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68516 : Real Estate Advice

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  • Home Buying1
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Activity 38
Wed Jun 29, 2011
Gina Swan answered:
Check with a mortgage company or local USDA office regarding a USDA loan. The property would have to qualify. Additionally, you'll want to ask the mortgage company if any type of scholarship monies, etc., your husband may be receiving could be considered income and help in getting the loan.
Good Luck!
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Mon Feb 28, 2011
Deb Danielson answered:
Since there is no referrence to the house, do you know the address? Thanks. Deb
0 votes 5 answers Share Flag
Mon Jan 24, 2011
Ray And Karen Levy answered:
Mindy,

You have asked a question on a lot of peoples minds.

The bottom line is it depends on what triggered the bankruptcy. (health, unenployment etc.)

You want to work with a LOCAL lender in your community that also speicalizes in credit repair.

I hope you are in a new home very soon.

Take care,
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Mon Apr 12, 2010
Sean Dawes answered:
Gwyneth,

It isnt necessarily the price that it is listed that matters...what the true value of the property is what matters.

If you do not know how to comp a house, I suggest you reach out and use a buyers agent to help you with this process.


Sean Dawes
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0 votes 8 answers Share Flag
Thu Nov 5, 2009
Jane Summers asked:
Wed Oct 14, 2009
Bill Eckler answered:
This is a question best directed to your personal agent. He/she should have enough background on this situation to be able to advise you. Answers to these question may help you make your decision:

1. Has the "short sale" paperwork been completed and submitted?

2. Have the owners filed "a letter of hardship?"

3. Has the home been appraised by the bank?

4. Has a "loss mitigator" been appointed to your case?

5. Has the bank agreed on a possible price?

6. Is the bank taking calls and answering questions?

7. Does the owner have multiple loans?

8. Are there additional extenuating circumstances with this situation?

Good luck

The Eckler Team
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0 votes 3 answers Share Flag
Sun Jul 19, 2009
Ellen Cerasuolo answered:
Yes When you purchase any home with a loan; the lender requires a termite inspection. So when the inspector goes out he will note the previous damage; but most importantly, whether or not there is "activity" with new damage. If there's no sign of "present activity" it will become a noted statement of "previous activity and sign of treatment". If there's not a sign of it being treated; just old tunnels....usually treatment is required as a preventative. Even though ther may not be any activity. This is for the protection of the property. They drill holes in concrete around the home; and they chemically treat. Any wood damaged that shows sign of termites will be replaced; as a beam or post could be replaced. The inspector will know. ... more
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Tue Jun 30, 2009
Matthew O'Shea answered:
Thomas,

I have some ideas that may be of use to you in this situation. Do you currently have a Realtor? If not, I would love to help you in your situation. If you do have a Realtor, I would suggest you work out your situation with them. ... more
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Wed Sep 15, 2010
Michael Culver answered:
You could advertise a seller "buy down" of the interest rate. This can be cheaper then a further price reduction and can lower a buyers initial interest rate as much as 2 points. Call a local lender for details on this. The lender may even be able to produce flyers for you offering special financing programs depending on your price point. ... more
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Fri Sep 3, 2010
Isaac Bensussen answered:
Amybeth; My advice would be to find a Real Estate professional to represent you in the area where you want to buy. It is not going to cost you a penny. He will help you out with everything that you need to know starting with showing you the property, giving you his input as to how much to offer. If it is a Bank owned property, the Bank will answer you fairly quickly. Sometimes in as little as two days. Sometimes they take longer. Also, depending on the area and the amount of foreclosures that are for sale, will give you and your agent an idea of the competition and the price to offer. If Bank owned houses are selling very rapidly, sometimes with overbidding wars, you have to offer a little more than the asking price; but of course, it all depends if the asking price is very reasonable to begin with. Other areas are languishing with foreclosures for sale. Ask your agent to ask the Bank agent if the home has received other offers. ... more
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Sat Feb 7, 2009
Dana Schuster answered:
He is correct. All contacts with listing agents are made by your agent. The other agent cannot ethically speak to you. And most of the time,offers are submitted without the agents talking first,except to alert the listing agent that a contract is coming in. ... more
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Fri Jan 7, 2011
Patricia Ruiz answered:
No, I'm my opinion it is not. There are several sites that you can go to to find foreclosures. Many of them are bank websites and it's free. Such Wells Fargo, Ocwen, Countrywide. I'd be happy to give you some websites. Not sure if I can post them though. Are you currently working with an Agent? He or she should have access to at least the MLS foreclosures. ... more
0 votes 10 answers Share Flag
Tue Jul 26, 2016
Jim Walker answered:
I don't have the answer for Chris, but I am putting this here as a placeholder to refresh the question. You FHA203K processors out there: Does the 203K streamline work like a construction loan with progress payments, or is it more like an escrow holdback and the money comes after all the work is done? ... more
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Fri May 21, 2010
Matthew O'Shea answered:
Kiffany-

There is a lot of incontinuity in the neighborhoods of Lincoln, NE. Depeding on which neighborhood you are looking in, you will find homes that range from $200k-$300k, surrounded by townhomes and an aparment complex. To find the avg price per sqft of what you are looking from is going to require that you find which area of Lincoln you wish to live. Then you will be able to find a more valid price per sqft, as oposed to trying to get an overall avg.

Having said that, in a nice neighborhood with good continuity I would say you will find the avg price per sqft in a range of $110-$150 per sqft.

If you ever need to call on my professional assistance to answer any of your questions, feel free to contact me directly through this site, or email me at osheamatt@palincoln.com
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Tue Sep 16, 2008
Jeff and Ginny Mitchell answered:
Sometimes buyers can make a good purchase in this way. One needs to be well-informed though to inspect the property, investigate possible problems, know the area, and current market values before yidou become emotionally involved in the excitement and overbid. In addition, you need to learn the local laws on original owner reinstatment. The time frame can vary and extend even AFTER you have closed on the purchase. Good luck to you! ... more
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Thu Feb 18, 2016
Rhonda asked:
We had two different short sale offers the 1st one they denied. They ordered 3 BPO's on the property. The second offer was higher. They assured me the sale would be post poned. I we...
0 votes 1 answer Share Flag
Sat Oct 13, 2012
Jim Walker answered:
This question posted to Lincoln, CA by mistake: I searched Trulia Member Search Beta for you and came up with only one pro with a contact # in Lincoln, Nebraska :

Bobby and Helen Russell
Contact Info:
Direct Office: 402-436-3245
Email: helen.russell@homerealestate.com
Out Of Office Email: yourcondoqueen@yahoo.com
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Thu Apr 17, 2008
Sandy Shores answered:
You may want to check the public transportation website http://www.publictransportation.org/systems/Default.asp to determine whether or not the information you are looking for is available there. ... more
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