All Forum Posts by: Lynne Smith

@Jelani Fearon are you first time home buyers? If so you can go up to 97% ltv on a conventional. Fha has higher upfront fees..I'd go conventional if you meet the requirements:

The mortgage is a fixed rate loan.

The property is one-unit single family home, co-op, PUD, or condo.

At least one buyer has not owned a home in the last three years.

The property will be the owner’s primary residence.

The loan amount is at or below $484,350

Sorry didn't see your reply before. I figured a warranty deed offers better assurance than a simple quit claim deed, so if I had a warranty deed I would just feel more secure. Combined with having done my own research, that seemed fine. But they definitely wanted me to get a title company, so I did. 

@Terry Dunlap a mentor once said "with my first step I'm a buyer, with my second step I'm a seller". Even if it doesn't appreciate, can you at least sell it later on? I don't like to see high DOMs across the board. Makes me too nervous that I can't exit when I want to

@Carlos Borgert I.know this doesn't really answer your question but I thought i would let you know I'm currently under contract for a property I purchased through an online auction using Hudson & Marshall and they have been excellent! I will make a YouTube video sharing the whole experience once I have the deed recorded! 😍 so if you're looking for other options I highly recommend HM for future properties

@Rahul Gupta I can only tell you my own experience but I'm currently in the process of buying a home through a different auction website (Hudson and Marshall) and yes they waited out the redemption period (which is 30 days in my state) and only after that, they listed the house for sale. So far i am having an excellent experience with HM I highly recommend them. Will make a YouTube video about it once it's all settled and done.

@Liliana Lopez I have a hard time believing this guy didn't know what was going on. Mail would continue to go to his home. Foreclosures don't happen overnight. I would go straight to an attorney. Don't try to handle this yourself.

@Eliana Cabrera I'm in South jersey Burlington County if you find a meetup I'll come too! Just about to get my first property.

Hi all. Question is this - terms of the sale were for a quit claim deed. I asked if the seller (chase) would be willing to provide a warranty deed instead..they replied "can provide a special warranty deed as long as you purchase title insurance at your cost". Here's my question- do I HAVE to purchase title insurance to get a special warranty deed? I wasn't going to purchase any title insurance - I've already done my own research and feel comfortable without it..I'm paying cash, so no lender policy needed. Can I just get in touch with a title company and ask them to prepare a deed only?

@David Acosta wow! I didn't know that..good tip. I just won an auction today which is my first investment property so I'm definitely going to look for a meetup and link up with similar minds!

@Curt Smith thanks for sharing I'm currently bidding on a property. Probably won't be getting it. I put in an offer of 86k and it says "you're the highest bidder". About 2 minutes later it says I've been outbid. I bid in 1k increments and after we hit 100k it requires 2k increments. Now it's up to 126k and has consistently said I'm not the highest bidder. Can't tell if someone else has a proxy bid or if the seller themselves is the bidder. It doesn't say the seller bid against me... Wasn't sure if that is disclosed in every state or not. I really wanted this one but can't access the inside as its tenant occupied. I can tell it needs a new roof. Add the buyers premium . After all that and without knowing what the interior looks like, have to probably stop bidding. But it's tempting.