Lisa Piela Branch Owner/Manager/Loan Officer. F.T.H.B. “First Time Home Buyer”. How to be a Savvy Buyer in a Volatile Market. The Standard Four Questions:. What is the Value of the Home? What is the Condition of the Home? How Much Are You going to Investing?
“First Time Home Buyer”
How to be a Savvy Buyer in a Volatile Market
Always Get Pre-Qualified First to Know Your Buying Power and Ability!!!
Banks can not sell the home and Request the MIP (default insurance) to settle for % of balance owing and they are then responsible to sell the home.
Seller No Longer Occupies the Home and No Longer has any Interest/Ownership.
REO/Short Sale -
Bank Negotiates with Current Seller and New Buyer (3 Parties)
(Cash investment into the transaction)
(Earnest Money, Appraisal, Inspection and Warranty)
Closing Costs and Escrows
(Fees to get the Loan as well as Taxes and Insurances)
Pre – Paids
(Taxes, Insurances and Interest)