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22306 : Real Estate Advice

  • All14
  • Local Info4
  • Home Buying5
  • Home Selling1
  • Market Conditions0

Activity 305
Thu Feb 17, 2011
Cindy Jones answered:
Usually you can find landlords who understand the reason behind a recent short sale or foreclosure. I haven't had any landlords demand an extra deposit but being upfront goes a long way. Try to hide your credit issues raises more flags than telling it like it is. ... more
0 votes 4 answers Share Flag
Fri Jan 7, 2011
Mark Cohen answered:
The only disadvantage to having a no or small down payment loan is that you will have a bigger loan principal and higher monthly payment to pay the lender.
0 votes 12 answers Share Flag
Tue Dec 21, 2010
jo answered:
I dont know of any in your area, but If I find any, ill write back to you.
0 votes 3 answers Share Flag
Mon Dec 20, 2010
Anna M Brocco answered:
Before considering such a scenario, inform yourself well--for any tax issues, do consult with an your tax professional, and or tax attorney--he/she can best advise as it relates to your specific situation...for any legal questions, do consult with an attorney who specializes in real estate--for morgage matters, do consult with any qualified loan officer--then go from there. ... more
0 votes 5 answers Share Flag
Tue May 5, 2015
Jose Garcia answered:
Marta:
Thank you for contacting me.
I do not know if you have a Buyer Agent helping you to buy
this property, if you do, he/she should be the one giving you
the info about lenders in your area.
If you do not have a Buyer Agent I will be happy to help you,
let me know to schedule an appointment.
Thanks again!

Jose
... more
0 votes 8 answers Share Flag
Sat May 18, 2013
Tim Moore answered:
0 votes 10 answers Share Flag
Sun Sep 11, 2011
Betty Best answered:
Hi Veronica
Your best bet is to watch Craigslist ads for the area. Lots of people rent out basements or rooms this way. If you have bad credit, admit that up front, but explain how you can be trusted to pay the rent on time - be prepared to show how much money you earn, how long you've been at your job, and maybe provide a reference from a prior landlord or employer. You can also check bulletin boards at grocery stores or churches.

Good luck!
- Betty Best
- Long & Foster/Key Home Management
... more
0 votes 2 answers Share Flag
Mon Dec 6, 2010
Gerard Dunn answered:
Jason -

Probably should be looking at neighborhoods NOW to determine where you want to live. Once you have a neighborhood in mind - you should be looking 30-45 days out.

Good Luck!

If you like the answer - please consider making it a "Best Answer" !

Gerard Dunn
Associate Broker
Licensed in Maryland, Virginia and Washington, D.C.

Assisting Homebuyer's and Seller's for 28 years
703-216-9100
... more
0 votes 11 answers Share Flag
Mon Nov 1, 2010
Nicky McDonnell answered:
Hi LT,
Getting a pre-approval is the first step in your home buying process so that you know what you can afford. There are numerous reputable lenders to choose from and I would be happy to put you in touch with one of the best in the business. You are not obligated to anyone during your pre-approval process. I would highly recommend shopping around for the best fit not only with regard to rates etc. but also who you feel comfortable working with.
Please do not heistate to contact me with any further questions!
Sincerely,
Nicky McDonnell
... more
0 votes 12 answers Share Flag
Tue Oct 12, 2010
Jim McCowan answered:
With interest rates so low, now IS the time to buy, especially inside the beltway!
0 votes 9 answers Share Flag
Fri Oct 8, 2010
Gerard Dunn answered:
Yes. This type of setup is called an indemnified deed of trust or (IDOT) for short. This is a portfolio type loan that would be done by a local lender, not a FannieMae or FreddieMac product.

Alternately - you can get a mortgage on your existing property and use the funds for down payment and improvement costs on the new property.

Good Luck!

If you like the answer - please consider making it a "Best Answer" !

Gerard Dunn
Associate Broker
Licensed in Maryland, Virginia and Washington, D.C.

