 I am the lowest point in my life and was homeless. I found a room to rent 2 mos ago but the landlord is try? |
| ing to come on to me. Should I stay. I am having problems finds another place to live that is just as affordable. Should I forget about price and just look for another place to live,.since the ... |
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 My partner and I are looking to move out. We both have great jobs but no renting experience.? |
Just wondering if anyone had any advice about what some of the things we can do to help our application have more chance of being accepted?
Additional Details
Wow thank you all so much! T... |
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 Where are the best places to own a house in America? and best place for the job economy in america? |
| My husband and I really want to move somewhere warm, we are looking to buy a house under 150,00 where will that money go the farthest? Are there these places near cities that have a strong diverse ... |
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 If your landloard moves and gives you no forwarding address to mail your rent checks what can you do? |
| My landlord moved from the address which he has us mail our rent checks to. He calls a week after I mailed the checks and lets me know he has moved and is wondering where his checks are. He informs ... |
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 Is it legal for a landlord to average the cost of utilities? |
| I just moved into my own condo, and I've been comparing my costs for utilities (gas & water) to what I was paying at my apartment. They were charging me DOUBLE what I'm paying here, ... |
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 Bank trouble!!! Please look at this, do I lose honest money(tenthousanddollars)... the bank rejects the loan |
| I am trying to buy a house. I gave ten thousand dollars honest money. Then I got the approved letter from the bank. Then ONE WEEK before the closing date, the bank rejected the loan. If the seller ... |
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 What type of mortgage would be best for us? |
| We are going to refinance our mortgage due to a variable rate issue in August. However, we are un-sure wether to go with a fixed rate or a 5 year ARM at a little over a .5 % less. We do not plan on ... |
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 I want this old house, but I don't know the owner? |
| There's this really old, small house on the side of the street on the edge of a small wood next to bigger, nicer houses. I've lived here (Raleigh, NC) for 6 or so years and I have never ... |
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 Buying a house...What should I offer? |
| I am wanting to put a bid in on a house. The house has been listed for about 2.5 months and the owners were originally asking 79,000. The just lowered to 74,000 about two weeks. I was thinking of ... |
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 If house prices are so low right now and still dropping why does my rent still keep going up? |
| I live in Michigan where house values are at an all time low. You can buy a house that 6 years ago was 200,000 for about 140,000 now. I don't have the time for a house and have been living in ... |
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 How do I ask my land lord if she will sell me the home I am renting.? |
| When I first started to rent, she didnt want to rent, but wanted to sell and get the house out of the way and have the money. Now, that she sees I am a good renter, she isnt sure if she wants to sell,... |
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 Legal question what liability does my landlord have? |
| We've got a problem with a leaky roof which is badly in need of replacement with all the rain we're having at the minute even the kitchen window is starting to leak, the roof is leaking in ... |
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| Can a 16 and a 18 year old rent a house in indiana? |
| we are a young family and we want are own space.... |
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| My landlord sent me fake eviction papers to evict me before the sale of this property. Should I go to the DA? |
Additional Details
(1)Court summoms paperwork sent to me lacks any details on what to do like "You must respond in writting in 5 days" ect. (2)I checked and the case number is ... |
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 Do you claim your 1 year of rent on your taxes? |
if so, about how much more did you get back?
Additional Details
for all the people saying you can't claim your rent on your taxes, yes you can where i am.. and thats indiana.. i was ... |
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 How long does it take before agents begin to show my house? |
| My house was only listed about a week ago, but I haven't gotten any calls about showing the house yet. (Yes, I know I'm anxious!). My realtor told me that most likely, nothing would ... |
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jesshispet | Is it really possible to buy repo homes without being an Real Estate agent? |
How do you go about doing it? I am looking to invest in property but am unsure of how to go about it. |
 |
 
Hoopfan
|
You can buy bank-owned homes without a license, but you must use an agent in order to purchase HUD homes (HUD requires this).
