Choose your agent with care--interview a few agents from different realty companies, then choose the one you like best-- ask about scheduling around your needs, who will choose the properties to be seen, can you expect updates on new listings and recently sold properties, and how often will communication occur, etc. Ask about current sales in your areas of interest, negotiating strategies, etc. Buyers should be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. If you need assistance, feel free to contact me directly.... more
You will need to talk to the title company that is doing the paperwork for you. There are usually attorney fees, doc prep fess, courier fess etc. They should provide you with an estimated (HUD-1) closing document that outlines all fees. Best Wishes!
Century 21 Judge Fite Company
Since you already have the cash and once you are preapproved any of those areas would be a great place to begin looking. Each of them offer a very lucrative rental market and a potential for you to have a great return on your investment.
I would strongly recommend that to hire an agent to assist you with your search.
Best of luck.
Licensed Real Estate Agent
Email: firstname.lastname@example.org... more
You know, before your question, I never heard of a "family opportunity mortgage", so thanks for your question because I just did some research and educated myself. It seems you can try Chase (if they still do it, they had a press release on line from 2007 and with the recent problems getting mortgages ...) But it seems that you take out the loan according to your credit score but that your mom's income (benefits) would have to cover it. Good luck!
Century 21 Princeton Properties
Your attorney can advise you best, and it appears that you already asked him/her the question, and that you are being advised to close only upon title clearance--therefore, listen to your attorney--not knowing all the details nor how much money is involved--is the seller planning on paying off the lein at closing I wonder--either way your attorney can best advise you as to how to proceed, terminating the contract, etc.... more
When you negotiated the price on the unit, did they disclose to you anything about closing costs? If you were given a copy of their offering plan to look through, which would contain this information, then I would say that you most likely will not be able to negotiate. The offering plan is generally in the form of a soft cover book, and is rather lengthy, so you may not have even read it if you were given it for review. If, however, the selling agent did not give that document to you, and did not disclose to you the costs that you would have to bear, I would say that in this market, you could still negotiate. I don't think that a selling agent should expect you to know that a buyer is typically required to pay the NY State and City tranfer taxes for the seller on new construction, plus additional costs for attorney fees, sewer hook-ups, you name it, it could be in that document.
Keep in mind, you have not signed a contract yet, so anything can be worked out.... more
Finding a loan for a condo in which the community is predominantly tenant occupied may be difficult. Most lenders require that a certain percentage of the complex be owner occupied (more owners than tenants). Keep in mind, even if you are purchasing this condo using all cash (no loan contingency), when you go to sell it, a potential buyer will face the same challange you face now - owner vs. tenant occupancy and lendability.
Coldwell Banker - Folsom, CA
(916) 622-7337... more