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Home Buying in Allen : Real Estate Advice

  • All150
  • Local Info16
  • Home Buying53
  • Home Selling1
  • Market Conditions1

Activity 71
Mon Sep 14, 2009
The Hagley Group answered:
Your loan consultant should have factored all of that in for you. Ask them for a good faith estimate on what it's going to take to close.
0 votes 7 answers Share Flag
Fri Sep 11, 2009
T.E. & Naima Sumner answered:
Kathy,
Only your loan officer can answer your question. Any answer here would pure speculation.

Your loan officer knows your file and your situation. As long as you haven't closed yet, it is not too late. Have you discussed the different scenarios with your loan officer prior to this? Also doing a second loan means that your closing costs will be higher too. So get the GFE (Good Faith Estimate) from BOA with both scenarios with 5% down which will include PMI and doind and 80/15/5 without PMI. That GFE will explain exactly all the fees you are charges and how they will be disbursed.

I'll be happy to assist you if you have further inquiries.

Naima
214-289-8555
Naima@Sumner-Realty.com
... more
0 votes 8 answers Share Flag
Thu Aug 27, 2009
answered:
You were issued a policy when you purchased your home. It protects you should there be a lien against the property before you bought it.
After you pay off the mortgage.... that policy is still valid.

The property is already in your name.
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Tue Aug 25, 2009
Jerry Holcomb answered:
Hi Kathy:
Great question, Foreclosed/HUD homes are different than buying from the real person that owned the home.
1, The Bank/HUD that owns the home has hundreds in not thousands of homes for sell and that home is just a number to them in a pile of files on their desk. Expect delays in response from them.
2, you have little negoitation before or after the offer is made.
3, Most homes have sat vacant for some time now and repairs you may not see are possible.
4, when dealing with the actal home owner they most likely have another home (only one) they want to buy and need to sell NOW. The Bank does not.

In most cases yes, the highest bidder wins however, special treatment is given to Public safety, Nurses & teachers.

You will have to be pre-approved with a leter from the lender usually sent with the contract. HUD or the Bank does not look at your credit only that you have been pre-approved.

Now, timing is an issue most will give you only a short time to inspect the property before option period is over so you need to move quick to have an inspector really check out the house, foundation, HVAC etc.
Then they will require loan docs 3-8 days in advance so they can sit in the pile of other contracts to review.

Plan on asking for more than 30 days to close the financing to be safe.

So, If I haven't scared you off of Foreclosure/HUD homes let me keep going.

Yes, you can get a deal on a HUD home and we really need people to live in these homes. It helps the neighborhoods out and down the road you will have a beautiful home.

If you have more questions send me a note to jerry@DallasFHAloans.com
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0 votes 6 answers Share Flag
Sat Sep 12, 2009
Dorene Slavitz answered:
It is customary to sign a contract when working with in buyer agency. You are not "stuck" with this agent, as you can or cancel the contract by mutual agreement. It would be wise to also begin your financing by getting a pre-approval from your bank, or working with your Buyer Agent to obtain one.
I haven't heard about the $200 fee before. I would suggest you call the Broker and ask about the details of that fee.
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0 votes 24 answers Share Flag
Thu Aug 6, 2009
Monika Kaiser answered:
Hello Kim,
if you follow this link you will find all the information you need: http://www.weichert.com/firsttimebuyer/.
But hurry up you have to have settled by Nov 30, 2009.
0 votes 10 answers Share Flag
Thu Nov 20, 2014
T.E. & Naima Sumner answered:
One of the big builders there declared bankruptcy and their homes have ended up in foreclosure. That hurt the community big time. Some of their homes are still for sale at veyr good prices.

Naima
214-289-8555
Naima@Sumner-Realty.com
... more
0 votes 6 answers Share Flag
Sun Jul 26, 2009
Grace Hanamoto answered:
Hello Josh and thanks for your email.

First, this is certainly a "step forward" in moving toward a successful short sale. Once the documents are submitted, a negotiator of mitigator is assigned to the file. However, there are many other hurdles that must be surmounted in order for the sale to be approved, so, while learning that a negotiator has been assigned is excellent news, it does also mean that there will be additional "wait" times. Plan to be patient while the negotiator reviews the file, orders a BPO, checks the financial records of the seller, verifies liens against the property, and determines if the sales price is adequate to cover the bank's losses. This situation can also be complicated by the presence of an additional lender (second loan) on the property.

Good luck--be patient and stick in there!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
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0 votes 6 answers Share Flag
Thu Aug 27, 2009
Dallas Texas answered:
Home is listed in MLS for $175K unless an agent on property difficult state true value . It appears right at approx. market value without any further research.

Direct Link other homes in same area:
http://sites.google.com/site/dallasbankforeclosureslistings


CONTACT OUR OFFICE TODAY
972-699-9111
Lynn A. Crosby ~ National Featured Realtor
Follow me on Twitter: http://twitter.com/Lynn911
"...Specializing in Residential, Commercial Properties and Loans..."
Dallas Realtor, and Credit Repair Consultant -
The Michael Group - "Dallas Business Journal 07’ & 08' list top realtors"
Dallas Loan Officer -
Dallas Real Estate Website: http://www.lynn911.com 60,000 listings Dallas homes for sale
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Mon Aug 10, 2009
Dallas Texas answered:
It all depends on the property, construction, Texas is very dry in summer time water of lawns based on water restrictions. Not all homes have foundations issues.

