First, you're not going to be foreclosing on your current home. The bank will foreclose. There's a difference.
Should you rent your current property? You mean rent out the property on which you expect the bank to foreclose? No. That'd be dishonest and unethical.
Can you do a lease-purchase for a condo or townhome? Yes, if you can find an owner willing to do so. However, recognize that a foreclosure will remain on your record for years. So while you might be able to enter into a lease-purchase agreement, you might have a great deal of difficulty actually purchasing the property.... more
Yes to your point the Emory Hospital area has some nice rental returns on good quality product. If you email me the price point you seek I will see what I can find. I focus on Intown Atlanta, and Gwinnett properties and work with a number of investors to find nice returns. Feel free to contact me and let me know what you seek. I can usually turn around a list of potential ideas the same day.... more
So you can now convert Sec 8 vouchers to some kind of assistance for purchase? I know nothing of this but would love to know. Hopefully someone here can answer your question.... (because inquiring minds want to know). But, I suspect you really should be talking to your Sec 8 office.
And PSST... Jeremiah - Sec 8 is not a hand out it is a hand up - at least when managed properly. Sure there are opportunities for fraud and IMHO those situations should be dealt with much more swiftly and severely than they often are (varies by housing agency). HOWEVER, I bet you don't know that you can have a Sec 8 voucher that doesn't result in ANY payment on your behalf if your income increases... and that the max income level for a Sec 8 voucher recipient is 80% of the median income.... more
Most FSBO Sellers are savvy enough, especially in this market, to have factored in a Commission for a Buyer who prefers having a professional on their side of the table at Closing, Amanda. If you want to navigate these waters alone, please do your homework in advance. Consider learning at what price point all homes in the area sold, finding a good Lender if this isn't a cash deal, and writing a contract that will protect you if certain things do or do not happen. Please call, text or email if we might help further. Good Luck!
You can check on line with some real estate websites to find recent sales in your neighborhood. Make some comparisons with those sales to see how the home you're in stacks up.
This is the same approach that real estate brokers use. You may be able to get some price concessions since you're already living in the property, saving the landlord the cost and time of marketing the property, which can run about $5-10K.
If you're dealing with your landlord directly, I'd recommend bringing in a real estate broker or attorney on a fixed fee basis to assist in managing the paperwork.... more
Lisa it depends if there is a lien on your current house or are you worried aboout the house you are buying, I would think if his name is on it they can can lien in no matter when it happened before or after marriage. you may want to ask an attorney in your state as laws differ from state to state to make sure.... more
Great questions...would suggest that you talk with an attorney on this one. Not sure why this would come up on a title search for new property here in GA? Also, if you are not named and it was premarriage, that seems good for you. You can certainly be the only one on a title in GA...assuming that you qualify for a loan on your own, which I would recommend that you discuss this with whomever is doing your loan.
Bottom line - get this resolved now with professional advise from attorney and mortgage institution that you are using. Have all of the documentation/letters, etc. that you have on the issue when you consult the pros.
Buckhead Home Realty
Check with your lender to see if they feel comfortable doing that. It may also depend on how you end up taking title with both names under it. I have seen a few instances where the lender has allowed it, but since it's transaction-specific, I would ask your lender if that's ok. Best of luck, Caroline... more
I would think that because your name is not on the title to the home that you would not be considered to be an owner just by marriage. I suggest that you ask a real estate attorney as he/she can answer this question best as they are the legal experts.
Good luck to you!
Prudential Connecticut Realty... more
My understanding is the following are community property states, Tp.
Please consult a tax or legal professional if you need to verify. Good Luck!
No lots in the development, Bentwood at Sugarloaf , are currently listed for sale on either FMLS or GA MLS, Ted. Try calling 866-257-1423 for more info and let me know if I may help further. Good Luck!
I believe that you are asking if both spouses need to be on title to a property. The answer is No. I am in Pennsylvania and not sure how this answer pertains to other states.
There are in effect three parts to a purchase.
Title......who has ownership in the property. The note......the promise to pay the bank for the money borrowed. The mortgage which is the pledging of the property as security
You can choose to put the property in your name alone. If you are financing and do not need the spouses income you are fine. If you need to use the spouses income to qualify for a mortgage then they must be on the note. Most lenders will require that the spoouse also be on title and mortgage.
You can be on title to the property but not on the note not the other way round.
Take a look at this blog - since you have a buyer's agent, we have to be careful in giving you answers, but here's a relevant post:
Only your agent can answer the question of if they are willing to send you new, updated comps.
Best of luck to you!
Simple answer without knowing all of the details- YES!
I'm assuming that the one buying the home has VA eligibility, is credit worthy, and makes sufficient income to qualify for the home by oneself.
I know of a couple of really good and trustworthy lenders that can help you obtain a mortgage.
John Michelena... more
There is a huge difference between a Buyer's Agent and a Listing Agent. You really need to be careful when choosing an agent to market your home.
You should ask some really hard questions such as:
1. How many listings does the agent currently have?
2. How long has that agent been in Real Estate?
3. How will your home be marketed? (ie. internet advertising, flyers, print ads, signage, open house, etc)
4. Does that agent work FULL TIME or are they a Part-time agent?
5. How many listings has that agent sold, as the Listing Agent?
If your agent is primarily a Buyer's Agent, they will be out on the road quite a bit and a lot of their time is taken. When will they be able to devote time to marketing your home? How will they be able to follow up on showings, and make sure that your home is being marketed in the right places?... more
You tell me
Active - 3 Properties Found
Bedrooms Full Baths Half Baths List Price Sale Price Days on Market
Min 4 3 0 $348,165 $0
Avg 5 4 0 $374,955 $0
Max 5 4 1 $426,700 $0
Sold - 3 Properties Found
Bedrooms Full Baths Half Baths List Price Sale Price Days on Market
Min 3 2 0 $295,900 $279,900 102
Avg 3 3 0 $321,308 $293,633 118
Max 4 4 0 $349,900 $321,000 144
Looks to me like the average sale price SOLD for a 4 bedroom 4 bath was 321,000... more