Zillow Advice RSS: Question-Discussion-Guide,Home Buying,RI http://www.zillow.com/advice/RI/home-buying/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Investment Home purchase http://www.zillow.com/advice-thread/Investment-Home-purchase/563294/ We recently purchased a second home using a home equity line of credit.&nbsp; We paid 100% cash for the home. It is valued at $230,000. &nbsp;We'd now like to purchase an investment condo in the same community.&nbsp; Can we use the equity from our second home to purchase the investment property?&nbsp;<br \><br \>1 reply Fri, 17 Oct 2014 21:12:00 GMT http://www.zillow.com/advice-thread/Investment-Home-purchase/563294/ 2014-10-17T21:12:00Z Lender Issue http://www.zillow.com/advice-thread/Lender-Issue/562316/ Long story short, we were going through lender to buy a house. They gave us a commitment. Then over the next 2 weeks or so they started telling us they were having trouble getting tax transscripts for my co-borrower. My co-borrower followed up with the IRS and found out there was something going on that was out of his control. He got several forms from the IRS when he said he was being asked to clarify things by the lender and sent those in to the underwriter for review. They kept coming back saying they needed a letter written by the IRS clarifying everything. The IRS response was that they do not provide custom letters like that. The forms they gave us should be used for clarification. In the end the lender refused to move forward and we got a denial letter.<br/><br/>Anyway, since the commitment came in and we were just waiting to close, is my deposit at risk? My realtor says it is, because the commitement was given but we never closed. I feel like there should be something protecting us though because we were technically denied financing in the end. Does anyone have experience with this? Do we have any legal recourse with the lender to get our deposit paid to us if the seller takes it?<br/><br \><br \>2 replies Thu, 09 Oct 2014 20:29:00 GMT http://www.zillow.com/advice-thread/Lender-Issue/562316/ 2014-10-09T20:29:00Z How much below asking price can an offer be on a home? http://www.zillow.com/advice-thread/How-much-below-asking-price-can-an-offer-be-on-a-home/556750/ 6 replies Wed, 27 Aug 2014 13:18:00 GMT http://www.zillow.com/advice-thread/How-much-below-asking-price-can-an-offer-be-on-a-home/556750/ 2014-08-27T13:18:00Z s disclosed as having settling in the center and one side of the house? http://www.zillow.com/advice-thread/s-disclosed-as-having-settling-in-the-center-and-one-side-of-the-house/551223/ If disclosures say there is settling in the middle of the house, and the side of the house, but there has been reinforcement on the basement brackets, what is the risk to buying the home?<br \><br \>1 reply Fri, 25 Jul 2014 00:52:00 GMT http://www.zillow.com/advice-thread/s-disclosed-as-having-settling-in-the-center-and-one-side-of-the-house/551223/ 2014-07-25T00:52:00Z Should we hire our own lawyer http://www.zillow.com/advice-thread/Should-we-hire-our-own-lawyer/550510/ 12hrs before closing our buyers lender found a problem w/buyer &amp; closing was cancelled AGENTS never saw this ever happen before buyer is w/another lender now &amp; we are waiting approval &amp; closing date however if this does not happen we will not close &amp; therefore will not be able to buy the house that we put 11,000 on.the agent of the house we are trying to buy has relisted it &amp; is trying to keep our deposit but our contract clearly states that that deposit is to be returned to us if we can't secure a mortgage my question is the attorney handling closings is the attorney for us and our buyer I think that's a conflict of interest should be at this point find our own attorney?hopefully the buyers new lender will approve &amp; we will close but if it is rejected we are in trouble our house has been completely empty we are sleeping on the floor we are paying for a pod &amp; a uhaul we feel like we really getting screwed at this point any suggestions?