There are some areas of Dallas OR historic areas have issues.

Happy to assist you. http://sites.google.com/site/dallasbankforeclosureslistings

CONTACT OUR OFFICE TODAY
972-699-9111
Lynn A. Crosby ~ National Featured Realtor
"...Specializing in Residential, Commercial Properties and Loans..."
Dallas Realtor, and Credit Repair Consultant -
The Michael Group - "Dallas Business Journal 07’ & 08' list top realtors"
Dallas Loan Officer -
Dallas Real Estate Office: (972) 699-9111
Dallas Real Estate Website: http://www.lynn911.com 60,000 listings Dallas homes for sale
... more
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Tue Jul 21, 2009
Barbara Capobianco answered:
Fortunately the average has gone up in a month to 81.22. This is an excellent community! This particular property is listed a little higher since it seems to be a premium lot. If you are not working with a Realtor? Please feel freee to call (972) 757-4527 or email me at Barbara@powerteamtexas.com ... more
0 votes 1 answer Share Flag
Fri Jun 5, 2009
T.E. & Naima Sumner answered:
There are different schools and you should compare lot sizes.
The prices for a Grand new build in Parkside is about $350k.
The Grand new builds west of 75 is priced at nearly $400k to nearly $500k.

However, the square footage on the ones west of 75 seems a lot higher.
... more
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Sat May 16, 2009
Dallas Texas answered:
Your mortgage broker should be able provide that information to you.

Refer to county website

National Featured Realtor and Consultant, Mortgage Loan Officer, Lecturer regarding Credit Repair
Lynn911
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Mon Mar 16, 2009
Sandra Smith answered:
I would first need to know the address of the property and then I will be able to find what comparable homes are selling for. This would give you an idea of the market value. As for the offer that will win the prize, there are many variables that will go into this...as you stated it sold for 239K, but how much work and materials were put back into the house and how motivated is the seller to sell. If you need further assistance, please feel free to contact me and I can send you comps to help with your decision.
Thanks,
Sandra Smith
Epps Realty
972-989-0464
sandra@eppsrealty.com
... more
0 votes 1 answer Share Flag
Fri Apr 3, 2009
Terri Hayley answered:
A good agent who knows the area should be able to help you with what you are trying to do. The biggest challenges with foreclosures is speed, patience and attention to detail. Most of the REO asset managers (foreclosure sellers) have their own forms and documentation that they want completed. You want to make sure to get your offer in quickly and be low enough to get your deal but high enought to convince the asset manager to move foreward before other offers come in. We have helped many buyers negotiate deals with REO asset managers as well as negotiated several short sale deals as well. We are an REO agent and have many relationships with several of the asset managers in the North Dallas area. We have succefully negotiated foreclosures in Richardson, Dallas, Carrollton, Firsco, Plano, McKinney, Allen, Coppell and Irving. We would be happy to assist you with the negotiation. Just call our office`or email me for more details. ... more
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Thu Jan 22, 2009
Terri Hayley answered:
Da,

Only the items the buyer wants repaired need be shared with the seller. If it's the seller's inspection report, Texas is a full disclosure state and must share with the buyer.

Does this clear it up?

Thanks,
Terri Hayley
Keller Williams, The Hayley Group
... more
0 votes 8 answers Share Flag
Fri Jan 16, 2009
Scott Godzyk answered:
The title insurance will assit in clearing the title for you. If someone makes a claim to the property, they pay for the attornies to fight on your behalf, they dont just fork over $300,000 . In most cases with title problems you see a mortgage payoff/release not filed, a death certificate not filed, a former sales not recorded. That is why they do a title search prior to attempt to find these. If it is clear they issue the clear to close and a title policy for the lender and for your protection if you choose whoch is the best insurance you can purchase. good luck with your purchase. ... more
0 votes 6 answers Share Flag
Thu Mar 4, 2010
Dana Schuster answered:
No,the seller is not required to disclose that information.
0 votes 16 answers Share Flag
Mon Feb 24, 2014
Jeff Kessler answered:
I sold two Standard Pacific homes here in Austin and both my clients like them.

If the home is a too be built the builder will usually not negotiate. If the home is on the ground they will usually negotiate then.

I have a rebate program if you are interested. That will help you get some cash back.
Please give me a call or email to find out more.
Jeff
... more
0 votes 7 answers Share Flag
Thu Jun 18, 2009
Marcia Levine answered:
Hi Ginger,

Welcome to Texas! In order to help you in the best way, it's important to know all the things that are important to you in a home. How many bedrooms, baths? Is square footage important? What about a yard? The first thing I do with my clients is sit down with them and find out what their expectations are. There are homes in Allen in that price range-you'll just want to narrow it down.

Please let me know if I can help you in any way!
Marcia Levine
... more
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