 How soon after closing on an FHA loan can I get a car loan? |
| My husband and I are closing on a fha loan on Wednesday. How long after closing should I wait to buy a slightly used car? I know not to do anything in til we have closed but after that can I apply ... |
|
 My wife and me are trying to buy this house and am not sure if its the right choice? |
| I am shift leader at blockbusters video and am making 8.50 an hour with a yearly salary of 23,500. My wife does house cleaning and makes about 17,500 and she is pregnant. We owe alot on our credit ... |
|
 What is a better way to build strong relationships with realtors? |
| Realtors have so many loan officers tugging at their feet, I was just wondering what the best way to do business with them was.... |
|
 As much as I think mc cain is the wrong man to be our next president, I think one of his ideas is very good.? |
| why don't we use the 700 billion from the bailout plan, to buy up all these bad mortgages, and re issue them to the people who lost and are about to lose their homes, at a 5% fixed 30 year ... |
|
 Why am I getting evicted? |
| Okay I recently moved into a small bedroom apartment that is very noisey. My door is located right next to the hallway exit door and every time people leave in and out I hear the SLAM! of the door. E... |
|
 Can i buy a house if i dont have good credit? |
| i would like to buy a house but i dont have money or good credit...but i found a house that is real cheap i would love to try to buy...is it possible and what do i do to try? i do have a job i have ... |
|
 My landlord threatened to sue me for late rent...? |
So there was kind of a bad situation where I didn't have enough money. It turns out I can pay the rent tomorrow, with a $50 late fee, but I want to know if what my landlord said was true.
S... |
|
 I'm not in foreclosure yet but i know I can/t keep up my payments should i volunteer to give up my house? |
| Due to a substansal cut in income i am barely hanging on. 3 years ago my home appraised at 90.000 since then i have put another 10,000 in it and only owe 65,000.Will the loan holder be easier to work ... |
|
 What can my landlord do if i break my lease? |
| My lease says the rent check is to be cashed every Monday (I pay weekly) but the landlord cashed the check on a Friday when the money wasn't in the account, (I get payed Mondays) and it overdrew ... |
|
 Bad debt and Homeownership? |
| Yes Im trying to get pass paying rent, my rent is like paying my landlords mortgage..$1600, but I just can't get pass the debt I have along with rent due Im in the hole $1475, mostly payday ... |
|
 Renters did something without our permission? |
OK, the house payment on our rental is $850, we charge $950 to cover expenses.
We got a call last week that the AC went out so we sent someone to fix it. They just said they had no idea why it ... |
|
 Who customarily pays for a survey of property prior to sale - buyer or seller? |
| There's a possible sale of property from my dad's estate. Property is located in Maine. A potential buyer wants a survey done prior to sale. And he's not committed to purchase - even ... |
|
| HELP I just rented an apartment for a 1 year lease. Now she wants me out??? |
| Now, 3 weeks later, my landlady says she needs her apt back beause of personal reasons. She is telling me my lease isnt valid because i didnt go thru any board association for aproval from the ... |
|
 I need someone to obtain a real estate loan for me and take the advantages/equity, sell back to me in 2 years |
| I am looking to purchase a condo with an interest only loan. a monthly mortgage of $640.00 My credit score is not high enough to obtain the loan right now and the offer wont last long. I was ... |
|
 What do you think of your local Real Estate?? |
| is the market in your area strong/ weak/ buyers market/ sellers market/ ect.ect.... |
|
 My score is 777,my hubsands 750; I am a recent stay at home mom, will the lender use my score w/out income? |
| I quit my job to homeschool in Nov 07 and we found our ideal home and community last weekend; now I am concerned that my credit will not be taken into consideration without having income. The ... |
|
 Can a text message ever be legally binding as giving landlord notice 'in writing' to end a UKtenancy agreement |
Can they say that a 'text' is the same as 'in writing' legally?
Additional Details
It's ok - i am hoping the answer is no as landlord is trying to evict me on ... |
|
|  |
taking a trip | Offer on house? |
I am looking at a 3-bedroom house with one bathroom. It is an older home and has been on the market for a year. There was one offer last July that fell through because of financing and nothing else on the house. Since that time, the owner has only lowered the price $6,000. I am pre-approved and plan on making an offer on the house this weekend. It is my understanding that you should start out offering 10% less than what they are asking...or somewhere in there. I am a first time home owner so I am asking for the 6% for the downpayment and closing costs. Is that six percent included in the 10% or am I looking at around 16%?
