203k loan is designed to help home owners who are in need of financial help for home repairs, renovation, and even new purchase. 203k is a very good program however, getting it is not the easiest process. You have to team up with a great lender who is knowledgeable about it.
For more details about 203k loan, visit www.cfs203k.com. CFS Mortgage and RenovationReady brings together more than 50 years of traditional and renovation lending know-how. Let their team of experts help you.... more
Some agents will require you to sign a contract with them before they will work with you. The reason for this is that no agent wants to spend hours and hours working with a client, then the client uses another agent to make the offer. No one wants to waste their time and work for free.
I, however, usually send my clients lists of available homes and show them the homes that they want to see. When they start getting serious about buying and we are a good fit, then I require them to sign an Agency Disclosure with me.
I like doing it this way because it keeps the options open for both the buyers and me. If either one of us is uncomfortable with the relationship, we don't have to continue it.... more
It's difficult to find a home that is available on a land contract. The reasons are many but mostly it's because if it's a foreclosure by a bank or credit union or HUD or Fannie Mae they will not sell the house on a land contract. They simply want the house sold and off their books. Most homeowners cannot sell on a land contract either. They need the money out of their house to buy another one or sometimes they are leaving the area and don't want any loose ends. In addition, many mortgages have a "due on sale" clause in them which prohibits the seller from selling on a land contract. Most sellers want a substantial down payment because they need to cover the closing costs including the realtor's commission. And with a good sized down payment they can feel more secure that the buyer will actually keep up their end of the bargain. With little invested, some people will change their minds and not buy the house after all, or even worse, trash the house and disappear. And a seller will always want to see a good credit score because they have the same feelings as a bank - if people aren't responsible with paying their other bills on time, they probably won't pay their land contract payments on time either. But there are always exceptions and a few land contracts exist. Check with realtors and the homes for sale in the newspaper and sometimes even Craig's List.... more