Which home would you choose? How much would the price have to drop on the fire damage one before you would choose that home?
There are two current schools of thought on this. The original theory was, as you said, you price the home a bit high to allow negotiation. However, in this market, the most interest in a listing is generated in the first couple weeks after it is first listed. If your home is initially priced too high, some potential buyers will never get a chance to see your home. In some areas, competitivly priced homes are frequently selling above the listing price. Talk to your agent to find out more about your area. Hope this helps.
The seller can lower the price for a number of reasons. Usually this just means that the home was overpriced for the market, and the seller realized this, or they just need to sell quickly and are not getting enough showings. In some cases the price will be lowered as a result of a offer on the home, an unfavorable inspection, and the buyer walking, but this is not that common. With the home only having been on the market 3-4 weeks, this is unlikely. If you like the home, ask the listing agent why the price was lowered, and if it sounds reasonable make an offer subject to inspection. Hope this helps.
If you go to the info page for the home, 3/4 of the way down the page there is an option to claim your home. Once you claim the home you can go to the same section of the home info page and edit home facts. Hope this helps.
I would agree with William. It sounds like this is a short sale with two banks. Usually the first lien holder will offer the second only $1,000-$5,000 to essentially forgive their portion of the debt. The idea is that if the home goes is foreclosed, the second lien holder normally gets nothing. Usually getting the second to agree to this take a long time though, and sometimes they refuse outright. Your agent should be able to find out how much is owed to the first and to the second. It usually does not take a huge amount more to get the second to agree. If you offer to pay the second a couple thousand directly at closing you might be able to still get it to go through. I know this can be very frustrating. Hope this helps.
If you are buying a rental property, yes, you need 20 - 25% down. For a primary residence you can go down to 3.5% down depending on the program. However, in most cases this requires a slightly higher interest rate, and you have to pay private mortgage insurance (an additional monthly payment or prepaid amount that is paid at closing). Ask your lender for a quote with 20 percent down and another one with only 3.5% down. There will be a big difference in the monthly payments or in the closing costs.
Per the previous conversations, you would qualify for the first time homebuyer credit based on the facts given. However, there are income restrictions. I would visit the IRS website to make sure you qualify.
Homes in that price range are selling quickly and often for above the asking price. You may just be outbid. Talk to your agent and see if you can get more information on what is going on.
When I changed the details on a house it took over a month for the zestimate to reflect that. I would recommend just adding something in the description stating that " the zestimate was based on only xxx sq ft but the homes has over xxxx. " Hope this helps.
The listing agent can remove the zestimate for you. Do you have an agent you are working with? If you do not want to work with an agent, you can also claim the home and make your own owners estimate and publish it so people will be able to see what properties you think are comparable. Hope this helps.