Vanessa Calhoun

Hi Lacey! Every lender you speak with should provide you with a "Fee Worksheet". This sheet will detail your estimated loan charges, so that you will have an idea of how much money you will need to bring to closing as well as what your estimated monthly mortgage payment will be. Be sure to look at the "APR" as it provides insight into how much you're being charged for the loan. Remember, the larger the gap is between your interest rate and your APR, the more money you're being charged. Should you have any additional questions, please do not hesitate to contact me. Vanessa M Calhoun, B.S., Associate Broker REALTOR HomeSmart [email protected] 470-209-8136 (cell) 404-876-4901 (office)

Hi Phillip! First off, not all cash buyers are scammers. However, there are some things you should question. For instance, do they already have liquid funds or will they be using a hard money lender. Are they attempting to purchase "Subject to", which means they will receive ownership while you're still on the hook for your existing mortgage even after closing? Are they purchasing your home significantly below market value in hopes of selling it for an immediate profit? My suggestion for you is to contact a local, trusted Realtor to help you decide which option works best for you.

Hi Marie! One of the biggest misconceptions in our current market is that foreclosed properties are sold at tremendous discounts. Keep in mind, the idea is for the mortgage holder to recover as much money as possible on the failed asset. As such, they price properties according to the current market sales with pricing adjustments made according to certain factors that affect the market value. These factors include, size, condition, lot location/topography, etc. Now, there may be a slight discount, depending on what they're currently holding on their books (and other factors), but the "fire sales" of 2008-2012 are long gone. Should you have any questions, please do not hesitate to reach out. Vanessa M Calhoun, B.S., Associate Broker HomeSmart 470-209-8136 (cell) 404-876-4901 (office)

Hi Pam! I would strongly encourage you to gather all of the information, provided to you by the Seller, regarding the property condition and seek the assistance of a Real Estate Litigation attorney. Best of luck to you! Vanessa M Calhoun, B.S., Associate Broker HomeSmart 470-209-8136 (cell) 404-876-4901 (office)

Although I am not familiar with the Midwest real estate trends, the Spring/Summer are always optimal times to sell. Aside from the fact that the weater warms a bit, creating a more pleasant atmosphere, the days become longer (which provides more time for touring homes during the work week). Additionally, many people, with school-aged children, prefer to search and move during school breaks. However, it's always best to speak with a local Realtor who's more familiar with your current market dynamics.

Honestly, no one has a crystal ball to be able to foresee what interest rates will do. What I suggest is that you speak with a financial planner, a CPA, and a local Realtor to determine if selling now makes financial sense for you or if you should wait. Trying to time rates could negatively affect your bottom line.

If the listing agent is competent, they'll contact the lender to ask if your credit profile and income documents have been reviewed and verified. If the lender has not completed either of these tasks, it may be problematic for you guys successfully placing a contract on this home. Also, if you guys opt to obtain a full loan pre-approval, it strengthens your position with the Seller as you're now deemed to be a ready, willing, and able buyer. As long as your offer isn't contingent upon you guys maintaining a 740 middle credit score, then you should be fine if your scores drop a bit (as long as you're still able to purchase this property). I suggest you speak with a local Realtor who can help with lender recommendations and drafting an offer that would keep you protected with the appropriate financing contingency. Should you need any Realtor recommendations, please do not hesitate to contact me :) Vanessa M Calhoun, B.S., Associate Broker REALTOR HomeSmart 470-209-8136 (cell) 404-876-4901 (office [email protected] www.vanessasellsanotherone.com

Hi Wendy! Unfortunately, there is absolutely no way for anyone to determine how much your home is worth without obtaining additional information about your home. Your best option is to speak with a local Realtor or an appraiser, who's familiar with your market, to ascertain the estimated market value.

I would have the listing agent provide several recently sold comps, that fit within 25% of the size and age of the subject property, and write a synopsis to the appraiser detailing why the subject property is inferior or superior to that particular comparable property. I would also point out each and every update the property has undergone, including systems, that may add to the value perspective of the appraiser.

Quite possibly! Your first step should be to interview several REALTORS to determine which one works best for you. After having your consultation to learn more about the process, you should be ready to speak with a lender who will determine your ability to purchase and the purchase amount you qualify for. I would suggest obtaining a fee worksheet from the lender so that you will have an idea of what your estimated monthly payment will be and an estimate of how much cash you will need to bring to closing.