With lease purchase you would be paying the owner rather than a lender for a specified time period,,.here are some basics:1. the owner will require a (nonrefundable) deposit,usually 10% of agreed upon purchase price. 2. you will agree to purchase the property within a specified time period,usually 12 mos. 3.you will lease the property for this time period at a higher than market value rate 4. The deposit & extra funds will be placed in an escrow account to build upyour down payment. 5. At the end of the lease period you will take this escrow account/down payment & go to a lender to get financing.6. if you do not go through with the purchase,you will forfeit these escrow funds.
if you are considering lease purchase,I urge you to work with a local agent who can look out for your best interests. this process can be tricky & you stand to lose a lot of money..... more
Hi Lasalle62 -
As far as I understand, Zip Buyer is a company that buys homes for bargin prices similar to the "we buy ugly houses" company. If a seller is desparate to get out from under a home and is willing to let the home go for a big discount, this can be a quick way to sell the home.
I was not aware that Zip Buyer was working in the Columbia area. I think you were right to be skeptical. Is your home currently listed for sale? If so, it might be worth letting the Columbia Board of REALTORS know about this phone call. You shouldn't be harrased by any other agents or companies while your home is listed.
RE/MAX Boone Realty
(573) 256-3158... more
Well, did the home appraise for more than what you offered? The asking price really isn't the issue. The issue is whether the home is worth what you'd be purchasing it for.
And whether the State Director agrees with USDA isn't the issue. It's not a question of "agreeing." Ask: "Please explain to me why the loan was denied." Whether or not you agree with the explanation, at least that will provide you the basis for the decision.... more
Your bank may have some knowledge of investors that are in the market for new property. Also, there are ways for a Real Estate Consultant to find investors also. I live in O'fallon and would be glad to talk with you more about your situation and what you are looking for.
Have a great weekend!
Keller Williams Realty, Southwest
Are they going to be leasing or purchasing? Either way I will be delighted to help them. My contact information is:
Trisha Lee, REMAX Boone Realty, Columbia, MO
573-999-1000 (cell) TrishaLee@Remax.net (email)
www.TalkToTrisha.com (website)... more
Buyer & seller in Columbia -
I'd be delighted to work with you getting the kind of information to invest in Columbia real estate. I work with several investors who have long term plans (like buying one or two properties a year to build a portfolio).
Please contact me for custom spreadsheets in the segments of the market in which you are interested. The statistics will be different depending on whether you're looking at single family homes, duplexes, condos, apartment housing, commercial properties and the price points involved. From your inquiry it looks like you're thinking about single family homes. There is a lot of churn in the lower end (which would be parents buying for their students) and the statistics vary a lot by part of town.
I can be reached at the following numbers, by email and through my web site.
Broker/Realtor REMAX Boone Realty
ABR, GRI, CRS, CFS, CNHS, e-Pro
TrishaLee@Remax.net (email)... more