When you want to buy a home the best place to start is to hire an EXCLUSIVE Buyer Agent, not just a Buyer's Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. I can refer you to an EBA in your area, if you like.
I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and get a mortgage without getting ripped off. Follow the link below.
Best of luck!
HI jojack9295. I don't see which home you're talking about. But cowetatax.com has a fair amount of good use. You can use the aerial feature and the measuring feature to know exactly how far downtown is from the home.... more
The home located at 110 Estate Drive in Sharpsburg is available for lease or sale. It is located in the East Coweta School District. If you send me your email information, I will send you additional information on this home and additional homes as well. Please give me a call if you have questions 404-918-3935.... more
I expect that the builder is going to say that you should have realized this prior to contract. As for your buyer's agent, when did they make you aware of this? If they did it prior to signing, it's on you. If after signing then I would explore reasons why your agent failed to see this - a conversation with the broker may be in order. Did the agent suggest walking the lot prior to signing? Way early in your investigation but the buyer agent has responsibility to you.....
If you end up keeping it see if the builder will provide a vegetation screen, something to keep the visual impact down and keep kids from getting around it.... more
I hope you donâ€™t find one. I hate to see bad things happen to people. Rent to own isnâ€™t buying a home, it is leasing, and at a much higher cost in almost every case. Usually it is about a landlord that is cashing in on the optimism of someone that is having a tough time. I spoke to a closing attorney recently on this very subject. He said he has written up hundreds of these puppies over the years and estimates that less than 3% ever worked out for the buyer. That means 97% of the â€œbuyersâ€ lost money. Of the people I have known that tried this I think the failure rate is closer to 99.99%. One month I keep a running total of how much people told me they lost doing this and it was over $250,000. That was just in 20 working days! AND only one loan officer chatting with people inquiring about getting approved for a loan.
I have never spoken to any â€œbuyerâ€ that that understood what will happen when it comes time to pay off the seller in a lease option transaction.
Hey Realtorsâ€¦ tell your clients that a mortgage underwriter is going to follow the mortgage guidelines - NOT the contract between the tenant and the landlord on a lease option. Most of the people that are asking these questions about lease options think whatever they agree to is how it goes down, they are throwing money away!!!
These lease option â€œbuyersâ€ are being taken advantage of because they are desperate to own a home. If the deal isnâ€™t worded the same as the mortgage guidelines then an underwriter is forced to turn down their loan application when it comes time to pay off the seller. It just isnâ€™t right to let people that are having a hard time get put in worse shape because fear is driving them to â€œbuyâ€ a home.
Why would anyone throw away their hard earned money without investigating what happens when it comes time to pay off the seller? No idea, but I promise, someone will read this, think I donâ€™t know what I am talking about and toss away their money just because they think it will work out somehow. If the contract is worded in such a manner that it conflicts with the mortgage guidelines then the loan application will be denied and the â€œbuyerâ€ walks away with nothing to show for all of the cost and effort. Fix your credit issues, save some money, then buy a home. I hope my comments keep you from being taken advantage of because you are desperate to own a home. Good luck,
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.... more