 Selling house how long from offer to completion? |
| I have seen conflicting timescales from offer to completion on a usual mortgage type deal. 2 weeks to 8 weeks have been suggested, Whats your experience, whats the reality.?... |
|
 How do I apply for gov. housing? Or housing projects? |
| Im looking for a place to live, which I can afford. I'm a broke college student with no financial aid, because of my parents income. Im not getting any money from them, and they want me out of ... |
|
 Do real estate agents need to identify themselves as such when buying a house? |
| I've been told that California requires a licensed agent to disclose to the Seller that they hold a RE license even if they are buying for themselves and not representing another party. I haven&#... |
|
 What is the best way to put a positive spin on the fact that the condohotels I'm selling are not pet friendly? |
| I am a Condominium Owner Service Manager at a beach resort in Florida. When I have a prospective buyer for the hotel, the question occasionally comes up as to whether or not we are pet-friendly. It&... |
|
 Landlord/Roommate dispute - Landlord trying to raise rent midway through lease?? |
| I signed a lease that states rent as $1,300 with a maximum of 4 people living in this house. However, we are paying $1,200 because the landlord "meant" to change it to $1,200, but couldn... |
|
 Moving out 1 bdrm good plan? |
| Since my divorce My daughter and I live with my mom to help us and to financelly help her. She got a large inhert. and no longer needs help so were moving. I got a 1 bdrm coz I spend all my time in ... |
|
 Can my landlord do this, legally? |
| I have lived at my house for 8 months. I love it. When I moved in, the house needed a little fixing up and there were a couple things the landlord said he'd get out. Well, he promised he'd ... |
|
 Mortage with negative equity and need to refinance, guidance please.? |
| I have a mortgage and now my equity is in the negative. But how can i refinance, without putting any more money in, does anyone have any ideas or gone through this. My loan is fixed right now at 6.25%... |
|
 Do you have to be good at math in order to be a mortgage broker? |
| what kind of math? cause i am interested in this job but im not what you would call a math wiz at ... |
|
 Can a home by owned by a minor? |
| My mother wants to buy a home but wants to have the property under my brothers name. He is currently 14 years old. Is this possible in Texas or any other state? Do you necessarily have to be an adult ... |
|
 Is my apartment complex held liable? |
I live in an apartment complex and my air condition just recently went out July 4th. The AC was fixed by a electrician leased through the apartments on Saturday, July 7th.
The electrician ... |
|
| Is it too risky to buy a flat in central London this year? |
Hello.
I really need to get a flat in Bloomsbury.
The estate agent I saw reckons central London prices are still rising in 2008? I am somewhat skeptical, but know nothing about ... |
|
 What's the best way to say it to my landlord? |
Long story short:
Our lease will be up in 6 weeks. The place is nice, but way too small and the neighbors are too loud. Anyway, my sister's friend offered to rent us this amazing ... |
|
 What can a Landlord do if the tenates did not move out in time? |
| I am waiting to move into a house that I plan to rent. However the tenants were suppose to be out by yesterday 8/21. When I arrived with the landlord if looked like that haven't even started ... |
|
 How long after closing does it take to get payment for the profit on your sold house? |
| Hello to all! We are in the process of selling a house we own downstate and this is the first house we are selling for a profit. Does anyone know how long it takes before you get the payment from ... |
|
 All these flipping shows? |
OK,
so there are all these flipping shows now.
Buy a property for 500,000
Put in 50,000
sell for 900,000 in 4 months.
and they say the person made a 350,000 profit.
but ... |
|
| I'm buying a new home and everything is already approved but I feel so stressed, how do i destress? |
| I've already got the money, but I feel like something will happen that will stop the closing procedures.... |
|
|  |
googoodollsss | Should I rent or buy a home? |
I am starting a new job on Monday. I have considered buying a condo for 279900 and even am trying to get preapproved. It would be nice to invest right now and earn equity. But I have no down, my payments will be high and I will have barely enough to make ends meet bills wise, and unsure of the stability of the job I will be starting but hope to be there for a long time considering the pay and benefits are excellent. On the other hand I have though abou renting. It would give me more flexibility with payments, more time to save, and pay extra bills, but the downfall is I will not be building equity, and I know renting is wasting money. But I can afford that, and I calculated that I would lose 40k in 5 years but be able to save 100k in 5 years for a down. What do you think would be a better route for me? I don't want to struggle, but I know he housing market is for the buyer, but then again I am not fully prepared at this time even if in the back of my mind I want a place of my own? |
 |
 
tiuliucci
|
From what you are saying, it would be smarter for you to rent for a year or two. You do not have to wait for five years, but put away as much as possible for the year or two.
