 I am going to re-finance my house with Countrywide.? |
| It will be a loan fixed at 30 years. 6.125 I fill out an inquire last Monday and they allready aproved my loan. Nex thursday I am to sign . The Notary will come over muy place. Where is the ... |
|
 Can A Listing Agent get the whole commission if he is listing and selling a home? |
| I really want to buy this home and I was wondering if I can go directly to the listing agent and for him to represent me.... |
|
 How do you know if you can trust your Realtor? |
| it's not that I don't trust my Realtor, but his suggestions to me for selling my house quick is to increase the 6% to 8% so Buyer's agent etc will move quicker trying to sell it. I ... |
|
 House fence question? |
I live in a terrace house all former council. All my
neighbours like me now own their homes. Did my neighbour
to the right side have the right to replace the fence that
divides our ... |
|
 Do you live in a House, Apartment, or Trailer? |
| If you live in a house trailer, have you ever been on Jerry Springer show? On stage? :)... |
|
 Does a landlord have to pay any utilities / ammenities? |
| Does the landlord have to pay for trash pickup or is it ok to not include it in the rent? ***CA... |
|
 I need help to resolve a family problem? |
| I moved in with my elderly grandmother two years ago to take care of her after she was diagnosed with Alzheimer's disease. There was a verbal agreement between my father and I (he is her POA) ... |
|
 My mortgage broker has pulled my credit and given me preapproval, will the lender pull my credit again? |
| My broker has informed me that the lender will pull my credit again when the loan application is submitted. I have always been under the impression that as long as the closing was within 30 days of ... |
|
 How many homes do people typically own in a lifetime, am I not being realistic? |
I am 25 and married.
We own a 3 bedroom/2.5 bath home that will be paid off in less than a year.
We wanted to do a small remodel and upgrades in the house since is very 80'... |
|
 Can the HOA or Home Builder regulate whether you can rent your house? |
| I received a letter from my HOA asking for me to occupied my house or sell it due to a contract I signed with the builder. The contract says that if I rent my house out for any reason I would paid a ... |
|
 Landlord issues? |
| My landlord keeps sending around her hechman. Our rent is paid on time every single week, we keep the place looking nice, but she sends him round on suprise inspections, and just to check up on us. I ... |
|
 PLEASE help me decide which house to live in!! Thank you!? |
Hello Everyone,
I am very confused as to which house I should live in. Months ago, I found a room for rent about 35-40 minutes awaynfrom my job and where I currently live. It is an ACTUAL ... |
|
 Can I break my lease if my Landlord will not get rid of Bugs... Please read!? |
| I just moved in to a new and nice apartment in February. I am a very clean person and I have never had bugs in any house that I have ever lived in... I called them twice and went to the office twice! ... |
|
 I am a landlord: i need to know if a cracked floorboard caused by my tennants usage is damage or wear/tear? |
| I am currently renting out my property. I have wooden polished floorboards. One of the boards has been cracked open and split due to the wheels of the tennant's chair continuously rolling over ... |
|
| Will second wife get the house? Mom and dad bought home in 78.Mom died 93. Dad marries in 2000. Never moves in |
| with new wife. He has 6 grown children with mom none with 2nd. Second wife is proven pathological liar and he went into the marriage with rose colored glasses on. His children could see that she ... |
|
 Should we rent or sell our home when we buy a new bigger home.? |
| We have grown out of our home and need a bigger house. Someone suggested that we refinance our current home with a traditional loan (we would not need to purchase insurance b/c of the equity in our ... |
|
|  |
pepper | Pros and cons of buying foreclosure property.? |
|
 |
 
teran_realtor
|
A foreclosed property means somebody didn't make the payments, period.
I've sold foreclosures that ought to be bulldozed, and I've sold one that was new, all the upgrades ordered, never been lived in, with full builder's warranties in place. The one I bought to live in, we vacuumed, did a REGULAR cleaning of the kitchen and baths and moved in. Have lived there 2 1/2 years and nothing has broken yet. So condition wise, a foreclosure can be in ALL ranges. Buying "AS IS" means that nothing will be done to it. It doesn't mean stuff is broken.
One big advantage (which is going away) is that so many people look down on foreclosed properties, so the competition is a bit less.
Also, inspection contingencies allow for less leeway than a typical, seller occupied property.
Just have your Realtor include foreclosures as if it's just another listing. If it fits your needs and the price is right, buy it. If a "regular" listing is a better deal for you, buy that instead.
