Buyer & Seller Info

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Buying Your Home
Here are answers to your home buying questions. Each of the questions is answered in detail. If you don't see the answer to your question here, contact me right away and I'll be happy to address your inquiry personally. 1. Can I buy a house that is worth 20% more than I pay for it and use that 20% to avoid paying PMI? Response: unfortunately this would not be acceptable to a mortgage lender. The bigger issue would be finding a home that would appraise at 20% higher than the contract price - can't imagine that being probable, especially in this market. 2. Can I see houses before I decide to buy? Response: of course you can. Contact a professional and be up front with your desire to see a few homes before you jump into the process. But, understand, we list and sell properties. We are not entertainers or tour guides. Any professional will be happy to spend some time with you for an area overview but if you expect to continue working with a professional you will need to get prequalified by a direct lender and follow the process. 3. Can I make repairs or changes to a house while we are waiting to close on the loan? Response: you would not be allowed to alter a property that you do not yet own. It would be a liability for you to do so, and you could possibly lose your investment of time and money if you lost a job prior to closing or something else prevented you from obtaining loan approval. Not a good idea. 4. Since foreclosures are empty can we go ahead and move in after we put a contract on one? Response: no, again, you cannot alter, occupy or change a property that you do not own. 5. What happens if I find a house I like better after the due diligence period ends? Response: it's called "binding agreement" for a reason. Once you sign a contract and your due diligence option period ends, you are obligated to close on the purchase. 6. Can I buy a house and then rent out part of it? Response: most single family home residences are zoned by the county or municipality as single family residences. Renting a portion of the space would not be permitted.
My Home Finder
Selling Your Home
Do you have questions on pricing your property, preparing your property to sell, tax considerations, and where to get more information? You'll find answers to key questions here. 1. Since I won't get my equity out of my house but I want to sell, should I just list it for sale and not do anything to the property? Response: it depends on the condition of the property. A small percentage of homeowners who regularly maintain and keep their homes in excellent condition could probably list their property and show without doing anything - but, only a very small percentage. Properties need to be staged and prepared for sale. The way that we live in our homes and the way that they should be presented as a "product" for sale, are two very different things. 2. I love my wallpaper and I can't stand the idea of removing it just because my agent says I should. Can't I just give the buyer an allowance for paint? Response: No. Most buyers today are financing FHA and seller allowances will not clear final underwriting. Then, at the last minute, parties and agents are scrambling to re-negotiate the issue satisfactory to the lender. You do not want to go there trust me. Just remove the wallpaper and paint in a neutral beige color. Your home will have a chance of selling when it otherwise may not. 3. We like being different - our bright green shutters and front door make our home unique but our agent says we have to paint them black or dark dark brown. Why? Response: we are marketing to the masses - we are not trying to find the one buyer who would agree with your taste. Trust me, it makes a difference. I have actually refused to continue working with sellers who just refuse to take my professional opinions and advise as relevant and important to the success of their sale. If the seller constantly argues and challenges me on every point while I am doing everything I can to give them the best chance of selling their home quickly and for as much as possible, why should I beat my head against the wall and spend my money marketing it? I can spend my time helping a seller who wants my professional guidance.
Owning Your Home
Anyone who owns a home or intends to own a home will find value in the answers on the topics of Home Owners Associations, home improvements, hiring a contractor, or the appreciations of home values.
Your Mortgage
The complexity of the variance property financing options is discussed. There are answers to financing questions, organized by financing type.
Investing in Real Estate
What to invest in, tax considerations, and how to start investing are topics that are covered in this section of questions and answers.