Is the MH in a rent/lease or a resident owned community? Was the home built before June 15, 1976? Does it have an engineered certified foundation system? If the home is in a rent/lease park/community Wells Fargo will not lend on it. You will have to go to a lender that provides chattel or personal property lending.
If the home is in a resident owned park/community i.e. a condo conversion, sub division, planned unit development (PUD) or on a private lot/parcel, was built after June 15, 1976 and has an engineered certified foundation system under it and meets all the other lender guidelines there are several lenders including Wells Fargo that will lend.
If you would like to contact us directly for more up-to-date and factual information please call Janis at 760 415-1982 or email us at email@example.com.
That property had a small fire and has been vandalized. It recently had a homepath sign on it but has not yet been foreclosed upon. If you want more information contact Corey Bair in my ofice she specializes in Rio Linda and has the home across the street for sale.... more
The short answer is that most homes go off market because of a pending sale. There are times a home will go off market because the listing was cancelled or withdrawn. Sometimes these homes come back on the market. The best thing to do is to call the listing agent and inquire as to the status.... more
You could find an agent who will show you Fannie Mae "First Look" homes. "First Look" homes cannot be sold to flippers. Because you plan to occupy it yourself, you will only have to compete against other owner occupant buyers.
HUD homes also give preferential treatment to owner occupant buyers. Ask your agent about these homes as well.
If you do not have an agent, scroll through Trulia's list of agents that work in Rio Linda. There are many agents listed on Trulia who would be happy to help deliver your dream.
You will not choose me because I am grateful to work with owner occupants, cash buyers as well as financed buyers.... more
You are very onservant! Most homes on the market these days are in escrow. That's because we have about half the amount of homes for sale that we did a year ago, and yet we have the same amount or more qualified home buyers. We've officially entered a seller's market, meaning it's an easy time to sell quickly. And if it's an easy time to sell quickly it means that as a home buyer you need to act quickly. Wanna get your hands on the home of your dreams? Get pre-approved for a loan. This makes you like a cash buyer in the eyes of a seller. And get yourself a Realtor who can acts quickly and is resourceful. Did you know that the home seller pays for you to use a Realtor? Free representation can't be beat. Good luck and happy house hunting!... more
There are two listings of home with acreage in Rio Linda in MLS that offer owner financing. The 2200 square foot house on 2 acres is listed at $440,000. Another listing is a 2060 square foot house on 1.2 acres, priced at $198,999 (with additional acreage available for more money.... more
As Fred said, you did not give any specifics on which home you were writing about. But as a general rule in this market, most homes are short sales, meaning that they are selling for less than the sellers owe the bank. Therefore, a Rent to own is probably not an option that they can offer. However, if you find someone who is selling for other reasons, the rent to own option may be a viable alternative.
You should research some other discussions here on Trulia for the specifics of rent to own contracts, but essentially, you are completing a lease agreeement in total, with a separate option agreement such that, within a specified period of time, you can purchase the property at a specified price. That right will most likely cost you an upfront fee of, maybe, $!0,000 and will be nonrefundable should you decide not to purchase the property during the option period. There's pro and cons to the rent to own agreement for both the buyer and seller. You will not be eligible for rights as a homeowner (the first time homebuyer tax credit, or other tax breaks) until you execute the purchase on the home.
But in any case, whatever home you're interested in, this question is best answered by the homeowner and a matter of negotiation.... more