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Home Buying in Pittsburgh : Real Estate Advice

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  • Local Info81
  • Home Buying387
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Activity 297
Wed Jul 6, 2011
Erin J. Marton answered:
If you have the address of the home, you could likely find it on Allegheny County's website. This should give you some insight on ownership. http://www2.county.allegheny.pa.us/RealEstate/Default.aspx
Hope that helps!
Erin
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0 votes 5 answers Share Flag
Thu Jun 23, 2011
Jeffrey Bennett answered:
Luckily, citizenship is irrelevant to home buying in the U.S. Unlike most other countries, there are no restrictions on non-citizens buying property. If you qualify based on debt/income ratio, credit score, etc., you can get a loan.

If you need a place to start looking, Amber Housholder at CB Home Loans is as good as any: 724-316-0447. Good luck!
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Wed Jun 1, 2011
Sally Grenier answered:
What property are you referring to?
0 votes 0 Answers Share Flag
Fri May 27, 2011
Don Tepper answered:
You can't.

There's no way that you, as buyers, can expedite the process.

You make an offer on a short sale. The seller accepts or rejects it. (There isn't too much incentive for the seller to reject it, since--regardless of the price--the seller ends up with nothing. The only incentive is in accepting an offer that the bank is likely to accept.)

Once that's done, you enter a black hole. The listing agent provides information to the lender(s)--the hardship letter, the seller's tax returns, W2 statements, and so on. And the listing agent stays in regular contact with the lender. You, as the buyer, are totally out of the picture.

The process may go quickly--a month or two. It may take a year or more.

Again, you have no control over that.

Your Realtor will be able to provide more details.

As a side note, I really wouldn't recommend that a first-time homebuyer pursue short sales. They can take a long time and involve a lot of anxiety, difficulty, and pain. It's important you understand the downsides before proceeding. Again, though, discuss it with your Realtor.

Hope that helps.
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Sat May 21, 2011
Shane Milne answered:
Unless you are going to use your own money to pay for all of these improvements, you are going to need to apply for a construction or rehab loan of some sort. Most common today is the FHA 203k (details can be found at www.hud.gov/offices/hsg/sfh/203k/203kmenu.cfm) but there is also a Fannie Mae conforming loan program that finances rehab costs as well.

Essentially what happens is you get your contractors (or hire 1 general contractor) who will bid out the project, you put together a line item cost, a description of the materials, and the documentation on the contractor(s) together and it's sent in to the lender along with your mortgage application. The lender will hire their own appraiser, and provide them all of the rehab info you provided, and the appraiser will appraise the home "subject to" those improvements being made and compare it to other homes like the to-be-completed condition of the home to determine the market value. That market value will determine what the maximum loan amount you can qualify for. If you aren't already, you'll want to work with a real estate agent who has experience with purchasing properties for rehab as determining what the appraised value will be is key to not having to do a ton of revisions to make the financing work out.
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Mon May 16, 2011
Naomi Dieckmann answered:
Hi Johnie,

You have all the right things line up to be approved for a loan. The only way to find out how much you would be approved for is to get a pre approval. In order to do that you would contact your mortage lender of choice and they would be able to tell you your loan amount. If you need a referral or help with your home buying process please give me a call 412-414-1490 and I'd be happy to help. ... more
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Mon Jan 19, 2015
Gary Swank answered:
Commitment, being engaged to understand your family's needs, knowledgeable of the area plus a great track record.
0 votes 3 answers Share Flag
Thu Mar 31, 2011
Anna M Brocco answered:
Much will depend on your agreement; in any case, do have a discussion with your agent first; if the chat proves unsatisfactory, contact the broker owner and or office manager and express your concerns, as they are the ones who decide any agreement terminations, not necessarily the agent, or ask to be assigned another agent from within. ... more
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Sun May 7, 2017
Kevin Collins answered:
More important than the actual company, is the individual agent that you hire. Most companies have some great agents, but many also have some lousy ones. Your best bet is to choose an agent that will be represent your interests, listen to you, be able to understand what you are looking for, and works hard for you - regardless of what company they work for.