<br \><br \>1 reply Mon, 21 Jul 2014 03:23:00 GMT http://www.zillow.com/advice-thread/Should-we-hire-our-own-lawyer/550510/ 2014-07-21T03:23:00Z How much can I ask the sellers to come down in price for garage in badly needed repair. http://www.zillow.com/advice-thread/How-much-can-I-ask-the-sellers-to-come-down-in-price-for-garage-in-badly-needed-repair/550581/ The house was appraised to include a 600 sq 2 car garage. &nbsp;It doesn't take into consideration that the inspection report shows due to a fire, the majority of the ceiling, roof, and loft structure are heavily damaged along with a significant sag and need to be replaced. There are holes throughout so it leaks pretty bad. &nbsp;One of the doors does not function at all. The property has been appraised at 160K, the sellers are asking 150K. &nbsp;How much value is put on a 2 car garage?<br \><br \>4 replies Mon, 21 Jul 2014 15:45:00 GMT http://www.zillow.com/advice-thread/How-much-can-I-ask-the-sellers-to-come-down-in-price-for-garage-in-badly-needed-repair/550581/ 2014-07-21T15:45:00Z WHEN BUYING A CONDO WITHOUT FINANCING(CASH) IS IT NECESSARY TO HAVE A LAWYER INVOLVED AND WHO SETS U http://www.zillow.com/advice-thread/WHEN-BUYING-A-CONDO-WITHOUT-FINANCING-CASH-IS-IT-NECESSARY-TO-HAVE-A-LAWYER-INVOLVED-AND-WHO-SETS-U/541615/ 4 replies Tue, 20 May 2014 09:40:00 GMT http://www.zillow.com/advice-thread/WHEN-BUYING-A-CONDO-WITHOUT-FINANCING-CASH-IS-IT-NECESSARY-TO-HAVE-A-LAWYER-INVOLVED-AND-WHO-SETS-U/541615/ 2014-05-20T09:40:00Z what was the sale price of 5 Courageous circle, bristol,ri http://www.zillow.com/advice-thread/what-was-the-sale-price-of-5-Courageous-circle-bristol-ri/546515/ 2 replies Sat, 21 Jun 2014 17:21:00 GMT http://www.zillow.com/advice-thread/what-was-the-sale-price-of-5-Courageous-circle-bristol-ri/546515/ 2014-06-21T17:21:00Z Need a workshop more than a house http://www.zillow.com/advice-thread/Need-a-workshop-more-than-a-house/523762/ <p class="MsoNormal">Hello<br/> I am a mechanical engineer (28 years old) and I have strong aspirations to start my own business.&nbsp; I am interested in beginning a small manufacturing business that makes high end consumer goods. I know I can be successful, but I don't have the workspace to begin. &nbsp; I currently do not own a home and I am renting from a family member.&nbsp; The perfect situation for me would be a small house with a huge garage or workshop.&nbsp; I don't see many properties like this because large workshops tend to come with large homes and the cost is too high.&nbsp; I am not interested in renting a workshop at this time.&nbsp;<br/><br/> So I have been thinking about buying a small older industrial property instead of a house.&nbsp; I need a workshop more than I need a place to live.&nbsp; Is an industrial property automatically more expensive than a residential home?&nbsp; Can I buy an industrial property if I don't have an official business started?&nbsp; Where is a good place to look for properties like this?&nbsp; Any information or advice you can give me would be greatly appreciated.&nbsp;</p><p class="MsoNormal">Thanks in advance.&nbsp;</p><br \><br \>4 replies Wed, 08 Jan 2014 18:17:00 GMT http://www.zillow.com/advice-thread/Need-a-workshop-more-than-a-house/523762/ 2014-01-08T18:17:00Z how do forclosures and preforclosures work? I am looking for a home in middletown ri? http://www.zillow.com/advice-thread/how-do-forclosures-and-preforclosures-work-I-am-looking-for-a-home-in-middletown-ri/527823/ 2 replies Sun, 09 Feb 2014 19:52:00 GMT http://www.zillow.com/advice-thread/how-do-forclosures-and-preforclosures-work-I-am-looking-for-a-home-in-middletown-ri/527823/ 2014-02-09T19:52:00Z Is 50 laureldr for sale? http://www.zillow.com/advice-thread/Is-50-laureldr-for-sale/521633/ 2 replies Sun, 15 Dec 2013 00:34:00 GMT http://www.zillow.com/advice-thread/Is-50-laureldr-for-sale/521633/ 2013-12-15T00:34:00Z Whose responsibility is it to bring a property that is for sale up to code in Rhode Island ? http://www.zillow.com/advice-thread/Whose-responsibility-is-it-to-bring-a-property-that-is-for-sale-up-to-code-in-Rhode-Island/522448/ Who checks on it to see that it is up to code? &nbsp;Who Pays for it?