Has she gone to probate court? The times my family has dealt with inherited property, it's a pretty simple transaction at the courthouse. We never even needed an attorney but if you aren't sure what to do, I would suggest you talk to a local one.... more
I always recommend this to my sellers. For one there will be no surprises during the buyers inspection. It also gives you the opportunity to fix all the little things so when the buyers inspection happens there are not pages and pages of repairs. With pages and pages of repairs it can turn buyers off to the home. I really do not see any reason why you shouldn't other than everything found would have to be disclosed. If the inspector finds a major repair and you are unable to complete that repair you can always adjust your sales price to reflect that. This also helps during negotiations. Since you have repaired all the little items and have disclosed and adjusted your price for the major item you usually do not see as low as an offer as you may otherwise. I would definitely recommend for the price.... more
If you've been at your current job or in your current industry for at least the last 2 years, you may want to look at USDA financing. It's a 0% down program for low income borrowers. But it is only available in certain areas, you need decent credit (not A++ though) and you need to demonstrate a stable income. Go to the USDA rural development website to find out more details and lenders in your area... more
Help[ i need an InvestorI have been renting a home in a newer development in Medina County. I have been here 5 years and was just told that the owners are facing foreclosure. I need someone to help me out by trying
Im an investor in the area, If you are unable to get refinanced let me know, I will give you a cash offer if the property meets my criteria. I am sorry for your situation, but if i can help you let me know. 330-592-3526... more
Dear poor credit, Did you ever find a home to RTO? If not, I can give you some pointers on how to boost your credit in less than a year. I actually know someone who raised his credit score 60 points in three months and was able to purchase his first home. Don't give up, diligently move forward and you too will be able to own your own home. Call me at 330-967-0555 if you would like some pointers on how to raise your credit score.... more
This is a situation where you really should get some competent legal advice from an attorney licensed in Ohio. Unlike many states, Ohio recognizes a "Dower" interest which is an interest your spouse may still have in this property. Ohio real estate is governed by Ohio law no matter where you live.... more
Reviewing the currently available condos in Granger lake the price range is anywhere from 79,000-235,000. I would love to talk with you about your specific condo and help you determine its value. Please call me at 330-807-3001 or email me at email@example.com.... more
Unfortunately, the attorney is hired by the lender to handle the paperwork involved - not to know the condition of the property. If the attorney knows anything about the physical condition of the property - it's a plus! The attorney may know about other liens but may not know of all the liens. They are hired to look out for their clients best interests so would investigate other liens that may impact their own position. So ask ANYTHING you can think of. The attorney may not have all the answers for you - but you might get information you never even thought to ask about. Attorney's job is to not have to get the property back - but to have someone pay off the lien to the lender. If they can interest you in the property enough, they will have done their job of finishing the job and not have to have the lender deal with a now-foreclosed property.
What is your motivation for purchasing at Sheriff Sale? If you believe that getting a good deal at Sheriff Sale is a 'given' think again. I believe your best 'deal' may be after the lender has gotten the house back from Sheriff Sale. Or before it has gotten to that point (short sale).
The lender will send a representative (sometimes the lawyer) to bid on the house to cover the loan, foreclosure costs and any other fees that they are 'out of pocket'. If someone bids more than that - they're covered. Often (not always) you can do better after the bank gets the property back. AND you will have the luxury of having gone through the house to see if you want to make an offer at all. Same with a short sale. Seeing the inside of a house can be the deciding factor in if you want to own that house. I'd hate to have you see if after you already own it and decide, 'this is not for me.'
Yes - you can get a 'deal' at Sheriff Sale if you do all your due diligence prior to the auction. If the loan is 'not that much' and there are no other liens on the property (mechanics, IRS, 2nd, 3rd, prior, etc.) and the person living there now (could be the previous owner or someone who has moved in while nobody was looking) is reasonable, hasn't damaged the place and is willing to move out without a battle, then go for it! Be advised that there will be other people out there who are also doing 'due diligence' of properties up for auction. They've been around awhile and know what to do - many of them know because they've been a 'student' of the process (and may have gotten some unintended, hard lessons along the way).
If you are concerned but want a deal on a home a good website to view would be to go through www.homepath.com. These homes are owned by Fannie Mae. You would get the chance to view/go through the property top to bottom, if you wish. If you'd like financing, especially primary residence financing, you could put little down, have no private mortgage insurance and have no requirement of appraisal nor home inspection (you can get these if you'd like for piece of mind but you would not be required). If you're interested in learning more about mortgage financing options please reach out to me. I'd love the opportunity to work with you. Warm Regards, Kimberly Lawson Mortgage Loan Originator T/F: 888-659-3848 firstname.lastname@example.org http://kimlawsonloanofficer.com NMLS:5601 OH.LO.004495.000 First Priority Financial Inc "Where Open Minds Close More Home Loans" 748 N. Court Street, Suite 201 Medina, OH 44256 NMLS:3257 Licensed by Ohio Division of Financial Institutions, MB.850147.001... more
Most likely NO, buyers at auction usually do not get to see the house, they are responsible for evicting occupand, they will have to fix any damage they cause and can not make the sale contingent upon a mortgage. In most auctions the buyetr is also responsible for back taxes, liens or any second or 3rd mortgages. You will want to complete a title search. It is why virtually all auction buyers pay cash.... more
The standard financing scheme that you can get out on most financial institution is 20/80 and 30/70 percent, meaning you have to pay the 20% or 30% equity before you can finance the remaining portion of the transaction price. But there are a few who could offer you a much lighter scheme than this if you will just be patient enough to look for them, start searching and see if you can find something that can really fit your budget well.... more
I think you clicked the wrong button. You might also try the MLS, or the tax records to contact the owner directly if not in MLS. If it was r - track or one like it, the property may not be for sale yet. They use "bait" properties to get people to pay for their service.... more
Hi! Maggie, I could take a guess at this question, but this is a question best answered by an attorney. Look for attorneys that deal in real estate law for this answer. Good luck to your friend. ~~Kathy... more
Here in NJ we have a period called attorney review that kicks off after both parties have signed the offer accepting its terms. As it implies, it is a period in which the contract is reviewed, adjusted and ultimately accepted by the attorneys on behalf of their respective clients. Once that period ends, you are officially "under contract". Up until that point, either party can leave the transaction without recourse to the other.
I agree that the fundamental question is whether you had an enforceable contract at the time the seller walked away.
That question and advice on next steps will best be answered by an attorney. But I would suggest you start looking for other options - it is hard to make someone sell something if they do not want to.
Unwavering Commitment to Service... more
I think if you really like the house you have the right to pay for a fee for appraisal of the house and modify or write a new contract at that appraisal value. Any mortgage will only give you a loan based upon the appraisal and if you don't exercise your option they will get lower purchase price from the next tenant. Get a really good real estate attorney in your area and they can make sure you are not on the hook for past taxes, or liens and that you get clear title.... more
Why do you want a fee? If you are the buyer and have already agreed to a transaction with the seller, then just have an attorney complete the transaction for a flat fee. The seller saves on the commission and in turn offers the property to you at a reduced price.
If you are looking for a finder's or referral fee by introducing a seller to an agent, please understand that only licensed real estate professionals are allowed to receive commissions and referral fees.... more