Profile picture for Cara Keys

Cara Keys

Agent

Real estate agent

Specialties:
Buyer's Agent,
Listing Agent

Advice

  • (4 Contributions,
  • 1 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

Looking at buying a HUD home...found a great one after getting approval from the lender and a GFE...

Best Answer

There's a big difference in being pre-approved and pre-qualified so make sure your lender explains the difference to you.  I agree with Steve that you should go ahead and get your bid submitted asap.  Once you have it under contract, you will have 45 days to get your loan approved.  I know you are excited about getting this home, but HUD properties can be intense and you'll need a good working relationship with your lender because they will be asking you for a lot of information to complete their files.  Also know that sometimes the earnest money you put down is non-refundable so make sure you understand that up front.  Your agent will be your guide so ask him/her as many questions as you need to to be comfortable with the transaction.Happy Buying!!

  (0)
Log home appraisal comps

Answer

I just checked our MLS and there were 14 homes that sold in the last 6 months with a log exterior.  If your bank is not willing to do your loan, I would check with the agents who represented the buyers on these homes to get the names and numbers of the lenders they used.

  (0)
I found another property..make me an offer?

Answer

"Make me an offer" is just that.  It sounds like this is a very motivated seller who wants out of his current house to move into the one he's found to purchase.  Translation - You will probably get a good deal on this home.

  (1)