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Home Buying in Omaha : Real Estate Advice

  • All383
  • Local Info29
  • Home Buying120
  • Home Selling35
  • Market Conditions12

Activity 58
Tue Apr 16, 2013
Kyle Schulze answered:

Congratulations on taking the steps to purchase a home!! You must be very excited.
Every situation is a little different in regards to the closing cost but some of these costs may include:

Loan Origination Fee
Appraisal Fee
Credit Report
Recording Fee
Wood Infestation Inspection Fee
Plot Plan/Survey
Title Insurance
Home Protection Plan/Inspection Fee
Escrow Closing Fee
Professional Services Fee
Broker Compensation
Lender Fees (commitment, closing, etc.)
Loan Discount Points
Homeowners Insurance, First Year
MIP/PMI/VA Funding Fee, First Year
Tax Proration
Interest Proration
Homeowners Insurance Escrow
MIP/PMI Escrow
Tax Escrow
Earnest Deposit
Loan Application Fee

I know this is a long list and a little overwhelming. However, many of these fees may not apply in every situation. In total closing costs are about 3.5% of the purchase price. It is also common for buyers to ask the sellers to cover some or all of these costs as part of the purchase.

Our team can sit down with you to answer any questions you have, in depth, regarding closing costs or any step of the purchasing process.

-Kyle Schulze
The Tabai & Schulze Team
NP Dodge Real Estate
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0 votes 10 answers Share Flag
Thu Oct 24, 2013
Kathy Miller answered:
Looks like no one wants to answer your question. And, really, that's not the right question anyway. It is not unusual for it to take a while to get the accepted contract back from the seller when it is a foreclosure. If having someone look at the basement is part of your contract, I am sure the listing agent is working on getting that done. Unless it's an unusually large crack or the concrete is heaving, it probably won't be an issue for FHA. If the crack is not a contingency in your contract, you just wait for the appraisal.

Your contract probably does call for a penalty if you do not close on time. But that's if the hold up is your fault (e.g. the lender cannot get it done in time). If the seller causes the delay , your buyer's agent should ask the listing agent to prepare an addendum to the contract extending the closing date. Ask your buyer's agent to process the file without the formal acceptance, so that the title company can go ahead with the title search. Ask your lender to proceed with processing your file and getting the appraisal ordered. Three weeks is not a lot of time, but should be okay if everything gets ordered this week. Your role is to respond to any of your lender's requests in a very timely manner. If they ask for any additional documentation, get the information to them asap. In my experience, delayed closings often are caused by buyer's not getting everything in that the lender needs.

Remember, everyone involved in the transaction wants you to close. They don't get paid until that happens. There is absolutely no reason to believe anyone would want to stall the transaction. If your lender doesn't believe they can get the transaction completed in three weeks, that is a different story. Some lenders who work through out of town mortgage companies can take longer than a local lender. If that is the case, you should let your buyer's agent know and ask them to see if the seller will extend the closing date.
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Sun Mar 24, 2013
Billie Atkinson answered:
Taxes in Douglas and Sarpy county are always 1 year behind. Info for you is provided below.

