depends on the extent of the work, the cost of the work, the time it would take to do the work and your comfort level with who would be doing the work.
Also remember that a discount in the price is only equal to the amount of the % of the cash you are putting into the deal. ie your putting 10% down payment The cost of the work is 10000 your cash value would be 1,000
So if you are going to do the work yourself which I recommend that way you know the quality of the work, it is my suggestion that you get cash back at the closing to do the work, that way you are getting the full value of the work that needs to be done.
Problem is that the lender may want the work done prior to closing, and if spelled out in the p&s it could raise red flags and will be taken into consideration in the appraisal.... more
It never hurts to ask. It depends case by case, but if the lower appraisal puts the loan approval at risk, then it is likely the seller would be willing to renegotiate since the alternative would be for you to back out with full return of deposit.
Of course, it would help if there was terminology in your P&S that specifically protects you in the case of appraisal coming in under purchase price.... more
The residential rate for Lawrence is $14.xx per thousand, even at that rate a pool even one valued at $20K would only be $280-$300/yr. You should find out if it's being counted into the property assessment. Your buyers agent will be able to handle this with you and what your game plan is going forward.... more
Kind of backwards to make an offer to be able to see the other unit.
It is nice though to have a tennant that is in there assuming they pay rent on time. Only issue would be if they are paying lower than market rent. You have to weigh good tenent/lower market rent vs trying to find a tennant yourself.
I would advise you to consult a real estate attorney so you can get a handle on what to expect as a land lord.... more
If is listed for sale? If it is you should engage a realtor to help you write an offer.
If it's not listed for sale, you can certainly approach the seller...but I would still advise you to engage a realtor to help you evaluate the house, get all the required disclosures, determine a market price, and negotiate.
Not sure about all of your questions but some Banks do want to see 2 months of statements to evaluate the Loan. However, I am fairly certain a pre-approval is in order. 401k money or other liquid securities could make up the difference. Best of Luck!... more
Hi Mia, the fee is 282/month and the fee includes: Heat, Hot Water, Water, Sewer, Master Insurance, Exterior Maintenance, Road Maintenance, Landscaping, Snow Removal. This is also a short sale. firstname.lastname@example.org... more
Hi Susan...I don't know if you are talking about dewinterizing a property for a home inspection like a foreclosed property or not. It may be up to the bank and who they use as a property management company. I was quoted recently about $ 500.00 to dewinterize and rewinterize a property in Ashland Ma. However, when they tried to do so, they found the pipes to be burst and the furnace no longer working as it may not have been dewinterized properly. I am thinking this would be up to the individual bank if a foreclosure and their maintenance company. Good luck and hope this helps.... more
I work in the area and here is a link to my website with local 2 mortgage brokers that I would highly recommend. They are both licensed in MA and NH. Give them a call and they will be able to tell you pretty quickly if you can qualify. Feel free to tell them that I gave out their names. Good luck!... more
If you are looking to sell, consider inviting a few local agents from different realty companies and ask for a cma, comparative market analysis; review the data, ask opinions and determine worth; cma's are provided free of charge by most agents.... more
I would recommend calling a loan officer. They can review your financial situation and provide advice from there.
If you need any recomondations , let us know, we are happy to help !