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spdrun
ParticipantDid you actually sign anything allowing the seller to get the appraisal?
If not, let the seller pay for their own appraisal.
ParticipantAppraisal is done mainly for benefit of the lender to make sure that they’re not lending more money than the property is worth and staying within a reasonable loan-to-value parameter. Buyer can ask for a copy, but there’s no obligation to share it with seller, AFAIK.
ParticipantIf the appraisal is ordered by your bank, the appraisal is confidential between you and the mortgager, with the seller not being party to this. If so, who cares?
ParticipantHow about counterfeit money coated in a slow acting contact poison? Or a potent hallucinogenic drug?
ParticipantHipster! (Isn’t your native habitat North Park, not Temecula? You must feel like a fish out of water.)
ParticipantThey’ll do well till the next crash. Which will be an opportunity for everyone with a brain to vulch off their scraps till things are re-inflated again. And so goes the cycle…
ParticipantNone of the cities you mention has a climate that is conducive to being outdoors most of the year. Phoenix and Vegas actually have a dry heat and sunlight that accelerates skin aging.
Participant.
ParticipantDataAgent, any seller with half a brain can also ask for PoF and Pre Qual before accepting an offer. Not rocket science here.
If they’re paranoid about safety, they can keep bear spray or a pistol around.
ParticipantAt least around here, some charge a flat fee.
If you think about it, it’s the same with escrow agents — their fee doesn’t vary based on legwork. Or even brokers. If they close a deal for a certain price, their commission is what it is, regardless if it took ten hours or fifty.
ParticipantIf no one strikes me as competent for the job, I’ll just leave that post unvoted for (this practice likely benefits the incumbent but better the [semi-experienced] devil you know …. )
At least you could send a clear message of love by writing in Eric Frein or Ed Gein…
Participant3% down payment isn’t the major issue here, since down payment these days is more controlled by mortgage qualification standards (43% DTI, etc). Plus FNMA offered 3% down till 2013, if not later, so it’s just going back to last year’s standards.
Actually, stricter than last year, since they’re talking about only offering it to first-time home buyers, not investors (as they did through HomePath till recently).
Moneymaker- you’re probably a bit smarter than the average piece of human trash that was getting subprime loans in the mid-2000s.
ParticipantSo Mel the Marching Moron hath spake — the main interesting thing is that after loans stay good for three years, buybacks can only be triggered by a pattern of bad lending. So I suppose that lenders could make a small % of riskier loans and hope they end up under the radar.
Fortunately, things like overlays and QM were not addressed. Slightly looser, but incremental at worst.
Participant– some properties are only available for view via lockbox or showings with an agent… you’d cut yourself out of those properties. Open houses are not the entire market.
I’ve called selling agents and asked to view a property in the past. Sometimes, it didn’t go over well, but most of the time I was quite successful.
As far as working with an atty vs a broker — the buyer’s broker gets paid a commission based on the sale price. The HIGHER the sale price is, the more the buyer’s agent gets paid. Does that seem right to you?
The attorney can get a pre-negotiated fee for a closing.
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