Zeus, Home Buyer in Raleigh, NC

If I have a home currently being rented out, but need to get it off of my books in order to buy a home where I live- how can I?

Asked by Zeus, Raleigh, NC Mon May 21, 2012

We have a home in the Hedingham community that we need to get off of our books ASAP. Is it possible to find some kind of investment buyer/network to buy the mortgage balance off of me? The tenant we have is great, makes their payments on time, takes care of the house, etc. so I'd hate to have to put them in a tough spot. Our financial situation has changed and we are not looking to make a profit- just looking to get it off of our books so we can buy a home where we live now.

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13
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0 votes Thank Flag Link Tue Jan 14, 2014
Call me I am with Coldwell Banker Howard Perry and Waltson
We have a wealth of agents who all including myself have investment buyers.

JoAnn Knorr, Agent
919-607-4869
0 votes Thank Flag Link Sat Jan 4, 2014
I can help you out with your property I have a property mgmt. company as well as sell real estate I do this all the time with tenants and help them get of the property and into another one while selling the home at the same time.
Louella Venable
re/,max 919-601-7653
My rental company is V&V Properties 919-961-3172
Plus I lived in Hedingham for 10 years and I still own property there so I am very familiar with the neighborhood
0 votes Thank Flag Link Sat Jan 4, 2014
Zeus,

What is the situation with this home/mortgage currently? Are you still looking for someone to buy the mortgage balance from you?


/Mark
0 votes Thank Flag Link Fri Jan 3, 2014
Would love to sell it for, but most lenders will count about 80% on the rental income for you as income unless that has changed with the lenders recently. So you might be able to buy without having to short sell the home.
Thanks,
Del O'Neal
office 919-954-1717
cell 919-812-8001
del.realtor@gmail.com
0 votes Thank Flag Link Fri Jan 3, 2014
Many great people here to help you out.

Good luck.
0 votes Thank Flag Link Tue May 22, 2012
Many great people here to help you out.

Good luck.
0 votes Thank Flag Link Tue May 22, 2012
Did you ask the tenants if they want to buy the property? There is a price that every home will sell at, be prepared to go rock bottom.
0 votes Thank Flag Link Mon May 21, 2012
Hello!

If you can email me the address of your house at Nila@CarolinaMaxRealty.com, I may be able to find a solution to your housing situation after I do my research. Pleae include the approximate amount of your mortgage balance that needed to be paid off. Thank you.
0 votes Thank Flag Link Mon May 21, 2012
Zeus,

Are you in a situation where you are looking or needing to short sale your home? I can certainly help you with doing a short sale or even a conventional sale. The fact that you have renters in the property should not be a big issue; though it does make our job a little bit more challenging but it is certainly not something I can't handle. Also have you checked with a few lenders to see how the proceeds from your rental unit might impact you qualifying for a new loan? You might be able to qualify for a new loan while still holding on to your current property. I have many great lenders I can refer you to. Contact me at Mark@PremiereTriangleHomes.com or at (919) 627.8087 and let's discuss your situation.
0 votes Thank Flag Link Mon May 21, 2012
Zeus,

Are you in a situation where you are looking or needing to short sale your home? I can certainly help you with doing a short sale or even a conventional sale. The fact that you have renters in the property should not be a big issue; though it does make our job a little bit more challenging but it is certainly not something I can't handle. Also have you checked with a few lenders to see how the proceeds from your rental unit might impact you qualifying for a new loan? You might be able to qualify for a new loan while still holding on to your current property. I have many great lenders I can refer you to. Contact me at Mark@PremiereTriangleHomes.com or at (919) 627.8087 and let's discuss your situation.
0 votes Thank Flag Link Mon May 21, 2012
You can put the house up for sale with the existing lease in place. Unless you work out a deal with your tenants you will be required to honor the terms of the lease and can't just kick them out if they are paying on time and not violating any of the terms of the lease which is sounds like they are not. Depending on the home, the price you need and how much the current monthly rent is it is possible to sell it with the terms of the lease in place. I work with a number of investors in the area and we buy homes and sell homes with leases in place. I would be happy to discuss your particular situation and see what would work best. Is it possible your tenants would/could purchase the house from you? Just contact me here through Trulia and we can figure out what would work best for you.
0 votes Thank Flag Link Mon May 21, 2012
Hello,

I am with The House Business and we purchase homes in the Wake County area (have been for over 30 years). Please give us a call and we can discuss your situation.
Thanks,
Kathy Baker
919-858-7060
http://www.thehousebusinesss.com
0 votes Thank Flag Link Mon May 21, 2012
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