Assisting Homebuyer's and Seller's for 28 years
703-216-9100
... more
0 votes 11 answers Share Flag
Mon Sep 27, 2010
Nicky McDonnell answered:
Dear Bob,
This property was on the market in 2007 and was a short sale. It appears that they ended up renting the property. There is no current information in the MLS at this time. Did you see a sign on the property? Are you looking in this general area? I specialize in the Alexandria South corridor so I would be delighted to discuss your situation. Please feel free to contact me at 703-201-3318 or via email at nicky@cbmove.com. I would be happy to answer any questions.
Sincerely,
Nicky McDonnell
... more
0 votes 5 answers Share Flag
Tue Oct 12, 2010
Ciara Lascano answered:
Here is the General answer: No real restrictions but you will a landlord and will have to register with the state if you have 4 or more units. For more details please email me at info@ciaralascano.com. Thx ... more
0 votes 2 answers Share Flag
Sun Aug 15, 2010
Jim McCowan answered:
Which property are you referring to?
0 votes 1 answer Share Flag
Fri Jan 9, 2015
Stacy Carter answered:
Faye,
The Scandinavian style that IKEA offers is quite unique and may not be the safest of choices unless the style fits the overall architecture of the house and your other interiors.

Keep in mind, IKEA's low cost cabinets are well known and any discerning buyer will recognize the product and it may deter them from purchasing the home.

Hope this helps!

Stacy Carter
Associate Broker
Home Appreciators Real Estate & Renovations at
Better Homes & Gardens Real Estate Metro Brokers
678-641-6631
... more
0 votes 14 answers Share Flag
Tue Jul 27, 2010
Don Tepper answered:
Check with your broker.

The question probably comes down to the listing agreement that the seller signed with the agent. It's certainly possible that the agreement specifies that a commission is due UNLESS the purchaser came through the military site, or unless the purchaser is a member of the military.

As you know, it's pretty common in Northern Virginia for military folks to try to sell FSBO on the military sites. And sometimes they're successful.

But, to answer your question, the real issue is the agreement the seller has with the listing agent. You might be able to resolve that, frankly, either by asking the seller to allow you to review the contract, or by asking the listing agent. Your broker should be able to provide you guidance on that.

Hope that helps.
... more
0 votes 3 answers Share Flag
Mon Feb 6, 2017
Joanna Morris answered:
If they foreclosed in this market, there is most likely no profit.
0 votes 14 answers Share Flag
Wed Jul 14, 2010
Susan & Mindy Team, Realtors answered:
I can highly recommend http://www.waynewoodrealtors.com/ , who work and live in the area. These two agents are in my office and I consider them the "go to" agents for that area. ... more
0 votes 2 answers Share Flag
Mon Dec 6, 2010
Christopher Lefebvre answered:
It sounds like a bait and switch, but the rate that each person qualifies for depends on credit scores and other factors and program rules. Also, until you lock in a rate they could change daily. If you are not happy with this mortgage broker, then look around for another one if it is not too late. Rates are at historic lows right now.

http://www.bankrate.com/mortgage.aspx

Good luck!
... more
0 votes 14 answers Share Flag
Mon Dec 20, 2010
Gerard Dunn answered:
Steve -

In the past I would tell you a Construction Perm loan would be best. These types of loans are more difficult to find - but are still out there.

Check with your bank to see if they would allow a construction-perm on this property.

You will need to provide them the plans and specs -and an "as-built" appraisal will be done to determine the value of the property after improvements.

Once the appraised value comes back - the lender will loan you based upon the appraised value with the appropriate down payment.

The first draw will purchase the house from the seller. The contractor selected to do the work will than be given funds in stages (called draws) to complete the work. As one stage is done - the bank sends out an inspector to be sure the work is done - and than release the funds for the next stage of construction.

Feel free to call me to discuss. I can certainly help you to negotiate the sale too! I know Alexandria well.


Good Luck!

Gerry Dunn

Associate Broker
Maryland, D.C. and Virginia

gerry@MyPotomac.com
... more
0 votes 4 answers Share Flag
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