All 7 of the previous comments are good advice. Please contact an attorney to give you some assistance. I've been in real estate for over 40 years, and giving possession at closing on an occupied house is always very tricky. If it's written in the purchase agreement that the seller has to pay the buyer a per diem rent for X number of days AFTER closing as long as they can stay in the house for those number of days, at least it will prevent the inconveniences you are suffering. Hopefully things will work themselves out in the next few days to a week. It is not that unusual this time of the year for lenders to get bogged down with documentation. Best wishes and good luck.... more
I would submit an offer anyhow - what is there to lose but time? Put a "48 hour contingency clause" in the offer and maybe they will go for that. What this clause means is that if they find another party who does not have the same contingency (to sell a home), they give you 48 hours to remove your contingency or they will sell to the second party. Once you have secured a buyer, you can remove the contingency to sell and the 48 hour one is automatically removed.... more
I am not a lawyer and this is not legal advice, but it's not mortgage fraud unless it closes. If it's now properly disclosed as an investment property then no crime has been committed.
What you have is a case of an unethical loan officer that will do anything to get your business. You probably had offers from others that properly quoted it as an investment property but you went with the lowest. This is textbook bait and switch and a prime example of why the unethical still exist in our industry. They hook you with the notion that you will be able to save a few bucks then change it up when they think it's too late for you to switch. Closing with this lender will reward this behavior.
I don't lend in IN so it's not a pitch for your business, but I would definitely investigate other opportunities with more scrupulous lenders in your area.
Just my opinion.... more
Hi Debra:
I would be happy to help you find a home that fits your criteria. It looks as though, based off the zip code, are you looking for a property in the Decatur /Wayne Township area? I did some research and found several properties in this area, 15 to be exact, when I set a search of $30,000 or less. Keep in mind, I ran this search without any additional information as to what you are looking for in a home or how much you would like to spend. Of these 15 properties, they ranged from $10,000 up to $29,900.
I encourage you to speak with numerous agents and find one that you "get a good feel" with as I say. The chemistry between the buyer and realtor is important in making the homebuying process not only run smoothly but enjoyable. Buying a home is a big decision and you want to make sure you feel you have the right agent.
If you are currently interviewing agents, I would love the opportunity to meet with you. Please feel free to contact me directly at 317-590-3434.
Thanks.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
317-585-7748 office
317-845-7726 fax... more
Good Afternoon:
If you are just browsing the best avenue is to contact the listing agent directly. You may want to keep an eye out for advertised open houses. You may just find that a property you've wanted to view is open to all interested parties to view.
As an agent, I work with numerous buyers that are still trying to determine what they want in a home and may still be 3-6 months out from being able to purchase. It does help to view some homes and get a feel for whats out there and better determine what you are looking for. As Laura has stated, I would encourage you to interview agents and find one you feel most comfortable with. We are full of knowledge and can provide you answers to any questions you may have.
Good luck to you on your new home search! I hope my answer was helpful.
Thanks.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
317-585-7748 office... more
All lenders and/or mortgage brokers have different requirements for credit score. Many now require a 620-640 or higher. I know of a lender that will take 585 or higher. If your credit score is currently less than these figures, many lenders have a system that will analyize your credit report to determine if there's a possibility to address certain items: IE: paying down a credit card or paying off some small items on your report; in hopes of increasing your credit score to where it would need to be to obtain financing. Your credit score is just one of the items the lender will look at. Your best option is to contact a lender and begin the pre-approval process. This is quick and will let you know where you stand.
I hope my response was helpful.
Thanks.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
317-585-7748 office
317-845-7726 fax... more
This is a great question Marty. The number of new properties being built over the past year has picked up tremendously. Every transaction is different and every builder is different. Most builders will offer you X amount towards free upgrades and at times, depending on how business is going, you may be able to negotiate a lower price on the home. In my experience, the most success I've found with builders was on the purchase of spec homes. The builder will build several homes in each community under the speculation a buyer may not have the 4-5 month timeline to wait to build the home, hence the term "spec home". You'll see some builders offering a large discount off these spec homes, especially if the home has been completed and still is without a signed contract. If you are mainly looking for a new home and aren't concerned with the customization part, this may be a great option for you. In addition to spec homes, builders at some point must list their model homes. The beautiful thing with model homes are all the bells and whistles the builder puts into these homes. They are known to upgrade extensively in these models to allow the potential buyers to really have that "wow" factor when viewing. Builders tend to discount these model homes tremendously, offering that potential buyer not only a great value but a beautiful home that's more than likely has been decorated by a professional stager and/or decorator.
