Home Buying in Grapevine>Question Details

Rob, Home Buyer in Grapevine, TX

I want to buy a foreclosed house in Grapevine a house that falls in Carroll ISD.

Asked by Rob, Grapevine, TX Sat Sep 29, 2012

But I can not buy now with my credit score. I will have cash to buy in the Summer. If I find a foreclosed house to buy now. Is there any one that gives short time loan to buy.
Thanks

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Answers

18
Good Afternoon Rob
The process of putting a foreclosed home on the market has many parts. As Stephanie said it does depend on whether or not someone lives in the home. But also: on who ultimately holds title to the property, time to assign an asset manager, time for a condition inspection, time for a broker opinion of value, repairs if deemed appropriate, weatherization at this time of year. These things will all happen before whomever holds title decides decides whether or not to bring in a realtor and put the property on the market. In some parts of the metroplex they are holding homes off the market . All this means that there may be plenty of time to buy this particular home. Not sure what your credit score is, but mortgage financing below a 625 credit score is hard to come by and the terms are generally not realistic. If you have questions I am happy to help you out. I wish you the best of luck!

John Straub
Keller Williams Realty
817-729-4281
john@dfwfamilyrealty.com

http://www.dfwfamilyrealty.info
1 vote Thank Flag Link Wed Dec 5, 2012
Rob, I talked to Grant and he thinks he knows you as well. He said, and I quote "We may be able to get around it."

Go ahead and give him a call/text or email.
0 votes Thank Flag Link Wed Dec 5, 2012
Stephenie,

I will do

Thanks
Flag Wed Dec 5, 2012
Rob,

Yes I think he does. How long ago was your foreclosure?
0 votes Thank Flag Link Wed Dec 5, 2012
Stephanie,

In the beginning of the blog I mentioned I went through foreclosure. Do you think Grant will entertain me at all. I don't want to waste his time.

Thanks
0 votes Thank Flag Link Wed Dec 5, 2012
Rob, his name is Grant Griggs. (817) 368-3052
Web Reference: http://Www.loansbygrant.com
0 votes Thank Flag Link Wed Dec 5, 2012
Stephanie, Yes I am interested. Please let me know.

Thank you
0 votes Thank Flag Link Wed Dec 5, 2012
Rob, if it was just foreclosed on yesterday then it will be about 30-60 days before it is on the market. Longer if they have to evict the now previous owner. Unfortunately, we really won't know anything until it actually hits the market.

I have a lender that I work with a lot who can work with just about any situation with a credit score of 600 or above. Let me know if you want his information. Great, honest guy.
0 votes Thank Flag Link Wed Dec 5, 2012
Yesterday, a house in Mesa Verde Trial , Grapevine was foreclosed. I wonder if any one knows the status.
0 votes Thank Flag Link Wed Dec 5, 2012
Rob,

I'd love to talk to you further about what your looking for, time frame, etc.

Please call me at 817-682-1356 or email me at stephanie@manningandcompany.com
0 votes Thank Flag Link Wed Dec 5, 2012
Stephanie

I agree with you. Thanks

Previously you asked my credit score it is 700 now.
0 votes Thank Flag Link Wed Dec 5, 2012
I am surprised by sanders716 post. I am a realtor and I also live in grapevine that feeds to Carroll isd. My son has no issues with the other kids that do live in southlake. Many of his friends from different classes are in our neighborhood and play. We do play dates alternating houses with southlake kids too. Most don't seem to care.

There are "richer and poorer" sections to any school district. It is about the kids and the values and morals they are raised with.

Don't let it be a diterrant. I did my neighborhood 100% for that exact reason, Carroll isd, and have not regretted it once.
0 votes Thank Flag Link Wed Dec 5, 2012
If you buy a house in Grapevine that goes to Carroll schools, your children will be the poorest kids in their school and your house will probably fit in your childs' friends shed. We went down that path and decided on the neighbor near Grapevine Elementary. The neighborhood kids will be together in the sames schools from K-12. My child has attended k-5 and it has been great. Don't try to get in on Carroll ISD on the cheap. You'll regret it.
0 votes Thank Flag Link Wed Dec 5, 2012
I think there are homes in Colleyville in Carrio ISD but not Grapevine to my knowledge.
0 votes Thank Flag Link Sat Sep 29, 2012
Maybe, but you will need a large down payment...typically something like 30% and be prepared to pay high closing costs and high interest like 7-8%. This is called hard money loan.

You might also see if you can partner with an investor to perhaps buy now, do the rehab, and then sell to you at a profit when you have the cash. This might be interesting for someone for example if you can pay what cash you have now up front, and perhaps pay up front rent for six months.
0 votes Thank Flag Link Sat Sep 29, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Hi Rob
Based on what you are saying I think your best plan is to wait and get your credit score up. Like Joe said, financing may be nearly impossible to come by. The terms if you do find financing will likely be so cumbersome it will not be possible in reality for you. I wish you the best.

John Straub
Keller Williams Realty
817-729-4281
john@dfwfamilyrealty.com

http://www.dfwfamilyrealty.info
0 votes Thank Flag Link Sat Sep 29, 2012
Rob,

You are better off waiting until you have the money to purchase what you are looking for. The lenders who own these foreclosures will always want to see that you have proof of funds and/or are fully pre- approved before they accept your offer. Besides, the bidding process can be quite competitive at times, and so you will be in a better position when you have the money in the bank. Brent Rice, The Rice Group, Inc. 214-808-3100
0 votes Thank Flag Link Sat Sep 29, 2012
Thaniks
Flag Wed Dec 5, 2012
Grapevine is an extremely small community in the DFW area . I would not be concerned with what is available NOW vs. what is available when you can qualify for a loan. Much also depends on the amount you can purchase a home for .

Many of my clients are currently purchasing commodity properties based on # of reasons within the next few years will make a profit on the resale.

Dallas is a strong housing market !
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
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Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
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0 votes Thank Flag Link Sat Sep 29, 2012
Do you know what your credit scores is? There are some lenders that can work with a 600-620. I actually live in the area you are referring to as I am in Grapevine and my child goes to Carroll ISD.


There are not a lot of foreclosures, but there are a few. What kind of price range are you looking to be in?
0 votes Thank Flag Link Sat Sep 29, 2012
Hi Stephanie

My credit score is 645. But my house was foreclosed this year.
Basically we will have cash to buy this summer. I am wondering if I find something good now would some one help to buy it. Under 100,000. I want to thank all of you for your replies.
Flag Sun Sep 30, 2012
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