 What does it take to buy a home? |
| I'm 26 years old and I live in Indiana. I have never bought a home and don't really even know where to start. Can anyone give me some general info or help from experienced home buyers would ... |
|
 I understand a landlord can enter an apartment with proper notice, but can they go through your things? |
| My landlord gave proper notice that they will be doing random inspections with the Mortgage supervisor. I understand that they legally can enter with proper notice but I'm unsure what they are ... |
|
 Flipping houses...? |
| Want advice from people who have done this. I am looking into starting to flip houses. My husband is a handyman. He works in maintenance and will be taking his HVAC test shortly. So most of the work ... |
|
 I am 16 years old an i have a job and want a flat? |
| i am 16 , i have a job and me and my fiend want to move in to a rented flat , we both have jobs and would like to rent a flat up to £200 a month , what could i tell he council so i could get a flat ... |
|
 "Help" landlord locked me out of my place! I live in california and have a month to month agreement |
| on 11-02-2006 when i went to pay the rent she would not accept it and told me i needed to move out. I have never recieved any written notice at all. this morning I left to go to the doctor and when I ... |
|
 What are the first steps you take to getting a mortgage? |
| it sounds stupid i know! but me and my partner are looking to get a mortgage, we are first time buyers obviously first time buyers, and we haven't got the first clue on how to go about it, do we ... |
|
 How to get a room-mate to quit smoking marijuana in the house? |
Room-mate new way before moved in, not suppose to do this.
However from day one this has been going on. There is 3 of us that live in house right now, haven't gotten 4th room-mate yet. I ... |
|
 Is it better to buy a new house in this year or next year? |
| i am living in canada and planning to get a new detached house. I was just wondering is it better to get a house in this year if prices are good this year or should i wait next year may be price ... |
|
 How much should I offer on a home that costs $179,900? |
| It is a nice ranch, 1296 sq. ft. and I absolutely love it. The problem is it is a little out of our price range. I was thinking of offering 135,000 to give me some room to go to 140,000. Is this ... |
|
 How to divide rent between 3 people in a 2 bedroom home when 2 of the tennants are couples.? |
| So I'm living with my boyfriend and we're going to college. Recently we found out that his niece is transfering to the college we are going to so his parents want her to live with us. I�... |
|
 Can I kick someone out if they pay rent and receive mail but are not on the lease.? |
| When I moved into my place I had a friend with family & personal problems. I offered to let her stay with me but she would have to help out with rent. There never was an agreement on how long ... |
|
 What's the best attitude when buying a house? |
| I'm 24. I have my credit approved to buy a house. I feel so lucky the second real state agent I went to was very nice, explained everything, and offfered me a deal that was more than what I ... |
|
 Real estate question? |
| I'm intending to be a first time home buyer with my husband. If a home is listed at say $2,100, even after I've made the search specifically for PURCHASING a home, does this number ... |
|
 I need some ideas of a new filing system to log whenever each renter pays their rent, ours is very outdated.? |
| Our office has over 200 rental properties. We currently have folders set up for EACH renter and when they pay their rent, we have a copy of the receipt and we put it in the folder and mark on the ... |
|
 We have a teneant that smokes. We have asked many times for them to stop.? |
| The smoke travels trough the walls and affects others. They are on a month to month lease. Is there anything we can do to make them stop smoking in the apt?.... |
|
 Mortgages for 5 times your annual salary. A good idea or not? |
Yesterday either Abbey or HSBC (I think it was Abbey) decided to let first time buyers borrow 5 times their annual salary to get the bottom end of the market going again.
Are they mental ... |
|
 Can my landlord throw my boyfriend out because hes not on my lease? |
| My boyfriend and his dog moved in with me and my landlord is threatening to throw us all out. My rent is paid on time and I dont see what the big deal is. Pets are allowed but he says my lease ... |
|
|  |
angela R | I sold an investment home, without an agent. The buyer is paying close to? |
$7,000 in loan fees....Not to mention other closing costs, like inspections, appraisals, etc. She wants me to pay part of her loan fees....I dont think I want to do that, I am already paying my share...What do you recommend I do? Since I have never gotten a mortgage, I had no idea how expensive they are. She is putting no money down, is this why her fees are so high?
