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The bank didn't think the comps were comparable. I had the same problem with my house a couple of years ago, the comps said it was worth 400k and I was paying 220K. The bank had a fit. Come to find out it was really worth 220k, heh.
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Jul 29, 2010 22:06
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Home Depot contractors are among the worst, but they should minimally be insured and licensed which beats most craigslist guys. Have you considered buying a house that doesn't need escrowed repairs? I think that is the way to go if you are not doing the repairs yourself.
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Jan 14, 2011 22:27
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There is no carpet under that media center. I would guess $1,500 would get it done. Get an estimate before you put an offer on the house.
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Jan 26, 2011 15:46
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When did you buy in Detroit? That area has been in decline since 1972.
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Jan 31, 2011 03:14
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Looking up owed taxes is as simple as calling the assessor or treasurer. Those balances are public records available to anyone. Find out if your neighbors are deadbeats or not. Most are even available online so you won't even need to talk to another human.
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Feb 15, 2011 20:57
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Schnozzberry posted:Is it a bad idea to sell my home to my brother? If you are going to pay for an appraisal, get it through the lender your brother is going to use so he doesn't have to pay for one twice or once. They use some voodoo blind appraisal rules now to get rid of bank appraiser collusion.
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Apr 26, 2011 16:18
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Your realtor may have given up on you actually ever buying a house. That is probably why they don't spend any time communicating with you.
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Jun 13, 2011 19:25
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entr0py posted:Is anyone familiar with real estate in St. Louis (county areas)? Well I think that you should try negotiating the rental prices with a longer term lease. The relator expense in selling a 300k house is going to be $21,000 assuming you can get what you pay for the house. That pays for one years worth of your 3 years lease.
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Jun 21, 2011 21:24
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Leperflesh posted:Speaking of... how does PMI interact with the recourse thing? That is, if a bank forecloses, and then sells the property for less than the outstanding debt, surely they can either sue for the remainder (in a recourse state), or make a claim against the mortgage insurance, but not both, right? In which case, if you're still paying PMI, isn't that some degree of protection? Because why would a bank go to the trouble and expense of lawsuit when they can just make an insurance claim... I don't know the specifics of the policy you are referring too, but normally if there is a recovery that was covered by an insurance claim, the recovery goes to the insurance company. It works the same where when insurance pays for a stolen car. If they find the car after you buy a new one, the insurance company gets the car and sells it.
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Aug 8, 2011 22:22
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The Netherlands are awesome as long as global warming or housing prices don't put you under water literally or figuratively do it.
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Oct 20, 2011 19:04
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Here is how a broker works, every day and sometimes twice a day lenders issue rate sheets. These sheets list interest rates and points to get a loan at that rate for various categories of loans and credit scores. Some of the rates have negative points, meaning they pay the broker that percentage of the loan for bringing them a qualified borrower at that rate and successfully closing the loan in the stated lock time. This could be the source of your refund or you could have borrowed more then you owed to payoff the other loan.
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Oct 26, 2011 23:07
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Closed on my no cost 3.99% fixed rate 30 year mortgage refi today. Operation twist was a success.
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Nov 1, 2011 16:30
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You need to establish service and turn ons for utilities before or slightly after possession if you want to use them from day one. The seller will have them turned off before then unless they are dumb.
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Nov 3, 2011 20:28
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She needs a lawyer. If she can prove she was under the age of consent she can get off the mortgage. She can also argue she was tricked into signing for the mortgage or that she didn't sign at all.
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Nov 8, 2011 21:45
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Captain Windex posted:This, and you'll probably have trouble finding a broker and a bank willing to A credit union will do it no problem. They don't work on commision based upon bad loan size.
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Nov 14, 2011 14:01
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Well your agent should have put a short expiration on your offer. I would suggest you rescind your offer and lower it 20k to show the listing agent you don't like bullshit.
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Dec 1, 2011 20:35
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Kalli posted:I recently replaced some 50 year old single pane windows in my house, and in the bonus room, there was... absolutely no insulation at all between the paneling and exterior wall. (I figured it was thin and flimsy considering how thin it had been in the kitchen, but poking in and seeing nothing just made me laugh.) People used to put on sweaters in the winter and just deal with 55 degree houses. Now if the internet goes out people start killing each other.
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Dec 12, 2011 23:01
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ElPottoGrande posted:Alright, I think this is the right place/thread to ask for some advice. We buy houses ads are always scams. If you insist upon buying a 150K loonie condo, I would not, get your current condo listed for sale ASAP. I think you are going to find out that the 2% mortgage is both adjustable, and subsidized by the builder for a very limited time, usually one year, at which point you will see your payment double. So 1) No 2)Always a SCAM 3)Less debt is always better, no one cares if you rented or owned before. 4)Is Toronto not a huge bubble real estate market that has yet to burst?
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Jan 19, 2012 19:52
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Your builder should being doing all this not you. Just make it so 100% of members have to approve new rules, then you can veto all rules by not voting. No rule HOA. You are going to have to charge fees as tax returns etc. will need to be filed until you can legally dissolve the HOA.
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Jan 19, 2012 22:03
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Guacala posted:It would make sense to get loan amount approval from the bank before looking at homes. I would get started now, if you don't want to bother an agent just go to open houses. Most agents won't mind you looking a long time as long as you are upfront with the fact that you will want to look at a ton of places before you buy. I have never though gee I wish I would have looked at less options and spent less time before I decided on the most expensive thing I will ever buy.
