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  Your Professional Realtor of Choice  -  Dwight Puntigan  -                636-219-6242


Most important is to never offer more than you can afford.  Talk to your lender.  If you do not have one ask me for a recommendation that is appropriate for your situation.  Your lender can approximate on average the amount of escrow in your payment for each month attributable to property tax, insurance for house, and mortgage insurance if applicable.  Once we find a listing for you, he can figure it a little closer.  Do not be surprised by the down payment required, fees for building inspection, and survey, or a payment to the home owners insurance agent, lenders fees, or cost of title insurance.  You need to decide what you are comfortable with.  Do not use up your rainy day fund.  If there is an unexpected emergency there should always be some fall back capital available.  For your normal monthly cash flow, how much do you want to budget for utility bills that you did not have before.  How much of your discretionary funds do you want to save, spend, and actually put into a home.  Don't forget estimates of household items, furnishings, etc.  Then you go back to the lender to make sure what that number will allow you to borrow.  At that point we could know what price range to be shopping in.

Pocket book, your minimum requirements, your dreams of what might be added in are a consideration.  If the pocket book can afford your dream house, we can make it work.  If you and your lender have decided on an FHA mortgage we will be looking for homes that are of move in capability, so that  they will pass the FHA inspection.  If you are looking to purchase property needing repair that you can do yourself to build sweat equity FHA will not work.  FHA has a 203k product for funding repairs needed to allow the property to pass FHA inspection, but it requires licensed contractors.  We can discuss foreclosures, short sales to compare time needed for the bank to agree, normal condition of the property, and typical value. 

Yes, whether it is a private seller or a bank we will use our resources of property tax, comparables, and condition of the house to ballpark what we think it is worth.  I will talk to the other agent to see how much information may be available to take into account the sellers requirements for sale price.  If you need assistance with closing costs, there are situations where that may or may not be available.  I will also use the MLS to see what the averages are for list price to sale price in the neighborhood.  So the variables are you, your financing, your time and value requirements, and the sellers situation, value and condition of the house, and even the other agent.  Add it all up and we will strategize our offer.


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