Should I buy a house when I am on H1B now?
I am in the same dilemma right now.In fact, my dilemma is even bigger.Due to the Green Card wait time and absolutely no respect left for H-1B visa holders in US, I am thinking of moving out of here for some years.Buying a home shouldn't be difficult while on H-1B. You will have at least 6 years on this visa and its a good enough time to invest your money in real estate or just buy a home and build up your equity.However, with the current uncertainties about what will happen to the H-1B program and the fact that Green Card is now taking at least 10–15 years of time, you should be very cautious in buying a property. The problem with buying is in no way less stressful than selling it, if you have to leave this country within 60 days. I have read at so many places and heard from people who have sold homes, is that, when you sell a home, you will lose 7% of the total sold amount in paying for the brokers commission and other fees. Which means that if you are planning to buy the property for a short term period, you will basically lose more money than you actually gain.The contrary view to this is and brokers will definitely tell you this when you are buying a home, is that, economy is doing fairly well and real estate market is good as well. Hence, this is right time to buy and also to sell.My suggestion is to let the clouds disperse of these uncertain times on H-1B visa and then take a call.Renting an apartment not only protects you from building any liabilities, but also let you live stress free. Because, the rental apartments are usually maintained by the leasing companies. Owning a home on the other hand, brings a lot of unforeseen costs and also keeps you under debt for a long long time, unless of course you have all the cash to pay for the home. If that's the case, don't worry about anything and just buy a home.Good luck!
How do I keep the purchase price of my house out of public records?
The only way you could do it is if you made the transaction a private transaction vs a public transaction. Anytime a mortgage is recorded on record...the transaction becomes public knowledge. There are two basic ways to keep this a private transaction. (1) Do a subject too financing or (2) Pay cash for the property. Most people don't understand and can not do the first and it is to detailed to explain here. The second is usually not possible for most people. FYI... Everyone should do themselves a favor when they close their loans. Take a copy of the note...sign it (in blue ink) and keep it for your records. If you want...you can even have it recorded with the mortgage (the bank will hate you for it...and if you want to know why...just ask me). But, if you ever go into foreclosure...it could very well be your saving grace. :)
What does "public water/sewer" mean?
The the property is hooked up to public sanitation (sewer) and water delivery system. It means that you don't have to pay for the electric to run a well pump. In your rental agreement/lease it should state if you or your landlord is paying for the water or sanitation charges. Some locations the sanitation department and water department combine their charges and bills the premises every month. Whoever is responsible for paying those charges should be stated in the rental agreement/lease. Just like it should state who is responsible for paying for the trash pick-up.
A developer wants to buy my house. Any idea what price over market value I could expect?
Depends on how much the other options to access the new development would cost the developer. If there are no other options, you may be able to get a significant increase. If the developer can re-do the plans for access and avoid buying your house, and it will only cost him, say, $25k, then I wouldn't expect more than $20k in an increase.
What is the difference between a public sewer and water and city water and sewer?
The only difference is where you pay your bill--either to a publicly owned utility company or to the city who owns the water system. They mean the same thing when it comes to buying houses. What they mean is that the house is on a public water system, and does not have a well.