Scott Carlson

Here in MN, anytime someone lists their property they need to fill out a Sellers Disclosure Form, they can either fill out the disclosure statement form OR the disclosures alternatives form. If they fill out the disclosure statement form, they need to mark on it any damage that has happened to the property that they are aware of. even if it was fixed. Another good thing to have done when buying a home is to get an inspection through a trusted company and mention your concerns before they go out there to inspect the home. You can always re-negotiate after the inspection is done.

Here in MN "pending" means that the home is towards the last stage in the cycle of being sold, the buyer is either finishing up their financing, getting their cash, etc. And the title companies are setting up the closing date. I would suggest having your realtor reach out and chat with the listing agent to see when the closing is scheduled and if they would entertain a backup offer at this point.

The first step I would suggest is for you to speak with an experienced loan officer to get the process started.

Hi Jamie, VA loans are a great option in most cases with you not having to put down a lot of money to get the loan. Your credit scores will be looked at but if there is work needed on that front, an experienced loan officer can guide you on how best to increase your situation the fastest. They can also go through the pros and cons of VA vs Conventional loans, and there are times when going Conventional makes more sense, it all comes down to your specific situation. Best of luck on your search, Thank you to your family for their service.

Maggie, The first question you need to look into is if you can swing two mortgages if your current home still has a mortgage. The second question is, Do you want to be a landlord? It can be tough being a landlord at times, but is a great way to build wealth. Home prices go down for a short period of time but overall home values are continuing to increase in value if you look at the market overall.

Hi Bernard, typically you want to own your home for a minimum of 2 years so when you sell it your not taxed at a higher capital gains tax rate. There are times (not often) when it makes sense to sell it before the 2 years is up, depending on what your plan is with any equity from the home. I would speak with a local realtor to get an idea on how much equity and also your tax accountant.

Yes, you can. The first thing I would do is make sure your home is in the best condition you can make it so you can maximize showings=offers, Then you want multiple offers to bring the offer price above the listing price. If the buyer is asking for closing costs those are figured into the final price, so that would make any offer with it weaker. Lastly, you always negotiate to maximize your profit.

Hi Jen, The loan officer would be the one ordering the appraisal if your selling your home, if your just wondering about your homes value I would speak to a local realtor. As for how long it takes, they should be done in about an hour. Hope this helps.

The first thing you need to do is take a step back in your thinking. When you speak with the loan officer and they say "is this going to be your primary residence", what will you say? Also, for tax time when they ask if you have bought a home in the past year, what will you say? Your better off either buying it as a rental (will show possible income) or giving your parent money to help them buy a home.

Hi Tanner, That is a little early for their mail to be coming to your home with the closing being 6 weeks away. I would suggest you tell your listing agent about it. He/She should pass along that information to the buyers agent, there could be some important mail in there the buyers would want before 6 weeks goes by.

Hi Johnny, In MN , Yes you could make a 7 day closing work as long as your paying cash, have a title company that can do whats needed on their end. (Title search, commitment, scheduling, etc.) Good luck.