In all Nebraska Counties, the taxes on residential real estate are paid in the year following their
assessment or in other words the taxes are paid in arrears. Stated another way, real estate property taxes levied
and assessed in 2012 are paid in 2013. The year in which the taxes are paid is called the year the taxes become
“delinquent”. For example, the 2012 real estate taxes are delinquent if not paid in 2013.
By further explanation, sometime in September of each year the County Commissioners send to the
County Assessors, the tax rate which is expressed in a percentage form or expressed as a dollar amount for every
one hundred dollars of assessed value of the property. The County Assessor then prepares the real estate tax
statement by multiplying the tax rate by the assessed valuation of the property. The result is the amount of taxes
on the real estate, which will be due. These tax statements are completed by the middle of December. Refer to
chart below for county specific information.
When real estate is bought and sold, the real estate taxes must be prorated. Since the real estate taxes
for the year in which the closing takes place are not known or capable of being known until very late in that year,
it has been the custom and practice in Nebraska to prorate the real estate taxes for the year in which the closing
takes place based on the prior year’s taxes. Your purchase agreement states how your taxes will be prorated.
In Douglas and Sarpy Counties, all real estate taxes which become delinquent in the year of the closing
are treated as current taxes. The taxes paid at closing are the taxes for the prior year which will become
delinquent in the year of the closing. Any real estate taxes for the period after the date of proration as set forth in
the purchase agreement will be the responsibility of the buyer, even though those taxes may be for the prior year
during which the seller occupied the property. This is the practice in Douglas and Sarpy Counties and has been
for many years the local custom.
Note that for NEWLY CONSTRUCTED HOMES, the Assessor may or may not have entered the home
on the tax roll. If the fully completed home is on the tax rolls, you will start paying the full taxes immediately
after your purchase is closed. If the home is not completed, the taxes you pay on closing may only be taxes on
the unimproved lot or the partially completed home. Your agent’s statement that you may be assessed any taxes
other than lot taxes, or that you will have only lot taxes for a specific period of time is based upon what the
Assessor’s office stated to the agent. Your agent has neither the authority or ability to control the date newly
constructed homes are assessed, placed on the tax rolls, or when taxes will be first due. Any statements regarding
lot taxes are therefore only predictions by your agent based upon information furnished to him or her from the
Assessor’s office. Any questions you have that are not answered by your agent should be directed to the County
Assessor’s Office.
County Taxes Become Delinquent On: County Assessor’s
First Half Second Half Phone
Douglas April 1st August 1st (402) 444-7103
Sarpy April 1st August 1st (402) 593-2142
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0 votes 7 answers Share Flag
Fri Mar 22, 2013
Simon Campbell answered:
The purchase of your home is one of the largest purchases you will ever make. So, do not worry about taking your time to find just the right house. Your real estate agent is working for you. As long as you have been upfront with exactly what you are looking for, then your agent should not get annoyed.

They are probably frustrated that they cannot find you a good home. Maybe they are even hoping you will not get annoyed with them.

Continue to work together and you will find the right home. You could look at FSBO's, many will accept are realtor's offer and pay 3% commission to them.
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0 votes 9 answers Share Flag
Mon Feb 11, 2013
Suzan Downing answered:
Hi Laraine. It depends on your debt-to-income ratio and the usual qualifying factors such as credit score, etc. It would be best to get with a lender to determine your ability to purchase a home here in Omaha. If you need the name of a few local lenders, send me an email and I will provide contact information. Also, let me know if you would like me to set up a search. I would love for you to consider me when choosing a Realtor to help you through the home-buying process - you won't be disappointed!

Best regards,
Suzan Downing
Keller Wiliams
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0 votes 7 answers Share Flag
Sat Mar 23, 2013
Jerod Evanich answered:
I live in Millard, area code 68137. I would love to help you find a home. Land contracts a few and far between in this area though. Contact me and we can discuss your options. Jerod Evanich #402-681-6911. ... more
0 votes 2 answers Share Flag
Thu Jan 24, 2013
Rusty Johnson answered:
The Omaha average has been 60-70 days over the last couple of years. With the interest rates appealing to people, it has been falling below.

The better question to ask is, "Is your home equipped to sell in 30 days?". There is generally a reason why one home takes 50-75 days to sell, and another in the same neighborhood sells in 20. In fact, there are many reasons. Price, condition, functionality, location, etc.

If you are having troubles selling a home or looking for some quick, free advice, don't hesitate to contact me. A great agent will be able to tell you what to expect, and how to get quicker results.
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0 votes 3 answers Share Flag
Fri Jan 18, 2013
Didi Pache answered:
Unless you signed an exclusive agency with that Realtor, there should be no fee.
0 votes 8 answers Share Flag
Tue Jan 29, 2013
Michael McGlynn answered:
Absolutely! I help consumers with ratio pre-qualifications. Call/text or email me to set a free appointment. Michael McGlynn 855-257-3294 or
0 votes 9 answers Share Flag
Sun Jan 20, 2013
Erick Gale answered:
Hello Alez

I just wanted to inform you that with an FHA Loan of this ammount the minimum you would have to put down is 3.5% or ($6300) with a Conventional Loan the minimum you would have to put down is 5% or ($9000). Here at NP Dodge Real Estate Sales, Inc at the 35 Dodge Office we have an in house loan officer you can speak with. Call me with any questions you may have about any homes in this price range you may wish to see as I have access to every home available in Omaha by any company. Thank You for Any Opportunities You May Provide. ... more
0 votes 5 answers Share Flag
Tue Jan 15, 2013
Brian Rayl answered:
I can't help you with finding a home, but I can give you some advice.

Draft up a heartfelt letter of explanation. Explain exactly what happened, what the circumstances around the incident, how the person has not had any other issues since then, is no longer on probation, and why that type of incident won't happen again.