Also, I sold the property below value because I saved the on realtor's fees. I don't want to take any more off, she is paying my asking price, but now I think she is trying to get some more money off the price by asking me to do this...What do you suggest?
Additional Details
I live in Texas...The price for the home is $148,000.... |
 |
 
no-nickname
|
Several people here have some good information so let me just add a couple of things.
Paying some part of closing costs or loan fees for a buyer is not unusual and often part of the negotiation. She is not trying to rip you off but just trying to make the best deal for herself that she can.
If you say that she is buying with no money down and the price is below market it may benefit both of you to write a new contract which raises the price by 3-5 thousand and in which you agree to pay the same mount in closing costs and lender fees. Your bottom line does not change and the recalculation of the numbers will work with her cash flow. |
|
ModelBehavior
|
Sounds like she wants what's called a Seller's concesseion. Not all that unusual of a request....especially in a Buyers market. It sounds like $7000 is more than the 3% maximum allowed as Sellers concession towards closing costs. |
|
Brian G
|
Covering part of her loan fees is really not your responsibility. Paying for the property is her business. Covering part of the other fees would be a nice gesture, and is sometimes included in closing costs. It is natural for the buyer to try to get the price as low as possible. You'd have to gauge your respone on her personality. Is she the type to respect some negotiating, and not take it personally, or will she be offended that you are not willing to help her out? |
|
boot knocka
 |
no way, unless you offered up front, why should you contribute anymore. That's the offer, take it or leave it...if you are reasonably sure the property can be sold to someone else, dont offer more. |
|
♥monamarie♥
|
$7000 in loan fees??? What did she do, use a broker instead of a direct lender??? She's getting screwed, straight up! |
|
o_r_y_g_u_n
 |
Find another buyer |
|
bostonianinmo
|
It sounds like you're still negotiating the terms of the sale so you really don't have a sale just yet. So at this stage you should just continue negotiating with her.
Give up a little at a time until you have an agreement that you both can live with. You might start by offering to cover her loan origination fee, typically 1% of the loan amount.
At some point, you're going to have to decide how far you're willing to go and cut it off at that point. Weigh the likelihood of getting another buyer quickly against the value of a quick sale to your current buyer.
Just curious. What does your attorney say? |
|
~~~NewOrleansLady~~~~
 |
NAH...I don't think so |
|
jaredshouse
 |
Don't pay her a dime!! You have no obligation to pay anything. |
|
advice - take it or leave it
|
Well considering I am in the process of purchasing an home, the seller is actually paying part of the closing. It wouldn't hurt for you to pitch in just a little if it helps the both of you out. This way you sell on good terms in case there is another one down the line.
Her fees are high not because she isn't putting any money down, but because that is the percentage amount on what the property is being sold at.
You figure, inspections usually run anywhere between $250 - $600, appraisal $350 - $525, and the closing is usually between 6 - 7 percent of the sale price of the property.
I'd think about it and maybe talk it over with the buyer and maybe yall can come to an agreement even if you only put in $1000 |
|
Glittergirl
|
I do real estate closings for a living you have to let me know what state you live and how much you sold the property for and what not and I will let you know. Mortgage fees can be very high especially when the person doesnt know mortgages at all. With closing costs that high they can be getting screwed by the lender but more then likely its just the escrow accounts and what not. She wants whats called a sellers concession and she wants you to cover part of all of the closing costs. Sometimes its worth it sometimes its not. Let me know the prices and the areas and I will let you know. :-) |
|
Danyel W
|
If you sold her the property, then she agreed to the terms. She can't come back now and say she wants you to pay fees for her unless it was int he original sales contract. Her putting no money down is the reason she's having to pay so much for the loan. You are not responsible for a penny of it. If she's not putting any of her own money into it and you're already selling it below value, the least she can do is pay her own loan fees. Don't let her tell you otherwise. |
|
P K
|
If you don't want to pay for the fees you don't have too. Maybe some but not all . |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 23 minutes(s) ago
| | | |
13 | 26 minutes(s) ago
| | | |
13 | 56 minutes(s) ago
| | | |
13 | 1 hour(s) ago
| | | |
13 | 2 hour(s) ago
| | | |
13 | 3 hour(s) ago
| | | |
13 | 8 hour(s) ago
| | | |
13 | 1 day(s) ago
| | | |
13 | 5 day(s) ago
| | | |
13 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
