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Boyd Rudy and Associates's Advice

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  • 12 Contributions
  • 1 Best Answers
  • 1 Helpful

Boyd Rudy and Associates wrote:

Homepath Property/Offer rejected

Answer
Absolutely submit another offer. I would make it either a higher offer or remove any conditions that might have had. I would also look at finding another realtor that is experienced in submitting offers on Homepath.
February 08
(0)

What happens if an appraisal is more than the financed amount but less than the selling price?

Answer
The lender will only lend on the the lower of the purchase price or the appraisal. Either the buyer will need to bring the extra 9K to the table (either lowing the % down or bringing additional funds,) the purchase price is reduced to the appraisal price of 90K, both parties agree to terms somewhere in between, or in most cases the buyer has the opportunity to walk away from the sale.  If you think this is going to be an issue upfront, I would suggest including something in the contract that the buyer to bring the additional funds to closing if the appraisal comes in under the purchase price. With the way the market has been, I have been suggesting my sellers counter all offers with a clause like when I think it might be an issue.
January 06
(0)

I have two houses in Detroit which are in very bad condition now. I want to fix them both. Any help?

Best Answer
I would find a contractor willing to partner with you for 50% ownership.
October 26 2013
(1)

What's up with real estate agents requiring a retainer fee and contract to help me find a $15K home?

Answer
Make sure fee is paid directly to the broker, not the agent. Here in MI all money has to flow through the broker. Most retainer fees are credited at closing, but read your contract.
October 26 2013
(0)

Is it ethically appropriate to work with more than one real estate agent at a time?

Answer
I agree with Edyta. A lot of times it can be very difficult to get a hold of the listing agent or company especially if it is a one man show. Talk to your agent and see what the problem is.
October 26 2013
(0)

Do Zillow recommend condos for sell?

Answer
You can filter.
October 26 2013
(0)

I want to purchase a new home, but I had a foreclosure, what do I do?

Response
I work with several local lenders that can help you. There have been some major changes to the amount of time needed to pass from a foreclosure to qualify for a new mortgage depending on the circumstances of the foreclosure. I also have a credit counselling company I work with as well as a couple of lenders that will help guide you to get you credit back on track. Click on my profile for my contact information and give me a call or email me and I would be happy to get you in touch with them!
October 25 2013
(0)

can i still get a home loan with bad credit?

Answer
I work with several local lenders that can help you. There have been some major changes to the amount of time needed to pass from a foreclosure to qualify for a new mortgage depending on the circumstances of the foreclosure. I also have a credit counselling company I work with as well as a couple of lenders that will help guide you to get you credit back on track. Click on my profile for my contact information and give me a call or email me and I would be happy to get you in touch with them!
October 25 2013
(0)

Is a default clause standard in a sellers agreement if the seller backs out?

Answer
I think every brokerage has the same clause with slightly different wording.
October 25 2013
(0)

Investment Property

Answer
 Click on my profile for my contact information and give me a call or email me and I would be happy to help.
October 25 2013
(0)