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Tricia Ziehler's Advice

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  • 11 Contributions
  • 1 Best Answers
  • 2 Helpful

Tricia Ziehler wrote:

What are some of the things to look for when buying a Condo?

Answer
All condo associations have a one page Q & A form, start there. Your Realtor should get this for you along with the condo docs - Read them! Most important, check any current or future special assessments. Good Luck!
November 04 2013
(0)

can we get fha loan with under 620 credit score

Answer
You can get an FHA mortgage with 10% down payment. This does not have to come solely from you. Family members or the Seller may help with the down payment, but you must contribute at least 3.5%. You may also borrow money from your retirement account. Good Luck!
November 04 2013
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what happens if a mortgage is charged off?

Answer
Creditors will rate your payment history using letters and numbers. Letters do not change, M= Mortgage, R= Revolving Credit, I= Institution Loans. Numbers are what you are concerned with 1 is best and 9 is a charge off.  M9 = a mortgage charge off. Typically a charge off occurs once you are 180 days late. After 3 months of the modification re-check your credit history.  The past late payments will not go away for 7 years, but the new, on-time payments should post. Good Luck
November 04 2013
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How do you research a property elevation certificate?

Best Answer
Elevation certificates are normally done at the time of the survey at an additional cost. FEMA Flood Maps have recently changed, but if you are only considering the property and don't want to spend money just yet, go to your local county's property appraiser's office. They have quite a bit of free information. 
November 01 2013
(1)

Is email sufficient to legally terminate a buyer exclusivity agreement?

Answer
No, an email is not sufficient. Always ask an attorney BEFORE there is a problem. Your Buyer Representation Form is legally binding. Get the cancellation in writing prior to making an offer on a property. 
November 01 2013
(1)

Is it better to have your home built? I live in Florida and want a nice home on an acre

Answer
When you have a home built, it is to your specifications. Like buying a new car, you will pay more to have exactly what you want. Take into account the time it takes to build, if you are not in a hurry, it is wonderful to own brand new - never lived in. Check on financing, not everyone qualifies for new construction finance. Melbourne is one of the best kept secrets in Florida.
November 01 2013
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Is it posssible to buy a home with bad credit my score is 607 ?

Answer
Yes, You can use an FHA mortgage with 10% down. Seller's may contribute to part of your down payment and you may receive 100% of the down payment as a gift from a family member. Additionally, you may borrow from your retirement plan. As previously posted, find a loan officer to help you raise your credit score by 13 points and you will only need 3.5% down payment. 
November 01 2013
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Buying A Short Sale Property

Response
Clair is correct. You should look for an agent with a designation such as CDPE  -- Certified Distressed Property Expert. As a Buyer's Agent on a short sale I ask the Listing Agent if I may handle the negotiations on behalf of the Seller and use my Title Agent as the negotiator. This way the listing agent still feels in control and someone that works full time in negotiations is handling the process.  Here is a great article and call me anytime for advise  www.shortsalehelp.com   
August 06 2009
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Where in the world did you get that price from? It's not even close...

Answer
Zillow is only a computer generated source of information. Comparable homes within a certain radius are used. County tax record information is also used. To find the most accurate value of your home you can either hire an appraiser or call your local Realtor for a complimentary market analysis.
July 24 2009
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10 Tips On Buying A Short Sale // Buying A Short Sale Timeline

Response
Thank you, excellent information with one exception. Line 5--You Should hang your hat. Both Buyer and Seller should sign the contract and be prepared to wait 3+ months.
July 24 2009
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