closing costs: I wear a different hat.... - 07/26/11 05:50 AM
I had something interesting happen recently.  Have some borrowers prequalified on a new purchase.  I received a phone call from their Real Estate Agent stating they were going to write up an offer on a property later that evening.  He needed from me a preapproval/prequal letter.   He asked me to reference the purchase price and the fact that they would be putting ten percent down in the letter.  Pretty standard stuff...no problemo.
But then he asked me to include some additional information.  He stated they were going to ask the seller to contribute to closing costs.  Again, pretty standard stuff in … (3 comments)

closing costs: Can the seller make repairs to the house before closing? - 04/21/11 06:19 AM
Can the seller make repairs to the house before closing?
With the amount of foreclosed properties out there, it's not unusual to see many homes in need of some cosmetic repair.  The previous owner may have left the home they vacated in a less than desirable or "move in ready" condition.  I've seen homes where appliances were removed, carpets were left in filthy condition and even graffiti on the walls.
When a borrower is considering purchasing a property such as mentioned above, it's often requested that the seller make repairs, or perhaps the buyer requests a "carpet allowance".  While all that … (2 comments)

 
Karen Burket, Valley Mortgage Grou, Conventional, FHA, VA, mortgages (Bank of Oregon a division of Willamette Valley Bank )

Karen Burket

Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Medford, OR

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Bank of Oregon a division of Willamette Valley Bank

Address: Medford, Central Point, Eagle Point, White City, Rogue River, Grants Pass, Klamath Falls, Jacksonville,, Medford, OR, 97504

Office: (541) 842-5605

Mobile: (541) 890-3262

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You can find great local Medford, OR real estate information on Localism.com Karen Burket-Bank of Oregon Home Loans Conventional, FHA, VA, mortgages is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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