Additional Details
The 6% includes closing and downpayment....not 6% plus downpayment. They are asking 87,500 for it and they paid $70,000 for it about 4 years ago. |
 |
 
TheMom
|
You are asking them to sell for 62k, bottom line after all is said and done. They might not even be able to sell that low, even if willing. |
|
RED
|
You didn't say how much the house is. $6000 may be nothing for some houses, and a lot for others. I think a 10% drop in price is too much to ask, especially with 6% down & all closing costs paid by the seller, they may not even be able to go that far, especially if they have only owned the house a few years. Find out what they paid, if you have a buyer's agent (doesn't cost anything to buyer) get her to look that up for you, and get some comps of SOLDS together, so you can compare what you are planning to offer. Yes, it is a buyers market, but not a give away market either. Good Luck! |
|
About a Quarter Million
|
As you probably know, it's a buyer's market almost everywhere in the U.S. right now. I'd offer much lower than 10% off the list price. What do you have to loose? You can always offer on another property if the seller doesn't like your offer. Most of the time the seller will counteroffer anyway. You can always raise your offer but never lower it.
While it might seem a little harsh, you can profit off other peoples misfortunes. With the number of houses for sale which are in some stage of foreclosure and people's other reasons for selling (divorce, loss of job, death or illness) there are many good deals. |
|
Chris
|
First, if you dont have a buyer's agent, get one - he or she can do the comps on the sales in the neighborhood and give you a realistic idea of what the house would sell for - and you don't have to pay for his or her services - the seller does -
That way you can build everything into your offer and not have to negotiate as much and you stand a better chance of your offer being accepted -
I never understand why a buyer would want to wing it in this market - |
|
glenn
 |
#1 Get a good experienced buyer's agent- they will be paid out of the commission the seller is paying so it will not be money out of your pocket.. You should be looking at how much other homes in the area are selling for. It may be worth exactly what they have it listed for or 10%.less or 20% less. You should not base your offer on their list price but on what the house itself is worth.
#2 The seller will be looking at their bottom line. Paying closing costs for you will be exactly the same as coming off their price. So if they would have come off 10% if you paid all of your own costs then they will only come off 4% if you are asking for 6% closing to be paid. In a sense you will be agreeing to a slightly higher price than you could have gotten if you had paid your own costs. Nothing is really free. |
|
JOANIE
 |
I just want to know where you live to find a house for such a price?? |
|
Heisenberg
 |
What they want to sell the house for makes no difference.
They paid $70,000 four years ago
They want $87,500 today
4 years ago, the housing market was strong. Today it's not. I would offer $73,000. Although I would be open to negotiating a little, I wouldnt be very open to increasing my offer by much.
Along wirth the offer, I would take a good hard look at the property and identify everything that needs repair and use the condition of the property as leverage in the deal.
House has been on the market for a year and they had only one offer. It's really up to them to make the decision to move on with life and as the negotiation moved forward, I would make it clear to them that I understood that. |
|
Biggie @ Arbor Mortgage
|
I would consider offering full asking price if you want them to pay closing costs. If there is a realtor involved, the sellers pay for that also - 6 - 7%! |
|
Em C
|
Please hire a good realtor. It won't cost you anything as she will split the commission with the seller's realtor.
Regarding starting 10% below the asking price. That is not a definite rule of negotiating. What you offer all depends on the particular situation and what the house is worth, how long it has been on the market etc. That being said, unless you know the sellers are really desperate, you wouldn't want to ask for a 10% discount and then and additional 6% for closing on your first offer. The seller may get insulted and refuse to negotiate any further.
Again, please find a realtor to determine what the house is really worth and to advise you. |
|
Alterfemego
|
I am so sick of the people thinking that they know all the answers to making offers. Listen, the asking price could very well be the only price they can accept. 10% !! OMG Honey, you need to be educated as to the real world. You can ask them to give up 6% to help you get into a property that you obviously couldn't buy without them giving you that money, and then you want to offer them another 10% less than asking. Be fair, be realistic. Check the comparables that have sold and make your best offer. But don't insult that homeowner or us by asking that kind of question again! |
|
Sheli
|
They are offering you a really good deal on the house. If you want something less expensive, you might want to consider looking into foreclosure listings. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 8 minutes(s) ago
| | | |
11 | 43 minutes(s) ago
| | | |
11 | 1 hour(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
11 | 3 hour(s) ago
| | | |
11 | 6 hour(s) ago
| | | |
11 | 11 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
11 | 4 day(s) ago
| | | |
11 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
