No, there are lots of manufactured homes that are not in a 55+ community, but they are usually priced substantially higher. They also don't qualify for lending very well, unless they are made in 1995 or newer.... more
The way you ask the question, I am inferring that you are upside-down;
but I detect that you do not have a HARDSHIP:
You are just Upside-Down, and you don't like it.
1. Shortsale; if you are not in a Hardship situation, your Bank probably will not let you do a shortsale.
2. Foreclosure; you will have to stop makking payments to get your bank's attention: It seems that the bank won't talk to you unless you are behind. You will ruin your credit for probably three years.
3. Deed-in-lieu; is a process where you hand them the Deed and walk away. Oregon is a Non-Recourse state, so you can probaly do this.
4. Modification; this has only worked for about 10% of the people who have tried for it. You can ask the Bank to reduce the Interest Rate, Forebear payments to the back of the Loan, or forgive some of the Principle. (Good luck on gettingsome of the Principle!)
5. Rent it out or just grin and bear it until the market recovers.
Good luck and may God bless... more
While the process of buying a short-sale property isn't complicated, it can take longer to close escrow than a normal sale. Loans can be structured to close in greater than 30 days - it usually depends upon the close of escrow date agreed to by the Buyer and Seller, and how far out the closing is scheduled for.
If I understand your post correctly, the short-sale property you are interested in is owned by the listing agent. If this is correct, by law, the listing agent/owner can not represent you in the purchase of this property. You will not be represented by an agent. Because of the potential problems and complications involved, I would very strongly suggest that you find an experienced Buyer's Agent to represent you on the sale of the property in order to protect your interests.
I do not work in the Salem area, but if you need a qualified agent down there, I can suggest several excellent agents who have experience in purchasing short-sale properties.... more
An investor purchased a bunch of those units and they are selling off their investment. They owned 19 of the 42 units in the complex. All of the ones for sale are from the same investor. If you want more information you can send me a private email.... more
If you wish to see the interior the tenant has to be notified. But, one needs more information in order to set this up. Please email me at firstname.lastname@example.org and I will talk with you further.
murray Brown Real Estate... more
Hi there, I manage several short sales a year and to be honest with you, if you have a realtor that knows how the short sale process works, it can be a great advantage to you as far as value. The only disadvantage I can think of is the waiting you will have to endure while the bank makes their decision. It can take 60-90 days. A typical resale property can be closed in 30 days. While waiting for bank approval you could miss out on a great inerest rate lock also.
I would just suggest making sure your realtor knows the process and you will be just fine.
Please check out my website at www.johnlscott.com/robynjones for answers about short sales.
Thank you.... more
Do you mean who is a real estate agent that represents buyers?
Most local real estate agents represent buyers or sellers. I do recommend that you pick an agent that doesn't represent both sides of the transaction though (meaning a buyer and seller at the same time).
I would find a real estate agent that you feel comfortable with their local knowledge, attitude, and professionalism. You can look on the Trulia "Find a Pro" directory and there a a lot of local Salem agents there. You can google "Salem Oregon real estate blogs" and read some local blogs by local agents to see if anyone is a good match for you.
The most important thing is to find an agent you feel good about. Home buying is really difficult these days due to lending conditions.... more
Since rent to own properties may not be listed as such, consider working with an agent of your own. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright...... more
I thought there was a way to edit my question, but I don't see it here. I am looking specifically for median recent home sale price over year of rent. I am not sure if there are different ways to calculate...... more
You need a real estate attorney. Your mother is legally represented by another real estate licensee in the state of Oregon and none of us can interfere in that contract.
I wish I had better information for you, but that is the reality. Your mother may be able to back out and get her earnest money back it just depends on what contingencies remain in the contract.
Seek legal help.... more
Often the preliminary title report is done prior to listing, but not always. I suspect that they have already done the preliminary title work and have discovered issues with the title. If you are working with an agent they should've received a preliminary title report which would spell out the issues relating to the title. Often the issues can be fixed before closing but not always, which is why you are probably in a waiting mode.... more
Generaly speaking, the park owners set rent fees. They vary according to parks and generally are involved according to amenities listed and available to the homeowner. If you are interested in a particular park just email me and I would be happy to discuss this further.... more
Don't buy an online membership! You may not have access to foreclosures, but Realtors do. I can send you any foreclosure lists you are interested in. Yes, you can save up to 30% or more, but even with that much off there is not a lot out there under 120K, but there are a few...... more