All Forum Posts by: Sarah Jones

1. i am trying to buy a house and was wondering do i have to pay the buyer agent or does the buyer agent take money from the bank (this is a short sale)

2. does the seller agent get paid from the bank?

3. the listing price of the short sale was $175 it says pending lender approval .. what does pending lender approval mean? Do you think i should offer $165 cash? 10k less than the pending price.. they told me that even if i offer 175 i still have to wait 20 days for their decision, its a short sale i dont understand why i have to wait 20 days..

4. if i was doing an all cash purchase of $175 and i have no loan how much do u think i actually pay when everything is all done with...(title, insurance, etc... tax.. how much do i really need in cash if i want to make a $175k payment)

5. if i dont get a buyer agent what am i saving..?

6. this house was partially burnt in the front it doesnt show up on title 'YET' thats what my buyer agent says but it will probably show up on the prelimiary .. but the insurance comapny fixed everything.. should i be concerned about something? if i try to sell the house is it going to be a problem if the house was already fixed?

I'm not sure how the market goes and how to make an offer, but there is a house that is listed for $190k but when the last person made the $190 offer the bank did not accept it and they coutner offered and it closed at $210k. But it fell out of escrow becasue of title problem with the easement. I don't want to offer that much maybe like 180,000. I'm hoping to get a deal on it but I don't want to lose the house either. If my offer is too low will the bank ask me to make a higher offer or will I lose the house. Also, if i'm not the first to make an offer on the house will I automatically lose out? How does it work I guess is my general question!! Thanks for all or any information you can offer. This is a foreclosure. The seller-agent says that the bank may or may not be desperate becuase of the title problem it fell out of escrow last time. and as far as she knows there is no cash offer at this moment there are offer but not cash so how much should i offer should i offer $180? she says there is a 90% chance that they may not counter but maybe she is just doing her job selling to me to get the price high.. what should i offer to get the best deal and how does it work..

1. What EMD would you recommend giving to make htis offer strong?
2. they have received other offer but not cash, and the seller agent says sometimes they dont will not counter and will just accept someone else offer because she says there were otehr offer but not cash. this property is pretty hot becuase it was listed for 2 weeks before and went to escrow and fell through should i really offer 150? and waht would be the emd?
3. hwo do i protect myself it it doesnt go through to get the emd back..

ok the neighbor says its on title they can park in one row of the parking lot ... how do i check eveyrthing on title what is his and what is mines.. if i buy title insurance will it tell me everything i need to know about the house? i am not buying the house yet, should i buy title insurance just for them to do a thorough research of what is on title, what belongs to me and what doesnt?

how much does it cost to get the prelminary title report usually?

1. if i buy title insurance they cover my property and everything i own i dont understand why title insurance is not the answer they are suppose to search all title and everything i own to make sure i own everything and if someoen else park in my space i would be able to get them out is that correct ? if you can try to give me a little more detail i would really appreciate it.

2. i see some EMD asking for $1k , this emd is asking for 19k , when do they take this 19k from my account if i offer 19k as emd when do they take it from my account?

3. if i am missing 30k and i am putting 150 on the house, who do i ask to loan me the 30k should i ask the bank that i am buying the house from? Who would realistically give me a loan.. the house i bought from is REO my credit is 600.. so would the bank give me a loan?

4. As stated before, EVERYTHING. Especially the neighbor rights issue. That could be a huge negative factor for your purchase. If your driveway has some legal easment allowing the neighbor to park there, that may not be a property you want to buy. --> how come i dont want to buy it? the property is extremely big and it is very low price.... the parking lot is large as well if i am willing to allow the neighbor to park there do u see any other reason why i shouldnt buy this property

5. ok so the house went to escrow last time for 210 , its listing was 190 and they said no and it went up to 210 and it went to escrow but did not close becuase of neighbor issue. i was thinking of offering 170 with 4k EMD (i read somewhere it should be less than 2%) ... does this sound good? Do you think they will reject the offer? will they always give a counter offer.. i want to start low becuase they may counter with something higher...

6. after i sign the contract with the EMD, and show them proof of funds , i already got the house inspected what is the next step?

7. what are other fees that they can charge there is no closing fee buecase i dont have an agent are their any other fees i should know about? if i spend $200 (assume $200k in all cash purchase if i find money from family to borrow) to buy the house how much am i really going to spend once its all said and done...

thanks for all ur help

I am trying to buy a house the house was listed at 190 and it went to escrow at 210k, it fell out of escrow becasue of some title problem the neighbor said they can park their cars in the park space and it was on the title. i

1. what exactly should i do to protect the house , the seller agent says that i own the land but the neighbor has the right to park there and they said its on title thats why it fell out of escrow. but maybe there could be more issues they are not telling me.. could i just buy title insurnace and all of this will be fixed?

1B. what should i watch out for?

2. the house was listed at 190 and went to escrow at 210, what should i offer to get this house... it fell out of escrow should i offer 170 and they will counter with something more? what should i offer?

3. it is a foreclosed property, i want to do an all cash purchase but the seller agent is asking for 19k in down payment, if i am doing an all cash purchase why do i need to pay 19k in down payment?

4. if i offer 190 but i only have 150, do you think they would be willing to give me a loan for the other 40 it isnt that much but my credit isnt that high its at 600.

5. what exactly is the process if i am doing an all cash purcahse? i sign a contract, with or without a downpayment and than what.. waht is next?

6. if i have the money say in a matress should i put it in a savings account what is the difference between putting the money in a saving account and a checking account does it matter?

7. this is my first purchase is there anything else i should watch out for?