Tagged Questions

3
votes
1answer
19 views

What are some good things to look for in a property manager?

We have yet to sign a listing agreement with a real estate agent. I know that if I were to try to rent our old house, I probably wouldn't have the stomach for dealing with tenants …
2
votes
1answer
21 views

Selling a house: Better to lower the price or offer concessions?

We'll be trying to sell our current house now that we've closed on another. The Realtor that sold us our new house gave us a ballpark market valuation for our current house. He a …
1
vote
2answers
31 views

For how long is a real estate appraisal “good?”

During the process of getting our loan, the credit union required an appraisal of the property. The appraisal turned out fine (it was higher than the contract price) but my unders …
1
vote
1answer
16 views

What’s the Difference Between Settlement and Closing?

I've always heard the term "closing on a house." But this time around everybody's talking about the "settlement of the house." Is there a difference, or just a change of jargon?
2
votes
2answers
15 views

Why the Difference in 15-Year vs. 30-Year Loan Rates?

My DH is in the processing of wrestling out the details of our new mortgage/loan. Since he's up to his eyeballs in paperwork, can someone here explain why there's such a big diffe …
2
votes
2answers
14 views

What are Points on a Loan?

Forgot to add to my question on 15-Year vs. 30-year loans-- What are points exactly? Why do we have to buy them? Is buying them worth the extra outlay right now?
1
vote
2answers
31 views

What purpose does escrow serve?

I understand a little bit about what an escrow account is, mainly with regard to real estate, but I've seen it in other places as well. If I use one to pay my property taxes and i …
2
votes
3answers
34 views

Why Do Banks “Sit” on Foreclosed Properties?

For example, there was a foreclosure we were interested in. The day we were scheduled to see it, we found out the bank had removed it from the market. Okay, I can see taking it o …
1
vote
1answer
9 views

What is a Sales to List Price Ratio?

I was reading through a real estate appraiser's report and came across this line: ...it appears that marketing times are averaging three to six months with a sales to list …
2
votes
2answers
21 views

Which home price evaluation websites are accurate?

I was wondering if anybody knows of a good website that can give a reliable estimate on what a particular home is worth. I have used Zillow and Cyberhomes before and I am not rea …
1
vote
3answers
42 views

Is having a Walmart hundreds of feet from a property a good or bad idea?

We found out recently that the subdivision we were looking to buy in is going to have a large retail complex directly next to it. One of the anchors will be a Walmart Supercenter. …
1
vote
1answer
32 views

Is It Better to Sell Your Old Home, or Rent it Out?

We're debating this question as we look into moving into a bigger home. I know many knowledgeable sources say getting into rental properties is the key to wealth. However, I was …
1
vote
3answers
38 views

What is a good rule of thumb for lowballing a foreclosed property?

My wife and I are looking at a foreclosed property, and will likely be putting in an offer fairly soon. Since it's bank-owned I'm not going to offer their asking price. My questi …
1
vote
2answers
28 views

Is it bad form to match a pre-approval letter to the lowball offer I intend to make?

I went to get a pre-qualification letter today for a mortgage. (We're looking to put an offer on a foreclosure.) Thankfully, my maximum approved mortgage amount was very comforta …
1
vote
1answer
23 views

What is a “Contingency with a Kickout”?

We were looking at bidding on a house, and right before we put in our offer, the listing showed up as under contract with a kickout (on another site it said contingency with a kick …

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