BTW - This weekend is probably the best weekend of the year to get a good deal on a house. Fewer buyers bidding on foreclosures. HUD houses still have bids due Sunday night... Call me if you're interested in Texas (especially San Antonio) HUDs. |
|
Kevin H
 |
You are purchasing a time stamp of someones worst emotional period. Years ago someone bought their dream home and that dream was shattered. Most homes are reflective of such and will have damages and missing appliances etc. Thats why they are seemingly a great deal. Many are and most are not, be careful and know your market, codes, and repair costs. Most time tested investors know this, most wanna bee investors will learn this the hard way. There are a variety of talents necessary to be a successful investor. The pro's and con's are directly porportional to the talents each has. Your con might be my pro, etc, the key I teach my students is to go there and look carefully before buying so you can know when to stop bidding. |
|
Carl-N-Vicky S
|
depends on who owned it prior too. possible pitt falls - contained hundreds of cats, bullet hole from raid, junkies still come for fix, haunted, crappy neighbor hood. |
|
WHUFF
 |
Pro- you can probably save some money, most banks are not that desperate to sell a foreclosed house for a great deal below its fair market value
Con- The house will be sold "as is" and most foreclosed property will need a great deal of repair. |
|
zocko
 |
It took about 8 dumpsters to remove the junk. The dog used the carpet. There were 5 bids on it. Had to rip everything out of the house and replace it. Nothing is maintained. They do look like crime scenes at times. |
|
David
|
Many of us do this for a living. This is the start of my fourth year. Over 50 houses later and I feel that I have seen about everything there is to see.
Pro: You can make money just like any other small business. This line of work is truly a Risk:Reward ratio.
Cons: Endless. If you can imagine it, it will happen.
Trying not to spam, but the reference line is my business website. Do some of these homes look appealing? Well they do now! Most of them were complete wrecks on the inside. I almost NEVER get to see the inside of the property before I purchase, but that is because I am buying them directly on the court-house steps. You can minimize most of the risk by buying from banks or wholesalers after the auction. Sure, you will pay a bit more, but a) you will still get a property below market value, b) you won't be risking your financing, and c) you will eliminate the great unknown (what is on the inside?). Once you get some more experience under you belt, then you might consider my line of work. Best of luck. |
|
Quest
|
The pros are that you may realize a savings over owner listings, they are usually unoccupied so there is no waiting period to move in, some may be loan assumable...
Cons are that they are not easily accessible/harder to sift through listings for - usually require a Realtor to assemble a comparable selection for you (reason many of the true deals are already gone), usually require work just to move in and more difficult to finance due to their history of foreclosure and any repairs needed that don't meet certain lenders acceptable standards.
I much prefer searching for forced sales. Searching area newspaper and FSBO sites for 'motivated' sellers who even advertise that they are facing foreclosure, divorce and just want someone to take over their loan amount. And my favorite are the ones going for taxes at the court house steps. Cash deals though. Cheapest with greatest profit potential - but be prepared for work. |
|
carls812
|
Pros: Cheap property, sometimes other usable items included
Cons: Sold as is, may not be in good shape. Maybe Guilt that you live in a house a family has been tossed out of. |
|
El_Nimo
 |
Pros - Great return on your money if all the stars and moon are aligned right.
Cons - Like someone else stated, Murphy's Law. If you can imagine it, it will happen.
If you will be doing this on a regular basis, you need to know the house better than the next guy so you can stop bidding on it before you're in too deep.
The best time to buy the foreclosure is when it's pending, not at the court house step unless you were able to get a peek inside the house (legal or illegally). Once the house hits the market the bank will be asking for an arm and leg. |
|
kishaloy_bhowmick
|
Cheap property ....you can live there and also you can just have an investment property and then sell it later for profit ....problems sometimes are there that they might not ber properly maintained but that is a small price that you have to pay for a good profit ....If you want to have a mortgage loan you can write to me at kishaloy_bhowmick@yahoo.com or call me at 480.751.4125 .I provide mortgage loans at very decent rates and my customers have a high end of customer satisfaction ...now the rates are like higher fives and lower sixes and you can also opt for 30 year loan periods.........
regards,
kish |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 22 minutes(s) ago
| | | |
10 | 50 minutes(s) ago
| | | |
10 | 2 hour(s) ago
| | | |
10 | 5 hour(s) ago
| | | |
10 | 8 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
10 | 2 day(s) ago
| | | |
10 | 5 day(s) ago
| | | |
10 | 1 week(s) ago
| | | |
10 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
