Advice

  • (49 Contributions,
  • 1 Best Answers,
  • 7 Helpful)

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Help With Construction Mortgage

Answer

If you are building an 1,800 sq ft home at a cost of $125.00 per sq ft (typical for my market) the cost of the structure will be about $225,000. Normally the lender wants the borrower to have 20% equity on a construction loan - so they will be looking for about $45,000 down.  If you have $25,000 in cash, the lot will only need to appraise for $20,000 in order to meet the 20% down requirement.  

  (0)
When is the best time to list our house?

Answer

The best time to sell is now!  There are just as many buyers now as there will be in April - and far fewer homes.  Waiting for April will only increase the number of competitive homes for sale - the buyer pool will be the same. 

  (0)
Home Inspectors

Answer

It depends on when the home was built.  In Ohio, the accepted method of installing a copper roof above a walk out bay window turned out to be an issue - but it wasn't discovered until 10 years after they were installed.  If the issue was discovered shortly after you took possession, there is a chance the seller knew about the issue - and if so - it should have been disclosed to you.  If the contractor you have hired to correct the issue can find evidence of a prior repair that was not disclosed - you will have a case against the prior owner, not the home inspector.  I represented a buyer in Ohio that received significant compensation from the prior owner in a case like this.  Most home inspectors charge $350 for their service - and limit their exposure to the amount they charged for their service....so the best option for reimbursement is from the prior owner.

  (0)
as a seller what costs will I pay at closing?

Answer

In our area, sellers pay a conveyance fee (also known as a transfer tax),one half the escrow fee, one half of the title insurance, the cost of the title exam, the broker fee, and the cost associated with discharging any lians against the property.  Other fees will include: real estate tax pro ration, special assessments, and HOA fees through the date of closing.

  (0)
Frustrated with our agent!

Answer

Not all feedback is created equal!  I understand your desire for feedback...after all, you go through a lot of trouble getting ready for a showing.  It is not unreasonable to expect feedback.  However, when you do get it, it may not be valid!  Over the years I have found that I get feedback on about 60% of the showings.  Only half of that feedback is valid... The most important feedback you can get is when one of the top 20% of Realtors in your specific area shows your home.  In those cases, I get feedback 100% of the time, and it is useful. The other thing you can do to feel better about your listing is to have your agent schedule a home tour so that you can see the competing properties.  At the end of the tour, you will either feel better about the listing, or you may realize a price adjustment is in order.  Good luck, and good selling!

  (0)
can the seller do that? is it legal?

Answer

I would suggest signing a document "rescinding" your offer if not approved by a certain day/date/time.  If I were representing you, I would suggest within 24 hours.  Good Luck!

  (0)
Can I sell my house for cash to my neighbor? Nevada

Answer

That is the BEST way to sell your home!  No appraisal issues, no buyer qualification problems, and you might even save $$$$ on title insurance. You should complete a residential property disclosure, and the buyer should have a home inspection.  Talk with the local title company and see if they have an attorney on hand that can handle the paperwork for you.Good Luck!

  (0)
where do you guys get your facts on homes ? from Kelly blue book? what fools

Answer

Zestimates are based on statistical data.  They do not include the price you paid for your home in their analysis.  I do agree that some Zestimates are low, some are fairly accurate, and others are too high.  The only way to get a reasonable estimate of actual sale price is to contact a local REALTOR to do a market analysis.

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