 Buying a home (unique situation)? |
| My mother passed away in August of 2007. I am administrator of her estate. I am also sole heir. I want the home, however there are two mortgages on the home. I want to pay off the 2nd ($20,000) and ... |
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 Mortgage issue!? |
| I bought my house for £46,000 last year, I now want to get a bigger morgage and take it to £75,000, a joint mortgage with my fiance, we went to the bank and they asked us to call some solicitors ... |
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 I need help! Pre-approved for home...but don't know if its the right time to buy!? |
| I've been approved for a loan of $75k (not very much I know) but was convinced by Agent that I'd be able to find a really nice foreclosure home for that amount...still haven't. I'... |
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 What is the difference between let and rent? |
| I am looking to move and am currently renting but have no clue what lettting is all ... |
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 Realtor / Listing agent submitted a wrong offer!? |
| After placing several offers on a bank owned property we finally received word that our highest and best offer was accepted. The banks listing agent sent us the banks purchase agreement and it had ... |
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 Assuming a home loan? |
| My ex husband and I bought a house together while married, and now that we're divorced and both remarried, I want my name off of the house. He said what he has researched is that the only way ... |
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 I am in my new job for 2 months? am i eligible for home loan? Will bank give me a home loan ? my net is 12k... |
| I am wrking in a public ltd co., net sal is 12 k but i am wrking for only 2 months.. Is there any time period in the present job to get a home loan?? Am i eligible for getting home loan?... |
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 Are there any places in the U.S. where a person could buy a house for less then $50,000 that isn't isolated- |
| what I mean is that it isn't in a suburb, but has a sense of neighborhood where you can walk out your door and not have to get into a vehicle to get places.... |
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 How to make big deals in real estate ? |
I have seen many people in the real estate business but yet I did not see any real person who can buy a big land....
how should i find such buyers ?
What should I do to find some one who ... |
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 Is a 6% real estate commission with 4% to selling agency plus a $5,000 bonus to selling agent a good plan? |
| My house is super upgraded and in sparkling condition on a large lot with a great view. Only negative is the outside is an older 60's style (fab condition but not the newer "big box" ... |
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 Landlords, what do you think of this??? |
| I recently found a cozy little house to rent. It's the former guest house of the neighboring house. The landlord is a nice woman who realizes that she isn't going to keep long term tenants ... |
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 Can you sue a tenant for ruining your property? |
my dads tenant left all his crap in the house at literally cost us about $4000
Additional Details
the guys left his crap at our house and broke a hole in the wall, his dog peed on the ... |
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 Am I a canidate for a home loan? |
Am I a canidate for a home loan?
My husband makes $45,000 a year (We have a 6 month old so I stay home)
We have $1500 in credit card debt (due to Christmas shopping)
We owe about $6000... |
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 Can 2 people each get their own mortgage to buy the same house if they are both living in it? |
| ok so 2 people live in a house they rent, the landlord gives an offer for us to buy it, but we want our own mortgages ect. can these 2 people each get there own seperate mortgage for the house and ... |
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 Mortgages........? |
| Does anyone know of any mortgage companies who will lend 4-5 times salary? We are not first time buyers but are struggling to get a bigger ... |
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| Totally new to the real estate game. I can't seem to do an effective search in Google to get me good sites.... |
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 Home Foreclosure? |
My house is being foreclosed on. Will I still owe money?
Can I sell the house.... |
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 Planning on buying a house advice is needed.? |
| And I need all the advise I can get as far as all the extra fees that they chage when processing all the paperwork. My husband and I are a young couple and I am afraid that they'll try to screw ... |
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 Went ot jail and got evicted? |
| I went to jail for one month and when I got out, my landlord changed the locks and kept all my belongings inside the house. Everything. He did not evict me through the court system just a 3 day ... |
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M | Do I have to pay an appraisal fee to Mortagae Co. even if I didn't purchase the house? |
I was buying this house and left a check deposit of $1,000 to my real estate agent. We opened escrow and had the house inspected for pest. The report came back and I wasn't happy with the damages and didn't want to take the risk on that house so I backed out of the purchase within 10 days of opening escrow. I did pay for the pest inspection and my agent said he would deduct $99.00 from my $1,000 check. During this time, the mortgage company had sent me a Good Faith Estimate which required my signatures. But I never signed any off them because I got those papers from my mortgage co after my pest inspection. My agent told me that if I decide to back out of the deal within my due dilligence, I would only have to pay for the inspection. Now, the mortgage co sent me a bill of $418.00 stating that I have to pay an appraisal fee and a fee for my credit report. They said that they would deduct it from my $1,000 deposit check. Is this right? |
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Searchlight Crusade
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If you signed the loan application (Form 1003), yes (with some exceptions, for instance if the appraiser is an in house employee drawing a salary, rather than an independent contractor)
You applied for a loan. The appraisal needs to get done. The sooner it is done, the better off you are.
Your agent should have explained this to you. Your loan officer should also have explained this to you. |
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bianca
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yes, you have to pay for appraisal and credit. the mortgage co. is not going to cover those fees, because this is third party fees and you need to cover them. |
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somebody
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I think so, unfortunately...if they did the appraisal then yes |
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koffee
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Afraid so. It stinks, but it's better than losing a whole lot more if you purchased the house and then found all these problems. |
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comic1965
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If I recall my studies for my license many moons ago, their are Federal restriction on lenders charging for appraisals before the loan is completed. For this reason, the lender should have had you contact the appraiser directly and pay them directly. This is what I do. It would be your choice to do the appraisal and compensate the appraiser. I may be wrong on this. Check with your state's Dept of Real Estate or the Federal Dept. of Housing and Urban Development. |
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Bchlvr
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YES! Nobody does work for free. You pay them to do the work. An appraiser is not going to spend several hours inspecting a propertys value and just b/c you are not satisfied for whatever reason says forget the payment. Would you do free work? I doubt it. They cannot deduct it from the $1000 b/c that money is being held by the agents escrow account. The mortgage broker has nothing to do with that $1000. |
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Reaper King
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yes. just one of those things in home buying that you have to deal with. whenever you buy or sell a house an appraisal is needed for value, figuring LTV, etc. the mortgage company, going on your okay for the loan, requested an appraisal done in order to facilitate the loan you were applying for. your realtor was wrong since I assume he/she didn't know what they were talking about. sinec you backed out of the deal the cost is left to you to pay for what the mortgage company already spent money on in order to process your loan. they will certainly not eat that cost, and since you gave the okay, I assume, for the loan proceedings to begin, they went ahead and did what they needed to do in order to get the loan processed. this means paying for an appraisal and pulling your credit. this bill is correct, unfortunately, and is simply the way things are in the home buying process. |
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jonathan s
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well my friend if you indeed sign the (1003) and (1008) forms than yes you will have to pay for the appraisal fee.But either way your agent should of told you what was going on so did the loan officer in this situation all i have to say is talk to your loan officer or go to our website at www.felipeolvera.com
Jonathan Santos
Mortgage Consultant |
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hanusak
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I do not know which state you live in but as a mortgage broker in WI if we order an appraisal we pay for that unless the client wants to pay for it at the door. Unfortunately it sounds like they are trying to scare you into paying regardless but hold strong since they are the ones that probablly ordered the appraisal and since they did it is their own useless piece of paper. |
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