Anyone have experience on whether Fannie Mae would accept an offer where the Buyer has a home sale contingency?I'm assuming not, but I figured I'd ask... thanks in advance!
What was the end of the question?
Connie, the most common easement is for a right of way -- to use a driveway or for utility companies, etc.However, there are easements that also prevent certain useage of land. One type is indeed an easement for a view (common in waterfront areas). That would prohibit Owner A from constructing any structures from limited the name-your-view of Owner B.Owner B is the owner of the easement, the dominant tenement and Owner A is the servient tenement.
My advice would be to contact a local Buyer's Agent. Often, you don't pay any fees for your buyer agent and they can help you with pricing, negotiating, referrals and the paperwork.
When reviewing the short sale, the lender (BOA in this case), will obtain either an appraisal or a "Broker Price Opinion" (BPO), either of which will take into account the amount of repairs needed to the property while evaluating the fair market value.Regardless of the market history, if the purchase price in the short sale is very substantially lower than the valuation in the appraisal/BPO, Bank of America is unlikely to accept the short sale.So my advise is to work with a buyer agent that takes the market history, real estate market and condition into account and come up with a good pricing strategy. Good luck!
I would ask a real estate agent that specializes in buyer agent. You should definitely work with a buyer agent. Interview a few and choose the one that is the best fit for your wants & needs. Good luck!
Chelsea, this was just asked a couple minutes ago: http://www.zillow.com/advice-thread/what-is-mortgage-insurance-Does-anyone-who-puts-down-less-than-20-have-to-pay-the-premium/379150/
Lara's answer was perfect. The only thing I will add is that at some point the market will come back up and if/when it does, when you feel like you have 20% equity -- if it is before your scheduled payments -- you can successfully get rid of the PMI if you can show you have 20% equity, usually by an appraisal.
Also, I just came across this service that will supposedly notify you when a property gets listed: http://notifymewhenlisted.com/
I think it would be a good idea to contact a local real estate agent that focuses on buyer agency. I think that would provide several purposes:(a) The owner of the property might not be as off-put (or nervous) if they are contacted by a real estate professional than a "random" stranger(b) If they're contacted by a buyer's agent that is calling/dropping by on behalf of a buyer, they won't have a negative reaction that the agent's real motive is to get a listing(c) If you are interested in the property, your buyer agent can put the transaction together.Good luck!