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Sutton & Wells Team

Premier AgentTeam

33 Recent Sales (last 12 months)

Real Estate Agent, Lic in Massachusetts and NH, Real Estate Agent (18 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Foreclosure

Advice

  • (5 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

Contributions are sorted newest to oldest.

Real Estate Myth: A Cash Offer Trumps All

Response

Appraisals are not required in a cash transaction.  If a buyer is coming in with a financing for the purchase an appraisal will be required by the mortgage company.  When buying a foreclosure that may not fit FHA standards a cash transaction may be necessary.

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How much below asking price can an offer be on a home?

Answer

You can offer any price you want.  What you don't want to do is upset the seller to the point where they will not go into negotiations with you.  Remember the seller has worked long and hard for their property.  Your buyer agent will search for comparable valued homes in order for you make a wise decision on the value of the property in question.

  (0)
How much below asking price can an offer be on a home?

Answer

You can offer any price you want.  What you don't want to do is upset the seller to the point where they will not go into negotiations with you.  Remember the seller has worked long and hard for their property.  Your buyer agent will search for comparable valued homes in order for you make a wise decision on the value of the property in question.

  (0)
FHA Loan vs FHA 203k Streamline Rates

Answer

A full FHA loan will allow you to borrow a greater amount for the construction needs on the home.  You will also need to break down line by line how the dollars will be spent and then have that line item checked off by a FHA inspector.  One of my buyers obtained a large construction FHA loan to rehab a home on a lake.  The project was to take 6 months but extensions are granted. Streamline loans are at a set amount in the area of around 30000 dollars.  

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how do I find out what my house is worth?

Answer

In order to find out how much your home is worth call an agent you trust and ask them to visit your home.  Better agents will take the time to first visit your home...then return to their office to conduct a market analysis of other homes recently sold and presently on the market.  The agent will the return with the list of homes similar to yours and the prices they have sold for ....a good agent will allow YOU to make the decision of the asking price after comparing the properties to your home

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I'm buying a house under a FHA loan I have been approved but a condition was for a second appraisal

Answer

Many times a commitment letter from the bank will have a physical problem the appraiser has identified needed within the home for safety and or function.  An example of this -- a missing handrail needs to be installed.  The appraiser returns to the property to confirm the intallation of the handrail and the condition is removed ...allowing the loan to go forward.  

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