Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
I understand totally. Everyone needs to make their own mistakes. Not many people buy more than one condo. I know perhaps a dozen people that own/owned a condo. Not a single one has anything good to...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Has this Realtor also shown you properties that are listed on MLS by other Realtors, or just showing you their own listings? There are some Realtors that hold listings and will not even list them on...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Thanks for your advice! I did some more digging and found the sale price :) It appears the wife purchased the condo by herself before getting married (and had a different last name). The title update...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Coot, in respect to getting the data from the HOA, there is a HOA Questionnaire I send them, which is indeed a lender requirement. The Form's questions do include the delinquency data as well as a...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
dealgate, we get that you are anti-condo and there is indeed plenty of data to support your premise.
However, in NJ and Long Island I can say that there are plenty of areas where Condos are...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
I'm looking to get a condo too. Just curious what rate were you able to get? I've just tried one place & got a quote of 4.375%. The lowest advertised rates are around 3.750-3.875% for a 30 year...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
My wife and I are looking to buy a condominium (our first home) in the next month. We have one in mind and have been preapproved for more than the purchase price. Before moving forward, we had a...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
http://loan.yahoo.com/m/primer14.html
http://consumerist.com/2010/06/10-things-to-know-before-buying-a-condo.html
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
It could be slightly lower; but be careful with fees. On lower sized loans a slightly higher fee can easily counter a lower rate.
-Adam
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
http://www.myfico.com/crediteducation/creditinquiries.aspx
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Agree with all of the above. Your bid price really does depend on the market. We just bought a house this last month right when the area had become a seller's market. If we had decided to purchase...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Regarding #1, shopping around for mortgage rates will only count once against your credit as long as the requests are completed with X number of days.
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Condos are the first to drop and last to recover during any real estate downturn like we are in now. Have we reached the bottom? I am sure you have your reasons for wanting to buy an apartment, but...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
You mentioned working with a chase rep....I've bought a couple of properties and refied about four times and every time i have gotten a much better rate with a mortgage broker. Was looking around to...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
In NY, previous sales of $1 are where someone, usually a spouse, is added or removed from the deed. NJ may be the same. Keep looking further back for the seller's original purchase price. If the...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
I'm looking to get a condo too. Just curious what rate were you able to get? I've just tried one place & got a quote of 4.375%. The lowest advertised rates are around 3.750-3.875% for a 30 year...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
This how I think about it. The only way you will "make" money is through appreciation. The amount you pay in rent vs home ownership will probably wash. But the appreciation will not be massive,...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Another good thing about working with the listing Realtor is that if you have indeed created a good relationship with them they most likely would alert you to other offers; especially if they were...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Tax assessment is meaningless for appraisal of market value. It has nothing to do with appraisals of what the home is worth. Most people today will buy a home then petition for a lower tax assessment...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
In respect to getting your own realtor, I would say absolutely. I don't know if it differs in NJ but generally from what I understand the listing realtor agent is legally obligated to get the seller...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Technically, we haven't signed anything with this Realtor, though I'd feel bad bringing someone new into picture since she showed us the place a few times and answered a ton of questions. We signed...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
coot66; it sounds like you have and are planning your strategy wisely.
In respect to the financing, yes, it is definitely good to compare, however, it is much more than rates you need to compare. ...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
As far as #2 goes, in today's world, most people aren't listing their properties at a price they will expect to get, as it is common for people to offer under the asking price. However, there are...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
There are rate adjustments for Condo, Loan Size
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Very good advice, but if falls on deaf ears with the brainwashed, television generation. The TV told them buying a house was a good thing so that's what they are going do to. You can't expect any of...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
General updates:
1) I asked for board meeting notes/minutes and was told they are not available for public review and are for owners only. :(
2) I also asked for the delinquency rate on the HOA...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
Unfortunately this doesn't matter. The listing agent could claim "procuring cause" and would be entitled to the full commission. You could have this same problem if you go to an open house and...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
1. If applicable to your area, I would take a look at Box Home Loans to get you started. One important thing to pay attention is not just the interest rate, but the actual closing costs. Some lenders...
Requesting Advice on Mortgages/Making an Offer
Expired
Thread created 04-30-2012 by coot66
0 Score
28 Replies
3,112 Views
While we all have that SlickDeal gene in our DNA here, zarfus does make a very valid point.
Every $5,000 financed equates to under $25/month in the mortgage payment; so if indeed you are searching...
