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Auburndale : Real Estate Advice

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  • Local Info11
  • Home Buying12
  • Home Selling1
  • Market Conditions5

Activity 15
Fri Jan 25, 2013
Shane Milne answered:
Mrs Swierzewski,

You are not required to have a bank account to get a mortgage - however any funds you bring in at closing (for the down payment, closing costs) need to be verified. So for that purpose you may need to open up a bank account and deposit your paychecks. However instead of using your own funds, you can get gifts from family for the down payment & closing costs. FHA mortgages are the most flexible in that aspect, and if you have a 650 score and are going with a lower down payment amount then FHA financing often is the best choice as it just requires a 3.5% down payment and all funds you need are fine being a gift from family.

Question, if you don't have a bank account - where do you deposit your paychecks? Or do you just take the paycheck down to the bank that issued it and swap it out for cash?

Shane Milne | Lending in all 50 states | NMLS #81195
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Sun Jan 27, 2013
edsflahomes answered:
For what use? horses?? cows? RV storage? 4 wheeler racing? lol
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Mon Jan 14, 2013
Antonio Vega-Pacheco answered:
This link will take you to the Trulia page that talks about neighboorhood info > http://www.trulia.com/real_estate/Auburndale-Florida/community-info/

Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
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Tue Oct 30, 2012
Alison Hillman answered:
Hi there!

I think you are referring to school districts, if so, check out Trulia's school maps here:

http://www.trulia.com/real_estate/Auburndale-Florida/schools/

Hope this helps!

Ali, Community Manager
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Tue Oct 30, 2012
Alison Hillman answered:
Hi there-

You can learn all about it here: http://www.vote411.org/enter-your-address#.UJAXR2k6WXQ

Hope this helps,
Ali, Community Manager
0 votes 1 answer Share Flag
Tue Sep 4, 2012
Linda Grey answered:
Lease option and owner financing are not done much in the area, while there are a few out there they usually run in higher price ranges than you would like to pay. Try looking for a property management office in the area and they will be able to tell you what kind of a rental you can get for the $1,000 you want to pay per month.

I hope that helps.
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Sun Apr 29, 2012
John Bennett answered:
FIRST STEP!

THINK!.

NOW IF THEY HAVE LEINS, YOU WILL NEED TO CLEAR THEM BEFORE YOU GET PROPERTY.

DO YOU WANT TO OWN A $200,000 CONDO FOR $600,000????

YOUR CONDO LAWYER SHOULD BE OF GET HELP, AND HE MAY RECOMEND A REAL ESTATE ATTORNEY IF HE IS NOT UP TO SPEED ON THESE ISSUES. ... more
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Thu Aug 16, 2012
Anna M Brocco answered:
Consider contacting the local Chamber of Commerce for recommendations, check with the Florida Bar Association--see links
http://www.floridabar.org/
http://www.chamberofcommerce.com/auburndale-fl/attorneys/ ... more
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Sun Jul 11, 2010
Anna M Brocco answered:
Much will depend on what "a good place to live" means to you. If you are not familiar with the area, do consider a visit--drive through the neighborhood(s) more than once and at different times of day, look at anything that is of importance to you, chat with locals if the opportunity arises, etc.; then make your determination, will your comfort level be reached. ... more
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Tue Dec 29, 2009
Al Akerman answered:
Dawn, the answer to your question is that yes, you would have to start the process over, but I don't know why you would.

I hate to come on strong on you, but you are in a declining market. If the appraisal came in at $116,100, then you shouldn't be paying more than that-unless the appraiser is way off, which is often not the case.

If you are asking about a HomePath mortgage, that would mean that the house is owned by Fannie Mae (HomePath is only offered on Fannie Mae homes).

They make their guidelines a little easier so that they can unload their homes. That doesn't mean that the house is worth buying.

What would happen if you needed to move and sell the home? Any potential buyer would have to do an appraisal and wouldn't be willing to buy the home from you.

It is never wise to pay more than the value of the home unless you must live in that specific area and can't find a similar home for that price.

You said that you were getting and FHA loan. That means that the seller would have signed an "ammendatory clause" which gives you the right to walk away from the deal and get your deposit back.

If you have to pay a few thousand more then I can understand. If not, you should strongly consider walking away and looking for a different home.

I hope this was helpful.

Good luck.
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Tue Jul 29, 2008
Brent Bester answered:
Tina,

I have done them before FHA 203K Is a great option for this depending on what you want to do. I would suggest contacting a local banker. I would also be more than happy to help.

Brent Bester
Mortgage Professional
Union Savings Bank
614-622-8916
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Thu Jun 23, 2016
Phil Fowler answered:
Hello Tim,

I suggest that you hire a Realtor. Water Ridge is a great community. Is it lakefront?
To sell the lot it needs to be marketed properly to attract not only local buyers but also international ones.

If you care to contact me I can price the lot for you.
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