The best way to buy homes is either before or after the home goes to auction. You can check your local sheriff dept for a list of homes in forclosure.
If you go to the auction, your competing against other bidders, and most likely the bank holding the mortgage, thereby driving up the price.
Find a good Realtor who specializes in distressed homes (there out there). They will be able to guide you in the right direction.
One final thought.....if you don't see your profit going into a deal, you'll NEVER see it going out. Good luck and be careful. |
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Cleo
 |
Yes, you can contact your local banks and let them know that you would be interested in buying property back from them and they will usually share with you the property that they may have to soon forclose on. Yoy can also look in any of the local papers. When a house is getting forclosed on, they have to run an ad in the paper several times before it goes to the courtyard steps. You can also go to the county courthouse in the area that you would like to buy and ask them for any upcoming forclosures.
Just one word of advice though, when you buy a forclosure, you never know exactly what you may be getting since the owners know that they are losing the property and tend to take out cabinets, plumbing fixtures, light fixtures, etc. You will need to make sure that you are getting it for a price well below the market for that area so that there will be enough margin to fix it up and still make some. You also should check the court records for the home to see if you can find out if there are any liens or seconds that remain on that property so that you do not get stuck with them!
If you are a first time investor, you may want to just purchase a piece of property in need of slight repair from a Real Estate agent so that you have a little help and knowledge of what you are getting into. Then once you have gotten the feel for investing and have gotten to know agents and bankers, then you will have more luck finding answers to questions about forclosures. |
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grand96prix
 |
Look for auction notices in the local papers, you usually have to have money down just to bid. |
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jack w
 |
Several ways. Go to financial institutions that specialize in real estate and see if they have any homes in foreclosure. Go to Yahoo Real Estate, it allows you to look for foreclosure homes.
Contact the local HUD or FHA office and see what they have listed for sale. Real estate agents also handle foreclosures.
Anyone with the money can purchase real estate. |
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lithium630
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Of course it is. It just takes money. Auctions are listed in the paper all the time. |
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Holister
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IM holister and I have the same question so when you find out would you let me know please e-mail me |
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Kim K
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Yes...but it's much harder than it would seem.
Your 1st step is to obtain a copy of your local "Legal News" which will have the auctions posted, along with a "minimum bid". The minimum bid can be misleading however, if the company foreclosing on the property isn't in 1st position. The minimum bid may show $20,000, because that's what they owe on the 2nd mortgage. Unbeknowest to you, unless you do a title search before the auction, the property could have a $300,000 1st mortgage, 2 judgements, and a tax lien that were all filed before the 2nd mortgage, which you as the new property owner get to either assume or pay off (it's entirely up to the lienholder).
You also are limited to "drive-by" viewing of the property, with no idea what condition the interior is in.
Once you get the home, you get the fun job of getting the people who live in the house to get out. This can be done through your local Sherriff's office, but takes time. In the meantime, the people who have just lost their home, get additional time to gut the house.
We all hear stories of the guy who bought a foreclosure home and made out like a bandit, but there are far more stories of people who got in way over their heads and got in trouble. (Of course, those people don't like to advertise their mistakes)
If you decide to do it, make sure you know all the ins & outs before you lose your hard earned money. |
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Mariposa
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Yes. Just look in the real estate aauction section of your newspaper and county clerk's office. You have to have the money for the house though. |
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gosh137
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Yes it is possible to buy repo homes but ---- making money doing this is an entirely different answer. Are you very handy with tools, bricklaying, plumbing, roofing, carpentry? If you can do all this yourself then maybe (realise that people who lose their homes this way are broke, they do not spend money on repairs, and most of these houses are not in the best {value increasing} neighborhoods ). If you work full time and need to hire people to do this work - a New York word of advice - fagetaboutit. You want to invest in property, then invest in stocks of REITS, Real Estate Investment Trusts. That is a much easier way to make money. |
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