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Jennifer Erickson's Advice

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  • 309 Contributions
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  • 67 Helpful

Jennifer Erickson wrote:

Home insection

Answer
You should be directing these questions to your broker and/or attorney.  Home purchases and sales are large transactions and should be handled by people you trust, not a forum on a website.  You are getting some good answers on your questions but are really putting yourself out there for problems with your transaction.  If the inspection is done on the 9th the buyer will probably have the report that evening or next day.  They will then review with their agent and either renegotiate the price, ask for repairs, move forward to purchase and sale or back out altogether.  They do not have to share the report with you.  They have to give you notice of what they are doing by the end of the inspection period spelled out in the offer contract.  If they back out or a new agreement cannot be reached regarding a price adjustment or repairs needed within the inspection period you would return the monies they put down with the offer and put the property back on the market.   Hopefully it goes smoothly and you move on to purchase and sale.  Consider getting at the very least an attorney involved though to protect yourself.  
May 07
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when buyers pre approval letters

Answer
They should if their loan officer is being thorough.  I would not trust a preapproval letter from a loan officer that has not thoroughly vetted the client.  The loan officer should have reviewed income documentation, asset documentation and know what the issues may or may not be.  The lending industry is volatile right now and a verbal application with no documentation review just does not cut it.The buyer can certainly change the terms of their mortgage but if their contract says they have to get a loan with 10% down then they cannot back out of the contract because they do not qualify for a 5% down loan.  They would have to show a denial based on the 10% down.  Confirm this with your attorney to be sure, this is my understanding.If you have concerns regarding the preapproval your agent should be discussing with the other agent and/or the buyer's lender to confirm these buyers are really qualified to purchase.  You should get your agent and your attorney involved to avoid hassles down the road.
May 05
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we have gave a counter offfer to buyers 5 days ago they have came back once how long should we give

Answer
You should have your agent find out what is going on.  What are they looking at in the garage?  They have an inspection period, not sure why they would hold things up.  Your agent really needs to reign them in and either get the offer ironed out and move on to inspection or continue showing.  
May 02
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we have gave a counter offfer to buyers 5 days ago they have came back once how long should we give

Answer
It should have been specified in the counter offer how long they had to respond. Your agent could reach out and ask if they are still interested. They may have decided to pass.
May 02
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203K Loan....good idea? Bad idea?

Answer
203K loan is an excellent idea and the best way to get everything you want and need in a home.  I would suggest you contact a lender and go through the process with them so you know exactly what you are getting in to and what the costs will be.  I am a Realtor in Wilmington and have done many many 203k loans.  My husband is a renovation specialist with Wells Fargo.  The only loan he does is the 203k.  Contact me through my profile and I will pass along his information.  If you need assistance in finding a home I would be more than happy to assist you and your family.  
December 24 2013
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what is average number of days for homes to be sold in canton ma

Answer
In the past 6 months, the average days on market was - Single Family Homes - 133 daysCondo Units - 76 daysMulti Unit Homes - 87 daysThese were for properties where the seller used the services of a Real Estate agent and the property was listed on MLS.
June 11 2013
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I am looking for a real estate agent to sale my home in Mattapan, Ma.

Answer
I would be more than happy to assist you if I can.  If you would like you can email me at the email address in my profile with your contact information and the property address and I can start researching what I would suggest as a purchase price and marketing strategy.  
June 10 2012
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Can you send (e-mail) a list of open house showings being offered in the northern suburbs of Boston?

Answer
I would suggest that you develop a relationship with an agent that handles that area and get on their listing list so you receive new listings as they hit the market.  It will also be very easy for the agent to set it up so you receive a list of open houses on Fridays for the upcoming weekend.  I would be more than happy to set this up for you if you would like to visit my site listed in my profile.  If you provide your price range and specifics of the type of property you are looking for we can really narrow down the list so you are only receiving properties that would suit your situation.  I hope to hear from you.
March 20 2012
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I would like to know if the house at 978 New Boston Road Fall River MA is available for purchase.

Answer
This property is not currently on the market.  It did sell in 2005 for $350,000.  It is a two family. 
March 16 2012
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Typically, how long does it take start to finish for a short sale?

Answer
You need to begin a conversation with your lender or lenders. Typically you can go to your lender's website and find the forms they require to begin the short sale process.  Download these forms complete them and send in via signature required mailing.  If they accept faxes even better.  Make sure you put your loan number on every every page of every form you complete.  Since you are living in the home your should also complete the Dodd Frank Certification to be considered for the HAFA program.  If you are accepted into the HAFA program the lender will set the price of your property.  You will need to hire a list agent to market the property, find one that is familiar with your particular lender.  If you want to share with me directly the lender on your property send me an email. I would be happy to give you some free advice and give a you a referral of a local agent.  Best of Luck,Eric
March 28 2011
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