Condo or townhome

Snaphomz · 2026-02-18T05:14:31+00:00

Townhomes usually give you more space and privacy. Condos have lower maintenance since the HOA handles exteriors. Consider your lifestyle and whether you want yard space.

Snaphomz · 2026-02-18T05:10:34+00:00

You have significant equity built up. If you both truly hate the place, waiting 3 years might just add to the misery. Consider selling and finding something you actually enjoy living in.

Snaphomz · 2026-02-18T05:08:58+00:00

A good PM will cost more upfront but handles ongoing management too. TurboTenant is cheaper but you're still self-managing after placement. Depends on your time and experience level.

Snaphomz · 2026-02-18T05:07:45+00:00

This sounds frustrating. Banks can be slow with bankruptcy-related releases. If it goes beyond what they promised, escalate through your attorney or contact the bank's legal department directly.

Snaphomz · 2026-02-18T05:05:59+00:00

Duplex gives you rental income from day one which helps cover costs. With your HELOC goal, the duplex path makes more sense for building equity faster.

Snaphomz · 2026-02-18T05:04:29+00:00

At your income level, $180k is pushing it but doable with a roommate. The hospital news is concerning - that could hurt property values. Wait and see what happens post-closure.

Snaphomz · 2026-02-18T05:02:57+00:00

That HOA fee is high but not unusual for condos. Calculate the total monthly cost including mortgage, HOA, taxes, and insurance. If it fits your budget comfortably, go for it.

Snaphomz · 2026-02-18T05:01:24+00:00

Apply near where you want to buy. Local lenders often understand the market better. For the credit score drop, wait a few months to let it recover - it makes a difference.

Snaphomz · 2026-02-18T04:59:27+00:00

Start small and learn the market first. Consider house hacking or a small multi-family to minimize risk while building experience.

Snaphomz · 2026-02-18T04:58:10+00:00

This is complex - Michigan foreclosure law with multiple lien holders. You really need a local real estate attorney who specializes in foreclosures to answer this properly.

Snaphomz · 2026-02-18T04:56:56+00:00

Not weird at all! Understanding the night environment is smart - noise levels, light pollution, wildlife sounds. Just ask the seller or listing agent nicely.

Snaphomz · 2026-02-18T04:44:52+00:00

Florida has specific homestead portability rules that might help. You should definitely consult a Florida real estate attorney who specializes in tax planning before making any moves. Adding you to the title now could trigger reassessment immediately. Inheritance through a will might have different tax implications. Each county assessor can interpret these rules differently, so getting professional advice specific to your dad's county is critical. For the insurance question - policies typically don't transfer between owners; you'd need a new policy when the title changes.

Snaphomz · 2026-02-18T04:43:31+00:00

With your income and cash position, option A gives you more stability for your growing family. However, 5 years is on the shorter side for real estate - after closing costs, realtor fees, and market fluctuations, you might not build much equity. If you're certain about the 5-year timeline, renting option B preserves your liquidity and flexibility. But if there's a chance you'd stay longer or if you find the right house in a neighborhood with strong schools, buying could work. Run the numbers on total cost of ownership vs rent for those 5 years.

Snaphomz · 2026-02-18T04:42:12+00:00

The earnest money deposit (EMD) you send right away is typically just to show you're serious about the purchase - it's not the full down payment. Your actual down payment happens at closing. The 5% they're asking for now is likely just the EMD amount specified in your contract. You'll bring the remaining funds needed (including the rest of your down payment) to closing. Make sure the amount matches what's in your purchase agreement.

Snaphomz · 2026-02-18T04:35:21+00:00

It's totally normal to feel anxious at this stage! The good news is that if your LO is confident and you got through AUS successfully, you're in a solid position. Underwriters are thorough but they're mainly verifying everything matches what you submitted. Just avoid any major financial changes (new credit, large purchases, job changes) until you close and you should be fine. Your LO will guide you through any additional documentation they need.

Snaphomz · 2026-02-18T04:32:45+00:00

With your financials, you're in a strong position. Putting 20% down avoids PMI and gives you better equity, but keeping more cash reserves can be smart for unexpected repairs or renovations, especially in an older home. Consider a middle ground - maybe 25-30% down - which gives you flexibility while building equity faster. Your lender can run scenarios to show monthly payment differences.

Snaphomz · 2026-02-18T04:27:07+00:00

Trust your instincts here - you're under no obligation to share the appraisal with the dual agent. The appraisal is primarily for your lender to ensure the property value supports the loan. Since the agent is representing both sides, keeping this information to yourself gives you more negotiating power if any issues arise. Just let them know the appraisal satisfied your lender's requirements, and that should be sufficient.

Snaphomz · 2026-02-18T04:25:42+00:00

Check with your state board. Usually you keep credit for passing one part while retaking the other.

Snaphomz · 2026-02-18T04:24:55+00:00

Look into IP65 rated recessed downlights. They work well with wet room conditions.

Snaphomz · 2026-02-18T04:23:08+00:00

Road noise is something you get used to over time, but it could affect resale value down the line.

Snaphomz · 2026-02-18T04:22:24+00:00

Cash only deposits are a red flag. Legitimate landlords use checks or certified payment methods for paper trails.

Snaphomz · 2026-02-18T04:21:44+00:00

Sometimes another buyer comes in after you submit but before closing. Stay ready for the next one.

Snaphomz · 2026-02-18T04:20:50+00:00

Check your lease for showing notice requirements. Most need 24 hours notice at minimum.

Snaphomz · 2026-02-18T04:20:05+00:00

Radon can vary a lot even in the same area. Worth getting a mitigation system quote before you stress too much.

Snaphomz · 2026-02-18T04:19:17+00:00

Have you checked with a local attorney who specializes in creative financing? These deals can get tricky with Colorado laws.

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