Hi, Chris ... talk to a local lender. I'm not aware of any loan programs that have that low of a down payment permitted. Lowest I'm aware of is FHA, which carries a 3.5 down payment assuming the townhouse you're purchasing is FHA certified.... more
Yes there are several new communities that have basement lots, or homes with basements but a crawl space is more common in this area. There's also some beautiful older homes with basements. People without basements usually have a garage for storage of tools, lawn equipment, etc. or attic space for decorations or things not used often. Hendersonville is a great place to live, work and play! Let me know if you need anymore information. I'm also happy to send you a welcome packet if your interested.... more
Right now, the average time on the Market is less than 60 days, probably closer to 30!
That means that the houses that are available now, will not be here in July, much less December.
If the DEAL is more important that what you buy, then you should wait until the perfect DEAL comes along.... more
Blo-My comment would be to keep in mind resale, either planned or forced...if you have these questions, might future potential Buyer's ask the very same question, and thus possibly reflect on your ease of sale and eventual selling price. Also is it unsightly? I not sure what other answers you'll get, but possibly do a Google type search with your question. I'm sure there is substantial work out there regarding this. Good Luck!... more
You can offer anything you are comfortable with. Every buyer needs a start point, therefore, they can counter and work with you on negotiating a price or they may not counter at all. Every seller's motivation can be different. Find an active local agent who can provide you sold comparables and advise their opinion on price.... more
Hi Woody, The lay out of a home could make a difference when size is considered. What are the ages of the children. What will the rooms be used for, such as entertaining, guests, play room, baby room, study, All of these things have to be considered.... more
WOW! It definitely sounds like some wires got crossed. The difficult thing about short sales, and a common reason why many people tend to stay away from them, is that once the seller agrees to the contract, you're NOT out of the woods. The bank must then approve the price. They may or may not. It is at their sole discretion. Every bank has a different procedure and some will take one offer at a time and some will take them all at once. And the time it takes is also at their sole discretion. It's very difficult at times to get straight answers, unless you are dealing with an agent who is experienced in short sale properties. No matter what though, the other buyers are not your problem and I would suggest you not worry about them. If their agent went out of town and dropped the ball, they are probably mad at their agent, not you. I hope you are working with your own agent and have a representative in your corner. That's extremely important in dealing with these types of difficult deals. Good Luck!... more
Athena, thanx for the fyi on the L/P. I will pass it on to one of my Clients.
I believe this is a Very, very good option for this particular economy and market. I feel this is going to be a Large part of our immediate future in R/E nationwide.
505 E. Main St
Hendersonville, TN 37075
C: (615) 479-3798
O: (615) 859-7150
F: (615)431-2514... more
The first thing you should do is to talk with lenders and get an idea of what you can afford and what you're comfortable spending.
Your lender can tell you what kinds of loans you qualify for; and if you can't qualify right now, then what you can do to improve your credit score, save for down payment, etc.
Knowing that, then you have a target to aim for in terms of property within your budget range.
If you don't have a lender, a realtor can provide names/contact numbers of lenders who can help you.
If you don't have a realtor, focus on the area(s) you like, and since you're on Trulia, look for agents serving the area, and whose blogs and answers to questions in your area show their level of knowledge and expertise.
But don't search for a property without knowing what you can afford. You may be setting yourself up for disappointment if you fall in love with a property but discover you can't afford it.
Bottom line: have a target, and then aim for it.
Your target: get preapproved, know what you can afford...and then start looking.
Good luck.... more
Thank you for your question. Most pre-approvals are good for 90 days. So, if you think it may be a year before you are ready to start viewing homes, you can look at them online and figure out what areas you want to narrow down. Also, consider if you currently have a home to sell, how much your home is worth now and compare that to a year from now projection. I would love to speak with you more about this, call me or email to discuss.... more
Usually if there is a reason for the denial, it will be the same with other companies, they all look at the same issues. Please speak to an agent in your area about a possible Lease Purchase, that way you will not necessarily need to wait 8 months to move into your new home!
Good Luck!... more
I am the CEO/Team Leader @ Keller Williams in Hendersonville. I would be happy to point you in the direction of a lease/lease purchase opportunity. What is the price range you are looking in?... more
What is your agent advising....you can have the property professionally inspected by a licensed inspector, ask the sellers, and you may wish to ask the sellers for a clue report--comprehensive loss underwriting exchange--it will list any insurance claims, or, to see if the property is located in a flood area, see link...
It is a GREAT time to buy right now!! I have attached a link with all the homes currently on the market in Hendersonville. You will see some short sales as well as foreclosures. You will also notice some of the homes are priced well even though they are not bank owned properties. When you get some time, check out these properties and see if there is anything you like. This search is everything built after 2004, a minimum of 2500 sq ft, 4BR and 2 BA.
Please let me know if you would like to change any of the criteria, and don't hesitate to call me if you have any questions!! I would be more than happy to assist you any way I can!!
That’s the great thing about Trulia Voices – we have tons of explanations here for the good of the community:
The easy to read explanation?
Confused about the tax credit? You are not alone! Search Truia Voices for "tax credit" and see all of the questions and answers from the pros. Also, Google "tax credit 2010"
Hoping to help you take advantage of the market – when you are ready.
(615)714-7918 | email@example.com... more
No lending institution will finance a home for more than its appraised value. If the home does not appraise at selling price,the buyer would need to come up with the difference in order to make the purchase.... more