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Woodbury : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying5
  • Home Selling1
  • Market Conditions0

Activity 16
Fri Aug 16, 2013
Jay Garcia answered:
Yes, that score is perfectly fine. But the mortgage qualification depends on the income and the employment history as well.
0 votes 8 answers Share Flag
Sat Jul 16, 2011
Jane Shebroe answered:
If she agreed that you use your security deposit for September rent in writing, then you shouldn't have any problems. As long as you leave the rental in the same condition as it was when you moved in. I always advise tenants to take pictures after they move out as proof that it was left in clean and undamaged condition.

Jane
http://www.RealTerrific.com
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Fri Aug 20, 2010
Ian A. Wolf answered:
You need to contact a local Realtor in TN. If you need one, let me know, I actually know a few good ones down that way. A short sale may be a great option, but you will need someone local to talk to so you can assess the situation. You have a number if different dynamics here especially with a tenant issue that really need to be properly evaluated. You can also call me or email me, and I'd be happy to talk to you more and help guide you, as this is my area of expertise. ... more
0 votes 1 answer Share Flag
Mon Jul 22, 2013
Matt Taylor answered:
It sounds like you are trying to take additiona cash out of your purchase to help with the other expenses.

If you are purchasing the home then the value of the home as it pertains to the loan is the LOWER of the purchase price or the appraised value.

So if you are purchasing the home for 100k but it is worth 110k then the 100k purchase price will be used for the value.

If you are purchasing for 100k and the home appraised for 95k then they would use 95k for the value and you would be required to put down your down payment plus the difference between the purchase price and appraised value.

There is no program I am aware of any longer that allows you to take more than the purchase price other than USDA or 203k. And that is only to cover fees an/or repairs.
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Wed Dec 5, 2012
Patrick Thies answered:
Not likely. Lenders watch out for these types of things. Most loans don't allow cash back to the buyer. Closing costs paid by sellers must go towards the costs, anything over the allowed amount goes back to the seller. Even repair credits are getting watched by lenders. ... more
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Sun Apr 18, 2010
Dallas Texas answered:
The lender only will lend money on the executed contract sale price. After your loan is seasoned with equity you might be able to take an additional loan out in the future

Lynn911
0 votes 2 answers Share Flag
Tue Jan 3, 2012
answered:
Ah, that's the caveat to your other question.

Unfortunately, I do not know of any options at that loan-to-value nor do MI companies cover non-owner properties.

If it's just to get your payment down but you can afford it, you're probably stuck. If you NEED to get the payment lower due to hardship and not being able to cover it, you may be able to get a loan modification. ... more
0 votes 7 answers Share Flag
Fri Jun 29, 2012
Keith Sorem answered:
I would suggest a visit to the Dept of Building and Safety. Bring copies of the inspection and ask to see the permit file on the property. It sounds as though if the seller did not disclose known issues that there would be a good case of fraud. There are attorneys that just love this type of case (in a general category called "consumer protection" or "real estate fraud".

Good luck.
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Tue Jan 3, 2012
Steve Kappre answered:
Ces102480 -

My office is right in Mantua on Route 45. If anyone can help, I usually can. I can talk tonight via e-mail or via phone. Just let me know what is best. You can visit my profile for my contact info ... more
0 votes 4 answers Share Flag
Mon Apr 14, 2014
Larry Sarlo answered:
Turnersville/Washinton Twp. Homes here sell from 150k to over 1 mil. Great schools Great neighborhood. Close to major roads. Many nice country settings to more suburban offerings. Only 1 high school but it is a very good school system. Very much an established community base too.
Wenonah nice schools nice older homes many re done and lots of character. Old community beautiful area.
Mickleton Swedesboro Mullica Hill More rural settings but suburbanized by recent sprawl from the real estate boom. Lots of great new dev tracts and most have a a nice country feel.

These are my top picks. There are others but mostly price and budget is what matters, even with prices down so drastic. Feel free to contact me anytime.

Larry Sarlo
Weichert Realtors
609-868-1171
lsarlo@comcast.net
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0 votes 8 answers Share Flag
Wed Jul 29, 2009
Amanda Estus answered:
I also wanted to add in that the contract was not drawn up by us - it was drawn up by the seller's agent. We signed it, returned to the agent and anticipated that the seller's were receiving it to sign at their residence in FL. The seller's agent, upon knowing of his termination, told our realtor that the contract was still fine and that they would just cross his name/agency info out and put the new agency info. This doesn't seem right to us. ... more
0 votes 18 answers Share Flag
Thu Jul 16, 2009
Jeremy S. Hill answered:
John,

Its good that you are concerned about safety issues. Unfortunately as Realtors we can advise whether an area is "safe" or not. The reason cause that can be considered steering which is unethical. Its best for you to call the township police. They are very helpful in this regards. However I am familiar with the the community. There's some nice housing there. I personally would feel comfortable moving my family there. if you will like that last 12 months sold record for the community let me know. I'd be happy to assist.

Best Regards,

Jeremy S. Hill, Realtor Associate
Keller Williams Realty
www.SouthNewJerseyHomes.com
Office: 856.685.1651
Direct: 609.876.5817
Fax: 609.482.8235
Licensed PA, NJ
"Your Interest 1st Always"
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0 votes 3 answers Share Flag
Tue May 5, 2009
Paul Folmsbee answered:
First, understand that it is quite common for there to be multiple offers at one time--even if a property has been on the market for months. There comes a moment when it is the "deal of the day" because competing homes have been sold or withdrawn.

In addition to standing firm on your price, you can add an Expiration Date/Time to your offer. This keeps the other side from using your offer as leverage with other potential buyers. An alternative is for your agent to tell the listing agent that although you did not put an expiration on your offer, you have the right to call your agent at any time and instruct him/her to withdraw the offer.

Your agent should remind the other agent of this, along with asking the listing agent to let the Seller know how this works. Sample wording might be, "Make sure the Seller understands that if the Buyer tells me to withdraw the offer, it's over--immediately. There is no opportunity for the Seller to come back with a response. And if all the parties do this, the Seller is left with NO offers. So, make sure the Seller is aware of this potential situation."

Generally, you will not know the terms of the other offer(s). This is a way to "smoke them out". If they are dealing with an inferior offer, they will be interested in keeping you on the hook. If it is a better offer than yours, then you probably would not have won the bidding contest, anyway. Even if you really want the house, don't get pulled into paying too much for it!

-Paul-
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Wed Aug 6, 2008
Cameron Piper answered:
Michelle,

Call a title company or real estate attorney and have them prepare a "quit claim deed" for you. Your mom will essentially need to quit her claim to the property and deed her interest to you.

Keep in mind however that she may not want to do this since she is named on the mortgage therefore she is equally liable for payment. If she has to pay she may well want the right to ownership as well.

Cameron Piper
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Mon Dec 17, 2012
Valerie Reynolds & Maria Dargan answered:
The reason homes don't have an address is so you will contact the agent. So you either call the listing office or call the agent. Good luck in your house hunt.
0 votes 9 answers Share Flag
Fri Mar 7, 2008
Marc Paolella answered:
Hi Melissa,

Unfortunately this would not be possible. Travel time to NYC from Woodbury would be 2.25 hours WITHOUT traffic. Probably close to 3 hours during the morning rush. If you are going to be working in NYC, you're going to have to set your sites much farther North and East.

-Marc
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