Zillow Advice RSS: Question-Discussion-Guide,Buying Process,

If my offer is $50 higher and I have a cash sale, legally does my offer stand?

Wed, 25 Nov 2009 13:33:00 GMT

If I have the highest and best offer, and the agent sells to a lower offer (of $50) and we are both cash sales, do I have a legal issue as I wanted the property and should I seek the advice of an attorney? The selling price was posted in Leepa and it was less then my cash offer.

22 replies

Can I assume someone elses mortgage?

Fri, 27 Nov 2009 03:19:00 GMT

4 replies

usda said they couldnt process our app because of funds, does anyone know how the guaranteed way

Sat, 28 Nov 2009 01:58:00 GMT

works rather then the direct? could we do the guaranteed way? im really not sure how it all works but my wife and i are in need of a home soon. thanks!

2 replies

why is the newly-announced $6500 tax credit only for people that have owned their home 5 of 8 years?

Fri, 06 Nov 2009 20:46:00 GMT

Both the house and senate have agreed to extend the $8000 first-time homebuyer tax credit through May 1st, 2010. In addition, ANY homeowner that's lived in their home for 5 of the past 8 years can now also claim a $6,500 rebate as well.
This is big news for those of us in the real estate community, as this credit seems to be the driving motivation behind a large percentage of recent home-buying decisions. But, has anyone heard an explanation why the "must have owned for 5 of the past 8 years" requirement is attached to the $6500?

61 replies

I got scrammed by Century 21

Fri, 20 Nov 2009 01:16:00 GMT

Century 21 misrepresented a listing, and when it came down to the title clearing - it just didn't. A second mortgage was "discovered". Well, I find I'm out a couple grand for a house that I could have never bought for the listing price. This doesn't seem right to me, but I'm not really sure what to do. My realtor is also a Century 21 realtor, and I believe her loyalties are with them. Ah, the problem with the dual agent.

29 replies

5 Deadly Home Trade Up Mistakes

Sat, 28 Nov 2009 00:50:00 GMT

http://www.za77.org/Article/5-Deadly-Home-Trade-Up-Mistakes/5384
So you're thinking of trading up. This time when you buy there is a new wrinkle.

0 replies

What's going on?

Fri, 27 Nov 2009 17:25:00 GMT

This is my situation: Put an offer in on a house, it was not accepted or declined. The purchase agreement date ran out so it was voided. Heard back from the seller and they want to start a short-sale with my initial offer. I just re-submitted a new purchase agreement offer with a date that has now passed for acceptance or decline. Is this voided now?

4 replies

Which compay for pre purchase termite inspection

Mon, 23 Nov 2009 22:24:00 GMT

Hi Zillow experts! I recently got an offer accepted for a two story home in Ontario CA. My agent and I have found some termite damage on the outside of the home near some of the door hinges and window frames. To make sure the structural beams of the house are termite free we are getting a termite inspection done. I want to get everyone's advice on what company they think is the best for a VERY thorough termite inspection. The more answers the better. Thanks.

1 reply

If I have perfect credit and my husands credit is not good, can I get a home loan in my name only?

Fri, 27 Nov 2009 20:17:00 GMT

0 replies

How can I buy a foreclosure home?

Wed, 25 Nov 2009 08:17:00 GMT

3 replies

I'm a first time home-buyer and I need to know a property value.

Wed, 31 Dec 2008 02:44:00 GMT

I'm a first time home-buyer. My agent told me to ask my lender for the property I'm interested in for its value. My lender told me to ask my agent for a CMA to determine the property value. My agent also told me that if a deal is made on the property with a price over the appraised value, I wouldn't get the full amount of the loan that includes the excess amount. If I cancel by then, I would be responsible for the appraisal fee and other fees I don't remember what. My lender told me if the agreed price is over the appraised value, I would have to re-negotiate for a new price. The seller may walk away.

