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fha financing: Components of a real estate offer: what a first-time home buyer needs to know - 02/25/10 08:39 AM
Components of a real estate offer: what a first-time home buyer needs to know
Our first-time home buyer has been pre-qualified with a Lender and has been shopping online and in person with his/her Realtor.

Now you’ve found the perfect house and are ready to make an offer.
The first thing your Realtor will do is prepare a CMA (Comparative Market Analysis) to show comparable properties in the neighborhood and what they have sold for. We study what has been sold in the past six months and use this data to determine a fair market value price. What you decide … (11 comments)

fha financing: FHA Considering “Tightening the Belt” – do not make it harder for buyers to borrow! - 12/08/09 02:58 PM
FHA Considering “Tightening the Belt” – do not make it harder for buyers to borrow!
The FHA reserves are below the required minimum, and here are some of the Housing and Urban Development (HUD) Secretary Shaun Donovan’s recommendation to correct that issue:
Raise the required minimum down payment from 3.5% to 5% Lower the maximum seller contribution from 6% to 3% Establish a required minimum credit score Eliminate the ability to finance the Up Front Mortgage Insurance Premium (UFMIP) into the loan Raise the cost of FHA mortgage insurance (higher premiums) According to Vicki Cox Golder, President of the National Association … (6 comments)

fha financing: No FHA or VA financing? SERIOUSLY? - 11/21/09 08:31 AM
No FHA or VA financing? Recently I’ve seen several property listings state in the Broker’s remarks (area that the public can’t see) that the Sellers will not accept offers with FHA or VA financing. Do these Sellers realize that they’re possibly ruling out 95% of the market by not accepting that type of financing?
I’m shopping in a range for first-time home buyers who will typically have FHA or VA financing. I’ve explained to my Buyers that if they choose an “as-is” property, they will be responsible for whatever repairs may be required by the type of financing they choose. … (10 comments)

fha financing: Selling Your Home in Tulsa, Oklahoma - Negotiating the Contract: offers and counter-offers - 08/22/09 07:59 AM
Selling Your Home in Tulsa, Oklahoma - Negotiating the Contract: offers and counter-offers - You’ve chosen your Listing Realtor, agreed on a list price and have prepared your home for sale. You’ve received feedback and have finally received your first offer – maybe more.
There are several elements to consider in an offer, so please don’t focus solely on the purchase price offered.
How many Seller “concessions” did the Buyer ask for? Are they asking for closing costs? Are they asking for a residential service agreement or any special type of survey? Your Realtor will prepare a Net-to-Seller with each offer, … (3 comments)

 
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Lori Cain - Midtown Tulsa Real Estate www.tulsahomeforsale.net 918-852-5036

Tulsa, OK

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Chinowth & Cohen Realtors

Address: 1441 E. 41st Street, Tulsa, OK, 74105

Office Phone: (918) 392-9900

Cell Phone: (918) 852-5036

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