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Jan 26, 2012 21:18
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BOA will write a new purchase agreement that completely changes the terms of the sale, send it to you with a one day limit on it's acceptance terms. I am so glad we bailed these aholes out. Too big to fail!
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Jan 28, 2012 15:37
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The Aphasian posted:
Um someone who wants an already liquidation priced house at half price? I would check every 4 hours if I qualified for this.
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Feb 2, 2012 15:08
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Realjones posted:Aren't home appraisers sort of "under the table" expected to appraise a home for at least the projected sales price? They used to be and that was part of the problems leading to the bubble. Now they are contracted by a third party and they don't even know the contracted sales price. This is supposed to make them independent.
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Feb 4, 2012 21:56
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Cynode posted:my mother in law is moving in with us This is the only idea worst then buying a house.
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Feb 14, 2012 19:51
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Splizwarf posted:Your in-laws are horrible and/or you don't have a baby/toddler. I prefer Mary Poppins. I can fire her without hurt feelings.
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Feb 15, 2012 16:22
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How is a landlord able to rent out a town home for $1000 a month that he is paying $500 a month property taxes on? Does this landlord not have the same monthly expenses as an owner occupier? I think there is a logical disconnect somewhere in the assumption that a landlord is able to sustain losses forever and never has pressure to increase prices to cover these expenses or be foreclosed upon by creditors. If you are not planning on living in a house for 20 years then you should probably rent, but to think that renting over the long term is going to be magically half the price of owning is not a reasonable expectation.
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Feb 21, 2012 16:09
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Public company builders build for the 10 year warranty period only. You are going to default on it in 4 years anyway so what difference does it make! Welcome to the new normal.
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Mar 7, 2012 17:56
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I Might Be Adam posted:A couple of noobie questions here: When you say her name is on the house I assume you mean she is responsible along with the ex for the mortgage and it shows up as her debt on her credit report? This is a problem and your wife had a terrible divorce attorney if it is the case. Also if you are worried about two months rent home ownership might not be such a good idea. You will often face repairs costing 12 months rent, i.e. do never buy. On a plus side you can normally skip a month before payments start making it not so bad if you are low on liquidity.
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Mar 12, 2012 20:19
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Why would a mortgage insurance company discourage a borrower from lowering their interest expense? I don't see how this would increase the risk and it probably prolongs the amount of time PMI will be carried.
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Mar 23, 2012 21:11
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Condo fees usually exceed what you could pay someone to mow your lawn every week. If that is your main concern it shouldn't be. Lawn care is cheap.
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Apr 4, 2012 14:17
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New roof on garage, $3,000. Replacing steps that I knew were bad when I bought the place $3,000. Don't buy, just don't do it.
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May 17, 2012 14:47
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Well the house was a repo with a ton of deferred maintenance. The steps are not just 4 steps going up to an entry door. It is a walk out basement with sweeping steps going up both hills. I think they are pouring 10 yards of concrete. I find that a competent contractor is worth paying for. I am not a competent contractor. My renting friends like to laugh at me so I though you guys would enjoy my misery also.
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May 18, 2012 15:07
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The only complain I have heard about trex decking is that it gets foot burning hot. The darker and denser the composite the hotter it gets in the sun.
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May 30, 2012 15:16
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What is the P and I payment on a 100k house? $500? Congrats. In 20 years your mortgage payment is going to be cheaper then a tank of gas. Elephanthead fucked around with this message at 16:10 on Jun 1, 2012 |
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Jun 1, 2012 16:07
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It is easy to tell where the "good" schools are as the housing prices will be higher in those hoods. There is a very strong correlation between perceived school quality and housing prices. There are exceptions especially if private schools are the norm for a neighborhood. Most states rate schools in a variety of ways also.
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Jun 21, 2012 19:49
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Shipon posted:This problem will sort itself out soon when the stubborn sellers end up sitting on their asses with a property for several years... That is one of the problems with housing, people are reluctant, or can't sell below what they paid. Foreclosure doesn't even seem to solve the problem as the bank have no interest in selling since they get free money from the taxpayer. (Fannie and Freddie or the fed buying the bad paper for full price.)
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Jun 22, 2012 20:25
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Advent Horizon posted:You drill wells well below the frost line and pump coolant through. Get deep enough and the ground is a pretty constant 55*F or so. It's also possible to run them horizontally in a trench if you have the space. I am pretty sure the Canadian guy is talking about regular air exchange heat pumps, but these are much better.
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Jun 30, 2012 16:26
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skipdogg posted:I would stop messing around with a for profit bank and go find an independent mortgage broker who will work to get you the lowest rate possible. If you're willing to pay 2 points up front there is no reason you shouldn't be walking away with sub 4% There is nothing wrong with for profit banks, just Chase is not a company you should do business with. Credit unions and small local banks can be pretty awesome.
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Jul 1, 2012 15:45
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Citycop posted:Personally I would not take an offer very seriously if it has a disclaimer at the the top like that. I mean if I like the offer I would accept it but make the buyer aware that I will sell the house immediately to the first buyer that ponies up actual money, including lower offers. Yeah you can't really do that. That is not accepting the offer. You either accept the terms or you don't accept the offer. An offer is a contract. Normally there is a time limit and a fee for taking the house off the market for the specified time or the offer will just be ignored. As a seller I would want to know if the house being sold is offered at a reasonable price or not before accepting the offer.
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Jul 2, 2012 15:12
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I am not saying it is a good idea to accept contingent offers, I am just saying what you propose is not accepting the offer. Why are you building in a market full of inventory? You could probably do better with a pre owned home combined with a renovation.
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Jul 3, 2012 22:04
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