So, who has the information of a property value? Is CMA adequate to predict a property's value? Can I not pay for any fees if I or the seller cancel a deal?

8 replies

Buying my first home: Do I need to hire a lawyer to be present at the time of closing?

Fri, 27 Nov 2009 01:18:00 GMT

http://www.firsttechcu.com/mortgage_home_finance/purchasing_a_home/buyers_guides/mortgage_guides.html

this site suggests that i should get a lawyer to represent me at the time of closing. Is there any advantage in doing this? If so how do i find a lawyer and how much do i need to pay & is this considered as part of closing cost .

7 replies

Benefits of Mortgage Loans

Fri, 27 Nov 2009 05:01:00 GMT

http://www.za77.org/Article/Benefits-of-Mortgage-Loans/3954
Mortgage loan is the generic term for a loan secured by a mortgage on real property; the "mortgage" refers to the legal security, but the terms are often used interchangeably to refer to the mortgage loan.

0 replies

If this house becomes availible for sale I would like to bid on it. This was my 1sthome.

Thu, 26 Nov 2009 03:32:00 GMT

2 replies

Recently moved 2 live in USA.Wd like to work twds buying a house in LA. No Credit.What steps 2 take

Sun, 22 Nov 2009 19:26:00 GMT

2 replies

getting a loan approved for 50k or less , is there a bank out there??

Mon, 02 Nov 2009 22:15:00 GMT

credit score mid 630 and would like to purchase a home in palmdale or lancaster between 40k - 60k . Can a mortagae lender find a bank to process such a small home loan, how do other people buy these homes in the antelope valley for such small amounts

4 replies

I am interested in buying in this neighborhood. Can I obtain a copy of the HOA rules?

Mon, 20 Jul 2009 15:08:00 GMT

2 replies

The right Location???

Wed, 24 Jun 2009 22:24:00 GMT

Quick Scenario:

We are looking fo rour first home to purchase in Tennessee. Currently we live in Antioch and we both are scattered with our jobs. I work in Brentwood, he works in Rivergate, our 5 year old son, who is in private school so school is not a factor, goes to school in the nashville/Antioch area. We both attend MTSU in Murfreesboro and we have no idea where to start looking for homes that would be convient for everything.

I love the downtown location however I am unaware of what streets are decent etc. We need somethign that I wont have to be worried sick if my son is outside playing in the backyard.

We are looking in the 150K area and need atleast 3 bed/2 bath with some sort of yard for the dog. Preferably 1500 sq ft.+

Any help on location primarily.

4 replies

little cash but when I sell my home, I will have about 140,000 and be debt free. Get a mortgage?

Fri, 25 Sep 2009 21:53:00 GMT

4 replies

Avoid The Most Common Buyer Errors

Thu, 26 Nov 2009 06:32:00 GMT

Shopping for a new home is an emotional experience. It is, however, also a business transaction, and must be treated as such.
Three of the most devastating things that can go wrong are:
Paying too much
Losing a dream home to another buyer
Buying the wrong home
When you have a systematic plan before you shop, you'll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:
Buy YOUR home: What do you need and want in a home? Sounds simple, but clearly identifying your needs and bringing an objective view to home shopping leaves you in a much better position. How much space do you really need? Too small and you may feel like you live in constant clutter. Too big and maintenance may become too daunting. Outline all of your priorities, and work on finding not just a great home, but a great home for you.
Minimize the unexpected: For $300 - $500, a professional inspector will conduct a thorough inspection of the home. Their expertise can mean the difference between uncovering major flaws before or after you own a home. Make the final contract subject to the report's findings.
Get pre-approved: It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.
Remember additional costs:Besides the funds for the purchase of a home, you'll need funds for items such as loan fees, insurance, legal fees, surveys, inspections, etc.
Take a deep breath: Before you sign, ensure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Don't rush. You could lose money, financing, or even the sale if you attempt to push things through too hastily.

0 replies