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Lisa Piela Branch Owner/Manager/Loan Officer

Lisa Piela Branch Owner/Manager/Loan Officer. F.T.H.B. “First Time Home Buyer”. How to be a Savvy Buyer in a Volatile Market. The Standard Four Questions:. What is the Value of the Home? What is the Condition of the Home? How Much Are You going to Investing?

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Lisa Piela Branch Owner/Manager/Loan Officer

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  1. Lisa Piela Branch Owner/Manager/Loan Officer

  2. F.T.H.B. “First Time Home Buyer” How to be a Savvy Buyer in a Volatile Market

  3. The Standard Four Questions: • What is the Value of the Home? • What is the Condition of the Home? • How Much Are You going to Investing? • What is the Re-Sale ability of the Home? Always Get Pre-Qualified First to Know Your Buying Power and Ability!!!

  4. What Does It All Mean? HUD – Banks can not sell the home and Request the MIP (default insurance) to settle for % of balance owing and they are then responsible to sell the home. Foreclosure - Seller No Longer Occupies the Home and No Longer has any Interest/Ownership. REO/Short Sale - Bank Negotiates with Current Seller and New Buyer (3 Parties)

  5. Costs Associated with Buying a Home Down Payment (Cash investment into the transaction) Pre-Paids (Earnest Money, Appraisal, Inspection and Warranty) Closing Costs and Escrows (Fees to get the Loan as well as Taxes and Insurances)

  6. Seller Paid Concessions Pre – Paids (Taxes, Insurances and Interest) Lender Fees Appraisal Fee Title Fees

  7. You Could Even Get Back What Your Pre-Paid Deposits! REFUND!

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