Having a Negative Home Inspection can be a Positive thing for a buyer. The home inspection is done to educate the buyer what they are purchasing. Whether it is good or bad the purpose is to educate your buyer. In an "as is" sale depending on what the report disclosed can sometimes be paid for by the seller (but only if the seller is willing). As a Realtor our duty is to help the buyer gather as much information as possible, but in the end it is up to the buyer if they want to proceed with the purchase. I hope that helps.... more
Most buyers currently are in the position that they have to place multiple offers on homes with the hopes of getting one of their offers accepted. This is a very competitive market for homebuyers.... more
You would need 45% down and a current valid passport to qualify to purchase as a foreign national. Your daughter and son in law may qualify with a minimum 580 fico score and as low as half percent down payment owner occupied.
You could gift them funds towards the purchase and put your name on title after closing. Ownership is determined by who is on title and not the loan. Also rates are under 4% on owner occupied purchase 30 yr fixed rates. I could qualify them in minutes and issue an approval letter and they could go shopping for a home for you?
I only need to ask a few dozen questions to determine what price range, maximum purchasing power. Here is a link with flyer, maximum income limits and a needs list to gather for processing a loan approval.
Sheryl Arndt, Real Estate Broker â€“ Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
As soon as you use the "F word" (fraud), you need to be advised by an attorney, not agents or brokers. How-some-ever, the comments you received below are all accurate given the situation you describe and I think retraction of the F word is in order. Short sales work differently and the note holder (bank) can take whatever offer they want, they are not bound to take the highest $$$ amount if they like the terms of a lower offer better. Regarding your comment on the MLS, most MLS systems do have a requirement on when a property must be posted after the listing goes into effect (48 hours in my area). However, in California the seller can sign a listing agreement and still authorize the broker to keep the listing off the MLS for a period of time by attaching "Seller Instruction To Exclude Listing From The Multiple Listing Service Or Listing Information From The Internet" (CAR Form SEL). Happens all the time. As your agent has probably explained, you can't get your pants in a wad over short sales, they are slippery varmints.... more