 1st day in a new apartment.. Next door neighbor complained.? |
Today was Day 1 at my new apartment. I decided to bring blankets and sleep there for the first night.
I got there around 11pm, put my blankets on the floor and lied down.
At 12am my ... |
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 About to buy a home! But a few ODD questions.? |
First off let me show you the home.
http://www.realtor.ca/pr
It is a small 2 bedroom home, On a nice quiet street- I have been communicating with Edward ... |
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 Ok my brother wants to buy a foreclosure house but get this hes 16years old? |
any i was wonder if its even possible for him to buy a foreclosure house it kinda peaked my curiosity
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and i heard that its possible if he has like our parents to co ... |
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 Bottom Line: Do Real Estate Agents Deserve 6-7% of a person's net worth? |
In short, for working 12-40 hours, do they deserve the equivalent take-home pay of almost a year of labor??? (assuming most people have a 30 year mortgage and pay about half to it each month...)
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 My rent is due the first day of the month..? |
| and the first day of this month was a saturday and the office was closed. I could not get to their drop box to drop it off either. I don't think I can get it to them til tuesday the 4th since ... |
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 Is 5% too high to pay a real estate agent? |
| I live in Pleasanton CA, and have recently been informed by a friend that my agent is robbing us, by charging 5%. Is this true? What is a good percentage? And does anyone have any tips on ... |
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 Based on our income what would be an affordable home price? |
| My fiance makes about 95,000 a year and i make about 85,000 a year. what is an affordable home price? we are both 27 years old and still have time for raises and advancements in our careers. We live ... |
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 As a tenant, what can I tell prospective buyers? |
I have a question for those 'in the know' here.
Our landlords have been pretty deceitful about the house. They lured me in with promises to update and fix things but never did ... |
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 Is there anything i can do about my neighbors guitar noise in my apartment?complex? |
| theres not a certain time of the day or an exact day of the week that he does it, but it's annoying as hell. the floor shakes and you you feel the vibrations when you're trying to watch a ... |
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 Are you sheltered from the mortgage crisis? |
| because you are lucky or becasue you have a 3 suitcases full of product in your closet?... |
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 Where is a good place to move? Why? |
| I would like to move somewhere that the cost of living is affordable, housing is reasonable, good school systems, wages with an B.A. degree or higher pays well, crime rate is not high, and a great ... |
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 Buying 1st home, 30 yr. fixed,10 yr interest only loan? ADVICE? |
| I have applied for a loan of 160,000.00. Approved for 30 year fixed @ 6.75%, 10 yr interest only + (including taxes, insurance, haz-insurance). I am pleased about the payment. What do you think about ... |
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 Being evicted? |
| This month has been hard on our family. We ended up paying rent very late. (just on sat) But we paid it in full and late fees included. This was the only time this has happened. The landlord came ... |
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 ADVISE PLEASE!!! Should I stay in the house I am in, or should I move? PLEASE READ BELOW? |
| I am currently renting a home, my landlords decided to put the house on the market and do a short sale. After an open house and 3 other showings, the real estate agent said that she received ... |
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 My parents want to buy a home under my name. What should I do? |
| I'm 22 with pretty good credit and a good paying job. My parents have never owned their own home but now that they're more successful business wise, they're up for it. They both have ... |
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 Is it possible to buy an island for about $2 million? |
| i herrd that leonardo de caprio bought an island for 1.2 millon and i was wondring is it tru becaue i have about 2 million saved and i would love to buy an island where can i get the info?... |
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 Can my landlord require me to do this? |
| My lease ends at the end of this month, and my landlord is sending me 'requirements' to move out. One of them is show her proof of final payment for utilities (in my name). I don't ... |
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 How do I make a nonpaying tenant leave my house? |
| My tenant has left her old mother alone at my house 2 days before the end of the lease saying that her mother would leave on the last day and return the house, But the mother refused to leave and ... |
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kit-kat | Why are foreclosures homes so cheap? |
What's the catch is it really that cheap? How can I go about buying one? Do regular realty companies help? I see some houses listed at like 20,000 for a 3 bed 2 bath home... Is it for real? Any websites or realtors you know of I can talk more to about this because I will save up 20,000 and then buy a house flat out if that's the real truth.... Please All Info you can provide real facts and sources to back it up. Thanks
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I asked for sources and real answers people not just an opinion.... Please give sources and reference things... I want facts not fiction |
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Marysue
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Of course it’s “possible,” but without knowing where you saw this property advertised, it’s impossible to know how reliable your information is. I have seen instances where homes are listed on real estate websites at the starting price of the sheriff’s auction, meaning bidding starts at the $20K price you see and ends with whatever the highest bidding investor is willing to pay. If you buy at auction, you’re usually buying sight unseen and must have cash to pay if you win.
