 Should we decrease our asking price for our condo? |
| Our condo has been on the market for 31/2 months. Our asking price is at least 10K less than anything comparable on the market in the same area. According to our agent, it has been showing like ... |
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 I live in a shared house, am i doing something wrong? ? |
| I have been livin in a shared house for a week, there all guys aged 18 - ? 35? when i arrived i realsied there was no towel to try the dises the shower was black with dirt, and no body really cared! ... |
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 My mortgage company said my HOA cant foreclose on me for past due fees is that true? |
| my mtg company said my HOA can not foreclose on me for any reason because they do not own the property..that only my mortgage company can foreclose on the property or the county can for past due ... |
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 Could i get a home loan? |
if i earnt $500 after tax?
Additional Details
thats per week?... |
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 Can my landlord evict me for breaking a window? |
| because he's calling my job threatening to evict me. not only that but he tells my co workers, or whomever answers the phone that he's going to evict me. is that ok? i feel very harassed.... |
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 We are schedule to close on our home and I am scared....? |
| I'm scared the lender is going to come back and say "sorry, we changed our minds" This is our first home and I am nervous, any suggestions. If we have a set closing date, can something ... |
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 I signed a lease for 1 year. My landlady will not make repairs.? |
| The dishwasher doesn't work. She said to buy some Jet Dry, did that, water won't reach top rack. Kitchen faucet runs (hot) water all of the time, I have to keep the water turnned off under ... |
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 How can you stop harrassment from a landlord? |
| We have lived in this house for three months. From the very beginning, the landlord would come over 2-3 times per week and walk around the property. At on time, he was standing on the back patio when ... |
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 What to do with land lord that don´t want to give the deposit money back? |
he is charging things that were already damaged
he clames that stuff is missing
the place was in a bad shape to begin ... |
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 When renting do you have to pay rent after the 30-day notice even if its in the middle of the month? |
| wanted to know if when putting the 30-day notice in even if in the middle of the month is near would we still have to pay rent if its due on the first???please let me know asap.... |
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 Can you please name me some safe, luxurious places my wife and kids can live? |
I live in Albany New York right now working as a stock broker. I made the money, now I want to move out of my small apartment and move to somewhere safe and nice.
Thank you for your time and ... |
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 So how much does a typical modest 3 bedroom house cost in the USA? |
as a brit I am curious. A house away from rich areas. Cos UK prices are high here.
Additional Details
WOW, so in a word house prices in USA are - dirt cheap.... |
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 As a landlord can I insert such a clause into a tenecy agreement? |
| As a landlord is there any special clause that I should enter that would benefit me in the long run? eg can I enter a clause that will mean that the tenant has to forfeit their right to squat in the ... |
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 Help...We have bad credit and make quiet a lot of money by cant get an apartment. Any Suggestions? |
| We are a couple looking to move into an apartment in Kalamazoo Michigan. We will be attending school and working full time. Unfortunately due to previous circumstances that happened in the past we ... |
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 HELP!! How to Sell My House ASAP?!? |
| I really need to sell my house as soon as possible. I'm moving to Mexico and need to be there by september of this year. The house has been on the market since february but have recieved no ... |
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alisha | Do first time buyers have to put a deposit down on the house that they want to buy?? |
this is to english people who know about house buying or who are estate agents |
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Marc
 |
Back in the old days, like... 5 years ago...
You had to put 20% down
OR, pay PMI (private mortgage insurance).
This protected banks and you. When home values went down - you'd still have your head above water. If you lost your job, you would not go bankrupt with debt.
The next step, people got 80/20 loans. The Piggy Back. Two separate loans equaling 100% (hence, nothing down) and no need to pay the insurance fee. Risky? NAH "real estate never goes down".
Then, banks just started giving out 100% loans. No money down! (competition)
So, currently, you don't need to put any money down on a home. And since the housing market is sinking/tanking/popping... the seller will usually pay all your closing costs and real estate fees. Leaving you with some small loan fees from the bank.
Risky? "NEVER" your real estate salesman will tell you, this is a great time to buy.
And that's why you are going to see a steady decrease in values of homes as forclosures exponentially increase, banks start going bust (like New Century), the remaining banks cover themselves from risk and make it harder to buy a home with exotic loans, cutting more potential buyers out of the market, further deflating values.
Nothing down is here but it (I hope) wont last. Roll the bones. |
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Jo M
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you can get 100% mortgages, or even 110% mortgages sometimes, however you pay back a lot more in the end and they are harder to be approved for. |
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badger
|
no, if you can get a 100% mortgage then you won't need a deposit.
the only prob with this is geting the house you want, people may want a deposit on the property they are selling as this secures a definate deal to be done. |
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angelstar_bc
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It all depends on the seller I think. We just bought our first house and the seller requested $2000 earnest money (or good faith deposit) which basically covered the seller in case we backed out of the contract. But we didn't back out and we put the $2000 toward our closing.
I would say be prepared to have some money available to a good faith deposit-the seller might request it as part of the negotiation.
Luckily, we were able to get the money last minute becasue we had to write the check at that moment. |
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g.m
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No you can get 100% mortgages (but the borrowing rate will be higher at outset) or you can pay cash (wishfull thinking for most of us::!!) |
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Pearl
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You generally have to, my fiancee did that. |
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pattibcacl
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No you don,t but it depends on the seller and you have good credit so best of luck to you |
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nemesis
|
You can get mortgages in excess of 100% to eliminate the need for a deposit. However, your mortgage isn't advanced until completion.
When exchanging contracts (normally 7 days before completion), you are normally expected to pay 10% deposit. If you don't have that money, you have four options:
1. Request to exchange and complete on the same day - a nightmare if there is a chain, and mistakes can be very costly for all those involved.
2. Take a closed bridging loan (one you pay back on completion).
3. Get your solicitor to ask the vendor's solicitor if they are happy to accept a lesser deposit.
4. Take out a guaranteed deposit indemnity bond (I think thats what its called). Its an insurance product to protect the vendor if you default. |
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desevans007
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no |
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Art
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By "deposit", do you mean Earnest Money or Downpayment?
The answer to either of those is NO, you are not required to put anything "down"... as long as your credit is strong enough to where you can get into a 100% loan product, and as long as your real estate agent helps you negotiate a $0 earnest money offer.
Good luck! |
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FluffyPinkThing
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An estate agent is not allowed to take a holding deposit.
The rest depends on your mortgage - as already stated, you can have 100% or more (which means no deposit).
However, some of the best mortgage rates out there require a 5% deposit, ie having a 95% mortgage.
Speak to a mortgage advisor - one that doesn't charge a fee. The large estate agents in your area should be able to advise you.
Solicitors can exchange and complete on the same day, if the seller agrees. This means no deposit is required up front to the solicitor if you are having a 100% mortgage. |
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I Tisi
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Yes, the norm is 10% of the purchase price |
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Sugarlump
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The norm is 10% deposit on exchange of contracts. if you do not have a deposit to offer you will have to ask your Seller if they will accept no deposit or a nominal one. they can insist on a deposit tho. |
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