<br \><br \>4 replies Thu, 26 Dec 2013 16:42:00 GMT http://www.zillow.com/advice-thread/Whose-responsibility-is-it-to-bring-a-property-that-is-for-sale-up-to-code-in-Rhode-Island/522448/ 2013-12-26T16:42:00Z Is there any help to buy a house with my income of ssdi only, and I am a student. If so how and who http://www.zillow.com/advice-thread/Is-there-any-help-to-buy-a-house-with-my-income-of-ssdi-only-and-I-am-a-student-If-so-how-and-who/512091/ 3 replies Fri, 20 Sep 2013 04:33:00 GMT http://www.zillow.com/advice-thread/Is-there-any-help-to-buy-a-house-with-my-income-of-ssdi-only-and-I-am-a-student-If-so-how-and-who/512091/ 2013-09-20T04:33:00Z What can I do to get more (or better) quotes for my loan request ZR-ZWCTTRZ? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-ZWCTTRZ/519655/ 1 reply Thu, 21 Nov 2013 02:37:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-ZWCTTRZ/519655/ 2013-11-21T02:37:00Z How do you find REO property in Westerly http://www.zillow.com/advice-thread/How-do-you-find-REO-property-in-Westerly/519503/ 3 replies Tue, 19 Nov 2013 18:57:00 GMT http://www.zillow.com/advice-thread/How-do-you-find-REO-property-in-Westerly/519503/ 2013-11-19T18:57:00Z Are you a first-time home buyer trying to understand the buying process? http://www.zillow.com/advice-thread/Are-you-a-first-time-home-buyer-trying-to-understand-the-buying-process/519013/ <em>[self promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]</em><br \><br \>2 replies Thu, 14 Nov 2013 18:23:00 GMT http://www.zillow.com/advice-thread/Are-you-a-first-time-home-buyer-trying-to-understand-the-buying-process/519013/ 2013-11-14T18:23:00Z Short Sale http://www.zillow.com/advice-thread/Short-Sale/518390/ I am quite disgusted, I called an agent regarding a short sale property that was only on the market for 16 days or so, she said it is sold/pending, I said being a short sale can't I put an offer in on it? She said no, I said I thought in a short sale the bank accepts multiple offers and accepts the best one so they help curtail their loss. She said no, the seller accepted the offer and it is contracted only one offer??? She was snipy w/me. I am quite agravated because people have "INS" on these deals!!! Is there anything I can do? I want to offer full listing price!!! What can I do in this case if anything?<br \><br \>1 reply Fri, 08 Nov 2013 19:06:00 GMT http://www.zillow.com/advice-thread/Short-Sale/518390/ 2013-11-08T19:06:00Z ANYONE INTERESTED IN LEARNING THE STEPS TO TAKE TO BUYING A HOME? http://www.zillow.com/advice-thread/ANYONE-INTERESTED-IN-LEARNING-THE-STEPS-TO-TAKE-TO-BUYING-A-HOME/518290/ [Removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]<br \><br \>1 reply Thu, 07 Nov 2013 20:57:00 GMT http://www.zillow.com/advice-thread/ANYONE-INTERESTED-IN-LEARNING-THE-STEPS-TO-TAKE-TO-BUYING-A-HOME/518290/ 2013-11-07T20:57:00Z how much to attorney's charge for closing in Rhode Island? http://www.zillow.com/advice-thread/how-much-to-attorney%27s-charge-for-closing-in-Rhode-Island/517847/ I was told my the bank around 500 dollars. &nbsp; But my realtor gave me a referral and it's an estate sale &nbsp;and said it would be around 1500. &nbsp; That is a Huge difference .<br/><br \><br \>1 reply Mon, 04 Nov 2013 14:19:00 GMT http://www.zillow.com/advice-thread/how-much-to-attorney%27s-charge-for-closing-in-Rhode-Island/517847/ 2013-11-04T14:19:00Z Is the property @ 57 Silo Drive, Cumberland, RI available? http://www.zillow.com/advice-thread/Is-the-property-57-Silo-Drive-Cumberland-RI-available/515118/ 0 replies Sun, 13 Oct 2013 15:11:00 GMT http://www.zillow.com/advice-thread/Is-the-property-57-Silo-Drive-Cumberland-RI-available/515118/ 2013-10-13T15:11:00Z