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53072 : Real Estate Advice

  • All9
  • Local Info0
  • Home Buying6
  • Home Selling1
  • Market Conditions0

Activity 4
Fri Mar 22, 2013
Kawain Payne answered:
Hello,

You may apply for the loan without using your wife, if you do not need her income to qualify.

Remember the credit score is one factor in deciding on a loan approval. Other items examined are:

Your income
Debt to income ratio
Down Payment amount

Now with regards to the community property issue. If you buy the home without your wife on the loan she may have to sign a quit claim deed in order to get the loan funded. You can in turn sign a grant deed adding her to the title.

Your escrow officer can take care of both deeds for you. In this case your wife would only be off title for a few days.

If you need your wife's income, then she has to be on the loan.

Best of Luck To You!!!
Kawain Payne, Realtor
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Mon Jan 5, 2009
Karen Wenzel, e-PRO answered:
Julie,
my understanding is that if the home has not been taxed by the municipality - then you do not have to pay the property taxes for the year that you close. This actually was the case for a client of mine- in 2007 they purchased a home that was owned by a church and was not taxed by the city. In 2007 they paid no taxes on the home, but in Jan 2008, the city came in, did an assessment and they got a tax bill for 2008.

All the Best to you!
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Tue Feb 8, 2011
Dallas Texas answered:
An agent assisted in locating a home on your behalf has registered you as a buyer with listing agent. All agents do deserve commissions are paid by seller at closing. The amount paid of 2.4% is little low vs. the national average of 3% paid to buyers agent. Signing a buyers agreement standard practice. Sorry if there is confusion it does not sound as though you are blackmailed. However she could come back and sue if your went around her and purchased the home. Unconfirmed I am only basing info. off your authored statements. Perhaps speak with buyers agent broker who might be able to clarify any misunderstandings
http://www.lynn911.com http://www.homes-for-sale-dallas.com
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Fri Feb 13, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
I am assuming we are talking about W234N3362 Harvest Lane, Pewaukee, Wi, The property sold on 10/14/08 for $522,000 after being on the market 35 days.
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