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juan castro's Advice

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  • 12 Contributions
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juan castro wrote:

What is a reasonble fee to pay a realtor for their help with closing?

Response
Greetings, I would ask the agent to help you with the contract preparation process as well as provide expertise in the closing process and contacts for that process. In my experience in my area the range for such a service is between .75 or 1% of the contract price. Keep in mind that the agent helping you in the process will not get this fee unless you close the transaction and the fee will need to be paid on the closing statement to his or her brokerage.
September 06 2013
(0)

Moving to oviedo florida area

Answer
You will love Oviedo! nice small town feel while only minutes to the city. Great schools and Great community. Look me up if I can be of service. Juan Castro
August 09 2013
(1)

Purchasing an investment property in Orlando Fl.

Answer
The key is what are you looking to rent and what is the type of return. I have many investors that have purchased and 2 bedroom condos for that price range and pay the condo fees of around 250 mo and then pocket the rest. They generate about 750/850 per unit and their plan is to hold for 7 years to recover all their principle in rents then sell and get the full equity out with any additional profit on top of that. I suggest you go this way, I believe you will need to buy cash, not many condos will have the ability to finance due to occupancy of owners and low mortgage amount for a bank to finance. Good Luck, If interested look me up in Orlando if you have any questions. Thank you,
August 09 2013
(0)

Relocating for job in Altamonte Springs, FL July 1

Answer
Greetings, I suggest you look at East Orlando. It will offer you some great communities like Avalon Park, Stoney Brook and Waterford Lakes not to mention Lake Nona (medical city). These areas are great for families and young couples. Great Schools, Structure and Shopping/Dining you will probably enjoy.
May 30 2013
(0)

What is meant by "Pre-Foreclosure" (Auction)

Answer
This would be a property that is working toward foreclosure but is being offered by the loan servicer or lender directly as a auction purchase opportunity. If a buyer purchases this property in auction then they would have to continue the foreclosure as if they were the lender or servicer. I have seen this as a way for a lender or servicer to get rid of a problem property
March 22 2013
(0)

Is it time to lower the price ?

Answer
Greetings, Homes all sells based on price vs condition in their respective markets. I suggest you revisit the most recent solds, pendings and actives to determine if anything has changed. I also suggest you get a print out of the MLS from the broker to see how the data is entered to ensure it represents what you want.
March 22 2013
(0)

Know any Home Buyer Assistance Programs available to use with VA Loan?

Answer
Greetings,The easiest way is to simply ask the seller to credit the buyer at closing the cost associated with the transaction. The lender should be able to give a estimate of these fees. You may have to pay full list price if it is a fair value but you will likely save thousands in closing costs and at these low rates it will not impact your monthly payment much.
March 13 2013
(0)

First time home buyer with bad credit

Answer
Greetings, I suggest you pull your own credit with annualcreditreport.com it should be free. Then you can see where your starting point is and what any other parties would see. After that get with a local banker with a reputable bbank and ask them to help guide you toward home ownership many banks like Chase and Wells offer these programs free of charge. They will help steer you in the proper direction and track your progress with you.
March 13 2013
(1)

Ethical question

Answer
Greetings,I suggest you offer what is appropriate in the marketplace today for the home. After all you still obviously have a interest in that property.
March 13 2013
(0)

CAN I ROLL CLOSING COSTS INTO AN FHA LOAN?

Answer
Greetings, Might I suggest that you consider asking the seller to contribute towards your closing costs. If you are already under contract working toward closing once the appraisal is completed you can then see if the home appraised for more that the purchase price and try to roll the costs into the loan. Basically the seller would credit you back the balance at closing to cover those fees. Keep in mind that most banks will have limits for how much a seller can contribute, likely about 3% to the buyer. If you do not have the property under contract yet, simply have your local agent make it a condition of the agreement while negotiating.
February 12 2013
(0)