How about this house?

[ssmssm]

Originally Posted by kww

In addition, the buyer can anticipate possibly paying an additional $18,974 at closing in buyers fees (that are not part of your regular closing costs, nor does this amount get applied to your down payment)..

What do you mean $18,974? Normal closing cost is around 10k, isn't it?

[ssmssm]

Originally Posted by HokieFan

Yes, you can view the home before making an offer. A real estate agent (maybe yours?) would be able to tell you if you can make the sale contingent on a home inspection.

OP, have you considered expanding your search area to others that also have highly regarded schools? Where will you and your spouse be working? Maybe the posters of city-data can recommend other, more affordable, neighborhoods for you?

I like the area (schools, transportation, commute, etc). I am single.

[kww]

Originally Posted by ssmssm

What do you mean $18,974? Normal closing cost is around 10k, isn't it?

That foreclosure is subject to a buyers premium of 4.5% of the final sales price, along with a web technology fee of $299 for the transaction.

That amount is in addition to your normal closing costs and down payment amount.

[ssmssm]

Originally Posted by FCNova

Someone posted before about their experience where they bought a house that seemed nice, but then a lot of issues popped up and it ended up being a money pit. You replied that was one of your worries. If that's the case you should just avoid short sales or foreclosures altogether. It's almost a certainty they are going to have much higher maintenance costs, either upfront to get it move-in ready or over time fix things that have been neglected. There is a reason they are typically priced so low. To answer your question, yes you can still get a home inspection. It will probably turn up a huge list of items which they already said they wouldn't fix(sold as-is).

Yes, but I narrow down search area a lot, very focus on that elementary school area. Very few houses come out from the area....

[ssmssm]

Originally Posted by kww

That foreclosure is subject to a buyers premium of 4.5% of the final sales price, along with a web technology fee of $299 for the transaction.

That amount is in addition to your normal closing costs and down payment amount.

Good to know, how can I tell the information 4.5%? Another question: I am not going to pay my agent's commission fee, right?

That is why I prefer to ask questions here, always can learn something, something my agent never tells me.

Thanks.

[FCNova]

Originally Posted by ssmssm

That is why I prefer to ask questions here, always can learn something, something my agent never tells me.

Thanks.

If you're learning more from an anonymous msg board than your agent regarding your home purchase, I think you need a new agent.

[kww]

Originally Posted by ssmssm

Good to know, how can I tell the information 4.5%? Another question: I am not going to pay my agent's commission fee, right?

That is why I prefer to ask questions here, always can learn something, something my agent never tells me.

Thanks.

It's in the MLS.

And I'm sorry, I could not know the arrangement you and your agent have regarding his/her commission.

[ssmssm]

Okay, let me pass this one. I am not going to take the risks to buy a foreclosure home.

Thanks, everyone.