You may have to offer a larger security deposit or add a little bit extra to the monthly rent. You can also get referrals from your previous landlords and ask them to write a letter for you along with their contact information saying that you were an outstanding tenant, etc.

Give them this letter when you submit your application so that they are not surprised when they pull the credit report and background check. This will show that that you are not trying to hide anything.

I wish you the best of luck in your situation. I know it can be difficult.

Brian Rayl
B&B Realty Group - Keller Williams Elite Dallas TX
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0 votes 3 answers Share Flag
Mon Dec 10, 2012
To answer your questions: 1. Depends on your current situation. If there are credit issues and you are working with a good credit repair company and you are not creating new derogatory entries, you
can be ready normally between 6 months and 2 years. 2. This is dependent on two things depending on how you are talking about it. Between you and the seller, it depends on your contract. For loan underwriting purposes, the amount you get credit for rent is the amount over the market rent rate that you are paying to the seller under the contract as down payment. Just because the contract calls it down payment, doesn't mean the underwriter will give you all that amount if you aren't paying the market rent rate. 3. If you use USDA on a rural property, $0. If you use VA, $0. Using FHA, you would have to have $3,500.00 of your own money (or gift) in the deal. Using conventional, in most cases you would need 5% down ($5,000.00) or if you qualify 3% down ($3,000.00)

I hope that helps. If you have any other questions, you can call me at 402-333-5432 or email me at


Dennis W Clark
Freedom Lending, LLC
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0 votes 1 answer Share Flag
Mon Dec 10, 2012
kenneth Landolt answered:
Lenders usually require that they pay your taxesbut the good news is you usually get a slightly better rate for them to use your money. If you are putting 20% down you get the option to pay your own. Call Steve Winteroff at Enterprise Bank he is very knowledgeable and will give you a great rate. 250-6342 ... more
0 votes 3 answers Share Flag
Thu Nov 14, 2013

FHA is the right choice for you. In our current economic conditions its going to be hard to obtain a conventional loan with your current credit score with just 5 percent down. FHA can easily be obtained with a minimum score of 640 possibly as low as 580 with just a 3.5 percent downpayment. Almost all local lenders do FHA loans (which are backed by the federal government) which will get you on your way to home ownership. ... more
0 votes 17 answers Share Flag
Sat Dec 15, 2012
Michael McGlynn answered:
Call, text or email me, Mike McGlynn @ 855-257- 3294. We'll sit down together and evaluate your current situation together. We'll work together to create a plan on how to get into a brand new home! ... more
0 votes 10 answers Share Flag
Sat Dec 8, 2012
Summer Martin answered:
My mom bought a celebrity home 13 years ago. No issues except some regular maintenance. I sell Celebrity homes because they are affordable, pay your closing costs, they are brand new, include all your appliances. I think it's a great deal and refer my clients to them all the time. If you are interested in seeing them contact me at 402-359-0284. Or ... more
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Sat Dec 15, 2012
Johnathan O'Gorman answered:

Have you had a chance to take a look at the different school districts in Omaha. There are several, all with different pros and cons. I can email you a list and resources that would allow you to gain a better understanding.

There are a few significant differences between convention and FHA. With a good credit score as long as your monthly expenses are low a conventional loan is probably best.

Taxes vary depending on the type of community you are looking to be in (new construction, area etc) and the county. I would be more than happy to email you a few sample properties to show you the variations.

Let me know if that is something you would be interested in.

That is a very healthy budget for what you are looking for and you should have several options.

What brings you to Omaha?
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Thu Dec 6, 2012
Johnathan O'Gorman answered:
It really depends on the loan program you choose. Different loan programs require different amounts of funds to be unused after you pay your bills. It is all based on your debt (monthly bills including your house payment) to income ratio. ... more
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Fri Feb 19, 2016

Great questions! The best time to start preparing to look for a home is as soon as possible. In other words, find a knowledgeable, ethical mortgage professional in your local area in advance of looking at homes. You'll want to make sure you qualify for the price range you're looking in AND the monthly payment is within YOUR budget. It's also good to see what's on your credit report to make sure there's credit issues that can cause headaches down the road. Jonathan is exactly right! ... more
0 votes 15 answers Share Flag
Thu Oct 25, 2012
Dennis Thomas answered:
Send me a little more information and we can narrow your search. Price range, number of bedrooms, condo or home. And then i can send you some suggestions.

Reach me directly at, 402-215-5640.

Have a good evening.

Dennis Thomas
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0 votes 9 answers Share Flag
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