need mortgage home buying tips and advice

[whacked1]

I spoke to a real estate agent to help sell the condo apartment I am living at and then purchase of the new home. He told me he will have to get a photographer  to come with him and told me the earliest he can get a photographer is next Monday.  He told me he will in the meantime email me listing of the homes in the area I am looking to purchase. My condo apartment where I live with my wife and child  is full of lots of things so I wonder how the photographing will work?  When you have a family and a child you have so many things so the pictures they are taking to use in the listing may not look nice to potential buyers right? Do you guys think I can have my condo apartment sold to buyers without clearing things out and empty?  Also I have to sell this first to be able to afford the new home. And the Preapproval expires in 90 days from 2 days ago. Will I be able to sell this and purchase new home within 3 months? Things like very challenging and tough!

Pictures are very important. It should give a neat feeling. Dresser should be cleared, beds made, nothing on counters, living quarters organized etc etc... Generally your condo would be vacant on closing. You can have a lease back, but that complicates things, but not uncommon (you can also have a flexible closing date etc). You should speak to a real estate lawyer (whomever you intend on using) on how they would set it up.

[ckmk47]

But you can have  your furniture.
Just make everything look neat and airy. (as much as possible)

[gozalim]

But you can have  your furniture.
Just make everything look neat and airy. (as much as possible)

is that something the photographer/agent would work with him on at the time? or will he need to prep that?

[peace123]

He told me I have to look at townhouse I am buying first before he can list my condo apartment for sale as I have to be able to move to the new home and purchase it right after selling the condo. This was requirement of my loan, most likely due to income limit.

So tomorrow he is showing me a townhouse that is listed on sale. What should I look for or ask him?  Should my agent explain things to me? I will find out if the rooms are spacious enough, any visible damages to walls or ceilings. But what else? What should I look for and know about the basement?  He told me the seller's realtor may not be there and there will be a key hidden somewhere and thats how we can go see it. If I have questions or concerns. my agent will ask and speak to the seller's agent?

[ckmk47]

The first thing is to look at the layout of the rooms and see if you can picture yourself living there.  Where the toys go, where you'll sit with your coffee, etc.
Notice the feel of the building- it's hallways, grounds.
The neighborhood, the block.


If you like it, you put in a bid.  If the bid is accepted, you bring in an inspector (I actually am not sure this step happens with a condo, bit it certainly is necessary in a house) to look check out the structure.  The roof, plumbing, electric, A/C...  If the inspection finds a major flaw, you try to get the price lowered based on the cost of repairs.


Then you sell your house to get the money, and then close on the new property.
And move.

[ckmk47]

is that something the photographer/agent would work with him on at the time? or will he need to prep that?

IDK.  But look at the pictures on zillow.  If it looks cluttered, you view the house less favorably.

[yesitsme]

Real estate photography is misleading they take it in an angle that makes the room look double the size

[peace123]

Very disappointed with the first townhouse I saw,toured today. It is the only townhouse we liked from the few we found on listing site and what the realtor emailed me.
Good area close to a train stop and  and it is on A side. So I went there to tour with my wife. The rooms are so small. The living room is small, maybe we can deal with that but the kitchen is very small and hardly any space for dining space. The kitchen appliances although new are  plastic and super cheap brand and very small. I can replace the kitchen appliances but what good are they if the kitchen is very small?  The 2 bedroom sizes are not bad but the half bath which is just for toilet use is extremely small, barely enough space to wash hand and crap. The main full bathroom is very small. The basement is  fine as it is a finished basement with hardwood floor where my child can play. the laundry area a tiny corner is bad and dark.

Overall, very disappointed  with the kitchen space, super tiny, extremely small  half bath, very small full bath, very small kitchen space. small living room.  My current condo 2 bedroom with 1 and half bath is bigger then those I saw today. My living room alone maybe twice the size of that townhouse living room.
I may end up abandoning my plan to sell this and move to condo after all. My reason to think of moving to a townhouse in a nearby suburb is to move little far away from this big city and neighborhood crimes and family unfriendly lifestyles etc. But it is okay. I have only lost one hard inquiry for the loan preapproval and not any money so if I have to wait few months or years to eventually find a townhouse we like, we are fine with it.

By the way the townhouse description says
1,069 sqft.  Does that mean  overall sizes even including the basement right? It must be cos my 2bedorom condo is 970 sqft.

[Pad18]

Not always the first one is the jackpot !
No need to make drastic conclusion after a bad experience. Relax, nothing happened, continue your research, and take a wise decision after a few options.

[peace123]

There is  a company that says BETTER. It has a $2K credit for loan or refinancing if you are amex card member.
https://better.com/my-loan/1845564011/rates.

Until I find a suitable next home, should I refinance with BETTER to get the $2K amex credit or even same some money on interest or monthly payment?
My current rate with US bank is 4.25% and loan balance now is $90K. I have 815 fico score.

 When I entered my info on BETTER, Almost all of the rate on BETTER is better then what I am paying currently. The lowest is 3% interest but $2065 points. The Highest is 4.25% same rate I am paying now with US bank but it shows -$1023 in credits and $447 principle and interest.
My currently principle & interest with US bank is higher with $561.00 a month.

What option is better rate for me?

Also what if I decide to move, sell this and buy another home in few months or next year? which loan term from above is better in this case?

If I still do this refinancing and stay for 2 or 3 months, I will still get the $2k credit for being amex card member right?
Will I waste any money in fees on this? Any cons?

Thanks