When you do choose to begin the process of looking for the perfect neighborhood/builder to build your new home, I would look into hiring a real estate agent to represent you. Real estate agents account for a large number of sales for the builders and many agents deal solely in "new build" as we call it. These agents have developed a relationship with area builders and are familar with what to expect as far as buyer concessions, typical amount of price reduction to negotiate towards and neighborhoods that may offer you more value for your money. Keep in mind, working with a realtor to purchase your home is free to you. The seller (in this case the builder) assumes the cost of the buyers agent.
We receive emails on a weekly basis from builders, updating us on their newest promotions and available spec homes. If you'd like, I would be happy to take down information regarding what you are looking for and email you with those incentives and/or available spec homes as that information is made available to me.
I hope my response was helpful and I look forward to hearing back from you.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-509-3434 direct
317-585-7748 office
317-845-7726 fax... more
Hello Again. I believe I may have just responded to another question of yours a few moments ago. The local MLS (multiple listing service) is where real estate agents post our listings. We have a way to search areas, price points and other requirements you are looking for in a home, as well as search solely for distressed properties (IE: short sale, foreclosed, bankowned, HUD, VA-owned) within our MLS and email you those listings that fit your search requirements. If you'd like assistance in locating foreclosures, I would be happy to set this search up for you. One of the most important things in finding a distressed home is timing. By setting up these searches, we are able to email you listings within the search criteria, as soon as they hit the market. I would love the opportunity to assist you in locating a foreclosed home.
Thanks.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
317-585-7748 office
317-845-7726 fax... more
According to RealtyTrac (I am a member) not in forclosure at this time.
Let me know if I can assist further.
Dwayne Kendall
REMAX Ability Plus
CDPE, CIAS
317-607-9552
Good Afternoon. As Scott stated below, due to the last posted change of possession date (6/21/2001) it's unlikely this was a bankowned or foreclosure. Our system does not indicate if a property was sold at the sheriff sale auction, however it does provide us all property history (IE: when homes were listed, sold, etc) as far back as 1999. This property was built in 1997, which makes it unlikely this was the case. I hope helps answer your question. Thanks.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
317-585-7748 office
317-845-7726 fax... more
Good Afternoon Lashonda. If you have an address for this property, I would be able to pull this up on our local Multiple Listing Service to see if this home is currently available for sale, if so, for how much. If this property was recently purchased, that information would be available as well. if neither of this options establish the current status of this property, you could look into obtaining a marion county auction list for the up and coming auction (6/20/2012) to establish if this home is set to go at auction. I look forward to hearing back from you.
Thanks.
Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
317-585-7748 office
317-845-7726 fax... more
Many counties today have these records on the web. You can put in the address or go to a map and locate it there to get the Section, Block and Lot numbers.
Generally speaking no reserves are required. Please let me know if you need some help. We offer the 203k loan. David Mennen - Tippecanoe Mortgage. Call or text 765-714-8894.
Rob:
Thanks for the inquiry. If you want 3 full baths in that specific zip code, you only have one option available that is listed on MIBOR. 2129 N. Park, 3 bedrooms, 3 full baths. $1595 per month. 1557 N College has 3 bedrooms, but only 2.5 baths. It's listed at $1750 per month.
Here's a link to the current list that fits the criteria $1200-$2500 per month, 3 full baths, not set to that zip code but staying in the downtown NE quadrant: http://bit.ly/IHjzHI
If you can go down to 2 full baths and open up the search a little, that provides several other choices. http://bit.ly/IwYDkR
Good luck in your search!
Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501
joe@joeshoe.com
http://www.facebook.com/joeshoe
http://twitter.com/#!/jojosmojo
http://www.macduffrealty.com... more