when we moved in to our house 8 years ago. Life and small children have definitely left their marks on our walls. We're having the house painted when we move out if for nothing else, to make it look fresh and clean.
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0 votes 1 answer Share Flag
Tue Sep 8, 2015
Diana Hellman answered:
You cannot. Only real estate professionals can post on Trulia. Try Zillow instead.
0 votes 1 answer Share Flag
Mon Aug 17, 2015
Maryrusch1 asked:
porch. I do plan to move in about five years, so would like to speak with an experienced broker in my area who can give me some guidance.
0 votes 0 Answers Share Flag
Sun Feb 9, 2014
Matthew Szymuszkiewicz answered:
Banda,

I will be more than willing to send you a list of properties that are bank owned in your desired location. You can always email me at mattszy@shorewest.com or give me a call 414-243-6531 and we can talk further. I will just need an email address and I can get that out to you. ... more
0 votes 2 answers Share Flag
Fri Sep 20, 2013
Lisa Packard answered:
I'd add that there are a lot of really great apps you can download onto your smart phone to search for homes. If you are out and about and happen past something you are interested in, these apps track where you are and bring the information right to you. Pictures, descriptions, lots of good information. My brokerage First Weber has one, as does Shorewest. You can also download trulia or zillow apps.

What an amazing age we live in! :)
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0 votes 5 answers Share Flag
Sun May 3, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
I hope you have a buyers agent and should follow their direction. The seller is required to let you inspect the property as outlined in the contract you submited. The time lines for the inspection and other contengentcies are tied to how the contract was prepared. Review thses time frames.

The choices that you have are:

Have your agent contact the other agent verbally to get it moving forward.

Send an ammendment indicating that if can not get in property you will place the seller on notice of defect

Send notice of defect , this notice needs to be sent prior to the expiration of time frames outlined in your contract. This will kill the deal if done withing the time frames.

Again discuss this with your agent. If the seller does not want you to inspect you need to be concerned. Your agent may have other approaches to address the issue but watch out for the time frames in the contract.


Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield, Wisconsin
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2 votes 1 answer Share Flag
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