Banks will accept reasonable offers. But you usually need to pay both sides of transfer tax and u and o permits plus any repairs. Short sales are moving a little quicker. Some of the issues are condition of home.... more
Are you referring to a short sale? Please call Diamondback Realty 602-323-7777 or email realtorpatty@.q.com to discuss your question further. Many seller's short sale due to many reasons. Mainly hardships that are due to loss of income, employment, separation, divorce, medical reasons, ARM's where they cannot afford their mortgage increase, debt is too high and they just can't make the payment. For others it's job relocation, a move out of state. The list goes on. Give me a call if you have further questions.
If you are a buyer, give me a call too. I can better answer your questions.
Patricia Van Houten PLLC
If you're facing homelessness, then perhaps buying a home shouldn't be your top priority. Your top priority should be to find a stable housing situation. And that more likely means renting than buying. Check with your county's housing office, or your case worker, to find a stable housing situation.
Just for the record, sure, you can buy a home for less than $6,000. Plenty of mobile homes sell for less than that, though you'll also have to pay ground rent.
Or you can buy a property "subject to" an existing mortgage. You get the deed, sometimes for no money, sometimes for a few thousand. But then you have to make the monthly mortgage payments.
Or you do an equity share with someone with the necessary downpayment and credit.
But in your case, the question isn't one of finding a house to buy. It's finding a stable place to live.
Yes... with the amount of time it takes to get an answer from banks, I know of several buyers who have submitted multiple offers and then canceled the ones that they didn't get an answer from or later decided they didn't want. In any case, be prepared to wait for at least 30-60 days for an answer from any short sale that you submit an offer to... my best advice is to seek the counsel of a good buyer's agent and have them guide you through the process.... more
Brian, you mentioned a limited employment history...were you in school before that? Sometimes you can get around it if that is the case.
I say there is always hope! You need to work with a good Realtor and loan person. I can recommend a great loan officer in So Cal...she can work with you. If you need a referral for a Realtor let me know.
All the best,
The Chance Team
Keller Williams Realty Studio City... more