Look at this from a common sense perspective: if homes in your area usually sell for (pure conjecture) $150,000, and you see one for $20,000, you have to assume there are major issues. Even if the bank was only owed $20,000, they would absolutely try to turn a profit on the if the house was in a condition to bring $100K or more.
There isn’t just one good real estate website I can point you to. I did buy a foreclosure, although it wasn’t drastically less than other homes around it (and there weren’t any major condition issues). I Googled the topic and read everything I could.
I would absolutely hire a buyer’s agent. If you plan to buy from a bank, banks usually list their homes with agents. Your buyer’s agent will be your best ally in helping you find a deal, making sure you can handle the costs of repairs, and then negotiating with the selling bank’s agent. |
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wizjp
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Because you aren't ralking about foreclosure homes; youare talking about advertising tools used to get you to buy a "foreclosure secret list" and you can kiss that cash goodby. Foreclsoure homes in most states are sold at auction; and usually sell for pretty close to what the market is for a home in that area at that time. There are some houses out there for 20k; in areas you can't live in and in condition no DIY can help. |
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100% Organic Snark™
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Remember the saying: You get what you pay for. If you see something listed for $20,000, you can bet your life savings that it'll take 5 times that much to make it liveable.
It's probably a disaster area inside -- ruined carpets, missing appliances, plumbing fixtures gone, holes in the walls -- you name it, people can do it to a house they're about to lose. |
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Fred W
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Banks are NOT in the business of buying houses.
By the time a house is foreclosed upon, the bank has already received a lot of the money owed by the mortgagee. They only require the amount still owing, to get the house off their hands.
Talk to a loans officer, at your bank, to see how to go about a home purchase. Good luck. |
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orphan annie
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Banks want to sell those houses as soon as possible. They want to at least try and get what was owed on the house and the interest. But will settle for less to get it off their hands. And most of the houses are in bad shape and are sold as is. |
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acermill
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The answer to your question varies. Some of the internet ads you see for 'foreclosed homes' don't give the asking price of the property. They are merely indicating what the amount of the loan deficiency is currently. Other properties which are being sold dirt cheap may need a substantial influx of cash to bring them back to decent condition. Those who are foreclosed upon are known to remove plumbing fixtures, cabinets, doors, and anything else not firmly nailed down.
Another poster indicated that banks cannot ask for more than is due on the loan, which is quite false. Banks ask for as much as they can get out of these properties. Most are listed at market values, and then the negotiations start. |
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Dr. Deth
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better check out where those $20,000 houses are - could be in an inner city drug/war zone - I can't imagine you'll find any priced like that in any nice suburb in any area that actually has jobs and a healthy economy |
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Peter K
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Easy one. With the housing market collapsing due to reckless lending, there are no buyers and there is no chance of the mortgage companies getting their money back. They are cutting their losses and trying to get at least a bit of their money back. |
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Tammy
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You need to be careful here. You will see a lot of foreclosures listed BUT, ALWAYS go and see them before you even think of submitting an offer. In this country, a lot of these homes go to auction and thousands of people have lost a lot of money by buying a property they never viewed beforehand, then find out it is going to cost THOUSANDS to repair/refit/remodel. The only thing mortgage companies care about with foreclosures is getting the money still outstanding on the mortgage, that's why they are listed so cheaply, but you really need to be VERY careful. |
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Linda S
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It is for real! The foreclosure rate is astronomical! In a foreclosure they can only ask what is owed and sometimes they come down on that as the lenders are trying not to go under themselves. So many lenders have lost so much money that they have had to file bankruptcy for their business.
How you get a foreclosed home is to get a mortgage loan and then call on the foreclosure.
If any repairs are needed you can add it to your loan to fix the needed items.
I am a mortgage broker and this is fact not fiction!
First you need to qualify with a mortgage then you need the property that you want to purchase.
We don't know where you live and Realtors will not want to waste their time unless they get your business it is a commission driven business. You can go to the web your self. |
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david p
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when the markets good they wouldn't be |
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