Good luck!
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0 votes 15 answers Share Flag
Sat Mar 12, 2011
Brian Teyssier answered:
Minlu,

Thank you for your question. The answer would depend on whether or not you have an agent working for you. If you do not, I am a full time, professional Realtor specializing in buyers. You can read reviews on me by past clients in Zillow if you would like. If you would be interested in what I can do for you, you can find me on WWW.Twitter.com/teyssier, text or e-mail. ... more
0 votes 8 answers Share Flag
Sun Mar 6, 2011
Anna M Brocco answered:
Commissions are always negotiable between you and your agent--there are no set standards as it would go against Federal Laws--consider interviewing a few agents from different realty companies, and then choose the one you like best--choose your agent with care. ... more
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Thu Aug 14, 2014
Anna M Brocco answered:
For such an agreement, do protect yourself and consult with an attorney for all related paperwork --he/she can best advise as it relates to your specific situation...accurate advice prevents future problems. ... more
0 votes 3 answers Share Flag
Sat Feb 5, 2011
Sarah Goulart Nathe answered:
I'll be honest, I don't even understand what the exact problem is here. What do you mean the mortgage company told you to prove teh current mortgage existed on a credit report? Why would you need to prove that? Running a credit report (which every mortgage company does), would show that to anyone.

I think you need to talk to someone else.
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0 votes 4 answers Share Flag
Tue Feb 1, 2011
Melissa Barkalow answered:
Some buildings put limits on the number of rental units to help with building insurance, which comes back to you in your monthly condo fees staying lower vs having a higher rate. Also sometimes it is harder to get the building approved for FHA and other loans with a high percentage of rental units vs owner lived in units and thus sometimes making re-sale of those units more difficult down the road. This all depends on where the building is located and the market demand.

Good luck!
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Wed Jan 19, 2011
BayAreaHomeRebate answered:
I never heard of a class, but I don't do loans, so maybe this is something new? Regardless, your loan guy should be in touch with you. I mean i'm assuming your a first time buyer right, so make the process smooth and easy?

OH and by the way, go STEELERS.....

Sameer
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Sun Jan 16, 2011
Tony McMahon answered:
Sat Jan 15, 2011
Christopher Lefebvre answered:
I recommend that you talk with a real estate attorney or title company. We had a similar situation a few years back and our deal went really well. Our attorney took care of everything and the attorney fees were reasonable.

Some things to consider. You didn't mention a sale price so I wasn't sure if you would be paying cash or taking on a mortgage. If you are going to need a mortgage than I recommend that you talk with several mortgage brokers and shop a round for the best deal (lowest rate and lowest amount of closing costs possible also be careful for other pitfalls such as prepayment penalties, etc.). You can try some direct lenders as well. I've had good luck with Provident Funding in the past.

You also mentioned the home is going to be sold "as-is." Sometimes that can be taken for "the home needs a lot of repairs." I'm not sure if that is your case or not, but something you should be aware of. If you go with an FHA mortgage there will be an FHA inspection and they could require you to make repairs before closing. The mortgage company is also going to require home insurance. If the home needs major repairs you could run into coverage issues.

I'm not familiar with PA, but here in Mass if a home has private sewer it requires an inspection before the home can be sold. However, there was a waiver on this requirement if it was a home being sold from a parent to a child. Your attorney can help with these types of issues as well.

Good luck. I hope everything goes well for you.
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0 votes 11 answers Share Flag
Thu Jan 13, 2011
Alan Openshaw answered:
Hello Artank,

Did you pay for an appraisal? If so then you knew that it was being ordered. Did you have a mortgage commitment deadline that you had to meet that required you to get an appraisal? If so it sounds like you consented to the appraisal. My question is why should the lender pay if it was needed for be compliant with the terms of the contract. I would ask your lender why they ordered an appraisal. Also ask your Realtor. I think there are very few circumstances where you would not be required to pay.

Alan
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Mon Jan 10, 2011
Blair W. Cohen answered:
Some of the investor/owners that do the rent to own agreements advertise on their own. So check local publications. However most of these rent own arrangements never become a purchase and remain only rental. My question to you is why can you not buy now with interest rates in the 4% to 5% range and down payments as low as 3.5% or zero for VA financing? What will be different in 12,18 or 24 months that will make it more favorable for you to purchase? The interest rates and prices will probably be higher in a year or two. ... more
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Mon Feb 14, 2011
Patrick Thies answered:
This builder probably has a sales office on site or very near by. You don't need an agent, but if you have one that you have been working with, then you would need to bring them along on your first visit and register with the sales office.

You would have to discuss whether or not the builder will be negotiable on upgrades and options with the sales office. Usually they are not negotiable, but the builder may have some kind of upgrade package at a discounted price. If one of the houses is already completed, the builder may make changes at little to no cost to get it sold, but generally the upgrades are what they are. It also can't hurt to try.
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