Questions in "Buying"
March 8, 2010, 11:11 am
I am a FIRST-TIME homebuyer interested in a FORECLOSED house in Mansfield, MA. The asking price is $165K. The house needs a lot of work. To get a return on investment, I was thinking of offering $125K with 20% down.
My parents thought it would be a good idea if, instead, they offered $100K on top of my $25K and paid for the house with cash in their name. Is there a way that my parents can immediately get paid back?
Could they buy the house in their name, then I take out a mortgage and...
February 6, 2010, 1:42 am
my brother and and my son inheretied some land . my brother wants sell my son his share . do we need to get a survey ? can we just use a quit claim deed for this exchange of...
December 18, 2009, 1:37 am
My fiance and I have a bid in for a house owned by Bank of America of 105k. They countered our offer saying they won't pay for FHA fees for 135, a pest inspection, Section 1 repairs and saying we have close by Jan. 22. There are 2 other offers on this home both FHA loans (as is ours) and before they countered our offer, they had the listing agent ask ours if we would sign a contingency saying if the house didn't appraise for what we bid, that we would pay them the difference in cash.
We...
November 22, 2009, 2:16 am
My wife and I put in a contract on a home in Florida with out a buyers agent. When we contacted the listing agent we told them that we would submit an offer without an agent to make it look better to the seller by putting us at 0% and the selling agent at 3%. We would not require any additional work on her part since we have done this all before. The seller countered and we accepted. Afterward we noticed the listing agent whited out the 3% commission on the contract (FAR-9) and never had it...
June 28, 2009, 4:42 pm
My mother wants to sell her townhouse. I would like to buy it from her. She wants to sell it for whats left on her loan morgage payment. How to do I purchase the house from her and still get the first time home buyers tax credit? Do I need a real estate agent or just go to the bank to get a home...
June 26, 2009, 10:08 am
I am purchasing a home and in our sales agreeement with have an appraisal contingency. The home recently appraised for $40K less than the contract price. In the contingency, it states that the time limit for the Seller to respond to the amendment to reduce the sales prices is the earlier of (1) 10 days from the date the Amendment was delivered OR (2) time of closing.
Our agent delivered the Amendment to reduce the sales price on June 12th. We were informed earlier this week that the person
June 4, 2009, 11:27 pm
how long do we have to give our list of items needing repair to our attorney after a home inspection is...
May 31, 2009, 12:56 pm
I'm looking into buying through a land contract with a FSBO house. He's interested if I can make an offer appealing to him. I've heard & read on different question & answer sites that land contracts qualify for the $8000 credit & can be used as a down payment. Is that true because that would definately help my...
April 1, 2009, 7:44 pm
How much over the listed price should a buyer offer on a Bank Owned property in Califoria listed for under $100K? Or things or guidelines should be considered before making an offer on any bank owned...
March 25, 2009, 3:02 pm
HI, I live in Massachusetts, I am in the process of purchasing a short sale home. I made an offer and this was accepted by the bank. We were aware of the failed septic system in the home.
We made an offer to the bank and this was accepted.
I have spoken to my lender who said that a septic design must be in place an approved by the town for them to lend me the money. I understand this process.
My question is, my lender was surprised that this house can be sold with a failed septic and
