All Forum Posts by: Quandra Adams

@Jonathan Holmes, yes their bottom price was 85900 so I offered 90100 and for them to pay 4200 in closing costs. I am just trying to figure out how I still pay more than their bottom price. My loan amount (I just got the disclosure agreement with the cost breakdown) says the loan total is 88,467. Just not sure how they ran the numbers. Thanks for responding. 

I was going through my disclosure agreement for my closing costs breakdown and saw that my current lender is charging $995 for "Title Settlement Services". The document listed this charge as something I can shop around for. Who do you suggest? Trying to cut costs where I can. 

@Christopher Phillips, thank you for responding. Lingo aside, my question is how I still end up paying more than the 85,900. I was just reviewing the disclosure papers that breakdown my loan and the amount is 88,467. Just trying to see where the 2567 came from.

My offer on a 1,632 square foot duplex was accepted. I am considering adding central air but need to get quotes. I am NC. Where do I start looking for quotes and who should I talk to? Looking forward to your feedback.

My offer was accepted on a duplex but I am not understanding how my mortgage lender ended up with the loan amount. Here are the figures. If there is other info you need, please let me know.

- Sale price 

90,100 (The seller's bottom asking price is 85,900. They agreed to pay my closing costs by adding it to the price so I don't have to pay it our of pocket and they still get their bottom asking price)

- Due Diligence

200

- Earnest Money

200

- Home Warranty

500

I just got my loan estimate amount from my lender which is 88,467. I am just trying to figure out how I end up paying more than the seller's bottom line asking price if they are paying closing and the DD money goes towards the loan (or where ever if I close this property). Yes, this is my first property and first time home ownership and I do not understand how they calculate these things but what am I missing? What other info do you need to check these numbers. 

@Andrew S., yes the duplex has AC window units. If I go the HVAC route I will certainly try to use the 203K loan option as I am sure this won't be cheap and I do not want to pay out of pocket for that. Do you think that will add value to duplex enough to where I can increase rents? Right now, I priced the rents close to comparable (but lower) to other duplexes, houses and apartments with the same footage and amenities etc. but felt a little insecure about have AC units so I figured I couldn't price with the average comp. I l'd love to hear your feedback.   

Does the 203K streamline FHA loan cover paving driveways? I looked at various sources where this seem to be up in the air.

@Blair Poelman, I had my agent ask the seller if the baseboard heaters were connected to the thermostat and her response was, "Yes each room has it's own thermostat." Does this answer the question? Is there another way to word it so she gives me the answer I need to know. Otherwise, ill find out during inspection I guess. Now, it could also be a situation where a comma or semantics got in the way lol. For instance, saying "Yes, and each room ..." 

@Blair Poelman, how do I go about putting them on a thermostat? What type of person/who would I contact to get that going? Also, I'll ask the seller's agent if it's already connected. I hope it is though- figures crossed. When I saw the property I didn't know to ask about it.

My offer was just accepted on a duplex and being a first time home buyer AND house hacker, I'm equally excited and as nervous as a long-tailed cat in a room full of rocking chairs but I digress. Anyway, has anyone ever had a property or lived in a home that had baseboard heaters? What was your experience as far as maintenance. I know nothing about them but this duplex has them. Any info pro & con would be helpful!