If you invest wisely in the stock market you can make your money grow faster and use that as your down payment.
While you are starting a new job you would do best not to buy a place. As you mentioned, your budget would be quite tight, but a down payment will reduce that stress and a year or two of raises will help too.
Take care,
Troy |
|
Carlos R
 |
I tend to agree with Temper's answer. Use the year to improve your credit score. That will save you money on your mortgage. And if this new job, which you've not even started yet, does not pan out, you will have far more flexibility than you would as an owner.
Have you considered renting with an option to buy? That might be a very good choice for you. Try to be sure you know what the sales price will be if and when you do buy, and how much of your rent payments will go toward the sales price. |
|
Bat Thumb
 |
Renting a waste? How so? You're paying for a roof over your head. I'd be hard-pressed to buy a house, but I have a tendancy to move about a bit. You buy, you pay maintenance, lawncare, pest control, taxes, everything. You rent, that's someone else's problem. Re-read your fourth sentence...I think that will answer your question, too. |
|
lowermydebtnow.com
 |
Not sure I agree with you guys. There are many loan products that will allow for lower payments. You could go with and interest only arm, or a pay option arm. Maybe you could get a roommate? Rarely are homeowners really prepared when they buy. There are an array of 100% programs available. Email me for more details. lowermydebtnow@yahoo.com
Best Regards, |
|
Jeffrey F
|
Here is food for thought
If you rent, you are paying someone else's mortgage and you will have nothing afterwards. If you buy, you are building equity in the property and the value of your property will always appreciate.
Second thought. When buying, do NOT go by your gross income, but only your actual take home income.....
Your payment for the mortgage, homehowner's insurance and property taxes combined should be no more than 59% of that take home pay. leaving you with the ability to put food on the table and pay your other bills.
Most financial institutions use your gross income and give you a faulty picture of what you can afford. Don't be caught off guard. ALso, look into historic property tax increases.....Some areas the property taxes are out of control and a 50-60% hike is not unheard of. |
|
Drew
|
wait the house prices are crashing now.
http://www.breakingbubble.com/index.htm |
|
Danielle
|
.. good question, i'm in exactly the same position. i think about the money that i could start earning in equity, but then again i would be completely cash-strapped, and for me that would be an asphyxiating feeling, so instead --right now i rather save as much as i can so that when that time comes i'll have a bit of a down payment (and money to accomodate for other necessities), so perhaps if you wait you could be in a better financial position to make that purchase, best of luck |
|
PLS
|
None of the circumstances you mention preclude buying ayour home, with the possible exception of having a totally new job - that could make adequate financing difficult to obtain.
Owning is better than renting!!!
100% mortgage loan financing is often available for first time home buyers. Downpayment grants can easily be obtained from various governmental units. HUD ( www.hud.gov ) for example has many useful downpayment assistance programs, notably the American Dream Downpayment Initiative. Browse to this webpage for more info:
http://www.first-time-home-buying.net/down-payment-grants.html
Where do you live? A first home that costs $280K is a bit unusual. Perhaps you could start with a lower-priced home and avoid having "barely enough to make ends meet." Being house-poor is no fun at all.
Don't be concerned about not being "fully prepared at this time" for homeownership. It's not difficult and the rewards are immense - both financial and personal. The feeling known as the pride of ownership by itself is "worth the price of admission." I have never yet met anyone who is buying their first home who is anywhere near completely knowledgeable about what they are getting into.
There is a lot of information about home buying available online. Unfortunately, much of it tries to make home buying + owning seem much more difficult than it actually is. A helpful and easy to understand site is:
http://www.first-time-home-buying.net
Best of luck to you. |
|
taysmailbox
|
Plan ,take a year save for ever possible scenario ,if in a year you have the down payment ,legalities monies and dint get any new credit cards or new car in that time ,use your credit wisely in that year (keep it below 50% and pay on time all these things prepare you .
Best of Luck
took me 5 years to get into a comfortable position ,if you don't have a good down-payment the money you think you will be saving by owning now will be gone in interest |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 27 minutes(s) ago
| | | |
9 | 42 minutes(s) ago
| | | |
9 | 1 hour(s) ago
| | | |
9 | 4 hour(s) ago
| | | |
9 | 8 hour(s) ago
| | | |
9 | 10 hour(s) ago
| | | |
6 | 1 day(s) ago
| | | |
9 | 6 day(s) ago
| | | |
9 | 1 week(s) ago
| | | |
9 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
